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    SIE   DE0007236101

SIEMENS AG

(SIE)
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Delayed Xetra  -  11:35 2022-08-12 am EDT
111.84 EUR   +1.75%
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Siemens: Timing of Siemens Energy share sale depends on market environment

07/01/2022 | 05:25am EDT
FILE PHOTO: Siemens Energy AG starts trading after IPO

MUNICH (Reuters) - Siemens said the market environment would dictate when it sells further shares in Siemens Energy, after warning late on Thursday that it was booking a writedown related to a slide in the value of Siemens Energy.

"As we've emphasized in the past, we still clearly intend to reduce our stake in Siemens Energy. However, in the interest of our shareholders, we'll make a prudent decision regarding the timing depending on the market environment," Siemens said on Friday.

German engineering group Siemens, which owns 35% of Siemens Energy, said on Thursday it was booking a writedown that would result in a 2.8 billion euro ($2.93 billion) impact on its third quarter net income.

(Reporting by Alexander Huebner; Writing by Maria Sheahan; Editing by Rachel More)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
SIEMENS AG 1.75% 111.84 Delayed Quote.-26.75%
SIEMENS ENERGY AG -1.24% 16.355 Delayed Quote.-27.28%
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Financials
Sales 2022 69 668 M 71 432 M 71 432 M
Net income 2022 4 301 M 4 410 M 4 410 M
Net Debt 2022 37 256 M 38 200 M 38 200 M
P/E ratio 2022 22,8x
Yield 2022 3,73%
Capitalization 88 689 M 90 935 M 90 935 M
EV / Sales 2022 1,81x
EV / Sales 2023 1,69x
Nbr of Employees 303 000
Free-Float 88,4%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 111,84 €
Average target price 149,42 €
Spread / Average Target 33,6%
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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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