What Siemens is and what this profile covers
Siemens Aktiengesellschaft, or Siemens AG, is the German parent of the consolidated group. Its corporate headquarters are in Munich, with registered offices in Berlin and Munich. The business combines equipment, software, systems integration, maintenance and financing. Group accounts encompass the parent and its controlled subsidiaries; they are distinct from Siemens AG’s individual accounts and those of a national subsidiary. FY2025 annual report and consolidated accounts, PDF p. 5; FY2025 annual report and consolidated accounts, PDF p. 47
Corporate boundaries are particularly important here. Siemens Healthineers is within the FY2025 consolidation scope, whereas Siemens Energy is a separate company whose shareholding is reported as a financial investment. A shared history or brand does not justify combining their revenue, workforces or occupational safety results indiscriminately. FY2025 annual report and consolidated accounts, PDF p. 12; FY2025 annual report and consolidated accounts, PDF p. 59
History: from telegraphs to industrial technology
Werner von Siemens and precision mechanic Johann Georg Halske started their telegraph construction business in Berlin in 1847. Subsequent developments included the dynamo, electric railways and SIMATIC automation. The business became a stock corporation in 1897 and began trading on the Berlin stock exchange on 8 March 1899. The Siemens AG name arose from the merger of Siemens & Halske, Siemens-Schuckertwerke and Siemens-Reiniger-Werke in 1966. Siemens historical timeline; 125 years as a listed company
That history also includes responsibility for abuses. The corporate timeline acknowledges the use of forced labour under the Nazi regime and states that at least 80,000 people were forced to work for the company between 1940 and 1945. This record should not be obscured by technical milestones or confused with the company’s present structure. Siemens historical timeline
Digital Industries: automation and software
Digital Industries supplies industrial controls, drives, instrumentation and systems for discrete and process industries. Its software covers design, simulation, product lifecycle management and development automation. Together these connect product design with manufacturing preparation and operation. Customers, systems integrators and machinery builders participate in that commercial chain. FY2025 annual report and consolidated accounts, PDF p. 8; FY2025 annual report and consolidated accounts, PDF p. 9
The report distinguishes cyclical automation demand from software contracts and the transition to subscriptions and cloud services. An order, a multiyear contract and recognised revenue are consequently different measures. Altair and Dotmatics expand simulation and scientific software, but joined the group during FY2025 and did not contribute a full year to consolidated results. FY2025 annual report and consolidated accounts, PDF p. 9; FY2025 annual report and consolidated accounts, PDF p. 52
Smart Infrastructure: buildings, grids and electrification
Smart Infrastructure brings together technologies for buildings, electricity distribution and grids. Its range includes heating and ventilation controls, fire protection, building automation, medium- and low-voltage equipment, electrification and management software. Building X, Gridscale X and Electrification X feature in Siemens’ digital portfolio. Markets include real estate, industry, grid operators and data centres. FY2025 annual report and consolidated accounts, PDF p. 10; FY2025 annual report and consolidated accounts, PDF p. 11
The offering combines products sold through distribution channels with projects, systems installation and subsequent services. Energy efficiency or protection built into a product are business characteristics; they do not replace risk assessment for the people manufacturing, installing or maintaining it. The occupational safety measures in this profile come from the group’s workforce and prevention disclosures. FY2025 annual report and consolidated accounts, PDF p. 10; FY2025 Sustainability Statement, PDF p. 69
Mobility and project financing
Mobility develops rolling stock, signalling, electrification and maintenance services, alongside planning and ticketing applications. Its activity depends on long projects, generally associated with operators and public authorities, and services throughout equipment life. Digital maintenance solutions form part of that continuing relationship after delivery. FY2025 annual report and consolidated accounts, PDF p. 11; FY2025 annual report and consolidated accounts, PDF p. 12
Siemens Financial Services provides leasing, lending, working capital and structured equipment and project financing. It serves Siemens customers and third parties, drawing on industrial expertise and financial analysis. Financial assets must not be added to industrial revenue as though they were additional sales: the consolidated accounts contain the relevant adjustments and eliminations. FY2025 annual report and consolidated accounts, PDF p. 14
Healthineers and Siemens Energy: different situations
At the FY2025 year end, Siemens controlled just under 69% of Siemens Healthineers, which was consolidated and included imaging, laboratory diagnostics and treatment activities. By contrast, the Siemens Energy spin-off was approved in 2020 and the company began trading separately that September. Siemens’ balance sheet at 30 September 2025 reports a 10% financial investment in Siemens Energy, rather than consolidation of its business. FY2025 annual report and consolidated accounts, PDF p. 12; FY2025 annual report and consolidated accounts, PDF p. 59; Siemens historical timeline
