Siemens Aktiengesellschaft · XETR:SIE
Siemens Aktiengesellschaft — Siemens — Investor Day (June 2010)
23 slides from Siemens Aktiengesellschaft's investor day presentation, Jun 29, 2010
Slide 1: Siemens Energy: Renewable Energy Division
Siemens Energy: Renewable Energy Division René Umlauft CEO Renewable Energy © Siemens AG 2010. All rights reserved. Nuremberg, June 29, 2010 Capital Market Day Energy © Siemens AG 2010. All rights reserved.
Slide 2: Safe Harbour Statement
Safe Harbour Statement This document contains forward-looking statements and information – that is, statements related to future, not past, events. These statements may be identified by words such as "expects," "looks forward to", "anticipates", "intends", "plans", "believes", "seeks", "estimates",
Slide 3: Offshore wind, Concentrated solar power, Photovoltaic, Onshore wind
Offshore Concentrated Onshore Photovoltaic wind solar power wind Page 3 June 29, 2010 Capital Market Day Energy © Siemens AG 2010. All rights reserved.
Slide 4: Renewables: The pace of success is accelerating
Renewables: The pace of success is accelerating 2008 Today Offshore wind Anholt 400 MW Baltic I&II 331 MW Gwynt y Môr 576 MW London Array 630 MW Onshore wind Lower Snake River 343 MW Clyde 350 MW Keenan 2 152 MW Chatham Kent 101 MW Solar power Acquisition of 45% of Archimede Solar Energy Acquisition
Slide 5: A winning portfolio for high-growth markets
A winning portfolio for high-growth markets Renewable Energy markets and drivers Renewable Energy portfolio Market drivers Wind offshore Energy Oil & gas Political demand price hike targets Wind onshore €bn +13% p.a. € bn 190 Concentrated Solar Power (CSP) 23 Others 62 Solar PV Large scale 8
Slide 6: Strong financial performance: Record backlog
Strong financial performance: Record backlog Record Strong performance: Revenue Solid results: Profit margin Backlog ~ € 8 billion 2) € bn 2.9 13.0% 11.6% 11.3% 1) 2.1 9.8% 1.4 10.2% 1.3 4.9% 0.9 FY 06 FY 07 FY 08 FY 09 H1 10 FY 06 FY 07 FY 08 FY 09 H1 10 Book-to- bill >1 1) Normalized (H1 2010 Prof
Slide 7: We have clear targets and powerful levers
We have clear targets and powerful levers Strengthen #1 position in offshore Regionalization #3 position in wind by 2012 Sustain profitability Innovation Drive renewables to wholesale parity $ Cost down and industrialization Lead Concentrated Solar Power market Page 7 June 29, 2010 Capital Market Da
Slide 8: Wind 2008: From a focused approach in 15 countries
Wind 2008: From a focused approach in 15 countries ... Countries with projects won until 2008 Manufacturing locations established until 2008 Page 8 June 29, 2010 Capital Market Day Energy © Siemens AG 2010. All rights reserved.
