DOCSLIB.ORG

Siemens Annual Report 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Siemens Annual Report 2020 Annual Report 2020 Table of A. contents Combined Management Report A.1 Organization of the Siemens Group and basis of presentation 2 A.2 Financial performance system 3 A.3 Segment information 6 A.4 Results of operations 18 A.5 Net assets position 22 A.6 Financial position 23 A.7 Overall assessment of the economic position 27 A.8 Report on expected developments and as sociated material opportunities and risks 29 A.9 Siemens AG 46 A.10 Compensation Report 50 A.11 Takeover-relevant information 82 B. Consolidated Financial Statements B.1 Consolidated Statements of Income 88 B.2 Consolidated Statements of Comprehensive Income 89 B.3 Consolidated Statements of Financial Position 90 B.4 Consolidated Statements of Cash Flows 92 B.5 Consolidated Statements of Changes in Equity 94 B.6 Notes to Consolidated Financial Statements 96 C. Additional Information C.1 Responsibility Statement 166 C.2 Independent Auditor ʼs Report 167 C.3 Report of the Super visory Board 176 C.4 Corporate Governance 184 C.5 Notes and forward-looking s tatements 199 PAGES 1 – 86 A. Combined Management Report Combined Management Report A.1 Organization of the Siemens Group and basis of presentation A.1 Organization of the Siemens Group and basis of presentation Siemens is a technology company that is active in nearly all Reconciliation to Consolidated Financial Statements is countries of the world, focusing on the areas of automation Siemens Advanta, formerly Siemens IoT Services, a stra- and digitalization in the process and manufacturing indus- tegic advisor and implementation partner in digital trans- tries, intelligent infrastructure for buildings and distributed formation and industrial internet of things (IIoT). energy systems, smart mobility solutions for rail and road and medical technology and digital healthcare services. Our reportable segments and Portfolio Companies may do business with each other, leading to corresponding Siemens comprises Siemens Aktiengesellschaft orders and revenue. Such orders and revenue are elimi- (Siemens AG), a stock corporation under the Federal laws nated on the Group level. of Germany, as the parent company and its subsidiaries. Our Company is incorporated in Germany, with our cor- NON-FINANCIAL MATTERS porate headquarters situated in Munich. As of Septem- OF THE GROUP AND SIEMENS AG ber 30, 2020, Siemens had around 293,000 employees. Siemens has policies for environmental, employee and social matters, for the respect of human rights, and anti- As of September 30, 2020, Siemens has the following re- corruption and bribery matters, among others. Our busi- portable segments: Digital Industries, Smart Infrastruc- ness model is described in chapters A.1 and A.3 of this ture, Mobility and Siemens Healthineers, which together Combined Management Report. Reportable information form our “Industrial Businesses” and Siemens Financial that is necessary for an understanding of the develop- Services (SFS), which supports the activities of our indus- ment, performance, position and the impact of our ac- trial businesses and also conducts its own business with tivities on these matters is included in this Combined external customers. Furthermore, we report results for Management Report, in particular in chapters A.3 Portfolio Companies, which comprises businesses that through A.7. Forward-looking information, including risk are managed separately to improve their performance. disclosures, is presented in chapter A.8. Chapter A.9 During fiscal 2020, the energy business, consisting of includes additional information that is required to be the former reportable segment Gas and Power and the reported in the Combined Management Report related to approximately 67 % stake held by Siemens in Siemens the parent company Siemens AG. As supplementary infor- Gamesa Renewable Energy, S. A. (SGRE) – also a former mation, amounts reported in the Consolidated Financial reportable segment – was classified as held for disposal Statements and the Annual Financial Statements of and discontinued operations. Siemens transferred the Siemens AG related to such non-financial matters, and ad- energy business into a new company, Siemens Energy AG, ditional explanations thereto, are included in B.6 NOTES TO and in September 2020 listed it on the stock market via a CONSOLIDATED FINANCIAL STATEMENTS, NOTES 17, 18, 22, 26 and 27, spin-off. Siemens allocated 55.0 % of its ownership inter- and in the NOTES TO THE ANNUAL FINANCIAL STATEMENTS OF est in Siemens Energy AG to its shareholders and a further SIEMENS AG FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2020, NOTES 9.9 % were transferred to Siemens Pension-Trust e. V. The 16, 17, 20, 21 and 25. In order to inform the users of the finan- remaining 35.1 % of shares in Siemens Energy AG are held cial reports in a focused manner, these disclosures are not by Siemens and reported within Reconciliation to Consol- subject to a specific non-financial framework – in contrast to idated Financial Statements as Siemens Energy Invest- the disclosures in