Siemens

Ticker SIE

Today's data summary

Market closed
% change
-4.43%
Price Euros
108.68
Change
-5.04
As of 01:36 07 Feb 2020
Market cap. Euros
4,341.87 million
As of 01:36 07 Feb 2020

Latest updates

Plans revealed for 'world-class' Goole rail village

Plans have been submitted for a new £6m rail research centre in East Yorkshire.

An impression of the building
Siemens

Siemens hopes the building in Goole will form part of a £200m manufacturing facility on a nearby site.

It's all part of a "world-class rail village", the company says.

New trains for London Underground are being built at the site.

The planning application for the new development has been submitted to East Riding of Yorkshire Council by developer Wykeland Group, on behalf of Siemens Mobility Limited.

Huawei and Siemens

Jonathan Freedland takes the Long View on technology companies and state espionage
Jonathan Freedland takes the Long View of suspected state espionage through technology companies. 

He compares investigations into spy activity in Britain by Siemens employees for Nazi Germany in the run up to World War II and the allegations about Huawei’s 5G equipment containing 'back doors' that could be used by Chinese state intelligence.

Following the historical story from the National Portrait Gallery Archive, to the former tech corridor of the Great West Road and ending at the Churchill War Rooms Jonathan is joined by historian Rob Hutton, Chris Cook editor at Tortoise Media , Elisabeth Braw of the Royal United Services Institute, Chair of UK5G Ros Singleton and actor Greg Jones.


Producer Neil McCarthy

Siemens 'brilliant' fourth quarter

company logo
Getty Images

Siemens shares are up more than 4% today after it reported what it described as "a powerful growth performance" in its fourth quarter despite "deteriorating industrial investment sentiment".

The German company, which makes trains and turbines, said revenue came in at €24.5bn, an 8% increase year-over-year, and orders of €24.7bn, up 4% from a year earlier.

"The weakening of the global economy accelerated clearly during fiscal 2019," said chief executive Joe Kaeser.

"Nevertheless, we were again able to underscore Siemens' performance aspiration with a brilliant fourth quarter. We fully achieved our fiscal-year guidance in all aspects."

Where now for HS2?

BBC Radio 5 Live

Siemens' proposed design for a HS2 train
Siemens/PA
Siemens' proposed design for a HS2 train

So what now for HS2?

Phase one of the high speed rail project links London to Birmingham, providing high speed travel and extra capacity.

If the government decides to scrap the scheme after the first phase is completed, that means the north of England will miss out.

"It is a possibility," says William Wilson, chief executive of Siemens Mobility, which is bidding for contracts on HS2.

"However, I think the line has to go up to Manchester in order to give the economic development to the northern cities.

"We already see the upgrade of the Trans Pennine and Boris Johnson recently said that he was hopeful for a new line possibly across the Pennines from east to west - and that has to link up to something."

Siemens 'apprehensive' at HS2 review

BBC Radio 5 Live

HS2: How much work has already been done?

The government's decision to review the HS2 rail project, which aims to link London, the Midlands and northern England, has rattled a number of companies.

Siemens Mobility makes trains and railway control systems and its chief executive William Wilson has told Wake Up to Money, that the firm is "apprehensive that the budget could be cut".

However, he says: "We're not believing that [the review] will result in the wholesale stopping of the scheme.

"Too much as been spent to date. You have to bear in mind that already 9,000 people are employed in this and it could be upwards of 30,000 at the peak of delivering new infrastructure."

Siemens: not laughing off Brexit

Today Programme

BBC Radio 4

Jurgen Maier
Reuters

The UK has become a "global laughing stock" according to Jürgen Maier chief executive of the UK branch of German engineering firm Siemens. He's written a letter to MPs urging them to get their act together over, what else, Brexit.

He says it's taken 45 years to shake off the "sick man of Europe" image the UK had in the 1970s and now we're at risk of trashing it all.

Siemens has several manufacturing sites around the UK, but the board wouldn't have much truck with making new investments now, he says.

"If I were to go to my board today and say here is another factory I want to open today with an investment 100 or 200 million, I can tell you, with this turmoil right now, we would not be putting that over the line."

Mr Maier says laughing stock or not, there's nothing funny about the situation.

"We just need a solution that will move us forward and that will unlock significant investment from companies like mine."