Siemens AG - revenue 2010-2019
Siemens AG has managed to increase its annual revenue from 2018 by three percent, meaning that annual revenue surpassed 86.8 billion euros in the 2019 fiscal year.
Restructure and redirection
Revenue grew in 2019 at Siemens in spite of a struggling power and gas division, which will be spun off by the end of 2020. In fact, revenue from this division dropped from around 18 billion euros in 2018 to about 17.66 billion euros in 2019. It is no surprise then that - when Siemens announced earlier that the power and gas division was to be spun off - shares for the company went up 5.5 percent. As is too often the case, the announcement about the spin-off was accompanied with that of job cuts. Over 10,000 employees in digital, infrastructure and corporate fields will be laid off in order to save cash. On the upside, some new positions were expected created, and employee figures rose from 377,000 in 2018 to 383,000 in 2019.
Restructure and redirection
Revenue grew in 2019 at Siemens in spite of a struggling power and gas division, which will be spun off by the end of 2020. In fact, revenue from this division dropped from around 18 billion euros in 2018 to about 17.66 billion euros in 2019. It is no surprise then that - when Siemens announced earlier that the power and gas division was to be spun off - shares for the company went up 5.5 percent. As is too often the case, the announcement about the spin-off was accompanied with that of job cuts. Over 10,000 employees in digital, infrastructure and corporate fields will be laid off in order to save cash. On the upside, some new positions were expected created, and employee figures rose from 377,000 in 2018 to 383,000 in 2019.
