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SIEMENS ENERGY AG

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Delayed Xetra  -  11:35 2022-06-24 am EDT
15.70 EUR   +3.15%
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Bid for Siemens Gamesa could launch before September - Siemens Energy CEO

05/24/2022 | 05:18am EDT
Siemens Gamesa sign displayed at headquarters in Zamudio

FRANKFURT (Reuters) - Siemens Energy could launch its planned 4.05 billion-euro ($4.34 billion) bid for minorities in Siemens Gamesa sooner than September, its chief executive said, cautioning that the decision was up to Spanish regulators.

"We have an interest to do this as fast as possible," Christian Bruch told analysts during the group's capital markets day, adding the sooner a deal could be done, the faster operational problems at Siemens Gamesa could be fixed.

Under a tentative timeline, the bid, which was announced on Saturday, would launch in mid-September before an extraordinary general meeting rubber-stamps it in November.

"It could get faster ... but we're obviously not alone in control of the timescale," Bruch said.

($1 = 0.9336 euros)

(Reporting by Christoph Steitz, Editing by Miranda Murray)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
SIEMENS AG 3.39% 102.62 Delayed Quote.-32.79%
SIEMENS ENERGY AG 3.15% 15.7 Delayed Quote.-30.19%
SIEMENS GAMESA RENEWABLE ENERGY, S.A. -0.06% 17.85 Delayed Quote.-15.28%
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Financials
Sales 2022 28 659 M 30 231 M 30 231 M
Net income 2022 -57,1 M -60,3 M -60,3 M
Net cash 2022 2 148 M 2 265 M 2 265 M
P/E ratio 2022 -87,7x
Yield 2022 1,59%
Capitalization 11 222 M 11 837 M 11 837 M
EV / Sales 2022 0,32x
EV / Sales 2023 0,28x
Nbr of Employees 92 000
Free-Float 59,0%
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Number of Analysts 13
Last Close Price 15,70 €
Average target price 26,32 €
Spread / Average Target 67,6%
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Managers and Directors
Christian Bruch President & Chief Executive Officer
Maria Ferraro Chief Financial & Diversity Officer
Josef Kaeser Chairman-Supervisory Board
Laurence B. L. Mulliez Independent Non-Executive Member-Supervisory Board
Günter Augustat Member-Supervisory Board