|Bid||0.00 x 0|
|Ask||1,192.80 x 0|
|Day's Range||1,176.20 - 1,204.60|
|52 Week Range||1,026.30 - 1,471.35|
|PE Ratio (TTM)||14.78|
|Earnings Date||Aug 2, 2017 - Aug 7, 2017|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1,277.86|
Siemens employees protested in various German cities on Friday against the company's proposal to cut 6,900 jobs, which a senior Siemens official said could be revised after negotiations with the union. Siemens said on Thursday it wanted to cut about 6,900 jobs, or close to 2 percent of its global workforce. IG Metall, Germany's largest trade union, called for the protests in Berlin and the city of Offenbach near Frankfurt, urging Siemens to revise plans it said would harm the company.
Siemens (SIEGn.DE) will cut about 6,900 jobs, or close to 2 percent of its global workforce, mainly at its power and gas division, which has been hit by the rapid growth of renewables. Most of the cuts, about 6,100, will be made before 2020 at Siemens's Power and Gas division, which once thrived on supplying large gas turbines for electricity generation but has been overtaken by the global surge in solar and wind capacity. "The power generation industry is experiencing disruption of unprecedented scope and speed," Siemens management board member Lisa Davis said.
German engineering company Siemens (SIEGn.DE) reported a worse than expected 10 percent drop in quarterly industrial profit and signalled a tough year ahead as it restructures its turbine and wind power businesses. Siemens is shedding operations as it seeks to shrug off its conglomerate structure and remodel itself as an industrial software company. Industrial profit came in at 2.2 billion euros (£1.9 billion) for the quarter to the end of September, below the lowest estimate in a Reuters poll of analysts, in which forecasts averaged 2.49 billion euros.
Siemens (SIEGn.DE) sees no future for old-school conglomerates, its chief executive said on Thursday as the German industrial group prepares for a year of change. "We have understood that conglomerates of the old-fashioned kind have no future," Joe Kaeser told a news conference after the company reported a 10 percent drop in fourth-quarter industrial profit. Siemens is preparing to list its 40 billion-euro (35.34 billion pounds) healthcare business, has put its wind-power business into a joint venture and is preparing to do the same with its rail business.
German industrial group Siemens (SIEGn.DE) plans to replace the finance chief of healthcare unit Healthineers in preparation of a public listing that is expected to value the business at around 40 billion euros (35.34 billion pounds). Jochen Schmitz, Siemens' head of accounting, reporting and controlling and a former manager at the healthcare unit, will replace Thomas Rathmann on Dec. 1, Siemens said on Thursday, adding that Rathmann was leaving by mutual agreement.
FRANKFURT (Reuters) - Germany's Siemens said on Tuesday it would end a cooperation with SMA Solar at the end of the year and build its own solar inverters in India. It said it would present its new portfolio ...
German industrial group Siemens (SIEGn.DE) sees room for compromise to balance the interests of shareholders and employees in a coming massive restructuring of its power-generation unit, a senior manager said. The Munich-based group is expected to cut thousands of jobs as demand has collapsed and is unlikely to return for large turbines that have been replaced by renewable energy in Germany and beyond. News of the likely cutbacks has sparked outrage in Germany, where many Siemens Power and Gas division plants are in the economically deprived east.
BERLIN (Reuters) - Siemens Gamesa (SGREN.MC) said on Monday it plans to cut as many as 6,000 jobs worldwide as it braces for sales to plunge by as much as a fifth next year. The job cut would amount to ...
Siemens' chief executive has defended the German industrial group against government accusations that its planned job cuts could encourage right-wing populism in economically weak areas of the former East Germany. Siemens may cut thousands of jobs in an overhaul of its power and gas business, which is struggling with low demand for large gas turbines, especially in Germany where Berlin has speeded up a shift towards renewable energy. CEO Joe Kaeser, in a letter to Economy Minister Brigitte Zypries cited by Der Spiegel magazine on Friday, said Berlin shared the blame for capacity adjustments that were now necessary as a result of Germany's abrupt switch to renewables.
