What is Siemens?
Siemens (SIE) is a global diversified company engaged in electrical engineering and electronics. It is one of the world’s biggest producers of energy-efficient technologies, and a leading supplier of systems for power generation and transmission as well as medical diagnosis. Siemens prides itself on its pioneering role in infrastructure and industry solutions.
The company offers products and solutions via the following business units: Building Technologies, Energy Management, Digital Factory, Financial Services, Healthcare, Mobility, Power Generation Services, Power and Gas, Process Industries and Drives, and Wind Power. Siemens Real Estate is responsible for the management of the company’s real estate holdings.
Who are the key people at Siemens?
Joe Kaeser has served as President and Chief Executive Officer of Siemens AG since August 2013. He has been with the company since 1980. Other key figures at Siemens AG include Dr. Roland Busch (Chief Technology Officer) and Dr. Ralf P. Thomas (Chief Financial Officer).
What is the modern history of Siemens?
Siemens traces its history all the way back to 1847, when inventor Werner von Siemens established a telegraph construction company in Berlin. The business grew rapidly, expanding into global markets and becoming a worldwide corporation. In the 1950s it entered new lines of business such as data processing.
Siemens AG was founded in 1966, and in 1989 its organisation was overhauled to make its individual units more autonomous. In 1998 Siemens launched a Ten-Point Program under which it retained only those activities in which it was first or second in the global market.The price of Siemens stock soared, and revenues and profits improved substantially.
Following the so-called “compliance crisis” of 2006, which led to a €1.2 billion penalty, Siemens replaced a large number of senior managers and brought in former German finance minister Theo Waigel to oversee its compliance efforts.
What are the latest developments at Siemens?
In its full year 2017 financial results, Siemens reported revenue up 4% to €83.0 billion; orders remaining strong at €85.7 billion; and net income up 11% to €6.2 billion. Basic earnings per share (EPS) were €7.44, well within the guidance range.
CEO Joe Kaeser said: “Our global team delivered excellent results in fiscal 2017, surpassing even the historic success of last year. Most businesses are stronger than ever and well equipped for the digital age. Nevertheless, we have to tackle structural issues in some individual businesses. There is a lot of work ahead of us in fiscal 2018.”
The Siemens share price advanced strongly after the global financial crisis, rising from €38 in March 2009 to €100 in January 2014 and €132 in May 2017. As of 10 April 2018 the share price had slipped back to €105, giving the company a market capitalisation of around €89.40 billion. To find out how the shares are doing right now, follow Capital.com. Our SIE chart puts all the information at your fingertips.
Where does Siemens operate?
Siemens is headquartered in Berlin and Munich, and employs approximately 377,000 people around the world. It is a truly global company, with production and manufacturing plants, office buildings, warehouses and R&D facilities right across the globe. Siemens has a presence in North & South America, in most European countries, in key markets in the Asia-Pacific region, and on the African continent (Egypt, Morocco, Mozambique, South Africa and other countries).
Where is Siemens traded?
Siemens stock is listed on the Deutsche Börse and is a constituent of Germany’s benchmark DAX 30 index. Check out Capital.com for the latest SIE chart. We’ll keep you up to date and in the picture.