A large majority of Siemens shareholders at the Extraordinary Shareholders’ Meeting voted to approve the spin-off of the company’s energy business to Siemens Energy AG. The agreement was approved by a majority of 99.36 percent of the capital stock represented. This step paves the way for the establishment of an independent company focused on the energy sector.
Siemens will now drive the further preparations for the listing. The Capital Market Day for Siemens Energy is scheduled for September 1, 2020. The securities prospectus is to be published around two weeks prior to the listing, which is planned for September 28, 2020.
Siemens Energy operates globally along the entire energy value chain, including the service business. The company has about 91,000 employees worldwide. Its products include gas turbines, steam turbines, generators, transformers and compressors. In the area of wind turbines, Siemens Energy’s has 67 percent stake in Siemens Gamesa Renewable. According to the Combined Financial Statements of Siemens Energy AG as of September 30, 2019, Siemens Energy generated revenue of about €29 billion in fiscal 2019.
In the future, Siemens AG will concentrate on Digital Industries, Smart Infrastructure and Siemens Mobility.
