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    SIE   DE0007236101

SIEMENS AG

(SIE)
  Report
Delayed Xetra  -  11:35:34 2023-01-27 am EST
144.50 EUR   +0.31%
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SEW joins Siemens' ecosystem of partners for grid software

11/22/2022 | 09:19am EST

Siemens Smart Infrastructure has partnered with SEW to support utilities globally to improve the customer and workforce experiences for utility smart meter users and accelerate the path to a 100 percent renewable world. Headquartered in Irvine, California, SEW is an industry-leading cloud platform provider specializing in digital customer experiences and workforce experiences for utility providers. SEW's solutions are powered by artificial intelligence, machine learning, and IoT analytics. As the leading company for grid software, Siemens is pushing ahead with its recently launched open, modular, and interoperable grid software suite. It supports utilities to rethink how they plan, operate, maintain, and optimize grids and connect the physical and the digital worlds with an integrated OT and IT landscape. The suite is part of Siemens Xcelerator, an open digital business platform to accelerate digital transformation and value creation across industry, transportation, grids and buildings. An important aspect of this strategy is an ecosystem of partners with complementary portfolios.

Siemens and SEW each offer an array of leading services and solutions designed to help utilities achieve their sustainability and digital transition goals. By aligning interfaces and workflows for seamless, end-to-end processing between leading complementary products such as Siemens' EnergyIP Meter Data Management software and SEW's Smart Customer Mobile (SCM) digital customer experience platform, Siemens and SEW together will empower end-consumers and/or prosumers to contribute to natural resource sustainability through improved visibility and interaction.

'Distributed energy resources are growing exponentially,' said Sabine Erlinghagen, CEO Grid Software at Siemens Smart Infrastructure. 'There is no doubt that we need to speed up our efforts to accelerate the energy transition and we cannot do it alone. We are looking for equally strong partners with complementary portfolios and SEW is a perfect match. By combining grid software applications with customer experience, we can empower utilities to master the decentralized energy landscape.'

'We are excited to join hands with Siemens and build a long-term partnership that drives the new platform paradigm in energy and utilities and accelerates the digital transformation journey,' said Deepak Garg, CEO and Founder of SEW. 'Together, we are well-positioned to achieve a fundamental change that effectively combines IT/OT platform services while keeping customers and the workforce at the heart of operations. Jointly we will continuously innovate and build a global ecosystem that is deeply integrated, customer-centric, smart, hyper-connected, agile, and responsive to address sustainability challenges.'

The partnership fosters a re-imagined platform paradigm designed to accelerate the energy transition of grids and shape the future of the power landscape with customers and workforce at the heart. SEW and Siemens will build upon the deep domain expertise to provide future-ready platforms for utilities. With the partnership, utilities will be able to leverage smart grid technologies, while innovating digital customer and workforce experiences. This would enable providers to break the traditional silos and accelerate the transition towards digital and resilient service delivery.

Setting up an ecosystem of partners with complementary products is a core element of the strategy underpinning Siemens Xcelerator, which seeks to make digital transformation easier, faster and scalable. Siemens Xcelerator aims to break down old silos so that partners can collaborate to provide customers with a holistic data-centric view of the world instead of the traditional, limited application or domain-centric view.

Siemens Smart Infrastructure (SI) is shaping the market for intelligent, adaptive infrastructure for today and the future. It addresses the pressing challenges of urbanization and climate change by connecting energy systems, buildings and industries. SI provides customers with a comprehensive end-to-end portfolio from a single source - with products, systems, solutions and services from the point of power generation all the way to consumption. With an increasingly digitalized ecosystem, it helps customers thrive and communities progress while contributing toward protecting the planet. Siemens Smart Infrastructure has its global headquarters in Zug, Switzerland. As of September 30, 2021, the business had around 70,400 employees worldwide.

Siemens AG (Berlin and Munich) is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power.

In fiscal 2022, which ended on September 30, 2022, the Siemens Group generated revenue of EUR72.0 billion and net income of EUR4.4 billion. As of September 30, 2022, the company had around 311,000 employees worldwide. Further information is available on the Internet at www.siemens.com.

Contact:

Eva-Maria Baumann

Siemens AG

T: +49 9131 17-36620

E: eva-maria.baumann@siemens.com

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
SIEMENS AG 0.31% 144.5 Delayed Quote.11.46%
SIEMENS ENERGY AG 0.29% 18.895 Delayed Quote.7.51%
SIEMENS HEALTHINEERS AG 0.29% 48.84 Delayed Quote.4.52%
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Financials
Sales 2023 75 799 M 82 283 M 82 283 M
Net income 2023 6 394 M 6 940 M 6 940 M
Net Debt 2023 37 521 M 40 731 M 40 731 M
P/E ratio 2023 18,3x
Yield 2023 3,06%
Capitalization 115 B 124 B 124 B
EV / Sales 2023 2,01x
EV / Sales 2024 1,88x
Nbr of Employees 311 000
Free-Float 88,4%
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 144,50 €
Average target price 156,31 €
Spread / Average Target 8,17%
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Managers and Directors
Roland Emil Busch President & Chief Executive Officer
Ralf Peter Thomas Head-Corporate Finance, Accounting & Controlling
Jim Hagemann Snabe Chairman-Supervisory Board
Hanna Hennig Chief Information Officer
Bernhard Wardin Head-Technology & Innovation
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