our separate “Sustainability Information ment. For further information, see NOTES 3 and 4 in B.6 2020” document, which are based on the standards devel- NOTES TO CONSOLIDATED FINANCIAL STATEMENTS. Also part of oped by the Global Reporting Initiative (GRI). ANNUAL REPORT 2020 2 Combined Management Report A.2 Financial performance system A.2 Financial performance system A.2.1 Overview A.2.3 Profitability and ­capital ­efficiency The Siemens Financial Framework includes targets that we aim to achieve over the cycle of the business activities. Within the Siemens Financial Framework, we aim to achieve margins that are comparable to those of our rel- evant competitors. Therefore, we have defined profit A.2.2 Revenue growth margin ranges for our industrial businesses which are based on the profit margins of their respective relevant In the Siemens Financial Framework we aim to achieve a competitors. Profit margin is defined as profit of the re- revenue growth range of 4 % to 5 % per year on a compa- spective business divided by its revenue. For our industrial rable basis. Our primary measure for managing and con- businesses, profit represents EBITA adjusted for operating trolling our revenue growth is comparable growth, be- financial income (expenses), net, and amortization of cause it shows the development in our business net of intangible assets not acquired in business combinations currency translation effects, which arise from the exter- (Adjusted EBITA). nal environment outside of our control, and portfolio effects, which involve business activities which are either We have set the following margin ranges in our Siemens new to or no longer a part of the respective business. Financial Framework: Currency translation effects are the difference between Margin ranges revenue for the current period calculated using the ex- Margin range change rates of the current period and revenue for the Digital Industries 17 – 23 % current period calculated using the exchange rates of Smart Infrastructure 10 – 15 % the comparison period. For calculating the percentage Mobility 9 – 12 % change year-over-year, this absolute difference is divided Siemens Healthineers 17 – 21 % by revenue for the comparison period. A portfolio effect Industrial Businesses 11 – 15 % arises in the case of an acquisition or a disposition and is calculated as the change year-over-year in revenue result- Siemens Financial Services (ROE after tax) 17 – 22 % ing specifically from the transaction. For calculating the percentage change, this absolute change is divided by The margin range for Siemens Healthineers reflects our revenue for the comparison period. For orders, we apply expectation as a majority shareholder. the same calculations for currency translation and port- folio effects as described above. ANNUAL REPORT 2020 3 Combined Management Report A.2 Financial performance system In line with common practice in the financial services A.2.5 Liquidity and dividend business, our financial indicator for measuring capital efficiency at Siemens Financial Services is return on We intend to continue providing an attractive return to equity after tax, or ROE after tax. ROE is defined as our shareholders. Under the Siemens Financial Frame- Siemens Financial Services’ profit after tax, divided by its work, our intention is to propose a dividend whose distri- average allocated equity. bution volume is within a dividend payout range of 40 % to 60 % of Net income attributable to shareholders of For purposes of managing and controlling profitability at Siemens AG, which we may adjust for this purpose to the Group level, we use net income as our primary mea- exclude selected exceptional non-cash effects. As in the sure. This measure is the main driver of basic earnings past, we intend to fund the dividend payout from Free per share (EPS) from net income, which we used in com- cash flow. To provide an assessment of our ability to gen- munication to the capital markets in fiscal 2020. erate cash, and ultimately to pay dividends, we use the cash conversion rate of Industrial Businesses, defined as We seek to work profitably and as efficiently as possible the ratio of Free cash flow from Industrial Businesses to with the capital provided by our shareholders and lend- Adjusted EBITA Industrial Businesses. Because growth re- ers. For purposes of managing and controlling our capital quires investments, we aim to achieve a cash conversion efficiency, we use return on capital employed, or ROCE, rate of 1 minus the annual comparable revenue growth as our primary measure in our Siemens Financial Frame- rate of Industrial Businesses. work. Our long-term goal is to achieve ROCE within a range of 15 % to 20 %. At the Annual Shareholders’ Meeting, the Managing Board, in agreement with the Supervisory Board, will submit the following proposal to allocate the unappro- A.2.4 Capital structure priated net income of Siemens AG for fiscal 2020: to distribute a dividend of € 3.50 on each share of no par Sustainable revenue and profit development is supported value entitled to the dividend for fiscal 2020 existing at by a healthy capital structure.
