- Previous Rank58
- CEOJoe Kaeser
- AddressWittelsbacherplatz 2, Munich 80333
- IndustryElectronics, Electrical Equip.
CEO Joe Kaeser has been struggling to turn around the giant German engineering firm since he took charge in August 2013. Revenues declined for the second straight year in 2014, and the company lags in profitability. Demand for its lucrative large turbine business has fallen as small turbines have gained favor. (It recently acquired Rolls-Royce’s small turbine business for that reason.) Global crises and depressed oil prices have made it a difficult environment for growth. Siemens has shed thousands of workers and a massive restructuring effort is underway. The company made a series of strategic divestments—mostly in the healthcare business—and drew criticism for shelling out $7.6 billion for Dresser-Rand, the U.S. oilfield equipment maker—right before oil prices tanked.
Electronics, Electrical Equip.
|Years on List||21|
Key Financials (last fiscal year)
|($ Millions)||% change|
Profits as a % of
|Profit as % of Revenues||7.2%|
|Profits as % of Assets||5.5%|
|Profits as % of Stockholder Equity||18.6%|