Siemens Energy and Air Liquide announce
the creation of a joint venture dedicated to the series production of
industrial scale renewable hydrogen electrolyzers in Europe. With two of the
global leading companies in their field combining their expertise, this
Franco-German partnership will enable the emergence of a sustainable hydrogen
economy in Europe and foster a European ecosystem for electrolysis and hydrogen
technology. Production is expected to begin in the second half of 2023 and
ramp-up to an annual production capacity of three gigawatts by 2025.
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Inspection of approximately 4,000 km of high-voltage power lines
- Artificial intelligence for automated condition detection
- CO2 emissions decreased by reducing helicopter flights
- Digital twin for accelerating digital grid expansion planning
The German grid operators Schleswig Holstein Netz AG and Bayernwerk Netz GmbH have
commissioned Siemens Energy to inspect almost 4,000 kilometers of high-voltage overhead lines.
The inspection will be conducted by a helicopter equipped with a high-tech multi-sensor system
using the "SIEAERO" service concept. Developed by Siemens Energy, the system collects all the
necessary data during the flight, which can later be evaluated with the help of artificial intelligence
and analyzed by other software tools. In the near future, this kind of holistic inspection of overhead
power lines can also be performed with large drones.
- Positive result: Gas and Power profitability up 35
percent after a year and a half of independence; cost-efficiency measures save more
than EUR 350 million
- Greater transparency: New corporate structure
lays out clear responsibilities, ensures greater efficiency, brings business
closer to customers, and provides greater transparency for the
capital market
- Shared market approach: Integration of Siemens
Gamesa Renewable Energy (SGRE) is logical evolution for a leading energy
technology company and offers customers a holistic approach
in the transition toward greater sustainability
- Attractive prospects for future: Global energy
market promises good growth rates
At its 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 increase transparency for the capital market significantly. By integrating
SGRE, Siemens Energy will strengthen its position, creating a holistic, go‑to-market
approach further enhancing customer focus. Finally, a new organizational
structure will significantly reduce complexity, create flatter hierarchies, shorten
decision-making processes, and strengthen individual employees’ sense of
personal responsibility.
On May 21, 2022, Siemens Energy AG (“Siemens Energy”) announced a voluntary cash tender offer to acquire all outstanding shares in Siemens Gamesa Renewable Energy, S.A. (“SGRE”), i.e., approx. 32.9 percent of SGRE’s share capital, which it does not already own. SGRE’s minority shareholders will be offered € 18.05 per share in cash. Following a successful closing of the transaction, Siemens Energy intends to pursue a delisting of SGRE from the Spanish stock exchanges, where it currently trades as a member of the IBEX 35 index.
We
released our second quarter financial results for the fiscal year 2022 on May
11, 2022, at 07:00 a.m. CEST. The Press Conference Call was broadcasted live at
08:30 a.m. CEST.
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Continuing constraints in global supply chains carried on affecting the business of Siemens Energy, predominantly at Siemens Gamesa Renewable Energy (SGRE), where difficult supply markets amplified the
impacts rooting in continued operational problems. As a result, SGRE reported an Adjusted EBITA of negative €301m for the second quarter.
- The consequences of the war in Ukraine led to initial minor negative effects on the second quarter results
of Siemens Energy.
- Solid orders of €7.9bn included a strong contribution from Gas and Power (GP), resulting in the order
backlog climbing to a record of €89.3bn. Compared to the exceptional high prior-year figure, orders came
in 27.5% lower for the quarter on a comparable basis (excluding currency translation and portfolio effects).
- Revenue of €6.6m was slightly down by 1.7% on a comparable basis, as moderate growth at GP was more
than offset by a decline at SGRE.
- Adjusted EBITA for Siemens Energy was negative €77m (Q2 FY 2021: positive €197m) due to the loss at
SGRE. In contrast, GP substantially increased its Adjusted EBITA year-over-year. Adjusted EBITA before special items of Siemens Energy was negative €21m compared to positive €288m in prior-year quarter.
- Siemens Energy’s net loss amounted to €252m (Q2 FY 2021: net income of €31m). Corresponding basic
earnings per share (EPS) were negative €0.22 (Q2 FY 2021: positive €0.03).
- Free cash flow pre tax sharply decreased to negative €351m (Q2 FY 2021: positive €433m) driven by the
earnings decline at SGRE while GP delivered a positive contribution.
- Given SGRE’s adjusted aspiration for fiscal year 2022 and in light of prevailing challenges, management
now expects for Siemens Energy for fiscal year 2022 results towards the low end of the guidance ranges
for comparable revenue development (negative 2% to positive 3%) and Adjusted EBITA margin before
special items (positive 2% to positive 4%).
- Management notes an increasingly challenging environment and growing uncertainty with regards to
the continuation and economic burdens of the war in Ukraine as well as the COVID-19 situation in China
and cannot rule out further negative effects associated to an escalation of these factors.
Christian Bruch, President and Chief Executive Officer of Siemens Energy AG:
“Gas and Power delivered a solid performance this quarter. The segment delivered a solid operating result
and a strong order intake despite first impacts of the sanctions against Russia and increasing supply chains
constraints. Disappointing again is the performance of SGRE which is weighing heavily on Siemens Energy.
The situation at SGRE has aggravated further since the last profit warning. As majority shareholder, we provide our expertise to get to the bottom of the problems and to tackle the issues”
- Launch of single-phase dry-type transformer for pole applications
- More reliable, durable and environmentally friendly alternative to oil-filled transformers
With CAREPOLETM Siemens Energy
launches an innovative dry-type single-phase transformer for pole applications. Designed
for the technological requirements of the American grid, the new cast-resin distribution
transformer provides a reliable and sustainable alternative to oil-filled
transformers.
- Surplus wind energy from Germany for Great Britain
- 1.4 gigawatts, supplying 1.5 million homes
- Saving of 16 million tons of CO2
Siemens Energy and the NeuConnect
consortium have signed a contract for the supply of a turnkey High-Voltage
Direct Current (HVDC) transmission system for the first power link between Great
Britain and Germany (“NeuConnect Interconnector”). The HVDC link will connect
two of Europe's largest energy markets and enable up to 1.4 gigawatts of
electricity to be exchanged in both directions, enough to power up to 1.5
million homes. Access to a more diverse and sustainable energy mix will
increase security of supply in both countries. Through the more efficient use
of renewable energy, the connection will result in savings of up to 16 million
tons of CO2 emissions. The order value for Siemens Energy is in the
high three-digit million euro range and will be booked for the current fiscal
year.