| Siemens Energy AG | |
| Type: | Aktiengesellschaft |
| Traded As: | DAX Component |
| Predecessors: | |
| Foundation: | Munich |
| Location: | Munich, Germany |
| Owners: |
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| Key People: | Joe Kaeser Christian Bruch |
| Industry: | Energy development |
| Revenue: | €32 billion (2022) |
| Subsid: | Siemens Gamesa |
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 issues with the production of Gamesa, 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]
The energy division has been an essential part of the company since the foundation of the group by Werner von Siemens and Johann Georg Halske. Important organizational milestones were the founding of Siemens-Schuckertwerke in 1903, the formation of the Power Engineering Division in 1969 in the newly founded Siemens AG, and the bundling of activities in the Siemens Energy Sector in 2008.[7]
Siemens Energy was created as an independent company in April 2020 as a result of a renewed restructuring of the Siemens Group. Siemens transferred its energy division to the new independent company for this purpose.
The Group's product range mainly includes: