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Siemens AG (SIEGY)

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  • Tue, Mar. 31, 7:23 AM
    • Siemens (OTCPK:SIEGY) will confirm its full-year forecasts when it reports quarterly results in May, a senior company source told Reuters.
    • "Business is running exceptionally stably, according to plan," the source said.
    • The person also added that Siemens saw no prospect of having to write down U.S. oilfield equipment maker Dresser-Rand (NYSE:DRC) (which it agreed to buy for $7.6B) despite the steep drop in oil prices since the deal was struck last year.
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  • Fri, Feb. 27, 6:12 PM
    • Dresser-Rand (NYSE:DRC) says it will cut 8% of its global workforce, or ~650 jobs, because of the weak oil price environment, "taking appropriate measures to continue its emphasis on operating earnings growth, even in what is expected to be a relatively stable year in sales in 2015."
    • DRC says the cutbacks are in response to ongoing market conditions and not in anticipation of its merger with Siemens (OTCPK:SIEGY).
    • In its Q4 earnings report, DRC says results were hurt by several events - including the cost of the merger transaction, the price of oil and the movement in several non-U.S. dollar based trade currencies - that it believes masks an otherwise a strong operating performance.
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  • Nov. 13, 2014, 7:16 AM
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  • Jul. 31, 2014, 12:45 PM
    • Siemens (OTCPK:SIEGY -0.2%) reports FQ3 net profit of €1.37B ($1.84B), up 28% Y/Y, but revenue declined 3.7% to €17.92B from €18.61B and order intake fell 3.5% to €19.41B.
    • Profit jumped 51% Y/Y to €548M at Siemens' industry and infrastructure divisions for factory equipment and trains, but energy profit fell 5.8% to €405M, and CEO Joe Kaeser warns that the energy business faces challenges as global conflicts increasingly threaten expansion plans.
    • The infrastructure and cities sector reported a €350M profit after a €23M loss in the year-ago quarter.
    • Recorded €155M in charges for delays to power transmissions projects, adding to more than €1.1B in such costs since 2011 and €350M for late train deliveries.
    • Affirmed earlier guidance for the fiscal year ending in September, and said it continues to expect EPS to increase at least 15%.
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  • May 7, 2014, 9:15 AM
    • Siemens (SI) +2.2% premarket after reporting what it calls a "mixed" FQ2 earnings performance, as net profit rose 11% Y/Y to €1.12B ($1.6B), citing its efficiency program and higher earnings from its infrastructure, health care and manufacturing equipment divisions.
    • But new orders fell 13% to €18.43B vs. the year-ago period which was boosted by large wind turbine and train contracts.
    • Revenues fell 1.9% because of unfavorable exchange rates and a lower volume of large orders.
    • Reaffirms FY 2014 guidance for an EPS increase of at least 15% from €5.08 last year and revenues of at least at FY 2013 levels (€75.9B).
    • Results "showed that we still have a lot to do to improve our operating performance," CEO Joe Kaeser says, and he's hoping the sweeping restructuring announced yesterday will do the job.
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  • Jan. 28, 2014, 2:13 AM
    • Siemens' (SI) FQ1 net profit climbed 20% to €1.46B ($1.99B) after the year-earlier figure was dragged down by special charges.
    • Revenue dropped 3% to €17.325B.
    • Income from continuing operations +21% to to €1.39B, topping forecasts of €1.33B.
    • Total sectors profit +15% to €1.79B, "highlighted by a strong performance in Infrastructure & Cities." Consensus was for €1.86B.
    • New orders at continuing operations rose 9% to €20.83B, due mainly to large contracts for trains and wind turbines.
    • Siemens reiterates that it expects growth of 15% in 2014 EPS.
    • Development and demand in emerging markets were still "pretty strong" despite a 4% fall in sales in those regions, CEO Joe Kaeser says, adding that he wouldn't be too surprised if there was to be "an uptick in China's economy" soon. (PR)
    • Siemens intends to delist its American Depositary Receipts from the New York Stock Exchange in order to cut costs and lower the complexity of its financial reporting. (PR)
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  • Dec. 5, 2013, 7:06 AM
    • Siemens (SI) expects profit margins at its struggling infrastructure and cities (I&C) division to rise to about 7% of sales this FY from 1.6% a year earlier.
    • The improvement in the performance of the business is due to restructuring and a clearer focus on high-margin contracts.
    • There has been much speculation that newish CEO Joe Kaeser could restructure or even break up the I&C amid a series of setbacks, such as a two-year delay to the delivery of high-speed trains to Germany's national railway company.
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  • Nov. 7, 2013, 2:33 AM
    • Siemens' (SI) FQ4 income from continuing operations fell 13% to €1.08B but topped forecasts of €997M.
    • Net profit fell 10.1% to €1.07B. FY EPS +7.2% to €5.08.
    • FQ4 revenue slipped 1.3% to €21.2B.
