We released our second quarter results for fiscal year 2019 on May 8, 2019. The press conference was broadcast live.
- Creation of new major player on the energy market with business volume of €30 billion and over 80,000 employees through spinoff of Gas and Power and transfer of Siemens' SGRE stake
- Spinoff to give shareholders direct participation in success and enable rapid implementation
- Future industrial core: Digital Industries and Smart Infrastructure
- Ambitious medium-term goals refined and long-term aspiration outlined
- Savings of €2.2 billion by 2023 through structural efficiency gains planned
- Growth in future-oriented fields to generate net increase of over 10,000 jobs despite efficiency measures
Siemens intends to meet its medium-term growth and profit targets by clearly focusing its portfolio on dynamic growth markets and efficiency gains. To this end, the Supervisory Board of Siemens AG today unanimously approved the next steps in the company's Vision 2020+ strategy concept, including the spinoff of Siemens' Gas and Power (GP).
Join Siemens at the 50th annual Offshore Technology Conference (OTC), May 6 – May 9 at NRG Park in Houston, TX, where Siemens' subject matter experts will share their insights on navigating the "new normal" in oil and gas and the digital revolution quietly transforming all industries.Harmful emissions and a global population of more than 1 billion who lack access to power are among the world's most pressing challenges. Siemens is effectively addressing both, by making fossil fuels cleaner, building out the vast transportation infrastructure required to move natural gas to destination markets, and effectively harnessing IoT solutions to maximize efficiency and reduce risks. Visit us at booth #4422 to learn more about how our carbon-cutting, efficiency-boosting, and data-exploiting solutions are transforming the energy sector and the world that relies on it.
- Partnership defines a new approach to digital safety and security
Siemens and TÜV SÜD have come together to address the growing risk of cyberattacks on critical infrastructure by collaborating to provide digital safety and security assessments, as well as industrial vulnerability assessments to help global energy customers identify asset risk and cybersecurity solutions.
Two technology teams were recognized today at the 50th annual Offshore Technology Conference (OTC) – Siemens BlueVault™ energy storage solutions and the Subsea Power Grid. Siemens is one of three companies to receive two Spotlight on New Technology (SONT) awards this year.
- New IP routers and IP interfaces ensure secure data and access-proof KNX communication over IP
- KNX IP Secure devices meet the highest security requirements in smart buildings
- More flexibility in power supply minimizes KNX bus current consumption
Siemens Smart Infrastructure expands the proven Gamma instabus building system with new IP routers and IP interfaces that support the latest KNX IP Secure standard. This extension of the KNXnet/IP protocol enables fully encrypted transmission of data telegrams, thus ensuring secure data- and access-proof communication between KNX IP routers within a single network.
- The agreement with Ministry of Electricity paving way to full execution of Iraq Roadmap
- Roadmap scope covers short, mid- and long-term addition of new highly efficient power generation capacity
- Includes rehabilitation, upgrade of existing plants, expansion of transmission and distribution networks
- Three contracts valued at around EUR 700m awarded for Phase 1 of the Roadmap
In a move that takes the roadmap for rebuilding Iraq's power sector a step further, Siemens and the Ministry of Electricity of the Republic of Iraq signed an implementation agreement to kick off the actual execution of the roadmap. The agreement builds on the exclusive Memorandum of Understanding signed between the ministry and Siemens in October last year, and outlines the specific projects, associated budgets and timelines for the execution phase, covering all essential elements of the electrification of Iraq. This includes the addition of new and highly-efficient power generation capacity, rehabilitation and upgrade of existing plants and the expansion of transmission and distribution networks. The document was signed by Joe Kaeser, President and CEO of Siemens AG, and Luay al-Khatteeb, Iraq's Minister of Electricity, in Berlin in the presence of Adil Abdul-Mahdi, Prime Minister of Iraq and Angela Merkel, Chancellor of the Federal Republic of Germany.
- Spectrum Power ADMS to provide reliable energy supply for 1.5 million people
- One multi-site system to handle all voltage levels
Hafslund Nett, Norway's largest grid company has contracted Siemens to supply a new Advanced Distribution Management System (ADMS) for the operation of the regional power grid in Akershus, Oslo and Østfold. The fully integrated grid operating center will enable monitoring and control of the complete power grid covering all (high-, medium-, low-) voltage levels. At the same time, it will allow easy integration of third-party IT/OT systems, such as customer information systems, workforce management or geographical information systems. The project is expected to be operational at the beginning of 2022.