Slide 9: Wind today: A global player with ~500 bids out in >50 countries
Wind today: ... to a global player with ~500 bids out in >50 countries Countries with projects/bid activity today Manufacturing locations 2008–2010 Regional sales center Manufacturing locations established until 2008 Manufacturing locations planned Page 9 June 29, 2010 Capital Market Day Energy © Si
Slide 10: Leveraging #1 in offshore as markets grow
Leveraging #1 in offshore as markets grow Market Status today Offshore orders in GW Drivers: Offshore targets Large GW Strengthened offshore lead Potential by 2020 33 GW Record backlog > € 3.5 bn 30 GW 10 GW 6 GW 8.6 2.7 GW orders won since 2009 6 GW 4 GW Orders for current, next and future
Slide 11: Offshore: Expand leading position
Offshore: Expand leading position Innovate Go international 3 MW Direct Drive Build UK facility Î The game to serve key changer North West European market 6 MW Direct Drive Capture new Î Next era offshore markets starts in 2012 Floating turbine Close first US in operation offshore project Î Opens ne
Slide 12: Onshore: Continue growing internationally
Onshore: Continue growing internationally Status today Next steps Enter further Record backlog > € 3.5 bn growth markets New factories in Successful introduction of the 2.3–101 China (2010) US (2010) India (2012) #3 position in US Local product for emerging markets >2,000 blades shippe
Slide 13: From traditional cost down to industrialization
From traditional cost down to industrialization Achieved: €250 million in FY's 09 and 10 Additional: €350 million in FY's 11 and 12 ~35% reduced Moving assembly cycle time $ line: Further lead times reduction ~20% blade Optimized design: weight reduction $ Blades, tower, nacelle ~20% logistics Cost
Slide 14: We push wind industry innovation
We push wind industry innovation Tripled R&D Direct Drive budget Continuous improvement in two years 3 MW Blade 0 .1 9 Specific SWP Blade Weight Direct Drive optimization 0 .1 5 specific weight Permanent magnet, 0 .1 1 Continuous weight suitable for offshore reduction makes 0 .0 8 50% less parts l
Slide 15: Concentrated Solar Power: Potential and commitment are there
Concentrated Solar Power: Potential and commitment are there Southwest USA Spain 300 x 300 km CSP would provide world energy demand Potential site in planning Construction In Operation Source: Bloomberg, EER 2010 Page 15 June 29, 2010 Capital Market Day Energy © Siemens AG 2010. All rights reserved.
Slide 16: Siemens Renewable Energy with the right answer
Siemens Renewable Energy with the right answer Perfect portfolio Lebrija: Pioneer solar thermal plant Lead in products Capacity of 50 MW Receiver Parabolic trough Turbine technology Industrialized Lead in systems assembly process Solar field Power block Commercial operations 2011 Lea
Slide 17: Renewables: A magnet for energy
Renewables: A magnet for energy id n gr ctio V H ne n co Power block incl. steam turbine Back-up Capacity & Hybrid Solution id n gr io V ect HVDC M n n co Sm art Gri d Synergy grid access: Hit rate doubled Example Gwynt y Môr 160 turbines + service (€ 1 bn) Grid connection (> € 100 m) Page 17 June 2
Slide 18: Renewables: Strength now and into the future
Renewables: Strength now and into the future Strengthen leadership in offshore and become #3 in total wind in 2012 Key message 2 Expand to new wind areas and drive order entry to record level Key message 3 Drive renewable energy to wholesale parity Become leading Concentrated Solar Power company Key
Slide 19: Reconciliation and Definitions for Non-GAAP Measures (I)
Reconciliation and Definitions for Non-GAAP Measures (I) To supplement Siemens’ Consolidated Financial Statements presented in accordance with International Financial Reporting Standards, or IFRS, Siemens presents the following supplemental financial measures: New orders and order backlog Adjust
Slide 20: Reconciliation and Definitions for Non-GAAP Measures (II)
Reconciliation and Definitions for Non-GAAP Measures (II) New orders and order backlog (continued) New orders are generally recognized immediately when the relevant contract becomes legally effective and binding. The only exception are orders with short overall contract terms. In this case, a separa
Slide 21: Reconciliation and Definitions for Non-GAAP Measures (III)
Reconciliation and Definitions for Non-GAAP Measures (III) Return on equity, or ROE In line with common practice in the financial services industry, Siemens Financial Services (SFS) uses return on equity, or ROE, as one of its key profitability measures. Siemens defines ROE as annualized Income befo
Slide 22: Reconciliation and Definitions for Non-GAAP Measures (IV)
Reconciliation and Definitions for Non-GAAP Measures (IV) EBITDA (adjusted) and EBIT (adjusted) Siemens defines EBITDA (adjusted) as EBIT (adjusted) before amortization (which in turn is defined as Amortization and impairments of intangible assets other than goodwill) and Depreciation and impairment
Slide 23: Reconciliation and Definitions for Non-GAAP Measures (V)
Reconciliation and Definitions for Non-GAAP Measures (V) Limitations Associated with Siemens’ Supplemental Financial Measures The supplemental financial measures reported by Siemens may be subject to limitations as analytical tools. In particular: With respect to adjusted or organic growth rates o