Load more

Recommended publications
  • Siemens Company Presentation
    Siemens AG August 2021 Unrestricted | © Siemens 2021 | August 2021 Disclaimer This document contains statements related to our future business and financial Siemens neither intends, nor assumes any obligation, to update or revise these performance and future events or developments involving Siemens that may forward-looking statements in light of developments which differ from those constitute forward-looking statements. These statements may be identified by anticipated. words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. We may also make forward-looking statements in other reports, in prospectuses, in This document includes – in the applicable financial reporting framework not presentations, in material delivered to shareholders and in press releases. In clearly defined – supplemental financial measures that are or may be alternative addition, our representatives may from time to time make oral forward-looking performance measures (non-GAAP-measures). These supplemental financial statements. Such statements are based on the current expectations and certain measures should not be viewed in isolation or as alternatives to measures of assumptions of Siemens’ management, of which many are beyond Siemens’ Siemens’ net assets and financial positions or results of operations as presented control. These are subject to a number of risks, uncertainties and factors, in accordance with the applicable financial reporting framework in its including, but not limited to, those described in disclosures, in particular in the Consolidated Financial Statements. Other companies that report or describe chapter Report on expected developments and associated material opportunities similarly titled alternative performance measures may calculate them differently. and risks of the Annual Report, and in the Half-year Financial Report, which should be read in conjunction with the Annual Report.
    [Show full text]
  • Rules Governing the Share Capital of German Public Companies by Frank Wooldridge
    Rules governing the share capital of German public companies by Frank Wooldridge he above rules are somewhat detailed and some - company. However, it contains detailed rules governing times rather complex. A good elementary account the maintenance of capital. Certain of these rules, Tof them by Schneider and Heidenhain is given in including the prohibition imposed on a public company The German Stock Corporation Act ( 2nd ed, pub Kluwer, subscribing for its own shares contained in paragraph 2000) which has been of considerable interest and help to 56 (1) AktG are considered below. The imposition of the author of this article. ancillary obligations upon shareholders is also considered below, where the rules governing the increase and The articles of a public company ( Aktiengesellschaft ) are reduction of capital, which are rather complex, are dealt required to specify the amount of the company’s share with in outline. capital, which has to be denominated in euros. The minimum capital of a public company is at present THE PROVISIONS OF PARAGRAPH 56 AKTG €50,000 (para 7 AktG ). As in the United Kingdom, shares may be issued without a par value ( Stückaktien ) or with one The most important of the abov e provisions would (Nennbetragsaktien ) (para 8(2) AktG ). Par value shares are seem to be those contained in paragraph 56(1) and 562) required to have the value of one euro or a multiple thereof AktG . Paragraph 56(1) AktG provides that a company may (para 8(2) AktG ). The shares in an Aktiengesellschaft are not subscribe for its own shares. Any purported indivisible, as are the rights attaching to each share.
    [Show full text]
  • Media Contacts
    Media Contacts: Sarika Patel GolinHarris 972-341-2504 [email protected] Debbie Shemony Texas Instruments 301-407-9338 [email protected] (Please do not publish these numbers or e-mail addresses.) A better way to cloud: TI’s new KeyStone multicore SoCs revitalize cloud applications Announcement quote sheet 3L Ltd. “Supporting TI’s new KeyStone-based multicore SoCs is a natural extension for us, as we have been simplifying the development of solutions involving multiple processing elements for over 20 years,” said Peter Robertson, President and TechFounder, 3L Ltd. “Together with TI, we’re making designing with multicore easier for developers by automating the interconnection management when tasks are removed between cores or devices. The end result of our collaboration is making the development processes easier, faster and more efficient for designers.” 6WIND “We are delighted to support TI as it broadens its KeyStone-based SoC product line into additional markets with critical network performance requirements,” said Eric Carmès, CEO, 6WIND. “As one of the first members of the TI Design Network to announce support for the KeyStone multicore architecture, we look forward to providing the proven 6WINDGate™ packet processing software to our mutual customers. The combination of the 6WINDGate software and the newest KeyStone architecture-based SoCs represent an ideal system solution for the demanding network performance challenges faced in today’s mobile and cloud infrastructure markets.” Advantech “With TI’s new KeyStone-based multicore SoCs, Advantech is able to expand its product lines from existing DSP-based signal and media processing centric solutions to hybrid designs that leverage multiple ARM and DSP cores in a seamless integration for control and data processing,” said David Lin, senior director of DSP and video solutions, Advantech.