The joint announcement dated 5 November 2026 envisages Healthineers becoming independent of Siemens in 2027 and changing its name, subject to decisions at shareholder meetings planned for February 2027 and the relevant registration steps. This is an announced transaction, not a completed separation. Historical figures and measures labelled Siemens excluding Healthineers therefore retain their specific scopes. Planned Healthineers separation and name change; FY2025 Sustainability Statement, PDF p. 17
FY2025 acquisitions and disposals
Siemens acquired all of Altair in March 2025 and all of Insightful Science Holdings, known as Dotmatics, in July 2025. The former strengthens simulation, data analysis and computing; the latter adds scientific research software. The consolidated notes identify acquisition dates and contributions since acquisition, avoiding the treatment of these partial contributions as full-year sales. FY2025 annual report and consolidated accounts, PDF p. 52
Conversely, the Innomotics sale closed in October 2024, already within FY2025, and was treated as a discontinued operation. Airport logistics activities were also sold during the year. These changes explain why total net income and revenue from continuing operations must be read alongside the notes on changes in consolidation scope. FY2025 annual report and consolidated accounts, PDF p. 53; FY2025 annual report and consolidated accounts, PDF p. 43
Results and audit: interpreting the figures
FY2025 runs from 1 October 2024 to 30 September 2025. The consolidated accounts report revenue of €78,914 million and net income of €10,387 million, including €2,059 million from discontinued operations. Income attributable to Siemens AG shareholders was €9,620 million. Total earnings should not be presented as exclusively recurring industrial profit. FY2025 annual report and consolidated accounts, PDF p. 43; FY2025 annual report and consolidated accounts, PDF p. 47
PwC issued an unmodified audit opinion on the consolidated accounts on 1 December 2025. Sustainability assurance is a separate, limited engagement. At this profile’s review date, the official calendar schedules FY2026 results for 12 November 2026. FY2025 therefore remains the latest complete financial year with published results; the 2026 quarterly figures have not been annualised. FY2025 annual report and consolidated accounts, PDF p. 104; FY2025 annual report and consolidated accounts, PDF p. 109; FY2025 Sustainability Statement, PDF p. 114; FY2025 Sustainability Statement, PDF p. 116; FY2026 results calendar
Markets and geographical distribution
The report allocates revenue by customer location, not the nationality of the company manufacturing or invoicing the product. In FY2025 the United States accounted for €22,097 million, Germany €11,646 million and China €7,143 million. This shows the importance of several markets without treating a commercial table as a description of local production. FY2025 annual report and consolidated accounts, PDF p. 16
The organisation combines global businesses with regional operations, distribution channels, partners and services. Investment cycles also differ: industrial automation, data centres, railways and medical equipment reflect different decisions and time frames. Geographical exposure should be interpreted alongside this business mix, rather than as one uniform manufacturing chain. FY2025 annual report and consolidated accounts, PDF p. 5; FY2025 annual report and consolidated accounts, PDF p. 8; FY2025 annual report and consolidated accounts, PDF p. 10; FY2025 annual report and consolidated accounts, PDF p. 12
Research and development
Research and development expense was €6,559 million in FY2025. The report describes foundational technologies shared across businesses, industrial artificial intelligence, digital twins, automation and cybersecurity. Accounting R&D expense differs from a business acquisition or investment in facilities; those measures should not be combined under a single innovation label. FY2025 annual report and consolidated accounts, PDF p. 43; FY2025 annual report and consolidated accounts, PDF p. 17
A specific workplace application of digital tools is the AI-assisted ergonomic assessment described in the Sustainability Statement. However, having simulation software or a prevention tool does not itself demonstrate fewer accidents. Evidence about use, the population covered and outcomes must be examined separately. FY2025 Sustainability Statement, PDF p. 72
Governance and management
The management page available at review identifies Roland Busch as President and Chief Executive Officer and Veronika Bienert as Chief Financial Officer. Cedrik Neike, Judith Wiese and Peter Koerte complete the Managing Board. The page distinguishes this body from the management of Digital Industries, Smart Infrastructure, Mobility, Healthineers and the group’s services. Current group management
The succession plan announced in February 2026 placed the finance leadership change on 1 April and the Smart Infrastructure change on 1 July. These dates prevent automatic reuse of the names in office at the FY2025 year end. Corporate EHS management sets prevention strategy, while country and business leadership are responsible for implementation. Managing Board succession; FY2025 Sustainability Statement, PDF p. 69
