Siemens AG — Earnings Release 2002

Jan 23, 2002

News Details

Ad-hoc | 23 January 2002 09:34

Siemens AG english

Siemens in the first quarter (October 1 to December 31, 2001) of fiscal 2002 Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Siemens in the first quarter (October 1 to December 31, 2001) of fiscal 2002 * Siemens rebounded strongly compared to the previous quarter, with EUR 538 million in net income, EBITA from Operations was EUR 487 million. * Sales grew 7% and orders grew 12% compared to the first quarter of the prior year (excluding Infineon). * Net cash from operating and investing activities was again positive, following the substantial increase posted in the previous quarter. * Net income includes a net gain of EUR 157 million related to Siemens’ interest in Infineon (net balance from Siemens’ portion of the first-quarter net loss at Infineon and a gain on the sale of Infineon shares during the first quarter of fiscal 2002). For the first quarter of fiscal 2002, Siemens reported net income of EUR 538 million, a sharp turnaround from the net loss of EUR 1.098 billion in the fourth quarter of fiscal 2001. In the comparable quarter of fiscal 2001, net income for Siemens worldwide was EUR 1.000 billion. Sales rose 7% to EUR 20.496 billion and orders climbed 12% to EUR 24.926 billion compared to the first quarter a year ago. Excluding currency effects and the net effect of acquisitions and deconsolidations, sales were level with the prior year and orders rose 6%. Growth trends were sharply differentiated among the Operating Groups. Long-cycle businesses including Transportation Systems (TS), Power Transmission and Distribution (PTD), and Power Generation (PG) accounted for solid gains in sales and strong increases in orders. In contrast, sales and orders declined significantly at Information and Communication Networks (ICN). ICN is rigorously pursuing its restructuring program announced last October; at the same time, it is evaluating whether additional measures are necessary. Siemens is generally satisfied with the results of the first quarter and welcomes the continued success in generating positive cash flow. Of the five Groups with restructuring programs, four are already back in the black or close to it. Overall, this quarter suggests the Operating Groups should be able to move into their respective target corridors for Operation 2003 in the coming quarters. end of ad-hoc-announcement (c)DGAP 23.01.2002 ——————————————————————————– WKN: 723610; ISIN: DE0007236101; 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 230934 Jän 02