    [Show full text]
  • Master Thesis Master's Programme in Industrial Management and Innovation, 120 Credits
    Master Thesis Master's Programme in Industrial Management and Innovation, 120 credits Capturing Business Model Innovation Driven by the Emergence of New Technologies in Established Firms A Case Study at Siemens Healthineers Thesis in Industrial Innovation Management, 30 credits Halmstad 2018-06-16 Emma Bäckman, Josefin Ellmarker HALMSTAD UNIVERSITY Abstract Background: It is argued that the emergence of new technologies and the digitalization can improve the healthcare, make it more efficient, personalized and available for everyone. The healthcare has already begun to become more digitized and there is no doubt that this trend will continue. Moreover, it is argued that AI will have a major impact on the MedTech and healthcare industry. Problem discussion: To stay competitive it has been concluded that firms must update and rethink their business models constantly thus, to undertake business model innovation. This applies specially to established firms that have been successful with the same business model for a long time. Despite the fact that the existing literature addresses the importance of business model innovation, very little attention has been drawn to how to actually achieve this change. Purpose: The purpose of this study is to explore how business models in established firms within the MedTech industry develops over time due to the emergence of new technologies. More specifically, we focus on how artificial intelligence is influencing and will influence the business models in the MedTech industry. Methodology: This study has been performed through a single case study at Siemens Healthineers. The primary data has been gathered through four meetings with people with expertise in the field of artificial intelligence as well as the MedTech and healthcare industry.
    [Show full text]
  • 1A APPENDIX a UNITED STATES COURT of APPEALS for THE
    1a APPENDIX A UNITED STATES COURT OF APPEALS FOR THE FEDERAL CIRCUIT ___________________ MENTOR GRAPHICS CORPORATION, AN OREGON CORPORATION, Plaintiff-Cross-Appellant v. EVE-USA, INC., A DELAWARE CORPORA- TION, SYNOPSYS EMULATION AND VERIFI- CATION S.A.S., FORMED UNDER THE LAWS OF FRANCE, SYNOPSYS, INC., A DELAWARE CORPORATION, Defendants-Appellants ___________________ 2015-1470, 2015-1554, 2015-1556 ___________________ Appeals from the United States District Court for the District of Oregon in Nos. 3:10-cv-00954-MO, 3:12-cv-01500-MO, 3:13-cv-00579-MO, Judge Michael W. Mosman. ___________________ Decided: March 16, 2017 ___________________ MARK E. MILLER, O’Melveny & Myers LLP, San Francisco, CA, argued for plaintiff-cross-appellant. 2a Also represented by ANNE E. HUFFSMITH, LUANN LO- RAINE SIMMONS. E. JOSHUA ROSENKRANZ, Orrick, Herrington & Sutcliffe LLP, New York, NY, argued for defendants- appellants. Also represented by DANIEL A. RUBENS, ANDREW D. SILVERMAN; ROBERT M. LOEB, ERIC SHUM- SKY, Washington, DC; INDRA NEEL CHATTERJEE, VICKI L. FEEMAN, TRAVIS JENSEN, SCOTT T. LONARDO, Menlo Park, CA; WILLIAM H. WRIGHT, Los Angeles, CA. SEAN C. CUNNINGHAM, DLA Piper LLP (US), San Diego, CA, for amici curiae Hewlett-Packard Com- pany, Aruba Networks, Inc., NETGEAR, Inc., Newegg Inc., Oracle America, Inc., Ruckus Wireless, Inc., Safeway Inc., SAS Institute Inc., Varian Medical Sys- tems, Inc., VeriFone, Inc., VIZIO, Inc. ________________________ Before LOURIE, MOORE, and CHEN, Circuit Judges. MOORE, Circuit Judge. The present appeal arises from litigation in the District of Oregon between Mentor Graphics Corp. (“Mentor”) and Synopsys, Inc., Synopsys Emulation and Verification S.A.S., and EVE-USA, Inc.
