Siemens AG — Earnings Release 2003

Jul 24, 2003

News Details

Ad-hoc | 24 July 2003 08:01

Siemens AG english

Siemens in the third quarter (April 1 to June 30) of fiscal 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– · Net income was EUR 632 million, compared to EUR 725 million in the third quarter a year earlier. ·Group profit from Operations was EUR 1.023 billion, compared to EUR 1.098 billion in the same period a year ago. A majority of Siemens Groups increased their earnings. ·Sales of EUR 17.380 billion and orders of EUR 17.215 billion were down 15% and 10%, respectively, from the third quarter a year earlier. Excluding currency translation and the net effect of acquisitions and disposi-tions, orders were down 1% and sales were down 7%. ·Net cash from operating and investing activities for the first nine months of fiscal 2003 was EUR 527 million. Net cash of EUR 3.206 billion in the same period a year earlier benefited from EUR 945 million in net proceeds from portfolio activities. Net cash in the current nine-month period included an acquisition payment of EUR505 million, approxi-mately EUR850 million of increases in investments and marketable se-curities and supplemental pension contributions totaling EUR442 million in the first quarter. Net cash from operating and investing activities for the third quarter was EUR266 million. “I am satisfied with our third-quarter result,” said Siemens CEO Heinrich v. Pierer. “While the absence of demand growth in key markets, combined with significant currency translation effects, lowered sales and orders year-over- year, the trend is more gradual on a consecutive-quarter basis. It is even more satisfying that most of our Groups were able to move further toward their target earnings ranges for fiscal 2003. I expect a similarly positive performance in the fourth quarter. Clearly the Operation 2003 measures are taking effect, and they are being consistently applied.” end of ad-hoc-announcement (c)DGAP 24.07.2003 ——————————————————————————– WKN: 723610; ISIN: DE0007236101; Index: DAX, EURO STOXX 50 Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard), Hamburg, Hannover, München und Stuttgart; EUREX; Amsterdam; Brüssel; London; Paris; New York; Zürich 240801 Jul 03