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

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Siemens AG : Deutsche Bahn Seeks Compensation From Siemens For Delivery Delay-Report

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05/20/2012 | 01:57pm CEST

German railways company Deutsche Bahn AG seeks EUR45 million to EUR50 million compensation from Siemens AG (SI) for the late delivery of 16 ICE-3 trains, Bild am Sonntag says Sunday, attributing its information to industry sources.

The trains should have been in operation with Deutsche Bahn already in 2011 but Siemens would deliver eight to ten ICE-3 trains to the railways company only this year, after a one-year delay, according to Bild am Sonntag, which adds that the trains should be running in December.

Deutsche Bahn chief Ruediger Grube and Siemens Chief Peter Loescher have discussed a 17th ICE train to be delivered free of change, Bild am Sonntag says, adding that Siemens, according to railways experts, has "massive" problems with the suppliers of high-speed trains.

A Siemens spokesman told Dow Jones Newswires that he had no new information on the negotiations between Deutsche Bahn and Siemens, but either a cash penalty or a 17th train is the subject of negotiations.

A train would cost around EUR30 million, and an amount of this magnitude has already been booked since the first quarter, the spokesman said, adding it wasn't clear to him where the reported compensation figure of EUR45 million to EUR50 million came from.

Newspaper website: http://www.bild.de

-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.

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Financials (€)
Sales 2018 83 997 M
EBIT 2018 7 969 M
Net income 2018 5 738 M
Debt 2018 17 637 M
Yield 2018 3,51%
P/E ratio 2018 15,54
P/E ratio 2019 14,15
EV / Sales 2018 1,31x
EV / Sales 2019 1,24x
Capitalization 92 055 M
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Number of Analysts 26
Average target price 130 €
Spread / Average Target 20%
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Josef Kaeser President & Chief Executive Officer
Jim Hagemann Snabe Chairman-Supervisory Board
Ralf Peter Thomas Chief Financial Officer
Roland Emil Busch Chief Technology Officer
Helmuth Ludwig Chief Information Officer
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