    [Show full text]
  • Trix/Minitrix New Items 2017 Brochure HERE
    New Items 2017 Trix. The Fascination of the Original. New Items 2017 E E © Gebr. Märklin & Cie. GmbH – All rights reserved. © Gebr. Märklin & Cie. GmbH – All rights reserved. Dear Trix Fans, Welcome to the New Year for 2017! This year we are again presenting our new items brochure with many impressive models for Minitrix, Trix H0, and Trix Express. Through all of the eras, the railroad has provided transporta- tion for business and industry. It has also left its mark on the life of entire cities and regions over many generations. It is thus no wonder that we have given special importance to freight service as models. This year we are spreading the entire range across model railroad rails. Regardless of whether it is the impressive class 42 steam locomotive of the Fifties or the latest variations of the Vectron as the TRAXX family. We are bringing impressive, prototypical trains/train New Items for MiniTrix 2017 2 – 55 New Items for Trix H0 2017 56 – 105 runs to your model railroad scenery with car sets in all eras, some of them with new tooling. However, 2017 is also the year of the “TransEuropExpress”, which seven railroads started exactly 60 years ago with the ambitious plan to bring elegant, comfortable traveling to the rails. Come with us to explore this concept through the eras New Items for Trix Express 2017 106–109 of the history of long-distance passenger service. Now, give free rein to your personal operating and collector passion and discover your favorites on the following pages. Fulfill your wishes – your local specialty dealer is waiting for your visit! MiniTrix Club Model for 2017 6– 7 MHI Exclusiv 1/2017 4 – 8 Your Trix Team wishes you much fun exploring the new items H0 Trix Club Model for 2017 58 – 59 Museumcars 117 for 2017! Trix Club 110 Reparatur-Service 118 Registration Form 113 General References 118 Trix Club Cars for 2017 111 Important Service Information 118 Trix Club Anniversary Car 112 Explanation of Symbols 119 Index to the Item Numbers 120 1 © Gebr.
    [Show full text]
  • Uwlink Interface / Development Platform
    UWLink Interface / Development platform UWLink Mainboard User Guide Hardware / Tool description User Guide 1.0, 2010-06-01 Wireless Control Edition 2010-07-16 Published by Infineon Technologies AG 81726 Munich, Germany © 2010 Infineon Technologies AG All Rights Reserved. Legal Disclaimer The information given in this document shall in no event be regarded as a guarantee of conditions or characteristics. With respect to any examples or hints given herein, any typical values stated herein and/or any information regarding the application of the device, Infineon Technologies hereby disclaims any and all warranties and liabilities of any kind, including without limitation, warranties of non-infringement of intellectual property rights of any third party. Information For further information on technology, delivery terms and conditions and prices, please contact the nearest Infineon Technologies Office (www.infineon.com). Warnings Due to technical requirements, components may contain dangerous substances. For information on the types in question, please contact the nearest Infineon Technologies Office. Infineon Technologies components may be used in life-support devices or systems only with the express written approval of Infineon Technologies, if a failure of such components can reasonably be expected to cause the failure of that life-support device or system or to affect the safety or effectiveness of that device or system. Life support devices or systems are intended to be implanted in the human body or to support and/or maintain and sustain
    [Show full text]
  • Medical Additive Manufacturing/ 3D Printing Annual Report 2018 Improving Public Health
    Medical Additive Manufacturing/ 3D Printing Annual Report 2018 Improving Public Health Each year, healthcare needs and costs grow due to an aging population, the rise in chronic diseases, and more. In fact, global healthcare spending is projected to reach nearly $9 trillion by 20201. To address this, practitioners in the healthcare industry continue to look for innovations that can provide quality care to patients at a reasonable cost. But they can’t do it alone. Today, the manufacturing industry is an important partner, with one particularly bright opportunity focused on Medical Additive Manufacturing/3D Printing (AM3DP). From anatomical models to early bioprinting applications, the use of AM3DP is providing benefits for patients and physicians/institutions including: ■ Better patient outcomes ■ Less time in the operating room ■ Reduced costs In 2017, as outlined in this Annual Report, collaboration between hospitals, device manufacturers, U.S. Food and Drug Administration (FDA), and partners such as SME, led to extraordinary strides in identifying industry trends, opportunities, challenges and solutions. These partnerships drive efficiency through best practice sharing as well as accelerate innovation for applications such as bioprinting and tissue fabrication. They also lay the groundwork for 3D printing of organs and scaling up production of tissues which are still decades away. With millions of patients already directly impacted by the technology, this momentum continues into 2018 and beyond where AM3DP will continue to positively impact public health and drive strong business results. This 2017 Annual Report covers: COVER: Justin Ryan holds a pediatric heart model 3D-printed at the ■ Industry Overview Phoenix Children’s Hospital Cardiac 3D Print Lab.
