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Siemens AG (SIEGY)

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  • Apr. 28, 2014, 8:10 AM
    • French President Francois Hollande doesn't oppose GE's (GE) proposal to acquire Alstom's (ALSMY) energy assets, Bloomberg reports.
    • Hollande's view is different from that of Industry Minister Arnaud Montebourg, who supports a deal in which Alstom would swap its energy operations for some of Siemens' (SI) rail business.
    • Hollande and GE CEO Jeff Immelt held talks in Paris today in a meeting that focused on protecting jobs and ensuring that France’s nuclear industry remains independent. Hollande is due to meet Siemens CEO Joe Kaeser and Chairman Gerhard Cromme as well.
    • GE argues that its proposal would lead to fewer job cuts, as it has smaller overlaps with Alstom, while Siemens is willing to make guarantees about jobs and executive positions.
    • Meanwhile, Germany's government hopes Siemens wins out, Reuters reports, believing that it would be a great opportunity for France and Germany.
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    | 1 Comment
  • Apr. 28, 2014, 3:40 AM
    • Siemens (SI) has reportedly offered to swap its train business with Alstom's (ALSMY) energy operations and make an additional cash payment.
    • Siemens is also willing to meet or even top an offer from GE (GE) for Alstom's energy assets that values the French group at $13B, and it has made guarantees about jobs, management positions and locations.
    • Siemens would consider a straight purchase of Alstom's energy business as well; either way, the German company has the backing of the French government, although GE's bid might encounter less EU regulatory opposition.
    • GE CEO Jeff Immelt is set to meet French President Francois Hollande and Economy Minister Arnaud Montebourg today to discuss Alstom. Immelt was due to meet Montebourg yesterday, but the latter postponed the talks.
    • Previously
    | 3 Comments
  • Apr. 27, 2014, 4:20 AM
    • Siemens (SI) has sent a letter to Alstom (ALSMY) saying that it's willing "to discuss future strategic opportunities."
    • The correspondence follows a report yesterday that France's government has approached Siemens about a possible alternative offer for Alstom to one from GE.
    • The latter's CEO, Jeff Immelt, was set to meet French Industry Minister Arnaud Montebourg today to discuss the company's possible bid for Alstom's (ALSMY) energy assets.
    | 4 Comments
  • Apr. 25, 2014, 7:29 AM
    • Siemens (SI) intends to delist its American Depositary Receipts from the NYSE on May 15.
    • The German conglomerate had announced the plan in January due to low trading volume in the U.S. but didn't provide a date. (PR)
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  • Apr. 21, 2014, 9:59 AM
    • Siemens (SI +0.3%) and Chinese car maker Beijing Automotive Industry form a joint venture to make engines for hybrid and electric vehicles, in the first electric engine joint venture for Siemens in China; BAIC also has partnerships with Hyundai and Daimler.
    • The JV will use SI's electric drive components for a range of BAIC vehicles; small volume production of the electric drive trains will begin this year, with mass production of 100K-plus units starting in 2015 at a new Beijing-based factory.
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  • Mar. 31, 2014, 7:11 AM
    • Siemens (SI) has received an order worth around €200M for 50 locomotives from European Locomotive Leasing, a new company backed by KKR (KKR) as part of an attempt to profit from the liberalization of rail traffic in Europe.
    • KKR will provide 30-40% of the financing for the order, with the rest to be covered by debt financing.
    • ELL will focus on freight and compete with the operators such as Railpool and Mitsui-backed MRCE. (PR)
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  • Mar. 26, 2014, 6:17 PM
    • Siemens (SI) CEO Joe Kaeser handed Vladimir Putin a propaganda victory today when he met the Russian president in Moscow and talked up Germany and Russia's special economic relationship.
    • Siemens isn't the only company continuing to conduct business in Russia; German industry has been working in effect to establish an informal diplomatic channel in a bid to prevent an all-out economic war.
    • Germany is among Russia's top economic partners, with €56.3B in total trade between the two countries last year; Siemens' €2.17B in Russian sales for the fiscal year through September accounted for 2.9% of the company's total revenue.
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  • Mar. 18, 2014, 7:42 AM
    • Siemens (SI) has received a €165M ($230M) order from five U.S. states for 32 diesel-electric passenger locomotives that will be powered by engines from Cummins (CMI).
    • The deal includes options for an extra 225 locomotives, which could be worth at least $1.5B.
