# Who does Siemens AG pay? Who are its key suppliers?
Canonical: https://valuechain.wiki/siemens-ag · Facet: suppliers · Updated: 2026-09-24T05:25:42.869056+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Siemens AG discloses no named confirmed suppliers/cost counterparties; 2 relationships are tracked as undisclosed/aggregate. Per the valuechain.wiki graph: 2 cost edges, backed by 1 dated sources, 1 of them primary filings (as of 2026-09-24).

### Siemens EDA (반도체 설계 SW 자회사) (high)  → /siemens-eda.md
- metric: ownership 100%
- note: The electronic design automation (EDA) subsidiary secured via the 2017 Mentor Graphics acquisition and a core of Digital Industries Software — one of the EDA big three behind Cadence and Synopsys. For Siemens it is a high-margin, structurally growing software holding decoupled from the automation-hardware cycle, and with Altair and Dotmatics it widens industrial-software/AI leadership.
- [confirms] Siemens AG (EN, filing, published 2025-11-13) https://assets.new.siemens.com/siemens/assets/api/uuid:7fdd21fb-c248-43a3-b475-f2e618fbae88/2025-q4-earnings-release-en.pdf: "Digital Industries order growth was led by the electronic design automation and product lifecycle (PLM) software businesses."

### Siemens Healthineers (약 69%, 탈연결 예정) (high)
- metric: ownership 69%
- note: Siemens consolidated its medical-imaging/diagnostics subsidiary Healthineers at ~69% at FY2025-end (revenue €23.4bn), but in November 2025 announced it will spin off 30% to shareholders to deconsolidate and, over the medium term, cut the holding to a minority/financial asset — after Energy, the final act of a portfolio simplification concentrating on the industrial core (automation, infrastructure, mobility).
- [confirms] Siemens AG (EN, filing, published 2025-11-13) https://assets.new.siemens.com/siemens/assets/api/uuid:7fdd21fb-c248-43a3-b475-f2e618fbae88/2025-q4-earnings-release-en.pdf: "Siemens Healthineers FY2025 revenue €23,375m; planned deconsolidation announced."
- [confirms] Siemens AG (EN, news, published 2025-11-12) https://press.siemens.com/global/en/pressrelease/siemens-plans-deconsolidate-siemens-healthineers: "Siemens plans to deconsolidate Siemens Healthineers by spinning off 30% to shareholders and reducing to a minority over the medium term."

### Siemens Energy (잔여 지분 ~10%) (high)  → /siemens-energy.md
- metric: ownership 10%
- note: A financial-asset stake of ~10% in Siemens Energy (spun off in 2020; further tranches transferred to Siemens' pension trust) — as Energy's stock soared on grid and AI power demand, the residual stake is worth ~€25bn. Siemens is gradually monetizing it to redeploy capital into the core and shareholder returns, a symbol of portfolio simplification.
- [confirms] Siemens AG (EN, filing, published 2025-12-04) https://www.siemens.com/applications/b09c49eb-3a14-73b3-9f71-e30e3c2dfdbd/assets/pdfs/en/Siemens_Report_FY2025.pdf: "Siemens holds a residual stake in Siemens Energy AG, treated as a financial investment, with further shares transferred to the pension trust."

### 전력기기 소재 (구리·전기강판·절연·부품) (mid)
- note: The cost of transformers, switchgear and distribution boards sits in copper, electrical steel (grain-oriented silicon steel), insulation and castings — in a data-center-driven demand surge, the supply and price of these materials govern Smart Infrastructure's margin and lead times, and grain-oriented electrical steel is globally tight.
- [mentions] Siemens AG (EN, filing, published 2025-11-13) https://assets.new.siemens.com/siemens/assets/api/uuid:7fdd21fb-c248-43a3-b475-f2e618fbae88/2025-q4-earnings-release-en.pdf: "Smart Infrastructure profitability improved on higher revenue and capacity utilization amid strong grid/data-center demand."

### 자동화 전자부품·반도체 (외부 조달) (mid)
- note: Siemens buys the semiconductors and electronic components that go into automation hardware (PLCs, drives, controllers) — it sits upstream of the chip-design ecosystem via its own EDA software yet depends externally on the chips for its own products, so component availability acts directly on Digital Industries' lead times and cost.
- [mentions] Siemens AG (EN, filing, published 2025-11-13) https://assets.new.siemens.com/siemens/assets/api/uuid:7fdd21fb-c248-43a3-b475-f2e618fbae88/2025-q4-earnings-release-en.pdf: "Digital Industries automation revenue and profitability recovered as the destocking cycle eased."

Reverse side: https://valuechain.wiki/siemens-ag/customers.md · Ripple: https://valuechain.wiki/siemens-ag/ripple.md

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Full node: https://valuechain.wiki/siemens-ag.md · JSON: https://valuechain.wiki/siemens-ag.json