Germany's economics minister urged Siemens AG on Friday to rethink planned job cuts and said job losses, particularly in economically weaker areas of the former East Germany, could spur an increase in right-wing populism. Siemens may cut thousands of jobs as part of plans to overhaul its power and gas business, which is struggling with lower worldwide demand for large electricity generating turbines, a person familiar with the plans told Reuters last week. The minister, Brigitte Zypries, told Siemens CEO Joe Kaeser in a letter published by Bild newspaper that job losses in the former Communist east could have negative consequences.
Siemens Gamesa (SGREN), the world's second-largest maker of wind turbines, has won an order to supply one of Europe's largest onshore wind projects, it said on Thursday. The group, which emerged from the merger of Gamesa and the wind energy unit of Siemens (SIEGn.DE), will supply 67 turbines with a combined capacity of 281.4 megawatts (MW) to the Norwegian onshore wind project Nordlicht. As a rule of thumb, onshore wind projects cost about 1 million euros per megawatt, which would give the project a value of close to 300 million euros (£267.52 million).
Germany's Siemens AG has mandated Goldman Sachs, Deutsche Bank and JP Morgan as lead organisers of an initial public offering (IPO) of its Healthineers unit, sources familiar with the matter said. Siemens confirmed it had awarded so-called global coordinator mandates to banks to float the maker of medical equipment such as x-ray and MRI machines, but declined to name them.
Spanish utility Iberdrola (IBE.MC) used its influence to change the management of Siemens Gamesa (SGREN.MC) on Friday after the wind-power joint venture suffered two profit warnings in less than three months. Germany's Siemens (SIEGn.DE) has a controlling stake of 59 per cent in Spanish-based Siemens Gamesa but Iberdrola, with an 8 percent stake, has a say in some governance matters thanks to a deal signed when Siemens Wind agreed to merge with Gamesa last year.
Siemens (SIEGn.DE) may cut thousands of jobs as part of plans to overhaul its power turbine business, where growth in renewable energy is dampening demand for new coal and gas power stations, a person familiar with the matter said. "Various scenarios are being considered," the source said, adding that details of the changes at the Power & Gas division were still to be decided. German monthly Manager Magazin earlier cited company sources as saying that Siemens could shut or sell up to 11 of its 23 Power & Gas sites around the world, which could include plants in the eastern German cities of Erfurt and Goerlitz.
FRANKFURT (Reuters) - Siemens (SIEGn.DE) is planning restructuring at its Process Industries business as well as at Power & Gas, news agency Bloomberg reported on Thursday, citing sources. It said job ...
Russian President Vladimir Putin will meet a representative of Siemens along with businessmen from other German firms on Thursday, Kremlin aide Yuri Ushakov said on Monday, Russian news agencies reported. Siemens said earlier this year it was reviewing aspects of its dealings with Russia after four of its power-generating turbines were delivered to Crimea, which is subject to European sanctions on technology supplies after Russia annexed the area. "This meeting is being arranged on the initiative of the Eastern Committee of the German Economy," Ushakov told a news briefing with reporters, the TASS news agency said.
German engineering firm Siemens (SIEGn.DE) has sold its remaining 17 percent stake in Osram Licht (OSRn.DE) for 1.2 billion euros (1.06 billion pounds) to institutional investors, severing links with the lighting group. Osram, listed by Siemens in July 2013, clashed last year with its biggest shareholder and former parent company over its new strategy of expanding in the general LED lighting market. Siemens said in a statement on Wednesday that net proceeds from the sale will be used for general corporate purposes, adding it would retain a small number of Osram shares to service a Siemens bond plus warrant issue due in 2019.
German engineering firm Siemens is ready to participate in the modernisation of power plants in Russia, the head of its Russian branch said on Wednesday. "Around 50 percent of stations require modernisation and Siemens is ready (to consider) offers," Dietrich Moeller, the head of Siemens Russia, said at an energy conference in Moscow.