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start rebels against coke shot by let's turn to a hot spring coming from a poor family. loves to become president challenges and god knows they're credible story of bobby wind starts december 10th on g.w. . semen stays profitable despite the pandemic. the german industrial giant earns 4000000000 euros after spinning off its energy division. we'll talk to the man in charge about the way ahead and asian markets look for new vaccine doubts while talk . tech stocks rise globally as investors adjust their expectations.

this is deja vu business. i'm stephen beers, the end berlin. welcome to the program. well, siemens has just released its annual figures. the german industrial, i con, outperforming expectations, or net profits of 4200000000 euros. thanks was strong 4th quarter. not having to be, the last quarterly report for c.e.o., joe qasr, which itself is just the latest chapter in the company's long history. that siemens once made everything from light bulbs to medical equipment to nuclear power stations. but as growth and profits fell, the desire for a turnaround grew. and that's what kayser promise when he took the helm in 2013. but since then, siemens focus has narrowed to digital industries. mobility,

smart infrastructure, and global management, consulting. a seaman spun off siemens energy 2 months ago, has the biggest up people in the company's history. the massive power plant division with 80000 employees had formed the core of its business. and it also hived off its health in years medical equipment division with 54000 employees and 2018. but siemens still holds an 85 percent stake in that company. now some analysts accuse kayser being overzealous in his efforts to streamline before the break up. siemens annual revenues came in and around 90000000000 euros. that's now down to 57000000000. and for more on this, i'm joined by the man himself c.e.o. joe kayser with siemens. good to have you on the program. good morning, mr. k.'s or some very positive. some very positive numbers that we've just seen here. do you attribute that to your business model for siemens or the nature of this pandemic and its effect on your industry?

or lack of affect 1st of all it has of what i do have to put the numbers and the, i believe strong performance in fiscal q 4 to a fascinating team. that's a distance what it is because the people have been working really, really hard. and every produced, i believe, number of speech, hard to top revenues are just about the level prepare and then make up profits are up 10 percent on the operating level, 28 percent on the net income. so i think those are numbers. i really can be proud of together with my team. and so i believe the company is very well suited now for the future. because turn from asia no fool times, coming at us with a force in the us that evolution. i think today's a good day for siemens, your industry is unique in that you sort of have business all across the world, basically, while the whole world is being affected by this pandemic. what has that experience taught you about how nations are handling the way they deal with a pandemic?

well, you know, it was a different performances out there in terms of how to handle the performance. i believe that germany has done and the german government has done an outstanding job in containing the 1st wave. now i believe it's really, really important that we do a similar thing and the 2nd wave seems that is going to peace sami's on the way with the vaccine coming up now, which is important because uncertainty is no, not good for economic growth and economic outlook. so i think we have a reason to be positive about the future. we've learned a lot from the pandemic. we need to build a better world post-school, we think 19 feet sustainability to be that that is haitian beat. so silent a league position. so there is a lot of opportunities, but we need to be mindful about the next few months if not quarters to come. it

could be pretty rocky in both health healthcare needs as well as industrial opportunities and growth you. this will be your last quarter. you'll be leaving the, company next year. you're known as a very outspoken c.e.o., sometimes to the chagrin of your investors, are speaking out on issues like climate on issues, even like the more refugee camp. do you think that that is a responsibility of the c.e.o. of siemens to be so outspoken on sometimes geopolitical issues or is that a choice? well, it's, it's, it's not that simple. obviously, i think company leaders have a responsibility old. so for societal matters. this is also about leadership. on the other hand, even c.e.o.'s of big companies like myself, are actually nothing but employees of the shareholders. so it's always

complicated to strike the balance between values on the one hand side and the interest of the company on the other. and that's not always something which is easy to be integrated. sometimes it's competing, sad belief that it's important that the c.e.o.'s themselves make a choice on where they believe it's important to participate in vienna. and i myself was asking that question i thought from, is that really something the stakeholders want me to do? shareholders care about performance, all they care about is the performance of the share, the total shareholder return. but there is another stakeholder group and that's our employees. we have almost 400000 of them. so i bent out of the ask my people and i said, well, you think, do you want me to speak up on refugees on, on social trustees, on, on, on racism and things like that. and the semitism, for example. and so we did

