Siemens Energy aims for greater transparency in capital market
Germany, Berlin: At Capital Market Day in Berlin, Siemens Energy will be presenting analysts and investors with its strategic cornerstones for the coming years.
Image source: Siemens Energy
Germany, Berlin: At Capital Market Day in Berlin, Siemens Energy will be presenting analysts and investors with its strategic cornerstones for the coming years.
The management’s goal is to build an integrated energy technology company with a clear focus on ESG which supports customers as they make their transition toward greater sustainability, while delivering reliable returns for investors. Siemens Energy will rely on three main pillars: low-emission or zero-emission power generation; transport and storage of electricity; and reducing the CO2 footprint and energy consumption in industrial processes. A new aspect will be Siemens Energy’s structure: starting in fiscal 2023, the former Divisions will be repositioned as Business Areas, whose key financial figures will be reported quarterly. This will significantly increase transparency for the capital market. A new organizational structure will significantly reduce complexity, create flatter hierarchies, shorten decision-making processes, and strengthen individual employees’ sense of personal responsibility, says in the press release.
“It will be critical how we manage our supply chains and production, how we execute projects and how we successfully leverage our increasing amounts of data. We want to be faster, more flexible, and more customer-oriented,” said Siemens Energy CEO Christian Bruch.
Substantial reduction of hierarchies within the company has been announced. Approximately 30 % of the previous management positions will be eliminated, without any layoffs.
Another key next step with a clear focus on sustainability is the integration of Siemens Gamesa Renewable Energy (SGRE), in which Siemens Energy has held 67 % of the stock up to now. The company has recently announced it would acquire the remaining 33 % that is still in free float. The transaction is expected to close during the second half of the year 2022.
Source: Siemens Energy
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