Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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

SIEMENS (SIE)
Mes dernières consult.
Most popular
Delayed Quote. Delayed  - 07/21 05:35:02 pm
115.95 EUR   -1.82%
06:01a SIEMENS : Germany says Crimean turbine scandal souring relations wit..
07/22 SIEMENS : Tolo 1 wind farm
07/22DJSIEMENS : Train Makers Explore Merger -- WSJ
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Siemens AG : Siemens Counts on Energy Business to Reach Cost-Saving Target

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/11/2012 | 10:39pm CEST

German industrial conglomerate Siemens AG (SIE.XE, SI) said Tuesday it expects the company's energy business to account for more than half of its announced goal of cutting six billion euros ($7.8 billion) in costs by 2014.

Siemens expects improvement in productivity to help save up to EUR3.2 billion in its energy business, including positive effects from efficient procurement practices.

From cost-cutting measures only, Siemens aims to save around EUR2.2 billion in its energy business.

By 2014, the company aims to raise the profit margin of the energy business to at least 12%, from 7.8% in fiscal year 2012.

The power transmission unit, a segment of Siemens's energy business, will cut another 800 jobs by 2015, Power Transmission Unit Chief Executive Karlheinz Springer said. The company aims to reduce the number of employees by 8% by 2015, he added. Overall, 1,900 of the unit's 23,500 employees world-wide will be affected.

Power Transmission's production site in Grenoble will be closed, while employee numbers at its German sites in Nuremberg and Berlin will be reduced, Mr. Springer said.

However, new jobs will be created in China, India and Mexico, the company said, without providing any details.

Siemens may consider restructuring its product portfolio to cut costs, as well. The company may withdraw from the manufacturing of nonnuclear components used in nuclear power plants, said Michael Suess, a Siemens board member responsible for the energy business.

The company may also re-evaluate its business offering power generation solutions using steam turbines. However, the company doesn't plan "too many" portfolio changes, Mr. Suess said.

Recently, Siemens had announced plans to exit the solar-thermal energy business.

"We are well-placed and will focus on our core business and other lucrative market segments in the next two years," Mr. Suess said at the company's Energy Capital Market Day.

--Tapan Sharma contributed to this article.

Write to Ursula Quass at ursula.quass@dowjones.com

Corrections & Amplifications

This article was corrected on December 13, 2012 11:36 GMT to clarify that the misstatement that the French site in Grenoble will be closed in the sixth paragraph, when only the production line will be closed, not its other operations there.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SIEMENS
06:01a SIEMENS : Germany says Crimean turbine scandal souring relations with Russia
07/22 SIEMENS : Tolo 1 wind farm
07/22DJSIEMENS : Train Makers Explore Merger -- WSJ
07/21DJSIEMENS : and Bombardier in Talks to Form Train Joint Ventures -- Update
07/21 Siemens, Bombardier near deal on transportation tie-up, sources say
07/21 Siemens, Bombardier near deal on transportation tie-up, sources say
07/21 SIEMENS : Cuts Ties With Russian State Companies Over Crimea Breach
07/21DJSIEMENS : and Bombardier in Talks to Form Train Joint Ventures -- Sources
07/21DJSIEMENS : Cuts Russia Presence After Turbines End Up in Crimea -- 2nd Update
07/21 SIEMENS : fumes as worst suspicions on Crimea turbines confirmed
More news
News from SeekingAlpha
07/21 REUTERS : Siemens, Bombardier near deal to merge rail operations
07/21 WALL STREET BREAKFAST : Confidence In Bitcoin Is Back
07/21 Siemens exits Russian joint venture
07/20 Latest on Siemens turbines in Crimea
07/19 Tesla Investors Swallow The Blue Pill
Financials (€)
Sales 2017 84 884 M
EBIT 2017 9 322 M
Net income 2017 6 185 M
Debt 2017 18 804 M
Yield 2017 3,32%
P/E ratio 2017 15,21
P/E ratio 2018 14,58
EV / Sales 2017 1,38x
EV / Sales 2018 1,29x
Capitalization 98 558 M
Chart SIEMENS
Duration : Period :
Siemens Technical Analysis Chart | SIE | DE0007236101 | 4-Traders
Technical analysis trends SIEMENS
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 133 €
Spread / Average Target 15%
EPS Revisions
Managers
NameTitle
Josef Kaeser President & Chief Executive Officer
Gerhard Cromme Chairman-Supervisory Board
Ralf Peter Thomas Chief Financial Officer
Helmuth Ludwig Chief Information Officer
Michael Diekmann Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
SIEMENS-0.73%114 908
GENERAL ELECTRIC COMPANY-18.01%225 001
3M18.25%126 113
HONEYWELL INTERNATIONAL17.70%103 945
DUPONT15.18%73 299
ILLINOIS TOOL WORKS INC.20.28%50 881