• Home
  • News
  • Reviews
  • Digital technology
  • Cloud
  • Data analytics
  • Digital leaders
  • IoT
  • Opinion
  • Events
  • Resources
  • Data Strategy Spotlight
  • Newsletters
  • Sign in
  • Events
    • Follow V3 Events

      Sign up to receive email alerts about our events

      Sign up
  • Resources
    • V3resources 120x194
      Network Security Forensics For GDPR Compliance

      An effective network security forensics strategy can assist an organization in providing key compliance-related details as part of any post-incident GDPR investigation.

      Download
      V3resources 120x194
      10 ways to increase productivity with managed Office 365

      For businesses large and small, relying on a cloud-based collaboration and productivity suite such as Microsoft Office 365 is becoming the norm. Enhancing productivity in your organisation is vital to get ahead in 2017 - and using Office 365 can help, if it's used right...

      Download
      Find resources
      Search by title or subject area
      View all resources
  • Data Strategy Spotlight
  • Sign in
  •  
    •  

      You are currently accessing V3 .co.uk via your Enterprise account.

      Personalise your on site experience

      Download and use the apps

      Access your subscription from outside of the office

      Get relevant news and insight straight to your inbox

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • RSS
    • Twitter
    • Newsletters
    • Facebook
    • YouTube
  • Register
  • News
  • Reviews
  • Digital technology
  • Cloud
  • Data analytics
  • Digital leaders
  • IoT
  • Opinion
 
  •  

    You are currently accessing V3 .co.uk via your Enterprise account.

    Personalise your on site experience

    Download and use the apps

    Access your subscription from outside of the office

    Get relevant news and insight straight to your inbox

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
V3.co.uk
  • Web

Siemens UK announces record turnover and new chief

by Simon Robinson

  • Tweet  
  • Facebook  
  •  
  •  
  • Send to  
0 Comments

Siemens has announced record #2 billion turnover for its UK electronics and electrical engineering business, a 34 per cent increase on the last fiscal year.

Juergen Gehrels, chief executive of Siemens plc, described the news as the "highlight" of the year, and was confident that the figure was set to double over the next five years. He said the UK was a ?dynamic and lively place? in 1997, and that, as the electrical market had grown by an estimated six per cent to around #55 billion, Siemens had once again increased its market share.

Though no profit figures were available, Gehrels stated that the UK operation was ?very profitable?. There were just two lossmaking operations in the UK in 1997, one of which was the newly opened Siemens Microelectronics plant in North Tyneside, though no-one would reveal the second.

Despite the increased turnover, exports fell by nearly 20 per cent to #261 million. However, this fall was not attributed to the strength of sterling, but to fluctuations in the project cycle from one year to the next.

Gehrels said that Siemens? move into the services market would remain a prime objective, stating that turnover in this sector had increased threefold in the past three years to #500 million, and that Siemens Network Systems and Siemens Business Services were becoming increasingly important parts of the business.

On the product side, a semiconductor design centre is planned in North Tyneside to complement the production site already there. Overall, investment in research and development increased by 2.2 per cent to #125 million.

Siemens also has high hopes of the single European currency as 65 per cent of its worldwide sales are in Europe, according to Bernd Euler, finance director at Siemens plc. ?We believe that the Euro will accelerate the integration of European markets and improve economic conditions throughout Europe,? he said.

Siemens has estimated that the lower transaction costs and shorter transaction times associated with the Euro will save the company around DM35 million annually. The company also expects that the costs associated with converting to the Euro will be paid back within three years through these savings.

Euler also issued a warning to Euro-sceptics. ?If UK companies are not prepared to quote their prices in Euros then they will lose out in the long run,? he said.

Meanwhile, Juergen Gehrels has announced that he will step down as chief executive of Siemens plc at the end of March this year, after almost 12 years of overall resposibility for Siemens? activities in the UK. He will take on the role as non-executive chairman of the company, and will be replaced by Alan Wood, currently group managing director.

  • Tweet  
  • Facebook  
  •  
  •  
  • Send to  
  • Topics
  • Web

V3 Latest

TSMC starts high volume production of 7nm chips
TSMC starts high volume production of 7nm chips

Claims to have "the most competitive logic density" in the industry

  • Components
  • 25 April 2018
Dell unveils Precision 5530 2-in-1 mobile workstation with Radeon Pro WX Vega M GL graphics
Dell unveils Precision 5530 2-in-1 mobile workstation with Radeon Pro WX Vega M GL graphics

Dell's high-end mobile workstations upgraded with Intel Coffee Lake CPUs

  • Hardware
  • 25 April 2018
Europol coordinates close down of 'world's biggest' DDoS-for-hire service
Europol coordinates close down of 'world's biggest' DDoS-for-hire service

Webstresser admins were also arrested in the UK, Croatia, Canada and Serbia

  • Security
  • 25 April 2018
Almost 90 per cent of UK websites suffer from 'serious' security flaws
Almost 90 per cent of UK websites suffer from 'serious' security flaws

Security firm claims that 117,638 sites out of 135,035 analysed contain serious security flaws

  • Security
  • 25 April 2018
Back to Top

Most read

Oracle: Java SE 8 business users must buy a licence from January next year
Oracle: Java SE 8 business users must buy a licence from January next year
AI could improve global stability from around 2040, claims US thinktank RAND Corporation
AI could improve global stability from around 2040, claims US thinktank RAND Corporation
How NoSQL database technology and IoT sensors are being put to work saving endangered elephants and tigers
How NoSQL database technology and IoT sensors are being put to work saving endangered elephants and tigers
British security start-up launches lip-sync authentication technology
British security start-up launches lip-sync authentication technology
Almost 90 per cent of UK websites suffer from 'serious' security flaws
Almost 90 per cent of UK websites suffer from 'serious' security flaws
  • Contact
  • Marketing solutions
  • Enterprise IT Events
  • About
  • Terms & conditions
  • Privacy policy
  • RSS
  • Twitter
  • Newsletters
  • Facebook
  • YouTube

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017