8,503 $m
Siemens is one of the world’s most recognized integrated technology companies, but the global economy and internal challenges forced Siemens to lower its revenue outlook for 2013. To meet its goal of saving six billion euros in the next two years, Europe’s largest engineering company has been selling off underperforming parts of the company and refocusing on more profitable areas. Unwinding the Nokia Siemens Networks joint venture and moving out of the solar business, it’s strengthening the wind and hydroelectric power segments of its renewable energy business and looking for opportunities with the German Energiewende. In the wake of its second profit warning for 2013, the company replaced its CEO with CFO Joe Kaeser in July 2013. The brand consistently performs well in Interbrand’s Best Global Green Brands report and was named the world’s most sustainable industrial company in the Dow Jones Sustainability Index 2012. Siemens increased its “green revenue,” or products and services in the fields of energy efficiency, renewable energies, and environmental technologies, to USD $44 billion. The brand’s newly launched Infrastructure & Cities division was selected to provide solutions for the FIFA Confederations Cup in 2013 and the World Cup in 2014. With its “One Siemens” initiative designed to pave a “path to sustainable value creation,” and its “Answers campaign,” the brand strengthened its position as a pioneer addressing the world’s key energy and consumption issues with forward-looking solutions.