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Global 500

Krisztian Bocsi — Bloomberg via Getty Images

71

Siemens

SIEGY

Germany

Siemens, Europe’s largest industrial conglomerate, may finally be ready to emerge after three years of revenue declines and restructuring under CEO Joe Kaeser. The CEO started 2015 on the defensive, as investors criticized his $7.6 billion purchase of oilfield equipment maker Dresser-Rand. Those worries proved well-grounded, at least in the short run. Kaeser had to make two big job cuts as the energy sector downturn went on, slashing 12,300 employees, or about 3% of the workforce. Profits in its fiscal second quarter shrunk to 2007 levels. But then things began to look up. Siemens won a $9 billion turbine deal from Egypt, oil prices appeared to level off, and Kaeser announced a major stock buyback. Revenue in the final quarter of the year rose 8%. But with oil prices volatile again and trouble in the Chinese economy, Siemens will face challenges again in 2016.

CEO

Josef Kaeser

Sector

Industrials

Industry

Electronics, Electrical Equip.

HQ Location

Munich, Germany

Employees

348,000

Years on Global 500 List

22

Includes revenues from discontinued operations.Figures prepared in accordance with International Accounting Standards. Figures are for fiscal year ended Sept. 30, 2015.
Key Financials (last fiscal year)
($ Millions)% change
Revenues ($M)$87,660-13.7%
Profits ($M)$8,33814.4%
Assets ($M)$134,320
Total Stockholder Equity ($M)$38,476
Profit Ratios
Profit as % of Revenues9.5%
Profits as % of Assets6.2%
Profits as % of Stockholder Equity21.7%
STOCK QUOTE
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Videos about Siemens

Why Siemens AG CEO Runs The 170 Year Old Company Like A Startup

CEO Joe Kaeser discusses how the entrepreneurial mindset can benefit everyone in the company.

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How Siemens plans to profit from going carbon neutral

Eric Spiegel, President and CEO of Siemens USA, explains the savings the company plans to make from going completely carbon neutral by 2030.

Read More →