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

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Siemens AG : Siemens and the Hellenic Republic reach a settlement agreement and mark a new beginning

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04/05/2012 | 04:40pm CEST

Munich, Germany, 2012-Apr-05

Today, the Hellenic Parliament ratified the settlement agreement between Siemens and the Greek State. This marks the beginning of a new chapter in Siemens' long history in Greece. The Greek Government's commitment to foster growth was one of the pillars on which this agreement was based. This agreement will allow Siemens to continue to be a real supporter. To this end, Siemens will explore actual and substantial areas of investment in Greece, with special emphasis to sectors which increase employment and support the economy.

In total, this settlement will reach approximately 270 million Euro. In this context, Siemens waives claims of €80 million that concern implemented projects and the delivery of equipment to the Greek State. Siemens will dispense up to the amount of 90 million Euro for transparency initiatives and anti-corruption programs, as well as for academic and research programs that aim at enhancing Greece's competitiveness. Finally, Siemens will spend over €100 million, in order to enhance its activities in Greece and preserve a significant number of jobs in the local market.

The company is committed to ensure going forward, full and overall compliance to sound corporate principles.

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Financials (€)
Sales 2016 79 585 M
EBIT 2016 7 609 M
Net income 2016 5 328 M
Debt 2016 17 343 M
Yield 2016 3,83%
P/E ratio 2016 14,52
P/E ratio 2017 13,14
EV / Sales 2016 1,23x
EV / Sales 2017 1,17x
Capitalization 80 597 M
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 100 €
Spread / Average Target 5,7%
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Managers
NameTitle
Josef Kaeser Chairman-Management Board
Gerhard Cromme Chairman-Supervisory Board
Ralf Peter Thomas Chief Financial Officer
Siegfried Russwurm Chief Technology Officer
Michael Diekmann Member-Supervisory Board
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