A fundamental revaluation of the share has not yet taken place.
(Photo: Siemens [M])
Munich, Dusseldorf The calculus in the demerger of Siemens was clear: By separating the low-margin power plant business, the group with a stronger focus on digital technology should be raised to a new level of profitability. Then, so it was hoped, the capital markets would also reassess Siemens – more like a technology company and not like a conglomerate.
When Roland Busch reports to the shareholders for the first time as CEO at the general meeting this Thursday, he can at least partially report completion. With an operating return of 15 percent, Siemens has reached a new level of profitability from which it is expected to continue upwards.
However, a fundamental revaluation of the Siemens share has not yet taken place. The papers have gained around six percent on the stock exchange within a year. However, the valuation levels of companies from the IT sector are far removed, even industrial conglomerates sometimes perform better on the stock exchange than the Munich ones.
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