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☆ Siemens CEO Hits Out Against Extremism in Germany
▼ + stars: | 2024-02-08 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

(Reuters) - Siemens Chief Executive Roland Busch on Thursday criticised the rise of extremism in Germany, the latest business leader to voice concerns about sharpening political divisions in the country. "I'd like to state loud and clear: extremism of any kind hurts this country," Busch said in a speech to shareholders at Siemens's annual general meeting in Munich. "And this naturally includes all those who come to Germany and want to contribute themselves and their skills." Siemens Energy supervisory board chairman Joe Kaeser last month warned of a resurgence of right-wing extremism in Germany, saying a policy of mass deportation was "absolutely disgusting". Siemens currently employs around 88,000 people in Germany, its second biggest market after the United States, and is investing $1 billion in a new high tech production and research centre in Erlangen, near Nuremberg.

Persons: Roland Busch, Busch, Joe Kaeser, Peter Boehringer, John Revill, Gareth Jones Organizations: Reuters, Siemens, Siemens Energy Locations: Germany, Munich, United States, Erlangen, Nuremberg

☆ Siemens sees weakening demand trends as third-quarter misses forecasts
▼ + stars: | 2023-08-10 | by ( ) www.cnbc.com time to read: +1 min

Siemens missed profit forecasts in its latest quarter, the German engineering company reported on Thursday, noting weakening demand in several markets including China. Siemens said it was now seeing a "normalisation of demand" after customers pre-bought last year to avoid shortages. Orders increased by 10% during the three months to the end of June, down from the 13% increase in the previous three months. Siemens kept its group-level outlook for the year to September-end but lowered expectations for its digital industries business which supplies factories with controllers. The division, seen by analysts as the jewel in Siemens's crown, now expects comparable revenue growth of 13% to 15%, lower than its previous outlook of 17% to 20%.

Persons: Roland Busch, CNBC's Arabile, Busch, I'm Organizations: Siemens Locations: China

☆ Siemens sees weakening demand trends as Q3 misses forecasts
▼ + stars: | 2023-08-10 | by ( John Revill | ) www.reuters.com time to read: +3 min

Sven Hoppe/Pool via REUTERS/File PhotoSummaryCompanies Company lowers guidance for digital industries businessSees weakening demand in ChinaOrders decline in all regions as customer buying normalisesZURICH, Aug 10 (Reuters) - Siemens (SIEGn.DE) missed profit forecasts in its latest quarter, the German engineering company reported on Thursday, noting weakening demand in several markets including China. Siemens said it was now seeing a "normalisation of demand" after customers pre-bought last year to avoid shortages. During its third quarter, Siemens orders rose 10% to 24.24 billion euros, beating forecasts of 22.19 billion euros. Revenue rose 6% to 18.89 billion, missing forecasts for 19.27 billion euros. Net profit of 1.44 billion euros also missed forecasts.

Persons: Roland Busch, Sven Hoppe, John Revill, Christopher Cushing, Jason Neely Organizations: Siemens, ZURICH, Thomson Locations: Munich, Germany, China, Europe

ERLANGEN, Germany, July 13 (Reuters) - Siemens (SIEGn.DE) will spend 1 billion euros ($1.12 billion)on new factories and facilities in Germany, the engineering company said on Thursday, as Berlin published a strategy paper highlighting the economic and security risks of investing in China. News of the Erlangen investment came as Berlin published a paper responding to a more assertive China, which included warnings about security risks of investing in the country. Siemens, which last month unveiled a 2 billion euro global investment plan, said it was investing in Germany to accelerate growth and also "increase its resilience." "Siemens is banking on innovation in Germany and launching the next stage of digitalization," Siemens Chief Executive Roland Busch said on Thursday. Under its global investment plan Siemens is also expanding its digital factory in Chengdu and building a new R&D centre in Shenzhen.