    [Show full text]
  • Top 500 Beschäftigten Stabil
    TRENDTHEMA Die 500 größten UNTERNEHMEN INHALT COMEBACK » Erstaunlich gutes Jahr 2020 trotz Coronakrise. TENDENZ » Große Unternehmen weniger betroffen als kleine. UMSATZ » Rund 40 % mit Zuwächsen gegenüber 2019. MITARBEITER » Zahl der bei den Top 500 Beschäftigten stabil. TREND-TABELLE » Die Ränge 1 bis 500 im Überblick. Tren21_TOP500_für-online-PDF_Deckblatt.indd 1 11.06.21 13:09 Programmierung: RJ Partner GmbH TOP 500: die größten Unternehmen Österreichs RANKING. Das Coronajahr 2020 stellte für viele Unternehmen eine absolute Ausnahmesituation dar. In Summe kamen die TOP 500 Gastronomie oder Events, konnten viele aber überraschend gut durch die Krise. Die gesamte Liste von österreichische Firmen die herben Rück- gänge vor allem im zweiten Quartal 2020 der Nummer ein bis Rang 500 sehen Sie hier auf trend.at. teilweise oder ganz aufholen. Gar nicht so wenige haben in der Pandemie sogar MGEKEHRTE VORZEICHEN: Im wiegend bei den Unternehmen direkt er- massiv zugelegt: die Münze Österreich, vergangenen Jahr, als das TOP- folgt, diesmal ein bisschen schwieriger. die Spar-Gruppe, der Pistolenhersteller U 500-Ranking die Geschäftszahlen Manche wollten – nicht ganz unverständ- Glock oder die cargo-partner Group – um von 2019 repräsentierte, wies der trend an lich – die Werte für ein völlig untypisches nur ein paar Beispiele zu nennen. dieser Stelle darauf hin, dass das außeror- Geschäftsjahr nur ungern melden. Bei 284 Unternehmen der TOP 500 dentlich gute Bild, das sich offenbarte, mit manchen sorgten krisenbedingte Sonder- mussten 2020 gegenüber dem Jahr davor der Lage zum Erscheinungszeitpunkt – effekte für Verzögerungen oder sie hat- Umsatzeinbußen hinnehmen, immerhin Mitte Juni 2020 – längst nichts mehr zu ten – ebenfalls nachvollziehbar – schlicht 211 konnten jedoch Umsatzsteigerungen tun hatte.
    [Show full text]
  • Healthcare & Life Sciences Group
    HEALTHCARE & LIFE SCIENCES GROUP 2 1 Healthcare and life sciences clients have long turned to S&C for help succeeding in today’s rapidly changing business environment. Large and mid-size, public and private, throughout their lifecycles, these companies rely on our multi-disciplinary, global team to address their most complex legal and business challenges and reach their strategic goals. Sector expertise: We offer unrivaled OUR CLIENTS GET… knowledge of the healthcare and life sciences industries, our clients’ businesses and the sector-specific competitive pressures bearing down on them. Sullivan & Cromwell’s Healthcare and Life Sciences Group has negotiated complex transactions and resolved high-stakes disputes for almost three decades. Today, it possesses an unparalleled grasp of these sectors and a practical understanding of the commercial realities underlying them. We position our clients to succeed through it all. The Firm represents international clients in the following healthcare sectors: Pharmaceuticals and Life Sciences Medtech Health Insurers Healthcare Services 2 Legal expertise: Clients come to us An integrated, global team: for the high-quality counsel and hands-on We’re a core group of dedicated healthcare representation we offer across multiple advisers across our 13 offices on four legal specialties, to successfully execute continents with a strong track record of their most important deals and resolve the sector’s most significant transactions critical disputes. We can execute any type and litigation matters, supported by all of transaction in any economic climate or the resources of an integrated, global firm. geographic region. Our experience in this We’re grateful to our clients for trusting sector includes: us with their future, and we’ll continue to help them position themselves for growth M&A and success in this exciting and ever- Corporate finance changing industry.
