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Press Release01 April 2019Siemens AGMunich
Patzak named Managing Partner for the Portfolio Companies of Siemens AG
"With Klaus Patzak, we've gained a proven expert in the areas of finance and portfolio. Leveraging his wide-ranging experience in a large number of industries, he'll help us get our Portfolio Companies back on track. I'd like to wish Klaus Patzak every success," said Roland Busch. Siemens' Portfolio Companies generated pro forma revenue of around €5 billion in fiscal 2018. In fiscal 2018, POC posted a loss (adjusted EBITA) of around €300 million. As defined by Siemens' new Vision 2020+ company strategy, the goal for the Portfolio Companies is to achieve an adjusted EBITA margin of five percent by 2023.
"I'm very pleased to have the opportunity – together with the management teams – to further enhance the performance of the Portfolio Companies and significantly increase their profitability," said Klaus Patzak.
In his capacity as Chairman of the Portfolio Companies, Jochen Eickholt will continue to actively drive the turnaround of these businesses and contribute his restructuring experience.
For this press release
Dr. Klaus Patzak
@siemens_press
@siemens_press
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. The company is active around the globe, focusing on the areas of power generation and distribution, intelligent infrastructure for buildings and distributed energy systems, and automation and digitalization in the process and manufacturing industries. Through the separately managed company Siemens Mobility, a leading supplier of smart mobility solutions for rail and road transport, Siemens is shaping the world market for passenger and freight services. Due to its majority stakes in the publicly listed companies Siemens Healthineers AG and Siemens Gamesa Renewable Energy, Siemens is also a world-leading supplier of medical technology and digital healthcare services as well as environmentally friendly solutions for onshore and offshore wind power generation. In fiscal 2018, which ended on September 30, 2018, Siemens generated revenue of €83.0 billion and net income of €6.1 billion. At the end of September 2018, the company had around 379,000 employees worldwide. Further information is available on the Internet at www.siemens.com.
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Siemens AG
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