Siemens AG — Earnings Release 2001

Nov 14, 2001

News Details

Ad-hoc | 14 November 2001 12:18

Siemens AG english

Siemens in fiscal 2001 Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Siemens in fiscal 2001 – In fiscal 2001 Siemens earned EUR2.088 billion in net income including Infineon, special items as well as restructuring charges and asset write- downs. – EBITA from Operations (excluding Infineon) was EUR1.329 billion including restructuring charges and asset write-downs of EUR1.863 billion. Excluding these charges and write-downs, EBITA from Operations was EUR3.192 billion. – Net cash provided from operating activities for Siemens worldwide was EUR7.016 billion for the year, well above the prior year’s level. – A proposed dividend of EUR1.00 per share is comparable to the prior-year dividend of EUR1.40 on a post-split basis. – Fourth-quarter net income for Siemens worldwide was impacted by special items of negative EUR532 million after taxes. This resulted in net income of negative EUR1.098 billion after taxes, including the special items, Infineon, and restructuring charges and asset write-downs. EBITA from Operations was a negative EUR130 million including restructuring charges and asset write-downs of EUR959 million. Excluding these effects, EBITA from Operations was a positive EUR829 million. Net cash provided from operating activities was up sharply at EUR5.857 billion. end of ad-hoc-announcement (c)DGAP 14.11.2001 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Earnings trends in fiscal 2001 were influenced by a number of special items. Special items after taxes totaled a positive EUR2.003 billion. Special items before taxes were EUR2.880 billion. Special items before taxes include EUR3.459 billion resulting from the transfer of Infineon Technologies AG shares into Siemens’ domestic pension trust. Pretax special items also include the effects of various capital increases at Infineon. Offsetting these non-cash gains are charges including EUR927 million before taxes taken in the fourth quarter as a goodwill write-off relating primarily to the acquisitions of Efficient Networks, Inc. and Milltronics. In addition to these special items, the Operating Groups took charges totaling EUR1.863 billion before taxes relating to previously announced restructurings and for write-downs of inventories, receivables and other assets as well as capacity adjustments. Siemens worldwide sales increased 12% to EUR87.000 billion while orders increased 11% to EUR92.528 billion. For Siemens excluding Infineon, sales increased 15% to EUR82.256 billion in fiscal 2001. Orders increased 17% to EUR88.956 billion. Despite a weakening economic environment during the second half of the fiscal year, a number of Operating Groups delivered strong earnings performance. These include Automation and Drives, Medical Solutions, Power Generation, Osram and Transportation Systems. In contrast, all three Groups in the Information and Communications business segment were adversely affected by rapidly deteriorating business conditions in the sectors they serve. Siemens is confident about its capabilities to successfully execute the various restructuring programs, especially at the I&C Groups, and therefore looks forward to improved earnings from Operations. Before commenting more specifically on the outlook, however, the company will continue to monitor its business performance, particularly the trend in sales and order intake, to better assess the effects of September 11. ——————————————————————————– WKN: 723610; Index: DAX; EURO STOXX 50 Listed: Amtlicher Handel in Berlin, Bremen, Düsseldorf, Frankfurt, Hamburg, Hannover, München, Stuttgart; EUREX; Amsterdam; Brüssel; London; Paris; Zürich; New York 141218 Nov 01