Persons: Chancellor Olaf Scholz, Roland Busch, Busch, Siemens, Alexander Huebner, John Revill, Tomasz Janowski Organizations: Siemens, Siemens Healthineers, Thomson Locations: ERLANGEN, Germany, Berlin, China, Erlangen, Beijing, Europe, United States, Chengdu, Shenzhen, Siemens's, Forchheim, Nuremburg, Zurich

☆ Siemens to invest $2.2 bln to ramp up global production
▼ + stars: | 2023-06-15 | by ( John Revill | ) www.reuters.com time to read: +3 min

[1/4] Siemens CEO Roland Busch announces their plans for a new Singapore plant, at their office in Singapore June 15, 2023. Siemens will also increase its research and development spending by 500 million euros this year, the company said on Thursday. The company, which employs 311,000, is seen as a bellwether for the health of the global industrial economy. Siemens also wants to grow faster than rivals and increase market share, Busch told analysts last month. Still, on Thursday Siemens said it was also investing 140 million euros to expand its digital factory in the Chinese city of Chengdu and building a new R&D centre in Shenzhen.

Persons: Roland Busch, Edgar Su, Busch, Wirtschaftswoche, John Revill, Tomasz Janowski Organizations: Siemens, REUTERS, Company, Deal, Thomson Locations: Singapore, ZURICH, United States, Europe, Beijing, Washington, China, Chengdu, Shenzhen

☆ Siemens raises full year outlook after 2nd quarter sales beat
▼ + stars: | 2023-05-17 | by ( John Revill | ) www.reuters.com time to read: +3 min

The company had already raised its full-year outlook in February, citing strong demand and its massive order backlog, which increased to 105 billion euros ($115.58 billion) in the second quarter. The raised guidance came after Siemens reported its second quarter revenue jumped by 14% to 19.42 billion euros ($21.38 billion). Analysts in a company-compiled poll had expected 18.59 billion euros. Industrial profit in the three months to the end of March rose 47% to 2.61 billion euros, missing forecasts for 2.70 billion euros. The group's industrial profit includes gains made by its digital industries, smart infrastructure, mobility and health care businesses, which form the core of its operations.

☆ Siemens raises full year outlook after Q2 sales beats forecasts
▼ + stars: | 2023-05-17 | by ( John Revill | ) www.reuters.com time to read: +2 min

ZURICH, May 17 (Reuters) - Siemens (SIEGn.DE) raised its full year sales and profit guidance on Wednesday after the German engineering and technology group beat sales forecasts during its second quarter. The raised guidance came after Siemens reported its second quarter revenue jumped by 14% to 19.42 billion euros ($21.38 billion). Analysts in a company-compiled poll had expected 18.59 billion euros. Industrial profit in the three months to the end of March rose 47% to 2.61 billion euros, missing forecasts for 2.70 billion euros. The group's industrial profit includes gains made by its digital industries, smart infrastructure, mobility and health care businesses, which form the core of its operations.

☆ Siemens raises full-year outlook after second-quarter sales beats forecasts
▼ + stars: | 2023-05-17 | by ( ) www.cnbc.com time to read: +2 min

Siemens raised its full year sales and profit guidance on Wednesday after the German engineering and technology group beat sales forecasts during its second quarter. The raised guidance came after Siemens reported its second quarter revenue jumped by 14% to 19.42 billion euros ($21.38 billion). Analysts in a company-compiled poll had expected 18.59 billion euros. Industrial profit in the three months to the end of March rose 47% to 2.61 billion euros, missing forecasts for 2.70 billion euros. The group's industrial profit includes gains made by its digital industries, smart infrastructure, mobility and health care businesses, which form the core of its operations.

Lawrence Elbaum, co-head of law firm Vinson & Elkins' shareholder activism practice, said investors were looking for value-boosting strategies that do not require much funding in a difficult market. Deka Investment, which has around 367 billion euros ($392 billion) in assets under management and holds stakes in most major German corporations, has repeatedly called out German companies for structural weaknesses. Germany's blue-chip DAX 30 index (.GDAXI) put in the worst performance of any major European stock market in the past year, rising just 2%. Joe Kaeser, supervisory board chairman of Siemens Energy (ENR1n.DE), said the United States was much more advanced, and also more successful, in the field of shareholder activism. As CEO of conglomerate Siemens AG from 2013 until 2021, he engineered one of Germany's most successful corporate break-ups, separately listing Siemens Energy and Siemens Healthineers (SHLG.DE) and merging Siemens's wind unit with Spain's Gamesa.

