News Column

Siemens - Earnings Release Q1 FY 2014: A Sound Start to Fiscal 2014

January 29, 2014

ENP Newswire - 29 January 2014 Release date- 28012014 - Munich - Siemens delivered solid results in the first quarter, even though strong currency effects held back volume and income development. Orders for the first quarter rose 9% year-over-year, to EUR20.836 billion , while revenue came in 3% lower, at EUR17.325 billion . On an organic basis, excluding currency translation and portfolio effects, orders were up 12% and revenue was just 1% below the prior-period level. Total Sectors profit rose 15%, to EUR1.789 billion , highlighted by a strong performance in Infrastructure & Cities, and income from continuing operations climbed 21%. Net income and basic earnings per share (EPS) for the first quarter rose 20% year-over-year, to EUR1.457 billion and EUR1.70 , respectively. 'We delivered a sound quarter to start our fiscal year. As expected, market conditions were not in our favor. We continue to focus on our productivity program for the year, and on the actions we will take beyond 2014.' Joe Kaeser , President and Chief Executive Officer of Siemens AG Please read the complete Earnings Release in the attached PDF: http://www.siemens.com/press/pool/de/events/2014/corporate/2014-q1/2014-q1-earnings-release-e.pdf All figures are preliminary and unaudited. Financial Publications are available for download at: www.siemens.com/ir -> Publications & Calendar. This document includes supplemental financial measures that are or may be non-GAAP financial measures. Orders and order backlog; adjusted or organic growth rates of revenue and orders; book-to-bill ratio; Total Sectors profit; return on equity (after tax), or ROE (after tax); return on capital employed (adjusted), or ROCE (adjusted); Free cash flow, or FCF; adjusted EBITDA; adjusted EBIT; adjusted EBITDA margins, earnings effects from purchase price allocation, or PPA effects; net debt and adjusted industrial net debt are or may be such non-GAAP financial measures. These supplemental financial measures should not be viewed in isolation as alternatives to measures of Siemens' financial condition, results of operations or cash flows as presented in accordance with IFRS in its Consolidated Financial Statements. Other companies that report or describe similarly titled financial measures may calculate them differently. Definitions of these supplemental financial measures, a discussion of the most directly comparable IFRS financial measures, information regarding the usefulness of Siemens' supplemental financial measures, the limitations associated with these measures and reconciliations to the most comparable IFRS financial measures are available on Siemens' Investor Relations website at www.siemens.com/nonGAAP . For additional information, see supplemental financial measures and the related discussion in Siemens' most recent annual report on Form 20-F, which can be found on our Investor Relations website or via the EDGAR system on the website of the United States Securities and Exchange Commission . This document contains statements related to our future business and financial performance and future events or developments involving Siemens that may constitute forward-looking statements. These statements may be identified by words such as 'expects,' 'looks forward to,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' 'will,' 'project' or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens' management, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond Siemens' control, affect Siemens' operations, performance, business strategy and results and could cause the actual results, performance or achievements of Siemens to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or anticipated on the basis of historical trends. These factors include in particular, but are not limited to, the matters described in Item 3: Key information - Risk factors of our most recent annual report on Form 20-F filed with the SEC , in the chapter 'Risks' of our most recent annual report prepared in accordance with the German Commercial Code, and in the chapter 'Report on risks and opportunities' of our most recent interim report. Further information about risks and uncertainties affecting Siemens is included throughout our most recent annual and interim reports, as well as our most recent earnings release, which are available on the Siemens website, www.siemens.com , and throughout our most recent annual report on Form 20-F and in our other filings with the SEC , which are available on the Siemens website, www.siemens.com , and on the SEC's website, www.sec.gov . Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of Siemens may vary materially from those described in the relevant forward-looking statement as being expected, anticipated, intended, planned, believed, sought, estimated or projected. Siemens neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. Mr. Alexander Becker Siemens AG 80333 Munich Germany Tel: +49 (89) 636-36558 becker.alexander?@siemens.com


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Source: ENP Newswire


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