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MarketScreener Homepage  >  Equities  >  Bolsas y Mercados Espanoles  >  Siemens Gamesa Renewable Energy, S.A.    SGRE   ES0143416115

SIEMENS GAMESA RENEWABLE ENERGY, S.A.

(SGRE)
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Siemens Energy Makes Trading Debut With EUR16 Billion Market Capitalization

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09/28/2020 | 02:22am EDT

By Giulia Petroni

Siemens Energy AG made its debut on the Frankfurt stock exchange Monday with a market capitalization of nearly 16 billion euros ($18.60 billion) in one of Europe's biggest listings in recent years.

At 0751 GMT, the shares slipped to EUR21.36 from an initial price of EUR22.01, which Siemens used to calculate a market capitalization of EUR15.99 billion.

Earlier this year, German industrial engineering company Siemens AG decided to spin off 55% of its energy unit to shareholders, making the corresponding number of shares available for free-float ownership. Siemens Energy includes Siemens's gas and power business as well as its 67% stake in Siemens Gamesa Renewable Energy SA.

Siemens retained a 35.1% stake in the company, with the rest controlled by its pension unit, but said it aims to significantly reduce its equity stake within 12 to 18 months.

The spinoff represents a new chapter for Siemens, as it transforms Europe's biggest conglomerate into a leaner business more focused on digital transformation, smart infrastructure and sustainable transportation, as the company describes itself.

"The listing of Siemens Energy means that we've successfully reached a key milestone in Siemens's structural realignment," said Chief Executive Joe Kaeser. "The separately listed companies will be in a significantly better position to tap the individual businesses' value-creating potential than would be possible in a conglomerate."

Siemens Energy is the third major business unit to be parceled off.

The move also marks also a significant transition of power, as Roland Busch gets ready to start running operations next month, and then fully take over from Mr. Kaeser as CEO early next year.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE BÖRSE AG -1.84% 139.05 Delayed Quote.-0.78%
SIEMENS AG -1.86% 108.68 Delayed Quote.-6.74%
SIEMENS GAMESA RENEWABLE ENERGY, S.A. -2.09% 25.25 Delayed Quote.61.50%
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Financials
Sales 2020 9 707 M 11 524 M 11 524 M
Net income 2020 -706 M -838 M -838 M
Net cash 2020 41,1 M 48,8 M 48,8 M
P/E ratio 2020 -23,2x
Yield 2020 0,03%
Capitalization 17 525 M 20 730 M 20 805 M
EV / Sales 2020 1,80x
EV / Sales 2021 1,63x
Nbr of Employees -
Free-Float 32,7%
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Technical analysis trends SIEMENS GAMESA RENEWABLE ENERGY, S.A.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 21,58 €
Last Close Price 25,79 €
Spread / Highest target 8,57%
Spread / Average Target -16,3%
Spread / Lowest Target -52,3%
EPS Revisions
Managers
NameTitle
Andreas Nauen Chief Executive Officer
Miguel Angel López Chairman
Christoph Wollny Chief Operating Officer
Thomas Spannring Chief Financial Officer
Alan Feeley Chief Information & Cyber Security Officer