a survey without within our company and 85 percent and 85 percent. if i am please said, no, we wanted to do is we want to know what outdoors things and he wanted to stand up for food in just the so, you know, that's a very important stakeholder group, but still it's a balance to strike. it's not always easy to clear things you feel it's not like you will always be our capital. could you feel like you've always chosen the right direction in maintaining that bought that balance. sometimes you have been punished by investors and had to just sort of college as a given medical i don't remember that i had to apologize to anybody about anything. i think the shareholders want me to perform. that's in a sense of what they want me to do and be a responsible integrator of all stakeholders. and you know it, the old way of, of thinking, you know,

the business of business is business. meaning don't care about anybody. it's just about shareholder value. that's outdated and it should have never been that way. a company which does not serve society should not exist. that's my view. so we have to have a societal value. and if you look at the stakeholders, employees, customers, shareholders, the traditional ones that he said, new constituency, in that's the society. so they have to say they want to, you know, have companies, performances, they in ability, they want the companies to be responsible. they do not want companies to just fire people, because there's a pandemic issue, which is of, you know, of a nature which can be rich, can be defeated. they want leaders to lead, not to trust, you know, close their eyes, closed their ears and say enough and shut up for everything which is not business. so it's a balance to strike. i'm not saying, i always got it right. but there are very few things i think that i have to tell

you. all right, your case or c.e.o. of siemens. thank you very much for joining us. thank you. thank you very much. all right, we go over now to some market news. shares in asia have been falling, giving up some of the recent gains market's booked over the announcement of a covert 19 vaccine developments. and while investors reacted positively to news of a vaccine developed. but germany's biotech and u.s. pharma giant pfizer markets seem concerned now over how will be distributed and whether it will help the economy to come back into such a strong man or recent lock downs have hurt most shares, even as they help some tech companies who services were in demand as people stayed home. all right, let's get more on this from chelsea delaney, our financial correspondent, frankfurt. chelsea. good morning. market seems to have moved away a little bit from the vaccine news or the vaccine excitement. yes,

the vaccine euphoria proved to be pretty short lived. we definitely saw significant gains on monday after pfizer and biotech released these results. but over the past stay in can continue into today. we've definitely seen that last steam in part because it is coming down to reality for investors, even though the news was very positive, the 90 percent efficacy rate is very, very strong. it's much better than a lot of scientists were, were expecting there still are, as you said, significant distribution challenges that it means it's going to take at least several months, possibly longer for this vaccine once it is approved. and that in itself is a bit of a question, how long that will take. it means it will, it will take several months for the vaccine to, to reach enough people to really develop the sort of herd immunity that many people say is only will only lead to the sort of reopening of the economy. that would one

second get us back to the stage of new normality, the chills briefly. we know that another major drug company will do those expected to release its vaccine trial results soon. were investors, expecting their hopes are really high in part because as vaccine is supposed to be some somewhat identical to the pfizer biotech vaccine. it's also based on messenger r.n.a. . so many investors, many scientists are expecting this to be another very, very strong vaccine. what we know so far is that we could see results from this over the coming days or in the next week. so hopefully, very soon we'll see results on this next very promising back seemed candidate or a chance to delay neither force in frankfurt. thank you. all right, and finally over to africa, where plans for

a new highway in kenya's capital have hit a snag all because of a century old fig tree was due to be uprooted. to make way for a support pillar for the chinese, for a chinese funded road. bazza government spokesman announced that following an outcry, the presidential decree had been issued protecting the tree, which is the height of a 4 story building. now the china road and bridge corporation in kenya's high with already have agreed to reroute the road around it. all right, presidential decree for a train up that that's it for me and the business team here in berlin for more on these and other business stories to check out our website, w dot com slash business. also facebook and twitter. i'm stephen beardsley. thanks for watching

things instead of throwing them away with subsidies, instead of trying to remove and sustainable things, what germany's to church should look like winding up instead of lagging my

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