☆ Siemens raises sales and profit outlook after strong start to 2023
▼ + stars: | 2023-02-08 | by ( John Revill | ) www.reuters.com time to read: +3 min

Chief Executive Roland Busch said the company had made its strongest ever start to a financial year, helped by its working through an order backlog which stood at a record 102 billion euros. Smart Infrastructure - which makes products to automate and control buildings - also raised its sales and profit margin guidance. During the October to December period, Siemens said its revenue had increased 8% to 18.1 billion euros, matching estimates. Shareholders' net profit fell to 1.48 billion euros, in line with forecasts. Fellow industrial automation company Rockwell Automation last month reported a 9.9% increase in first quarter organic sales, and raised its sales growth outlook.

☆ Siemens signs 3 bln eur train deal in India
▼ + stars: | 2023-01-16 | by ( John Revill | ) www.reuters.com time to read: +2 min

Siemens will deliver 1,200 electric locomotives and provide servicing for 35 years under the agreement, also its biggest ever in India. "These new locomotives ... can replace between 500,000 to 800,000 trucks over their lifecycle," said Siemens Mobility CEO Michael Peter. The order was a big step for Siemens in India, Peter told Reuters, saying the company had previously mainly provided components and infrastructure there. The deal is the latest bumper contract won by Siemens after it signed a 900 million euro deal for a new metro line in Sydney, Australia in December. He said Siemens was also looking at other train contracts in India, the world's largest rail market with 24 million passengers travelling daily on more than 22,000 trains.

☆ Siemens Q4 profit beats view; sees persistent demand for hardware, software
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

ZURICH, Nov 17 (Reuters) - German engineering and technology group Siemens (SIEGn.DE) posted a better-than-expected fourth-quarter profit for its industrial business on Thursday and said its factory hardware and software continued to witness strong demand. This made the maker of trains, and industrial software confident for the future, saying it expected revenues to grow by 6% to 9% during its 2023 fiscal year. "Strong demand continues for our hardware and software offerings, including higher than expected growth for our digital business revenue," Chief Executive Officer Roland Busch said. In the three months to Sept. 30, Siemens's industrial profit rose 38% to 3.16 billion euros ($3.28 billion), beating forecasts for 2.79 billion euros in a company-gathered consensus of analysts. Sales increased 18% to 20.57 billion euros - ahead of 19.13 billion euros forecast, while orders during the period rose to a better than expected 21.82 billion euros.

☆ Siemens to separate out 3 bln euro motors and drives business
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

ZURICH, Nov 17 (Reuters) - Siemens (SIEGn.DE) will combine five of its businesses into an independent motors and drives company with revenue of around 3 billion euros ($3 billion), Chief Executive Roland Busch said on Thursday. The German engineering company said its large drives applications and Sykatec, a metal component maker and also part of its portfolio companies, will be joined together. "We're convinced that this integrated motors and large drives provider - with high value creation - will be significantly stronger and more resilient than each business would be if it operated independently." The new company would have 14,000 employees and operate in a market for electrification and power conversion estimated to be worth around 20 billion euros, Siemens said. Siemens will remain active in the industrial motors business via its servo motors business, which makes motors for robots and integrated production lines.

☆ Siemens signs deal to supply equipment for gigafactories JV
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

Gigafactories is a generic term referring to facilities that produce batteries for electric vehicles on a large scale. Under the deal, Siemens will become ACC's preferred supplier for automation, digitalisation and electrification technology. Terms of the partnership, which is part of the Siemens Xcelerator open digital platform launched earlier this year, have not been revealed. "ACC uses virtually the entire spectrum of Xcelerator - from factory construction to production automation to building services," Siemens managing board member Cedrik Neike told Reuters. Siemens on Thursday also announced a deal with electric vehicle company Volta Trucks to deliver electric charging infrastructure for truck customers, to help the transition to electrified vehicles.

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