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Siemens Financial Services targets stronger growth with new business set-up
Total assets to be doubled in the medium term
Expansion in emerging markets

29.09.2011 + + + The Financial Services unit of Siemens (SFS) will adopt a new organizational set-up effective October 1, 2011, and combine its resources and expertise in the capital business into two comprehensive business models: "Project and Structured Finance" and "Commercial Finance". The newly created, global SFS businesses will be geared to the Siemens Sectors and markets. In taking this approach, SFS will forcefully carry out its growth strategy and provide even stronger support to the operating business of Siemens. In particular, the rapidly growing demand for financial solutions in the business-to-business area that involves both Siemens and external customers will be served more intensely. "Financing has become critically important for our customers in all segments, and we help empower them with comprehensive solutions in energy, infrastructure and healthcare," said Joe Kaeser, CFO of Siemens AG. Furthermore, SFS has recently expanded its presence in emerging markets such as China, India and Russia. Roland Chalons-Browne, CEO of Financial Services, said: "We intend to generate profitable growth for Siemens. Our goal is to double SFS' total assets over the medium term, based on the growth projections for Siemens' markets."

In the area of Project and Structured Finance (PSF), the following new businesses will be formed: PSF Energy will serve customers in the Energy Sector – for example in the financing of power-plant construction or renewable energy projects. In PSF Infrastructure, Cities & Industry, resources and expertise for industry customers, Siemens' Industry Sector as well as the newly created Siemens Sector Infrastructure & Cities will be bundled. SFS' project & structured finance expertise in the healthcare segment will also be pooled. Standardized leasing and equipment financing solutions will be combined in Commercial Finance (COF). "In an increasingly complex financial environment, financing solutions will become more and more important for our customers. Frequently, it is the tailored financing package for a project that proves to be the deciding factor in the award of a contract to Siemens," Chalons-Browne said.

SFS' growth strategy has been underpinned by a series of strategic intiatives, including the acquisition of a leasing company in Russia, the founding of a financial company in India and the establishment of the Siemens Bank in Germany.

The Financial Services unit of Siemens is an international provider of financial solutions in the business-to-business area. The international network of financial companies coordinated by Siemens Financial Services GmbH in Munich, comprises more than 2,500 employees worldwide. Financial Services supports Siemens as well as other companies, with a particular focus on the Sectors of Energy, Industry and Healthcare. The unit finances infrastructure, equipment and working capital and acts as an expert manager of financial risks within Siemens. End of June 2011 the total assets amounted to EUR 12.8 billion. For more information see: http://www.siemens.com/finance


Source: Siemens Financial Services GmbH
Hartmut Hübner

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