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MarketScreener Homepage  >  Equities  >  Xetra  >  Siemens AG    SIE   DE0007236101

SIEMENS AG

(SIE)
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Siemens Gamesa Buys Senvion Assets for EUR200 Million

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10/21/2019 | 02:38am EDT

By Carlo Martuscelli

Siemens Gamesa Renewable Energy said Monday that it is acquiring a number of assets, including a manufacturing plant in Portugal, from Senvion SE (SEN.XE) for 200 million euros ($223.3 million).

The Madrid-listed renewable energy company said that it is acquiring a large part of Senvion's onshore service business, all of its intellectual property, and a factory that manufactures blades for onshore wind turbines.

"The addition of these assets helps to diversify Siemens Gamesa's business mix and geographical exposure with contracts that offer long-term visibility and renewal rates that have historically been very high," the company said.

The company said that the acquisition of the Portuguese manufacturing plant will also help reduce its dependency on Asian suppliers, helping to mitigate volatility caused by ongoing trade issues.

It expects the deal to close in the first half of the 2020 fiscal year, between October 2019 and March next year.

Siemens Gamesa is majority owned by Siemens AG.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com; @carlomartu

Stocks mentioned in the article
ChangeLast1st jan.
BYD COMPANY LIMITED -1.47% 43.5 End-of-day quote.11.97%
SENVION S.A. -10.10% 0.0178 Delayed Quote.-3.78%
SIEMENS AG -0.57% 98.53 Delayed Quote.-15.45%
SIEMENS GAMESA RENEWABLE ENERGY, S.A. 1.92% 15.135 End-of-day quote.-3.20%
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Financials
Sales 2020 56 249 M 62 475 M 62 475 M
Net income 2020 4 051 M 4 500 M 4 500 M
Net Debt 2020 30 347 M 33 706 M 33 706 M
P/E ratio 2020 20,9x
Yield 2020 3,74%
Capitalization 78 287 M 87 034 M 86 952 M
EV / Sales 2019
EV / Sales 2020 1,93x
Nbr of Employees 385 000
Free-Float 89,6%
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Technical analysis trends SIEMENS AG
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 105,66 €
Last Close Price 98,53 €
Spread / Highest target 31,9%
Spread / Average Target 7,24%
Spread / Lowest Target -40,2%
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Managers
NameTitle
Josef Kaeser President & Chief Executive Officer
Jim Hagemann Snabe Chairman-Supervisory Board
Roland Emil Busch Deputy CEO, COO, CTO & Labour Director
Ralf Peter Thomas Chief Financial Officer
Hanna Hennig Chief Information Officer
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