Peter Löscher, President and Chief Executive Officer of Siemens AG
- Orders for the second quarter rose 20% year-overyear, to €21.451 billion, due primarily to large orders. The book-to-bill ratio was 1.19, and Siemens' order backlog increased to €101 billion at the end of the quarter.
- Revenue for the second quarter was €18.011 billion, 7% below the prior-year level.
- Total Sectors Profit declined to €1.374 billion due primarily to lower profit in Industry and Infrastructure & Cities.
- Income from continuing operations increased slightly to €982 million. For comparison, the prior-year period included an equity investment loss of €640 million related to NSN.
- Net income improved to €1.030 billion, including a positive contribution from discontinued operations. Corresponding basic EPS was €1.20, up from €1.03 in the prior-year period, benefiting from share buybacks between the periods under review.
- Free cash flow from continuing operations improved to €1.375 billion from €532 million in the second quarter a year ago.
* At the end of the second quarter Siemens' solar business no longer fulfilled the conditions to be classified as discontinued operations according to IFRS. It was therefore reclassified to continuing operations and its results are reported within the Energy Sector. Results for prior periods are presented on a comparable basis. Siemens still intends to exit the solar business.
Please read the complete Earnings Release in the attached PDF: