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• Low-loss transmission of wind energy for 1.1 million households
• Further contribution toward decarbonizing energy supplies

Siemens Energy is supplying the high-voltage direct-current (HVDC) power transmission technology for a further offshore connection in the German North Sea. A corresponding contract was just signed by the German-Dutch network operator TenneT and the BorWin5 Offshore Consortium, consisting of Siemens Energy and Dragados Offshore. In 2025, the platform BorWin epsilon, which is part of the BorWin5 project, will begin the low-loss transmission of electricity produced by the EnBW He Dreiht wind farm off the island of Borkum to the Garrel/Ost converter station around 230 kilometers distant. The transmission capacity of 900 megawatts is calculated to serve over 1.1 million households with electricity. The project is a further contribution toward decarbonizing Germany’s energy supply. BorWin5 marks the seventh HVDC offshore grid connection project undertaken by Siemens Energy in Germany with TenneT.

• SPIC to acquire 33% of GNA I and GNA II 3 GW LNG-to-power projects
• Enter agreement to participate in future expansion projects GNA III and GNA IV as part of overall 6.4 GW power and domestic gas hub strategy at Port of Açu

Prumo, a private Brazilian company controlled by EIG Global Energy Partners, bp and Siemens signed a binding agreement with SPIC Brasil. Under the agreement, SPIC will initially acquire 33% of the GNA I and GNA II LNG-to-power projects, located in Port of Açu, Rio de Janeiro. SPIC has also entered into an agreement to participate in the future expansion projects GNA III and GNA IV, which are expected to be fueled by a combination of LNG and domestic gas from Brazil’s vast pre-salt reserves.

• Adjusted EBITA in Industrial Businesses climbs 8 percent to €1.8 billion
• Adjusted EBITA margin rises to 14.3 percent
• Strong free cash flow of more than €2.1 billion in Industrial Businesses providing liquidity and security
• Orders down 7 percent to €14.4 billion and revenue down 5 percent to €13.5 billion year-over-year
• Global uncertainties continuing in Q4

Despite major uncertainties due to the global COVID-19 pandemic, Siemens AG maintained its course very successfully in Q3 of fiscal 2020, both strategically and operationally. In a challenging macroeconomic environment, the company’s Industrial Businesses generated a strong EBITA margin of 14.3 percent. Adding 1.7 percentage points to this margin was a positive effect of €211 million at Digital Industries. Siemens successfully avoided major supply chain bottlenecks in connection with the COVID-19 crisis despite taking precautionary measures, which were in some cases substantial, to prioritize workforce health and safety. With free cash flow of more than €2.1 billion in its Industrial Businesses (€2.5 billion at Group level), Siemens has sufficient liquidity to master the COVID-19 crisis effectively – or to emerge from it even stronger than before.

• Revenue was €13.5 billion, 5% lower than the same quarter a year ago, with Mobility delivering growth and other industrial businesses posting declines resulting largely from factors related to COVID-19; orders, which came in 7% lower at €14.4 billion, included significant contract wins at Mobility resulting in a book-to-bill ratio well above one, at 1.07
• Revenue and orders showed the same development on a comparable basis, excluding currency translation and portfolio effects
• Adjusted EBITA Industrial Businesses increased to €1.8 billion, benefiting from a €0.2 billion gain from revaluation of an equity stake within Digital Industries; Adjusted EBITA margin Industrial Businesses was 14.3%, including the revaluation effect which contributed 1.7 percentage points and severance charges which took 0.4 percentage points
• Net income was €0.5 billion and basic earnings per share (EPS) were €0.67
• Strong Free cash flow of €2.5 billion, up from €0.4 billion in Q3 FY 2019; improvements in all industrial businesses

• Klaus Helmrich to retire at end of March 2021 after 35 years at Siemens
• Cedrik Neike to succeed Helmrich as Managing Board member responsible for Digital Industries, effective October 1, 2020
• Matthias Rebellius to succeed Neike as Managing Board member responsible for Smart Infrastructure, effective the same date
• Effective October 1, 2020, Roland Busch to assume responsibility for fiscal 2021 as previously announced; Joe Kaeser to actively support transition and hand over CEO role to Busch upon completion of Annual Shareholders’ Meeting in 2021
• Succession process now concluded for Siemens AG’s leadership team with new Managing Board set up under leadership of Roland Busch, effective October 1, 2020, to lead next phase of Siemens’ transformation

Klaus Helmrich (62), the Managing Board member responsible for Digital Industries (DI), will retire upon expiration of his contract at the end of March 2021 after 35 years at the company. Cedrik Neike (47), the Managing Board member currently responsible for Smart Infrastructure (SI), will succeed him as of October 1, 2020. Matthias Rebellius (55) – currently SI’s Chief Operating Officer (COO) – has been appointed to the Managing Board and will assume responsibility for this unit.

• Transformational milestone in execution of Siemens’ Vision 2020+ strategy 
• Siemens Healthineers intends to acquire 100 percent stake in U.S. healthcare company at a purchase price of around $16.4 billion
• Acquisition to create global leader in cancer research and therapeutics and support Siemens Healthineers’ equity story
• Mixed financing through a capital increase at Siemens Healthineers AG and intra-Group loans to Siemens Healthineers
• Siemens AG’s stake in Siemens Healthineers AG to decline to about  72 percent from 85 percent
• Siemens AG to remain long-term majority shareholder in Siemens Healthineers
• Siemens AG aims to maintain its current A+ / A1 rating

Siemens AG is continuing to rigorously execute its Vision 2020+ strategy and therefore expressly welcomes Siemens Healthineers AG’s acquisition of a 100 percent stake in Varian Medical Systems, Inc. (NYSE: VAR), a U.S. company active in the area of cancer research and therapy. Payment of the purchase price of around $16.4 billion is to be enabled by mixed financing from the issuance of new Siemens Healthineers shares and the issuance of bonds. The proceeds from the bonds are to be transferred within the Group to Siemens Healthineers under customary market conditions.

• Siemens Energy to supply 20 compressor trains for a critical gas project in the Kingdom of Saudi Arabia (KSA)
• The project will enable the operator to manage its surplus gas volumes efficiently to meet seasonal demands  

Siemens Energy was selected to provide centrifugal compressor systems for Saudi Aramco’s Hawiyah Unayzah Gas Reservoir Storage (HUGRS) project. The plant includes a gas injection facility with a capacity of 1,500 million standard cubic feet per day (MMSCFD) (42,475,270 cubic meters per day, or m3/d) and a withdrawal facility capable of processing up to 2,000 MMSCFD (56,633,693 m3/d) of gas.

• Easy and fast engineering with Desigo Engineering Framework
• Open by design for integration of different protocols and devices with no need for additional hardware or software
• Offers wireless access to controllers, remote cloud connection
• Secure connectivity and encrypted communication

Siemens Smart Infrastructure launched its new building automation controllers Desigo PXC4 and PXC5 to transform buildings into high-performing, energy efficient assets. The new generation of Desigo building automation controllers offers a wide range of benefits for automating small and medium-sized buildings to get the most flexible and scalable building automation. Thanks to the new, licence-free Desigo Engineering Framework, devices can now be seamlessly integrated in the same framework for intuitive engineering. Features such as open by design for successful integration of different protocols and easy wireless access facilitate building automation. Both controllers were designed to expand and strengthen the Desigo portfolio and focus on one specific automation element - the Desigo PXC4 for HVAC plants and Desigo PXC5 for system functions and integration.