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General Meeting 20 June 2017 Rosa Garca, Chairwoman Carlos - PowerPoint PPT Presentation

2017 Annual General Meeting 20 June 2017 Rosa Garca, Chairwoman Carlos Rodrguez-Quiroga, Secretary of the Board of Directors Rosa Garca, Chairwoman 2017 Annual General Meeting 20 June 2017 6 Gamesa - Siemens Wind Power merger


  1. 2017 Annual General Meeting 20 June 2017

  2. Rosa García, Chairwoman

  3. Carlos Rodríguez-Quiroga, Secretary of the Board of Directors

  4. Rosa García, Chairwoman

  5. 2017 Annual General Meeting 20 June 2017

  6. 6 Gamesa - Siemens Wind Power merger milestones June October December March April June 2016 2016 2016 2017 2017 2017

  7. 7 Speech by Rosa García, Chairwoman of the Board of Directors 1.Creation of Siemens Gamesa and opportunities generated by the merger. 2.Corporate governance pledge. 3.Our objectives and aspirations.

  8. Creation of Siemens Gamesa and opportunities generated by the merger

  9. 9 Creation of Siemens Gamesa and opportunities generated by the merger Economic environment: growth prospects 2016 2017 2018 Global economic growth 3.1 3.5 3.6 Advanced economies 1.7 2.0 2.0 US 1.6 2.3 2.5 Eurozone 1.7 1.7 1.6 Spain 3.2 2.6 2.1 Emerging economies 4.1 4.5 4.8 China, India & ASIAN* 6.4 6.4 6.4 Latam and Caribbean -1.0 1.1 2.0 M. East, N. Africa, Afghan. and Pakistan 3.9 2.6 3.4 Sub-Saharan Africa 1.4 2.6 3.5 Source: IMF Figures in % *Philippines, Indonesia, Malaysia, Thailand and Vietnam

  10. 10 Creation of Siemens Gamesa and opportunities generated by the merger Social climate marked by volatility, uncertainty, complexity and ambiguity Uneven Polarisation Disruptive Growing concern over distribution of technology climate change and wealth the environment

  11. 11 Creation of Siemens Gamesa and opportunities generated by the merger Shift in energy model: Renewables are garnering a growing share of the energy mix RENEWABLE SOURCES AS A PERCENTAGE OF ALL ENERGY CONSUMED: ESTIMATES AND PROJECTIONS Projection 1995 2015 2030 15% 21% 36% 64 % 85 % 79.1 % Fossil fuels and nuclear power Renewable sources

  12. 12 Creation of Siemens Gamesa and opportunities generated by the merger Shift in energy model: weight of renewables in the power generation mix TREND IN POWER TREND IN POWER GENERATION MIX IN SPAIN GENERATION MIX WORLDWIDE 58.9 % 75.7 % 41.1 % 24.3 % 31.9 % 21.2 % 68.1 % 78.8 % Source: REE Renewable sources Fossil fuels and nuclear power

  13. 13 Creation of Siemens Gamesa and opportunities generated by the merger Shift in energy model: global backing for renewables Paris Agreement (COP 21) 195 countries presented voluntary emission- cutting targets Around 100 countries proposed increasing the contribution of renewable sources in their energy mixes, specifically referring to wind power Marrakech Action Proclamation (COP 22) New commitments to underpin Paris Agreement Commitments to invest in clean technologies

  14. 14 Creation of Siemens Gamesa and opportunities generated by the merger Energy arena: shift towards new model TREND IN RENEWABLE CAPACITY VS. FOSSIL FUEL CAPACITY Renewable sources Fossil fuels and nuclear power Source: IRENA

  15. 15 Creation of Siemens Gamesa and opportunities generated by the merger Shift in energy mix: wind, the standard bearer for the transition GLOBAL INSTALLED WIND POWER CAPACITY Source: GWEC

  16. Creation of Siemens Gamesa and opportunities generated by the merger 16 Siemens Gamesa Renewable Energy: key metrics € 10 billion 75 GW 27,000 installed base employees annual revenue € 20 billion € 1.1 billion +90 orderbook adjusted EBIT countries with our WTGs

  17. Creation of Siemens Gamesa and opportunities generated by the merger Siemens Gamesa: solid shareholder base SIEMENS IBERDROLA Europe's largest industrial Europe's largest energy company player by market cap Siemens Gamesa will be Global leader in the 8% its platform in the wind renewable energy field 33% industry 59% Long-standing Gamesa Financial support for the shareholder combined company's Iberdrola offshore business Free float Siemens AG Top customer for Gamesa Strategic parts supplier and Siemens Wind Power

  18. Creation of Siemens Gamesa and opportunities generated by the merger 18 Siemens Gamesa: committed to our roots Denmark Germany Basque region Navarre

  19. Corporate governance pledge

  20. Corporate governance pledge 20 Board of Directors: Separation of duties Men Women Proprietary Independent Executive 7 6 6 5 2 Proprietary Independent Andoni Cendoya Lisa Davis Carlos Rodríguez-Quiroga Rosa María García Klaus Rosenfeld Mariel von Schumann Chairwoman Secretary and Board Member Gloria Hernández Dr. Ralf Thomas Swantje Conrad Michael Sen Luis Javier Cortés Sonsoles Rubio Markus Tacke Chief Executive Officer

  21. Our objectives and aspirations

  22. 22 Our objectives and aspirations - Progress on the integration process - Reinforcement of the corporate culture - Presentation of the new business plan - Creation of sustainable value

  23. Our objectives and aspirations Value creation for all our stakeholders Shareholders Employees Customers Suppliers Society

  24. Markus Tacke, CEO

  25. 2017 Annual General Meeting 20 June 2017

  26. Commitment to high standards of corporate governance Clear goals and ambitious targets High performance culture Accountability and transparency

  27. Our strengths

  28. Our strengths Strong performance in fiscal year 2016 +32% +48% +21% 4,687 € 477m € 4.6bn MW 3,883 € 3.5bn MW € 323m 10.4% 9.2% 2015 2016 2015 2016 2015 2016 Order intake Revenue EBIT and EBIT margin

  29. Our strengths Facts & figures € 10 billion 75 GW 27,000 installed base employees annual revenue € 20 billion € 1.1 billion +90 orderbook adjusted EBIT countries with our WTGs

  30. Our goals Our goals

  31. Our Goals Strategic value creation for shareholders Ensuring a quick Winning new and smooth integration business Business continuity

  32. Our Goals Business continuity Deliver customer projects and products on time and at the highest quality level Combine and intensify sales efforts Provide excellent service and maintenance Continued focus on R&D

  33. Our Goals A quick and smooth integration Integration on track and on schedule Clear roadmap and milestones established Senior leadership in place, integration workstreams are staffed Focus on: Business integration, capturing synergies, setting up organization, processes and systems Creating a joint corporate culture

  34. Our Goals Winning new business is crucial Lowering LCoE through continuous improvement of processes and offerings Focus on Creating sustainable customer value Delivering world class products & services Strong technological capabilities Based on Rigorous financial discipline three pillars Balance sheet and cost control

  35. Our Goals Our industry is experiencing “ disruptive ” changes Digitalization LCoE Decarbonization Politics Technology Globalization

  36. Quorum

  37. Notary public

  38. Grant of the floor

  39. Resolution votes

  40. 2017 Annual General Meeting 20 June 2017

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