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"The uncertainties of the ongoing debt crisis have left their mark on the real economy. Our revenue increased again, while certain project delays burdened profits. Although a recovery is expected in the second half of the year, we must work hard to achieve our goals. With a backlog of more than 100 billion euros, a strong portfolio and a solid financial position, we are a trusted partner."
"The uncertainties of the ongoing debt crisis have left their mark on the real economy. Our revenue increased again, while certain project delays burdened profits. Although a recovery is expected in the second half of the year, we must work hard to achieve our goals. With a backlog of more than 100 billion euros, a strong portfolio and a solid financial position, we are a trusted partner."
Peter Löscher, President and Chief Executive Officer of Siemens AG
Financial Highlights:
Revenue for the first quarter rose 2%, to €17.902 billion, including increases in all reporting regions and 8% growth in emerging markets. Organic revenue, excluding currency translation and portfolio effects, grew 3%.
Orders came in at €19.809 billion, 5% below the prior-year period which included a significantly higher volume from large orders. The book-to-bill ratio for the quarter was 1.11, and the order backlog reached a new high at €102 billion.
Total Sectors Profit declined 23%, to €1.601 billion, including lower profit in all Sectors.
Income from continuing operations was down 27%, at €1.356 billion and corresponding basic EPS was €1.53. Net income declined 17%, to €1.457 billion and corresponding basic EPS of €1.64.
Please read the complete Earnings Release in the attached PDF: Earnings Release