Siemens Energy (ENR) AGM 2025 summary

Opening remarks and agenda

• The meeting was opened virtually from Munich, with all board members present and formalities explained, including voting and participation procedures.

• The agenda and management's proposed resolutions were distributed in advance, and the meeting was broadcast live with multilingual support.

Financial performance review

• Fiscal year 2024 saw a strong turnaround, with revenue up 12.8% to €34.5 billion and earnings before special items at €345 million.

• Free cash flow before taxes more than doubled to €1.859 billion, and the share price rose by over 300% year-on-year.

• The order backlog reached €123 billion, with significant growth in gas services, grid technologies, and transformation of industry.

• Divestments included the sale of Trench Group, Windar, Maschinenfabrik Reinhausen, and an 18% stake in Siemens Limited India.

Board and executive committee updates

• Two new Supervisory Board members, Dr. Feiyu Xu (AI expert) and Anja Dotzenrath (energy executive), were elected, enhancing expertise in digitalization and renewables.

• Six existing members were re-elected, and the role of lead independent director was reaffirmed.

• The Supervisory Board established a new committee focused on Digitalization and Artificial Intelligence.