Siemens Aktiengesellschaft - Moody's Global Credit Research

Siemens Aktiengesellschaft

Siemens Aktiengesellschaft - Moody's Global Credit Research
Siemens Aktiengesellschaft
Published Mar 18, 2009
14 pages (7542 words) — Published Mar 18, 2009
Price US$ 750.00  |  Buy this Report Now

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Brief Excerpt:

...Headquartered in Munich, Germany, Siemens AG (A1/P-1, stable) is a diversified global electrical engineering and electronics group. With total sales of around 77 billion in the financial year ended 30 September 2008 (FY2008), Siemens is Europe s largest electronics and electrical equipment group, and ranks as one of the 20 largest enterprises in Europe. Its 39.5 billon market capitalisation, as of 2 February 2009 and down 52% from a year ago, represents around 1.5x book equity and 9.6x adjusted EBIT. During FYE2008, management has reallocat ed its activities into three Sectors Industry (49% of group revenues), Energy (29%) and Healthcare (14%) made up of 14 Divisions, while keeping Financial Services and IT Solutions and Services separate as cross sector businesses. Ea ch Sector and Division has a dedicated CEO and CFO. In its industrial operations, Siemens general ly ranks among the top three suppliers in the markets it operates in, and its ma ny competitors include...

  
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Siemens' Exit from Nuclear Energy Is Credit Positive - Issuer Comment – 2011/09/25 – US$ 200.00 – ...Siemens AG (A1 positive) Chief Executive Peter Loescher last Monday said that the company's "chapter in nuclear energy is closed," and that it will scale back its cooperation with Russia's Rosatom (unrated) to the delivery of conventional power equipment only. The decision is credit positive for Siemens for three reasons. First, financial returns on this complex technology are risky as during the construction phase customers often expand safety specifications, which then may trigger disputes between suppliers and clients. Second, research and development (R&D) requirements are high at a time when future demand for new facilities is increasingly uncertain owing to recent safety concerns (e.g., Japan's Fukushima nuclear accident) and political intervention. Third, the exit frees up funds that Siemens can redeploy in businesses with better visibility, like power transformation. At this stage, it is unclear to what extent Siemens can monetize the patents and other know-how in nuclear technology...

Siemens Aktiengesellschaft - Analysis – 2011/02/08 – US$ 750.00 – ...Headquartered in Munich, Germany, Siemens AG (Siemens; A1/P-1/stable) is a diversified global electrical engineering and electronics group. With total sales of around 76 billion in the financial year ended 30 September 2010 (FYE 2010), Siemens is Europe's largest electronics and electrical equipment group, and ranks as one of the 20 largest enterprises in Europe. Its 86 billon market capitalisation, as of the 31 January 2011, represents book equity of around 3x as of FYE 2010. Siemens' activities are grouped into three sectors: (i) Industry (46% of group revenues), offering a complete spectrum of solutions for efficient use of resources and productivity improvements in industry and infrastructure; (ii) Energy (34% of group revenues), covering the whole energy conversion chain from extraction of oil and gas to transmission and distribution of power; and (iii) Healthcare (16% of group revenues), offering a comprehensive portfolio of medical solutions ranging from medical imaging to clinical...

Siemens Aktiengesellschaft - Analysis – 2010/02/02 – US$ 750.00 – ...Headquartered in Munich, Germany, Siemens AG (A1/P-1/stable) is a diversified global electrical engineering and electronics group. With total sales of around 77 billion in the financial year ended 30 September 2009 (FY2009), Siemens is Europe's largest electronics and electrical equipment group, and ranks as one of the 20 largest enterprises in Europe. Its 60 billon market capitalisation, as of the end of January 2010, represents around 2.2x book equity and 10.3x adjusted EBIT....

Moody's comments on Siemens' settlement provision of about EUR1 billion; No change to A1 ratings - Issuer Comment – 2008/11/05 – US$ 200.00 – Global Credit Research Issuer Comment 5 NOV 2008 Issuer Comment: Siemens Aktiengesellschaft Moody's comments on Siemens' settlement provision of about EUR1 billion; No change to A1 ratings Approximately EUR 13.3 Billion of Debt Instruments...

Siemens AG - Analysis – 2008/02/21 – US$ 750.00 – ...Headquartered in Munich, Germany, Siemens AG (A1/P-1, stable) is a diversified global electrical engineering and electronics group. With total sales of around 72 billion in the financial year ended 30 September 2007 (FYE2007), Siemens is Europe s largest electronics and electrical equipment group, and ranks as one of the 20 largest enterprises in Europe. Its 82. 2 billon market capitalisation, as of 19 February 2008, represents about 2.8x book equity and 13.3x adjusted EBIT. During FYE2007, Siemens operated in six business areas, which sub-divide into 12 operating groups, including Non-industrial Financing and Real Estate. For FYE2008, management has reallocated its activities into three sectors Industry (53% of group revenues in Q1 2008), Energy (27%) and Healthcare (14%) made up of 14 divisions, while keeping financing and real estate separate. In FYE2007, the communication networks business was transferred to a joint venture with Nokia, with equal shares (reported...

Moody's downgrades Siemens AG to A1; stable outlook - Rating Action – 2007/11/09 – US$ 180.00 – Global Credit Research Rating Action 9 NOV 2007 Rating Action: Siemens Capital Company, LLC Moody's downgrades Siemens AG to A1; stable outlook Approximately EUR 15.5 billion of debt instruments affected Frankfurt, November 09, 2007...

Moody's comments on Siemens' strategic actions; No change to Aa3 ratings - Issuer Comment – 2007/07/25 – US$ 200.00 – Global Credit Research Issuer Comment 25 JUL 2007 Issuer Comment: Siemens Aktiengesellschaft Moody's comments on Siemens' strategic actions; No change to Aa3 ratings Approximately EUR 12.6 Billion of Debt Instruments Affected Moody's...

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MLA:
Moody's Global Credit Research. "Siemens Aktiengesellschaft" Mar 18, 2009. Alacra Store. Sep 22, 2020. <http://www.alacrastore.com/moodys-credit-research/Siemens-Aktiengesellschaft-PBC_115307>
  
APA:
Moody's Global Credit Research. (). Siemens Aktiengesellschaft Mar 18, 2009. New York, NY: Alacra Store. Retrieved Sep 22, 2020 from <http://www.alacrastore.com/moodys-credit-research/Siemens-Aktiengesellschaft-PBC_115307>
  
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