Reducing Activities: company scaling back some business operations while continuing others

Stay Scaling Back

Siemens Healthineers is a German medical device company. It is the parent company for several medical technology companies and is headquartered in Erlangen, Germany. The company dates its early beginnings in 1847 to a small family business in Berlin, co-founded by Werner von Siemens.

Reducing Activities: company scaling back some business operations while continuing others

Stay Scaling Back
Revenue(RF), mln.USD
180
Assets(RF), mln.USD
112
Capital(RF), mln.USD
30
Glob.Revenue, mln.USD
22831
Staff(RF), 2021
335
Taxes(RF), mln.USD
13

Siemens Healthineers quickly relocated or made redundant its engineers working in Russia. It also stopped exports to Russia. Based on Siemens data, it would take at least nine months to be given the export license by Germany’s BAFA (The Federal Office for Economic Affairs and Export Control). Such a long waiting time precluded commercially successful deals being struck, effectively eliminating Siemens as a competitor on the Russian market.

The Company Statement
June 30, 2023

Continuing to supply medical devices and technology as well as continuing to support healthcare providers. Statement condemning Russian invasion of Ukraine. Relocated or made redundant its engineers working in Russia.

January 22, 2023BP, Siemens and PepsiCo branded ‘hypocrites’ for donating to Ukraine while failing to fully exit Russia
March 07, 2022Medtech industry condemns Russia’s invasion of Ukraine
March 03, 2022Siemens suspends business in Russia, joining a lengthening list
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Company statements and statistical data are collected from open sources and official registers according to the methodology of the KSE Institute.
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