Increasing number of construction sites

Joe Kaeser stands for big tasks. But the business figures make the CEO confident.

The construction sites are numerous, but for Siemens CEO Joe Kaeser, when presenting the business figures, the following applies: exudes serenity. Crisis in power plant companies? Of course, but the restructuring has started. Wrestling for a billions-dollar mission in Iraq? Wait, your own offer is convincing. Lack of EU approval for rail fusion with Alstom? If these fail, the group simply maintains a very profitable railroad division.

A new company structure sees the outsourcing of three business domains. Two of them – medical technology and the wind energy industry – are already at the crossroads and are delivering convincing figures. Soon the railway technology will be merged with the French competitor Alstom. Open is the approval of the EU Cartel Guard.

Kaeser had confidence. But: "If that does not work, we have the best mobility company in the world," he said, with a view to a record turnover of the EUR 2.3 billion railway sector in the fourth quarter. Even with the total numbers, investors must be satisfied. Turnover in 2018 was slightly more than the previous year, with just over EUR 83 billion. The result after tax increased slightly to EUR 6.12 billion.

The problem child remains the nuclear power plant. Due to the overcapacity in gas turbines on the market and the trend towards renewable energy sources, the computer had to cancel thousands of jobs. The conversion costs a lot of money and the profit almost broke in the fourth quarter. Siemens earned EUR 681 million in the last three months of the past financial year – after EUR 1.25 billion in the same period of the previous year.

A deal of billions of dollars in Iraq would therefore be possible for relaxation. Siemens wants to expand the power generation capacity in the crisis-affected country by eleven gigawatts – including training programs & # 39; s and local jobs. But also the American competitor General Electric has submitted an offer to expand – with the support of US President Donald Trump. dpa