    • Siemens' confirmation comes a day after Caterpillar (CAT) said it had filed a complaint about the decision, arguing that various procedures and requirements were ignored in the assessment of the German company's offer.
    | 5 Comments
  • Mar. 6, 2014, 7:18 PM
    • The very notion of global warming used to anger most energy executives, but anti-environment rhetoric was dialed way back at this week's CERAWeek industry conference in Houston.
    • "You can't argue with a rock," says BHP Billiton (BHP) CEO Andrew MacKenzie, whose geology training makes it clear to him that climate change is real and must be addressed; the telltale signs of a warming climate, he says, are baked right into the layers of earth his company digs up and drills through every day.
    • Skepticism over the Obama administration also seemed on the wane, as EPA Administrator Gina McCarthy told attendees that looming new power plant rules would not "put the brakes on business"; Duke Energy's (DUK) Lynn Good is "encouraged" by McCarthy's approach - but says building new coal plants are not worth the regulatory risk.
    • But skepticism of renewable energy abounds, with Eni's (E) Paolo Scaroni noting that Europe is realizing that renewables are "more a problem than a solution”; Siemens (SI) CEO Joe Kaeser says “using solar panels in Germany is like growing pineapples in Alaska."
    | 16 Comments
  • 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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  • Jan. 13, 2014, 5:29 PM
    • Three sources tell Bloomberg Alcatel-Lucent (ALU) is in talks to sell its struggling enterprise hardware/software unit to a group of potential buyers that includes Unify GmbH, a JV between Siemens (SI) and P-E firm Gores Group that provides unified communications products for businesses.
    • The would-be buyers are said to be preparing second-round bids ahead of a possible March decision. One source thinks the Alcatel unit, which had 2012 sales of ~$1B, could sell for €250M ($343M).
    • Reuters reported in November Alcatel, which has promised to shed €1B worth of assets by 2015, is thinking of selling the business. Last month, the company sold its LGS Innovations unit (provides networking hardware/software for U.S. federal agencies), for up to $200M.
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  • Dec. 23, 2013, 6:05 PM
    • Carlyle Group (CG) appears to be the leader to acquire Johnson & Johnson's (JNJ) clinical diagnostics unit, beating out P-E peer Blackstone (BX) and its partner Danaher (DHR), Reuters reports.
    • The exact price of CG's offer is not known, but a deal likely would fetch ~$4B and could be completed within the next two weeks.
    • JNJ's ortho clinical diagnostics unit makes blood-screening equipment and laboratory blood tests; it's a small player in a market led by Roche (RHHBY, RHHBF), Siemens (SI), Abbott Labs (ABT) and DHR.
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  • Dec. 23, 2013, 10:07 AM
    • Siemens (SI +0.5%) signs a contract with the Cape Wind project for the construction of the first utility-scale offshore wind farm in the U.S., off the New England coast.
    • SI will supply Cape Wind with 3.6 MW offshore wind turbines, an offshore electric service platform and a long-term service agreement; when fully built, the wind farm will have a capacity of 468 MW.
    • No financial details are supplied.
    | 2 Comments
  • Dec. 23, 2013, 8:43 AM
    • Broadwind Energy (BWEN) +7.7% premarket after announcing new tower orders from Siemens (SI); BWEN has recorded $389M in new tower orders YTD.
    • "With this new order of more than 200 towers, the majority of orders for the MidAmerican Energy wind project are now in our backlog and we have clear visibility into the second half of 2015," CEO Peter Duprey says.
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  • Dec. 20, 2013, 10:36 AM
    • Siemens (SI +0.2%) looks set to book an order for 80 electric locomotives worth some €300M.
    • The deal (with Finnish Railways) also includes an option on nearly 100 more trains.
    • Delivery is expected to take place over a decade beginning in 2016.
    • This looks to be the biggest contract so far for the company's new Vectron locomotive.
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  • Dec. 17, 2013, 3:24 PM
    • Broadwind Energy (BWEN +14.4%) is set to be a major beneficiary of Siemens $1B-plus power contract with MidAmerican Energy, supplying the towers for the 448 wind turbines that will equip five wind power projects in Iowa.
    • The move by Warren Buffett’s utility company shows how a drop in equipment costs is making renewable energy more competitive with power from fossil fuels - a boost for suppliers including BWEN, Siemens (SI), GE and Vestas (VWDRY, VWSYF), and a threat to coal miners (KOL).
    • MidAmerican expects to close some coal-powered plants in 2015 as the price of wind power (FAN) continues to slide, an exec says.
    | 3 Comments
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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