Thursday , July 29 2021

Group restructuring: Siemens is not worried about Trump



economy

LG Director Joe Kaesers is a small blow to Trump

| Reading time: 4 minutes

Gerhard Hegmann

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"Siemens is on the right track"

The tasks for Siemens CEO Joe Kaeser are great. But the current business characteristics lead the group leader convincing. Asset Manager Georg Thilenius on Siemens's annual balance sheet.

The technology company does not want to be prevented by the speculation about a trade war. Everything goes according to plan, CEO of Kaeser is convinced. He has a message to the US President.

EWhile other corporations warn in their forecasts of rising uncertainty in the global economy or trade wars, Siemens is extremely calm. As CEO Joe Kaeser now presented in Munich last year's data and forecast, he spoke of the assumption that the Group did not expect any material impact on the business due to geopolitical risks or macroeconomic factors – but you are not sure.

"Many have discovered geopolitics as a cause for concern," Kaeser said. Siemens focuses on its customers and learned that it does not respond to Twitter or other features. Apparently there is an allusion to US President Donald Trump.

In the $ 200 billion bid for modernizing energy in Iraq, in which Siemens is struggling for General Electric packages, Kaeser now requires fair competitive conditions and no connection with the sale of US weapons. Maybe Trump will invite him to dinner again, Kaiser said, "and then you can talk about Iraq instead of the technology of a gas turbine."

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In his speech, Keser did not speak at a recent Rioja investors' conference, which dealt with the multi-billion dollar deal in Saudi Arabia. After a great deal of delay, the Siemens chief canceled a trip to the conference after killing journalists from Saudi Arabia. Kaeser praised the long-term plans for the modernization of Saudi Arabia – with the exception of arms-related activities. He did not comment on the odds that Siemens gets a big order from Riad.

Iraq's operations will be a welcome deal for Siemens Energi (Pover & Gas), as this division recorded losses in the fourth quarter, which affected Siemens's annual results. Nevertheless, all yearly goals were achieved, although they were raised by the middle of the year. Kaiser's role is that, unlike his predecessor, Peter Loscher, since joining the group five years ago, confirmed all the forecasts.

The predominant structure of the group

Entering orders at the end of September 2018 increased on a comparable basis by eight percent to 91.3 billion euros, sales by two percent to 83.0 billion euros, and profit after taxes slightly to 6.12 billion euros. The dividend will be raised by ten cents to 3.80 euros. However, the one-time effects of more than 1.55 billion euros also contributed to a relatively good result, as Siemens completely withdrew from Osram and invested Atos's shares in the pension fund.

In the beginning of 2019, sales are expected to increase slightly. The surplus inflated by special effects from 6,01 € to 7,88 € earnings per share will therefore fall to about 6,30 € to 7,00 €, according to the forecast. There is still an improvement in earnings, even if the end result in 2019 is probably a lower profit. It is expected that order entry in 2019 will be even higher than sales.

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In any case, the new fiscal year will be marked by the reorganization of the Group's structure. Kaeser presented the cornerstone of its "Vision 2020+" in August, which included three major corporate pillars: energy, intelligent infrastructure and the digital industry, as well as three large independent Siemens Games companies (wind energy), Siemens Healthineers (medical technology) and possibly Siemens Alstom (Railway Engineering) gives.

Operating units would then have "much greater entrepreneurial freedom". Kaeser strongly opposed speculation that the reorganization that came into force since April could cost 20,000 jobs. However, he admitted that the transition was deep. "We touch the company's DNA."

Caesar has drawn attention to joining Siemens's railroad activities with the French Alstom Group, which is currently being considered by the competent authorities in Brussels. Brussels expressed concern and announced a detailed review. Kaeser said that Siemens is ready for concessions, but at the same time the group has other options. "If that fails, we have the world's best mobility company," Kaeser said. Media reports said Siemens would consider bringing its own Zug Division to the market.

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ARCHIVE - February 26, 2014, Bavaria, Munich: A night shot with a zoom effect shows Osram's seat. Dana 07.11.2018. The annual Pk Osram is held for years. Photo: Rene Ruprecht / dpa +++ dpa-Bildfunk +++


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