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
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 [email protected]

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
05:02p SIEMENS GAMESA RENEWABLE ENERGY : will deliver its D8 platform for Yeu Noirmouti..
02:28p SIEMENS : Gamesa to supply 8 MW offshore wind turbines for French projects
01:51p SIEMENS : MILITARY $63,440 Federal Contract Awarded to Siemens Demag Delaval Tur..
12:28p SIEMENS GAMESA RENEWABLE ENERGY : to deliver D8 wind turbines to French projects
09/19 SIEMENS : J-- DBAC Air End Overhaul
09/19 SIEMENS : Fifth major rail order for Siemens in Bangkok
09/19 SIEMENS : presents latest upgrade of SGT-800 turbine at Power-Gen Asia
09/18 SIEMENS : Russian Court Postpones Hearing On Siemens' Crimea Turbines Lawsuit
09/18 O&GME TOP 30 OILFIELD SERVICES COMPA : 11-15
09/18 SIEMENS : to showcase gas turbine upgrade Power-Gen Asia
More news
News from SeekingAlpha
03:55p GENERAL ELECTRIC : A 5% Yield On Its Way?
01:23p Daily OTC Markets Round-Up - 9/19/2017
09/19 Daily OTC Markets Round-Up - 9/18/2017
09/14 Siemens to set up robotics center in China
09/05 Oppenheimer Global ESG Revenue ETF (ESGF) August Summary
Financials (€)
Sales 2017 84 201 M
EBIT 2017 8 993 M
Net income 2017 6 413 M
Debt 2017 18 652 M
Yield 2017 3,30%
P/E ratio 2017 15,11
P/E ratio 2018 15,04
EV / Sales 2017 1,39x
EV / Sales 2018 1,31x
Capitalization 98 600 M
Chart SIEMENS
Duration : Period :
Siemens Technical Analysis Chart | SIE | DE0007236101 | 4-Traders
Technical analysis trends SIEMENS
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 130 €
Spread / Average Target 12%
EPS Revisions
Managers
NameTitle
Josef Kaeser President & Chief Executive Officer
Gerhard Cromme Chairman-Supervisory Board
Ralf Peter Thomas Chief Financial Officer
Helmuth Ludwig Chief Information Officer
Michael Diekmann Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
SIEMENS0.04%118 463
GENERAL ELECTRIC COMPANY-22.59%209 522
3M19.48%127 446
HONEYWELL INTERNATIONAL19.94%104 768
JARDINE STRATEGIC HOLDINGS LIMITED38.86%51 374
ILLINOIS TOOL WORKS INC.18.93%50 934