People, learning and representation
The Sustainability Statement reports 317,562 employees at 30 September 2025 as headcount, not full-time equivalents. Its definition excludes apprentices, students, interns and certain dormant employment relationships. Germany, the United States and India are among the largest national populations in the table. This count should not be confused with operational workforce definitions used for occupational safety. FY2025 Sustainability Statement, PDF p. 66; FY2025 Sustainability Statement, PDF p. 69
Reported global collective bargaining coverage was 55%, subject to the conditions and technical exclusions detailed in the report. The company also reports 34.7 average learning hours, covering general learning rather than prevention alone. Specific programmes must be examined to assess participation or safety training; all those hours cannot be attributed to occupational safety. FY2025 Sustainability Statement, PDF p. 67; FY2025 Sustainability Statement, PDF p. 68
How occupational health and safety is organised
EHS strategy is coordinated globally and implemented through country, business and site responsibilities. Siemens describes quarterly exchanges among specialists, risk assessments, inspections, emergency planning and annual internal review. The Safety Reporting System enables incident reporting, with EHS officers involved in analysis and follow-up. These are specific management mechanisms, rather than a guarantee that harm will not occur. FY2025 Sustainability Statement, PDF p. 69; FY2025 Sustainability Statement, PDF p. 70; FY2025 Sustainability Statement, PDF p. 71
In FY2025, 97% of the own workforce was covered by an occupational health and safety management system under the reported metric. That percentage does not measure ISO 45001 certification. The report states that relevant operating units hold certifications according to market requirements, but this profile has not obtained a single current certificate that would establish certification across the entire group. FY2025 Sustainability Statement, PDF p. 71; FY2025 Sustainability Statement, PDF p. 72
Ergonomics and training for digital work
Siemens describes a global framework contract for an AI-assisted ergonomic assessment tool. It uses movement sequences and methods such as RULA and REBA to support EHS officers and ergonomics specialists. Its documented purpose is to assist analysis of work; it is not presented as a medical diagnosis or a replacement for professional judgement. FY2025 Sustainability Statement, PDF p. 72
The Digital Safety Transformation Series targets EHS staff and includes a Safety Innovation Badge. Leading Safe and Healthy Work in the Digital Age is a leadership programme explicitly identified with Siemens excluding Healthineers. The source describes training and available tools, but does not establish universal participation or a causal reduction in injuries attributable to these measures. FY2025 Sustainability Statement, PDF p. 72
Mental health, assistance and safety cultures
Healthy and Safe @ Siemens, or HS@S, guides Siemens excluding Healthineers through FY2030 towards well-being, psychological safety, learning and resilience. Healthineers uses its own safety and health culture assessments. The statement also describes integrated psychosocial risk management and the extension of participatory assessments of work-related stress at Healthineers beyond Germany. FY2025 Sustainability Statement, PDF p. 71; FY2025 Sustainability Statement, PDF p. 72
Employee assistance programmes offer confidential short-term counselling and referral to specialists through internal services or national contracts. Siemens reports 100% access within its scope excluding Healthineers, with reporting exceptions for small countries or entities with fewer than 30 employees under its methodology. Access does not mean use, clinical recovery or removal of psychosocial risk. FY2025 Sustainability Statement, PDF p. 70; FY2025 Sustainability Statement, PDF p. 71
Accidents and fatalities: indicators with different scopes
The FY2025 LTIFR was 0.22 lost-time accidents per 200,000 hours worked for Siemens excluding Healthineers. It includes employees and temporary agency workers under Siemens’ control and covers cases with at least one lost working day. Its scope is not the same as every metric in the group’s ESRS table. FY2025 Sustainability Statement, PDF p. 71
The occupational safety table records 1,180 recordable work-related accidents, excluding commuting accidents, and ten employee fatalities: two due to occupational injuries and eight due to work-related ill health. It reports zero fatalities among other workers defined as contractors on its sites. These results do not justify describing the group as free of fatal accidents or comparing rates with different populations or denominators. FY2025 Sustainability Statement, PDF p. 72
Suppliers and value chain workers
Supply chain risk assessment considers construction workers and mineral supply chains, among others. The supplier code requires commitments on working conditions and safety, and requires direct suppliers to make reasonable efforts to extend its principles to their own suppliers. Assessment is based on risk and does not amount to comprehensive inspection of every level of the chain. FY2025 Sustainability Statement, PDF p. 73; FY2025 Sustainability Statement, PDF p. 74