    • Operating profit from Siemens' four main businesses - Industry, Energy, Healthcare and Infrastructure & Cities - slumped 17% to €1.61B.
    • Excluding currency effects, incoming orders rose 3%.
    • Took €688M charge related to its €6B savings program.
    • Siemens expects its FY 2014 EPS to rise 15%, although analysts forecast growth of 31%.
    • Intends to buy back up to €4B of stock over the next two years.
    • Declares dividend of €3 a share for last FY.
    • Siemens' results come after it said yesterday that it has agreed to sell part of its water-technologies division to private-equity firm AEA Investors for €640M. (PR)
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  • Jul. 31, 2013, 7:59 AM
    • Siemens' (SI) FQ3 net income +43% to €1.1B, boosted by a positive profit contribution from discontinued operations, particularly Osram, which has been spun off.
    • Revenue -2% to €19.25B.
    • Orders +19% to €21.1B.
    • Order backlog reaches a new record of €102B; book-to-bill ratio 1.1.
    • Sectors profit fell primarily due to Q3 charges of €436M for the "Siemens 2014" productivity improvement program.
    • Income from continuing -13% to €1B.
    • Basic net EPS rises to €1.27 from €0.85 a year earlier.
    • Free cash flow from continuing ops increases to €973M from €899M.
    • For FY 2013, Siemens expects: income from continuing ops of €4B, including the solar business and NSN; moderate organic revenue decline, order growth; charges of €1B for Siemens 2014 program. (previous) (PR)
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  • Jul. 31, 2013, 7:20 AM
    • As expected, Siemens (SI) has fired CEO Peter Loescher after six years in the job and four years before the end of his contract, and replaced him with CFO Joe Kaeser.
    • Loescher has paid for a string of missed-earnings targets, bungled acquisitions, as well as an expensive and ill-fated green-energy strategy.
    • Siemens' FQ3 total sectors profit - operating profit for its four main businesses - slumps 31% to €1.26B vs consensus of €1.41B. (PR)
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  • May 2, 2013, 5:37 AM
    Siemens' (SI) FQ2 net income from continuing operations of €982M (+0.4% Y/Y) misses estimates . Revenue falls 6.7%, coming in at €18B. The company cuts its full year guidance, saying net income will be in the low end of its range (€4.5-5B) — a weak economic environment and charges associated with ill-fated solar and wind projects were cited as reasons for the lowered profit projections.
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  • Jan. 23, 2013, 3:28 AM
    More on Siemens (SI) FQ1: order intake -3.3% to €19.1B vs consensus of €18.9B. Forecasts that FY profit will drop to €4.5-5B from €5.18B last year, due to €1B of costs from €6B savings program. Profit across four core business sectors +4.4% to €1.7B: energy +12%, healthcare +38%, industry -10%, infrastructure & cities -36%. However, warns of weak industrial demand while solar-energy unit loses €150M. Shareholders due to vote today on spinning off Osram. Shares -1% in Frankfurt.
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  • Jan. 23, 2013, 3:03 AM
    Siemens (SI): FQ1 net income from continuing operations -1.4% to €1.3B, as reported in the press, and vs consensus of €1.18B. Revenue +1.5% to €18.1B, a bit above the speculated figure of €17.9B but in line with Street predictions. "There was good profitability in the healthcare and energy sectors," says Commerzbank analyst Ingo-Martin Schachel, although "the short-cycle segments in the industry sector were relatively weak." (PR)
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  • Jan. 22, 2013, 4:18 AM
    Siemens' (SI) FQ1 net profit from continuing operations was reportedly little changed at €1.3B, above consensus of €1.14B, while revenue was also flat at €17.9B and missed forecasts of €18.1B. Earnings were hurt by a triple-digit million euro hit following delays in the delivery of high-speed trains to Deutsche Bahn, and by Siemens' exit from its solar business. New orders were above sales. Shares -1.6% premarket.
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  • Nov. 8, 2012, 3:52 AM
    More on Siemens (SI) FQ4: Expects net profit from continuing ops to fall to €4.5B-€5B in FY 2013 from €5.18B last year, due to about €1B of costs from its savings program and the effect of plans to change its accounting standards. Agrees to acquire Belgian industry software maker LMS International for €680M and sell water businesses with revenue of €1B a year.
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  • Nov. 8, 2012, 3:45 AM
    Siemens (SI): FQ4 net profit from continuing ops -2% to €1.48B vs consensus of €1.34B, with earnings hurt by a €327M hit at its oil and gas business in Iran because of sanctions. Revenue +7% to €21.7B. Plans to slash €6B in costs by end of FY 2014 and increase operating margins from four core businesses to at least 12% from 9.5% last year. (PR)
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Company Description
Siemens AG is engaged in electronics and electrical engineering. The Company operates in sectors such as Industry, Energy and Healthcare.
Sector: Technology
Country: Germany