Munich, Germany, 2009-Jul-30

“Our third-quarter results demonstrate that we are fully on track to achieve our targets for fiscal 2009,” commented Siemens CEO Peter Löscher. “We again did particularly well compared with our most important competitors. As expected, the macroeconomic environment clearly left its mark on new business. We had already prepared for that ahead of time. We are also carefully considering the challenges ahead. We will continue the rigorous pursuit of our corporate policy focused on sustainability.” Peter Löscher, President and Chief Executive Officer of Siemens AG

Financial highlights:
Siemens’ strong order backlog softened the impact of the global recession on revenue and profit. Backlog for the Sectors totaled €84.3 billion.
Third-quarter revenue of €18.348 billion was 4% lower than in the prior-year quarter.
Orders of €17.160 billion were well below the prior-year level, due in part to a high basis of comparison that included exceptionally large orders at Mobility. The book-to-bill ratio was 0.94.
Lower revenue held back Total Sectors profit at €1.667 billion, despite a 40% increase in Sector profit in Energy.
Net income was €1.317 billion, an increase from the second quarter but a decline compared to the strong third quarter of fiscal 2008.
Free cash flow declined due in part to substantial outflows related to previously reported project reviews and initiatives to safeguard profitability