Siemens AG anticipates massive investments will be made in infrastructure in major cities throughout the world in the coming years. The largest part of the funds will be invested in ecofriendly solutions. “Cities are the growth drivers of the future, yet also account for the biggest share of CO2 emissions. Cities worldwide are the decisive factor for our climate. With our unique Environmental Portfolio, Siemens is the perfect partner for sustainable urban development,” said Siemens President and CEO Peter Löscher.
Interest in the Annual Shareholders’ Meeting of Siemens AG continues unabated in 2009. Some 24,000 shareholders have ordered tickets for the event in Munich’s Olympiahalle. About 11,000 shareholders ordered tickets online via the Internet. Some 63,000 registered to receive meeting documents electronically. By way of comparison: in 2008, roughly 26,000 shareholders ordered tickets and over 12,000 came to the Olympiahalle. The 9,500 shareholders attending represented more than 45 percent of Siemens AG’s capital stock.
Siemens got off to a good start in fiscal 2009 despite challenging market conditions. Revenue rose 7% to €19.634 billion in the first quarter, which ended on December 31, 2008. Orders continued to exceed revenue, at €22.220 billion, but declined 8% compared to the record high first quarter a year earlier. Siemens has thus performed significantly better than most of its competitors. Total Sectors profit climbed 20%, to €2.005 billion, and net income was €1.230 billion in the first quarter. In spite of the adverse economic conditions, Siemens is sticking to its income goals for fiscal 2009.
Siemens intends to rigorously expand its world-leading position as a supplier of ecofriendly products and solutions. “The move to a green economy is a huge opportunity for us,” said Siemens President and CEO Peter Löscher at the company’s Semiannual Press Conference in Berlin. In his speech, Löscher referred to the statements of German President Horst Köhler who, in his fourth Berlin address, called for an “environmental, industrial revolution.” “Technological revolutions have always been our specialty. That’s why no one is better equipped to lead the green revolution than Siemens. As a green infrastructure giant, the company is a reliable, long-term partner worldwide due to its experience, technological expertise and solid financial position,” added Löscher. The technologies in Siemens’ Environmental Portfolio already generate sales of roughly €19 billion, accounting for about one-quarter of the company’s total revenue.
On Sunday, August 9, 2009, Wagner’s opera “Tristan und Isolde” will be relayed live from the world-famous Festspielhaus to the Bayreuth Festplatz and also transmitted online worldwide. The Siemens Festival Night will enable tens of thousands of people in Bayreuth and around the globe to see why opera fans consider the Richard Wagner Festival on the famed “Green Hill” to be a major highlight of the opera world. “We are happy to help Bayreuth present this world-class cultural event to a global audience,” said Siemens President and CEO Peter Löscher, “and we want to continue doing so after 2009, since we are interested in a long-term partnership.”
At the company’s Annual Shareholders’ Meeting in Munich, Germany, Siemens President and CEO Peter Löscher summed up fiscal 2008 as follows: “Reorganization, cost reduction, portfolio alignment and compliance. We're on the right course, and we’ve quickly made good progress.” Turning to the first quarter of fiscal 2009, Löscher also expressed his satisfaction. Siemens had a solid basis and – as an integrated technology company – a clear focus. However, in view of the difficult business environment, 2009 would not be an easy year. “These are hard times for us, too. Nevertheless, we refuse to join the chorus of those whose pessimistic statements are dragging down the mood even further. Keenly aware of our abilities, potential and opportunities, we’re continuing to pursue our course with self-confidence, strength and determination.”
“With great relief, a dark chapter in Siemens’ history has been systematically and successfully addressed,” said Gerhard Cromme, Chairman of the Supervisory Board of Siemens AG, at the company’s Annual Shareholders’ Meeting. Around two years after the start of investigations, the legal proceedings connected with the bribery allegations against the company in Germany and the U.S. have now come to an end. “We would like to express our deep regret that there has been unacceptable misconduct at Siemens in the past. We have done everything in our power to clarify what happened and to identify and correct the causes of misconduct,” added Cromme. “Today, Siemens has a clear, transparent structure with no gray zones of responsibility. At the same time, the company is more efficient, more cost-effective and thus more competitive. Siemens’ internal control mechanisms are among the best in the world. After two difficult years, Siemens once again stands on a firm foundation of integrity. Building on this foundation, we can now move forward,” he said.