Siemens Energy CEO on Renewables, Cost Cuts, Restructuring

The transcript discusses a company's strategic shift from coal-fired power plants to renewable energy sources. The company aims to stop bidding for new coal projects and focus on renewables and transmission technologies. This transition will be gradual, considering existing commitments and partnerships. Financial implications are still being assessed, but the company does not foresee changes to its current guidance. The impact of the US administration's focus on climate change is also considered, with expectations of continued growth in renewables regardless of political changes.

What is the company's current strategy regarding coal-fired power plants?

• They are increasing their investment in coal.

• They are maintaining their current level of coal investment.

• They are gradually phasing out coal services.

• They are selling off their coal assets.

What is the company's current revenue split between fossil fuels and renewables?

• 70% fossil fuels, 30% renewables

• 50% fossil fuels, 50% renewables

• 30% fossil fuels, 70% renewables

• 60% fossil fuels, 40% renewables

What is the company's approach to the financial impact of their transition?

• They are considering restructuring charges but maintaining current guidance.

• They are immediately changing their financial guidance.

• They are not foreseeing any financial impact.

• They are cutting costs in other areas to fund the transition.

How does the company view the impact of the U.S. administration's climate change agenda?

• They plan to reduce their presence in the U.S. market.

• They are indifferent to the administration's policies.

• They see it as an opportunity for growth in renewables.

• They believe it will negatively impact their business.

What factors are driving the company's confidence in the future of sustainable energy solutions?

• Lack of competition in the market

• Decreasing costs of fossil fuels

• Financial markets and customer demand

• Government subsidies