    [Show full text]
  • List of Active Bayer Companies with at Least a Share of 50% Last Update: 17.8.2020 Country Company
    List of active Bayer companies with at least a share of 50% last update: 17.8.2020 Country Company Algeria Bayer Algerie S.P.A. Argentina Bayer S.A. Argentina Biagro S.A. Argentina Monsanto Argentina SRL Australia Bayer Australia Limited Australia Bayer CropScience Holdings Pty Ltd Australia Bayer CropScience Pty Limited Australia Cotton Growers Services Pty. Limited Australia Imaxeon Pty. Ltd. Australia Monsanto Australia Pty Ltd Bangladesh Bayer CropScience Ltd. Belgium Bayer Agriculture BVBA Belgium Bayer CropScience NV Belgium Bayer NV Bermuda MonSure Limited Bolivia Bayer Boliviana Ltda Bolivia Monsanto Bolivia S.A. Bosnia & Herzeg. Bayer d.o.o. Sarajevo Brazil Alkagro do Brasil Ltda Brazil Bayer S.A. Brazil D&PL Brasil Ltda Brazil Monsanto do Brasil Ltda. Brazil Rede Agro Fidelidade e Intermediacao S.A. Brazil Schering do Brasil Química e Farmacêutica Ltda. Brazil Stoneville Brasil Ltda. Bulgaria Bayer Bulgaria EOOD Burkina Faso Monsanto Burkina Faso SARL Chile Bayer Finance & Portfolio Management S.A. Chile Bayer Finance Ltda. Chile Bayer S.A. Chile Monsanto Chile, S.A. Costa Rica Bayer Business Services Costa Rica, SRL Costa Rica Bayer Medical S.R.L. Costa Rica Bayer S.A. Curacao Pianosa B.V. Germany Adverio Pharma GmbH - 1 - List of active Bayer companies with at least a share of 50% last update: 17.8.2020 Country Company Germany AgrEvo Verwaltungsgesellschaft mbH Germany Alcafleu Management GmbH & Co. KG Germany BGI Deutschland GmbH Germany Bayer 04 Immobilien GmbH Germany Bayer 04 Leverkusen Fußball GmbH Germany Bayer 04 Leverkusen
    [Show full text]
  • Remuneraciones De Siemens Gamesa Se Sustenta En Los Siguientes Principios Generales
    DATOS IDENTIFICATIVOS DEL EMISOR FECHA FIN DEL EJERCICIO DE REFERENCIA: 30-09-2020 C.I.F. A01011253 Denominación Social: SIEMENS GAMESA RENEWABLE ENERGY, S.A. Domicilio Social: PARQUE TECNOLÓGICO DE BIZKAIA, EDIFICIO 222, 48170 ZAMUDIO (BIZKAIA) NOTA: Debido a los redondeos, las cifras presentadas en este Informe Anual sobre Remuneraciones de los Consejeros pueden no ajustarse con precisión a los importes, totales o no, o a aquellos proporcionados en otros documentos relacionados, y los porcentajes pueden no reflejar con total precisión las cifras totales. 2 A. POLÍTICA DE REMUNERACIONES DE LA SOCIEDAD PARA EL EJERCICIO EN CURSO A.1. Explique la política vigente de remuneraciones de los consejeros aplicable al ejercicio en curso. En la medida que sea relevante se podrá incluir determinada información por referencia a la política de retribuciones aprobada por la junta general de accionistas, siempre que la incorporación sea clara, específica y concreta. Se deberán describir las determinaciones específicas para el ejercicio en curso, tanto de las remuneraciones de los consejeros por su condición de tal como por el desempeño de funciones ejecutivas, que hubiera llevado a cabo el consejo de conformidad con lo dispuesto en los contratos firmados con los consejeros ejecutivos y con la política de remuneraciones aprobada por la junta general. En cualquier caso, se deberá informar, como mínimo, de los siguientes aspectos: • Descripción de los procedimientos y órganos de la sociedad involucrados en la determinación y aprobación de la política de remuneraciones y sus condiciones. • Indique y en su caso, explique si se han tenido en cuenta empresas comparables para establecer la política de remuneración de la sociedad.
    [Show full text]