Siemens Energy

This article is about the energy company. For the former energy sector of Siemens, see Siemens Energy Sector.
Siemens Energy AG
Company typeAktiengesellschaft
FWB: ENR
DAX Component
IndustryEnergy development
Predecessors
Founded1 April 2020; 4 years ago (2020-04-01)
Munich
HeadquartersMunich, Germany
Key people
Joe Kaeser
(Chairman)
Christian Bruch
(CEO)
Revenue€32 billion (2022)
−3,340,000,000 Euro (2023) Edit this on Wikidata
−4,532,000,000 Euro (2023) Edit this on Wikidata
Total assets47,907,000,000 Euro (2023) Edit this on Wikidata
Owners
Number of employees
96,000 (2023) Edit this on Wikidata
SubsidiariesSiemens Gamesa
Websitewww.siemens-energy.com

Siemens Energy AG is a German publicly-traded energy corporation formed through the spin-off of the former Gas and Power division of Siemens, and it includes full ownership of Siemens Gamesa.[1]

Christian Bruch is the CEO, and the former CEO of Siemens AG, Joe Kaeser, is the chairman of the supervisory board.[2]

At an Extraordinary Shareholders' Meeting of Siemens AG on July 9, 2020, its shareholders approved the split-up of the company.[3] Trading of the shares of the new Siemens Energy AG on the Frankfurt Stock Exchange began on September 28, 2020.[4] As of June 2023, Siemens retains a stake of 25.1% in the company.[5]

Following quality problems with onshore turbines, Siemens Energy share price dropped by nearly 35% between 21–23 June 2023. In October 2023 the company announced it was seeking German government guarantees, following quality problems with rotor blades and gears in its newer onshore wind turbines. The company share price dropped once again sharply on 25 October 2023, but it regained most of this loss by 15 November 2023.[6]

  1. ^ "Siemens baut fokussierten Energieriesen". Siemens AG.
  2. ^ "Senvion: Paukenschlag bei Siemens - Sen wirft kurz vor Börsengang hin". www.manager-magazin.de. 19 March 2020.
  3. ^ "Siemens-Hauptversammlung: Kaeser will keine Kohle mehr". www.manager-magazin.de. 9 July 2020.
  4. ^ "Siemens' $18 billion energy spin-off falls in Frankfurt debut". Reuters. 2020-09-28. Retrieved 2020-09-30.
  5. ^ "Siemens moves part of Siemens Energy holding to pension fund". Reuters. 2023-06-29. Retrieved 2023-07-07.
  6. ^ "Siemens Energy shares slide 39% after company seeks state guarantees". Reuters. 2023-10-26. Retrieved 2023-10-29.