Financial highlights:
• Orders of €22.220 billion came in 8% below the record high level of the prior-year quarter. The order backlog included no major cancellations.
• Revenue rose 7% to €19.634 billion, supported by strong order growth in recent years.
• Total Sectors profit climbed 20%, to €2.005 billion, led by broad-based profit growth in Energy.
• Income from continuing operations rose 17%, to €1.260 billion, on higher Total Sectors profit.
• Net income was €1.230 billion in the first quarter.
A year earlier, net income of €6.475 billion for the quarter included approximately €5.4 billion in income from discontinued operations related to
Siemens VDO Automotive.
• Free cash flow was a negative €1.574 billion compared to a negative €217 million in the prior-year period. The current period includes payments totaling
€1.230 billion associated with legal proceedings, SG&A reduction and transformation programs initiated in fiscal 2008.

Peter Löscher, President and Chief Executive Officer of Siemens AG
“Siemens got off to a good start in fiscal 2009, including better order development than most of our competitors in the first quarter,” commented
Siemens CEO Peter Löscher. “Revenue increased strongly, and we have a robust book-to-bill above one.

Total Sectors profit clearly exceeded the prior-year level. Therefore we are sticking to our 2009 targets, even though reaching them has become more ambitious. While we are closely monitoring market conditions on a quarterly basis, we are progressing through the year strong, confident and focused.”

Revenue rises and book-to-bill remains well above 1 First-quarter revenue rose to €19.634 billion, a 7% increase com-
pared to the same period a year
earlier. Revenue growth was sup-
ported strongly by high order
growth in the past two fiscal years.
Orders exceeded revenue, at
€22.220 billion but declined 8%
compared to the record high first
quarter a year earlier. The book-to-
bill ratio for the current period was
1.13.
The net effect of currency transla-
tion was neutral for revenues and
orders. On an organic basis, exclud-
ing currency effects and portfolio
transactions, revenue rose 8% and
orders came in 7% lower compared
to the prior-year quarter.

Revenue increases in
all Sectors and regions
Revenue rose in all three Sectors, led
by double-digit growth throughout
the Energy Sector. The Healthcare
Sector also posted double-digit
growth including new volume from
the acquisition of Dade Behring
Holdings Inc. (Dade Behring) at the
Diagnostics Division.
On a geographic basis, revenue rose
in all three reporting regions of
Siemens, with particular strength in
the Americas and Asia, Australia. The
Fossil Power Generation and Renewable
Energy Divisions led revenue
higher in the Americas, while in
Asia, Australia the largest revenue
increases came at the Power Transmission
and Industrial Solutions
Divisions.

Broad-based order decline takes in
all regions, most Divisions
In an environment of slowing global
growth and a worldwide financial
crisis, weaker demand was noticeable
throughout Siemens’ business.
Orders climbed 3% in Healthcare but
declined in Industry and Energy
where a majority of Divisions had
lower or level orders year-over-year.
All regions posted lower orders.
Within the Asia/Australia region volume
declined significantly in China,
where the Industry Solutions Division
and Power Transmission Division
had large orders in the prioryear
period. Orders came in lower in
the Americas due primarily to the
Renewable Energy and Oil & Gas
Divisions, which benefited from
surging demand in the U.S. a year
earlier. Orders rose 12% in Germany
on the strength of a large order at
the Mobility Division.

Outlook
Achieving previously announced
income targets for fiscal 2009 has
become even more ambitious due to
market conditions. Total Sectors
profit is targeted to reach €8.0 to
€8.5 billion in fiscal 2009, provided
that customers do not materially
slow conversion of booked orders to
revenue and pricing does not further
diminish due to continued adverse
market development. This outlook
excludes impacts from legal and
regulatory matters. As in the past,
Siemens continues to closely monitor
global financial and macroeconomic
developments and their potential
impact on Siemens.