Siemens combines self-assessments with external sustainability audits, worker interviews and corrective action plans. Plans may lead to follow-up and further audits; the company states a preference for improvement before terminating commercial relationships. In May and June 2025 it launched a second wave of supplier sustainability training. These are due diligence activities, rather than proof that no violations exist. FY2025 Sustainability Statement, PDF p. 73; FY2025 Sustainability Statement, PDF p. 74
Restructuring and the workforce response
In March 2025 Siemens announced plans to adjust approximately 5,600 automation positions worldwide, including around 2,600 in Germany, by the end of FY2027. It linked the plan to production capacity and market changes and stated that it would avoid compulsory redundancies for operational reasons in Germany through alternatives such as redeployment and training. Announced positions are not a count of people who have already left. Automation and electric vehicle charging restructuring
In July 2025 dpa-AFX reported an agreement reconciling interests with workforce representatives and a €50 million transformation fund. In March 2026 IG Metall reported that the fund had started operating for five years, with joint applications by management and representatives and decisions by a parity committee. This follow-up documents a negotiated mechanism, without itself showing that everyone affected has been redeployed. dpa-AFX: workforce agreement and transformation fund; IG Metall: transformation fund launch
Integrity and the compliance record
In December 2008 Siemens AG pleaded guilty in the United States to violations of the FCPA’s internal controls and books and records provisions. The parent and three subsidiaries agreed to combined criminal fines of $450 million; the $350 million SEC disgorgement settlement was separate. The Department of Justice acknowledged cooperation and reforms and required an independent monitor for four years. This is a dated, resolved case, not a current allegation. US Department of Justice: 2008 resolution
The FY2025 statement describes a compliance system based on preventing, detecting and responding, covering anti-corruption, competition, money laundering, privacy, human rights and export controls. It distinguishes policies for Siemens excluding Healthineers from Healthineers directives. The existence of these structures is governance information; it does not erase the historical record or guarantee that new violations cannot occur. FY2025 Sustainability Statement, PDF p. 82
Frequently asked questions
Are Siemens and Siemens Energy the same company?
No. Siemens Energy was spun off and began trading separately in 2020. In FY2025 Siemens AG reported its 10% interest as a financial investment and did not add Siemens Energy’s sales to consolidated revenue. This profile covers Siemens AG and its consolidated group. Siemens historical timeline; FY2025 annual report and consolidated accounts, PDF p. 59
Is Healthineers still included in Siemens’ figures?
Yes, it is consolidated in the FY2025 figures used here. The announcement dated 5 November 2026 envisages a separation in 2027, subject to shareholder meetings and subsequent steps. Several prevention programmes and indicators explicitly exclude Healthineers even though its activities form part of those accounts. FY2025 annual report and consolidated accounts, PDF p. 12; Planned Healthineers separation and name change; FY2025 Sustainability Statement, PDF p. 71
Why are FY2025 accounts used?
They are the latest published accounts covering a complete financial year at the review date. They run from 1 October 2024 to 30 September 2025 and carry an unmodified PwC opinion. The official FY2026 results presentation is scheduled for 12 November 2026. FY2025 annual report and consolidated accounts, PDF p. 47; FY2025 annual report and consolidated accounts, PDF p. 104; FY2025 annual report and consolidated accounts, PDF p. 109; FY2026 results calendar
What are the main businesses?
Industrial automation and software, building and electricity grid technologies, railway mobility and medical technology through Healthineers. Siemens Financial Services adds financing for group customers and third parties. Services and software are part of the model alongside equipment and projects. FY2025 annual report and consolidated accounts, PDF p. 8; FY2025 annual report and consolidated accounts, PDF p. 10; FY2025 annual report and consolidated accounts, PDF p. 11; FY2025 annual report and consolidated accounts, PDF p. 12; FY2025 annual report and consolidated accounts, PDF p. 14
Which specific workplace safety actions are documented?
The Safety Reporting System for incidents, AI-assisted ergonomic assessments, digital training for EHS staff and leaders, psychosocial risk management and employee assistance. Each action has its own scope: leadership training and HS@S are identified with Siemens excluding Healthineers. The source does not establish clinical effectiveness or universal participation. FY2025 Sustainability Statement, PDF p. 70; FY2025 Sustainability Statement, PDF p. 71; FY2025 Sustainability Statement, PDF p. 72
How should the LTIFR and fatalities be interpreted?
The LTIFR of 0.22 per 200,000 hours excludes Healthineers and includes employees and agency workers under control. The broader table reports 1,180 recordable accidents and ten employee fatalities, two from injuries and eight from work-related ill health. Their scopes and definitions differ and must not be combined. FY2025 Sustainability Statement, PDF p. 71; FY2025 Sustainability Statement, PDF p. 72
