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4-Traders Homepage  >  Equities  >  Xetra  >  Siemens    SIE   DE0007236101

SIEMENS (SIE)
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Siemens : Russian Firm Tries to Annul Turbine Purchase in Siemens Lawsuit

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10/16/2017 | 04:16pm CEST

By Max Bernhard

Russia's Technopromexport demanded to annul parts of a sales agreement between it and Siemens AG (SIE.XE) for four gas turbines, the German company said Monday. The sales agreement is already the subject of a lawsuit brought against the Russian company by Siemens.

Siemens said it was aware of the counter claim and would respond in a court hearing scheduled for Wednesday, Oct. 18. The German corporation did not provide further comment, citing ongoing court proceedings.

In July, Siemens filed a lawsuit against Technopromexport, a subsidiary of Russia's state-owned Rostec State Corp, after learning that four turbines sold to the company and intended for use in Russia had ended up in Russian-occupied Crimea--possibly violating European Union sanctions.

With the lawsuit, the German corporation aims to revoke the deal. A first attempt by Siemens to have the turbines confiscated via an interim court order failed in August.

Write to Max Bernhard at [email protected]

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Financials (€)
Sales 2017 84 176 M
EBIT 2017 8 727 M
Net income 2017 6 395 M
Debt 2017 18 643 M
Yield 2017 3,21%
P/E ratio 2017 15,61
P/E ratio 2018 15,58
EV / Sales 2017 1,42x
EV / Sales 2018 1,34x
Capitalization 101 B
Chart SIEMENS
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Siemens Technical Analysis Chart | SIE | DE0007236101 | 4-Traders
Technical analysis trends SIEMENS
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 131 €
Spread / Average Target 9,7%
EPS Revisions
Managers
NameTitle
Josef Kaeser President & Chief Executive Officer
Gerhard Cromme Chairman-Supervisory Board
Ralf Peter Thomas Chief Financial Officer
Roland Emil Busch Chief Technology Officer
Helmuth Ludwig Chief Information Officer
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