Siemens denies report about Israel boycott clause

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MUNICH (dpa-AFX) – Siemens has denied a report by radio station Südwestrundfunk (SWR) about an Israel boycott clause in a contract with Turkish state railways. The broadcaster reported on Friday that Siemens had sold high-speed trains to Turkey despite an associated commitment to boycott Israel. He said the Islamic Development Bank in Saudi Arabia financed the purchase of state-owned railways and demanded strict compliance with the boycott requirements of the Arab League and the African Union.

A Siemens spokesman said, “Neither Siemens AG nor Siemens Turkey signed a boycott statement in 2018 in connection with the award of high-speed trains.” Only the usual statement about the origin of the installed parts had been made, he said. The group has been active in Israel for about 60 years in various business areas and “has deep roots there.”/rol/DP/zb

dpa-AFX 2023

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SIEMENS AG 0.90% 145.02 Delayed Quotation. 11.86%

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Analyst Recommendations on SIEMENS AG

Sale 2023 75 784 M
82 240 M
82 240 M
Net income 2023 6 391 M
6 936 M
6 936 M
2023 Net Debt 37 522 M
40 719 M
40 719 M
P/E ratio 2023 18,3x
Yield 2023 3.05%
Capitalization 115 B
125 B
125 B
EV / Sales 2023 2.01x
EV / Sales 2024 1,88x
Number of Employees 311 000
Free-Float 88.4%


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Last Price from Close 145,02 €
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