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    SIE   DE0007236101

SIEMENS AG

(SIE)
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Siemens - Qualifications to address skills shortage, Siemens launches digitalization academy

12/05/2022 | 09:35am EST

Siemens to bundle qualification programs for technical training and continuing education in new, Germany-wide SiTecSkills Academy

Certified continuing education offerings to strengthen employability in digital transformation

Academy to advise Siemens' units and partners on concrete, demand-oriented qualification measures

SiTecSkills Academy to also be open for external partners

Siemens is launching an academy for continuing education that will focus on technical up- and reskilling. At 19 regional training centers across Germany, the SiTecSkills Academy will make a comprehensive, certified portfolio of qualification measures available in new areas of digitalization and sustainability. This initiative aims to enhance employee skillsets to meet the requirements of the digital transformation within the work environment. The Academy primarily aims to provide training to employees in manufacturing, service, sales, finance, controlling and business support functions. In doing so, the SiTecSkills Academy supplements the portfolio offered by the Siemens Professional Education training unit by providing targeted occupational and technical learning opportunities. Thus, the Academy seamlessly fits into Siemens' existing continuing education offerings. The new aspect is that this offering is available to both internal and external partners within the learning ecosystem.

'Through targeted up- and reskilling, we can ensure that the competencies of our people are always up to date. In this way, we're not only ensuring their long-term employability, but also our company's long-term competitiveness,' said Judith Wiese, Chief People and Sustainability Officer and member of the Managing Board at Siemens AG. 'Since the 'shelf life' of knowledge is rapidly shortening in today's world, in particular in the areas of IT and digitalization, we need to continuously integrate lifelong learning as a fundamental element within our work processes. The personal motivation and great eagerness to learn that our people display show us that we're on the right track in this regard.'

Structural transformation and digitalization are bringing tremendous change to the working world: studies show that almost half of all jobs today will change significantly by 2030. As a result, Germany's labor market is expected to have five million fewer specialists than needed. The requirements for digital skills are rising in nearly all occupational profiles and job descriptions.

As a result, the goals must be to ensure that employees have the skills needed to stay relevant to the labor market over the long term, and to convey core competencies that the economy needs to secure and enhance companies' competitiveness. The programs that SiTecSkills Academy offers are among the contributions that Siemens is making to master the larger societal challenge caused by structural change, digitalization and a shortage of skilled workers.

'As a certified partner, we not only offer learning solutions that focus on technical qualification programs for specific target groups, but also professional consulting for our own businesses and for external business partners,' said Thomas Leubner, Head of Siemens Professional Education. Depending on the different levels, the portfolio is offered in digital, in-person and hybrid formats as needed. 'By taking this approach, we are preparing all target groups for the digital age or are empowering them on the job,' explained Leubner.

Already since several years, Siemens has been using the #NextWork methodology, which the company developed internally, to systematically look ahead three to five years to analyze the changes that are expected to arise in jobs, tasks and skills. The company uses this methodology to analyze which businesses will be facing the largest transformations - and will thus also have the largest need for qualification measures - and which qualifications make sense for the employees from an operating perspective.

The SiTecSkills Academy works in cooperation with the experts from #NextWork. This collaboration makes it possible to design individualized developmental paths for the learners and implement concrete training measures. Since #NextWork first began, its projects at Siemens have examined around 70,000 critical job profiles and the related activities.

Back in 2017, Siemens successfully began working together with Siemens Professional Education at the company's location in Regensburg, Germany, to systematically give manufacturing workers who had received no vocational training or had been trained on the job the opportunity to obtain credentials - as mechatronics specialists, for example. Ever since then, the portfolio of offerings has been continuously supplemented in a way that was designed to meet concrete needs, and it has now been made available across Germany. Today, this offering, which is also open for participants from outside Siemens, includes 15 different qualifications programs. They range from certificate courses (for certification in data analytics or as a specialist for service or for digitalization and automation) to measures for learning new occupations (for instance, to become a technician for mechatronics, electronics, or automation technology, or a commercial specialist for digitalization management), and they extend all the way to academic opportunities for earning higher-education degrees (for example, a bachelor of data science or master of science in artificial intelligence).

In fiscal 2022, it was already the case that as many as 2,000 employees successfully took part in about 170 training programs for continuing education or for retraining in a new occupation. The participants achieved a success rate of 97.8 percent. They acquired vocational credentials, for example, as technicians for mechatronics, electronics or automation technology.

With 6,400 apprentices and students in cooperative education programs, Siemens is one of the world's leading providers of occupational training in the private sector. For more than 100 years, the company has been giving young people entering the workforce the opportunity to obtain credentials for the latest technical and commercial occupations or to earn a degree in cooperative education programs.

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

Contact:

Konstanze Somborn

T: +49 174 8947354

E: konstanze.somborn@siemens.com

Bernhard Lott

T: +49 174 1560693

E: bernhard.lott@siemens.com

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
SIEMENS AG 0.50% 143.72 Delayed Quote.10.31%
SIEMENS ENERGY AG 3.88% 19.54 Delayed Quote.7.03%
SIEMENS HEALTHINEERS AG 8.94% 53.62 Delayed Quote.5.33%
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Financials
Sales 2023 75 799 M 82 759 M 82 759 M
Net income 2023 6 394 M 6 981 M 6 981 M
Net Debt 2023 37 521 M 40 966 M 40 966 M
P/E ratio 2023 18,1x
Yield 2023 3,09%
Capitalization 113 B 124 B 124 B
EV / Sales 2023 1,99x
EV / Sales 2024 1,86x
Nbr of Employees 311 000
Free-Float 88,4%
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Number of Analysts 21
Last Close Price 143,00 €
Average target price 156,31 €
Spread / Average Target 9,31%
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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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