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Siemens plans Osram IPO - Listing set for fall of 2011 - Siemens to remain long-term anchor shareholder in Osram

For the IPO, Wolfgang Dehen, currently member of Siemens’ Managing Board and CEO of the Energy Sector, has been appointed to head the Osram Executive Board, effective April 1, 2011. Following the transformation of Osram GmbH into a publicly listed company, he will serve as its President and CEO. “Wolfgang Dehen, a highly respected manager, has the experience necessary to prepare Osram’s public listing and establish Osram as an independent, publicly listed company with Siemens as anchor shareholder,” said Peter Löscher. “I’m looking forward to bringing this innovation leader with its globally recognized brand name onto the stock market. Together with Osram’s roughly 40,000 employees worldwide, we want to play a decisive role in shaping the future of the lighting market with green, energy-efficient solutions and products. With Martin Goetzeler, we have a Chief Operating Officer who stands for success and continuity,” said Wolfgang Dehen.
Martin Goetzeler has resigned his position as CEO of the Executive Board of Osram GmbH. He has been appointed Chief Operating Officer of Osram by the Supervisory Board of Osram GmbH, effective April 1, 2011. He will continue to perform this function as a member of the Osram Managing Board after the establishment of Osram AG. Dr. Klaus Patzak, currently Chief Accounting Officer and Controller of Siemens AG, is to be the CFO of Osram GmbH – and after the public listing – the CFO of Osram AG.
Osram is a leader in all relevant stages of the lighting value chain – for conventional as well as new technologies. Generating 20 percent of its total revenue with LED-based products, the company is an innovation leader in the technology transformation now taking place on the lighting market. Green, energy-efficient products already account for 70 percent of Osram revenue.
Analysts estimate the total market for components, luminaires and lighting solutions to be roughly €45 billion; luminaires and lighting systems account for over two-thirds of this market. Driven by semiconductor-based technologies like LEDs (light-emitting diodes) and OLEDs (organic light-emitting diodes), the total market is expected to grow to around €65 billion by 2016. Only last February, Osram announced its plans to further expand by acquiring Siteco, which is active in the market for luminaires and lighting solutions.
General lighting generates the highest revenue of all Osram product areas. The company is No. 1 worldwide in automotive lamps and motor vehicle LEDs. Osram also has a leading position in the market for electronic ballasts for lamps. Osram’s fast-growing opto semiconductor business is of strategic importance. Innovation is also rapid in the area of special display optic lamps. Research and development expenditures total some 5.5 percent of revenue.
Osram, which was first registered in 1906, is today one of the world’s oldest globally recognized brand names. The three companies AEG, Siemens & Halske AG and Deutsche Gasglühlicht AG (Auer Gesellschaft) combined their light bulb production activities on July 1, 1919. Osram GmbH has been a wholly owned subsidiary of Siemens AG since 1978.

For this press release

Wolfgang Dehen

Wolfgang Dehen

Wolfgang Dehen

Klaus Patzak

Klaus Patzak

Klaus Patzak

Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is the world’s largest provider of environmental technologies, generating some €28 billion – more than one-third of its total revenue – from green products and solutions. In fiscal 2010, which ended on September 30, 2010, revenue totaled €76 billion and net income €4.1 billion. At the end of September 2010, Siemens had around 405,000 employees worldwide. Further information is available on the Internet at:

Osram (Munich) belongs to the Industry Sector of Siemens and is one of the two leading light manufacturers in the world. In fiscal 2010, it generated revenue of €4.7 billion. OSRAM is a high-tech company in the lighting sector and 70 percent of its revenue comes from energy-efficient products. The company, which is very much internationally oriented, has around 40,000 employees worldwide, supplying customers in 150 countries worldwide from its 46 production sites in 17 countries (September 30, 2010).

This document constitutes neither an offer to sell nor a solicitation to buy or subscribe for securities. Any such offer would be made solely on the basis of the Securities Prospectus to be published and registered with the German Financial Supervisory Authority (BaFin). The information legally required to be provided to investors is contained only in the Securities Prospectus.

The information contained herein is not for distribution, directly or indirectly, in or into the United States of America (including its territories and possessions of any State of the United States of America or the District of Columbia) and must not be distributed to U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended ("Securities Act")) or publications with a general circulation in the United States of America. This document is not an offer of securities for sale in the United States of America. The securities have not been and will not be registered under the Securities Act and may not be offered or sold in the United States of America absent registration or an exemption from registration under the Securities Act. It is not intended to register any portion of the offering in the United States of America or to conduct a public offering of the securities in the United States of America.

This document is not an offer of securities for sale in the United Kingdom, Canada, Japan or Australia."

This document contains forward-looking statements and information – that is, statements related to future, not past, events. 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. 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. In particular, Siemens is strongly affected by changes in general economic and business conditions as these directly impact its processes, customers and suppliers. This may negatively impact our revenue development and the realization of greater capacity utilization as a result of growth. Yet due to their diversity, not all of Siemens’ businesses are equally affected by changes in economic conditions; considerable differences exist in the timing and magnitude of the effects of such changes. This effect is amplified by the fact that, as a global company, Siemens is active in countries with economies that vary widely in terms of growth rate. Uncertainties arise from, among other things, the risk of customers delaying the conversion of recognized orders into revenue or cancelling recognized orders, of prices declining as a result of continued adverse market conditions by more than is currently anticipated by Siemens’ management or of functional costs increasing in anticipation of growth that is not realized as expected. Other factors that may cause Siemens’ results to deviate from expectations include developments in the financial markets, including fluctuations in interest and exchange rates (in particular in relation to the U.S. dollar), in commodity and equity prices, in debt prices (credit spreads) and in the value of financial assets generally. Any changes in interest rates or other assumptions used in calculating obligations for pension plans and similar commitments may impact Siemens’ defined benefit obligations and the anticipated performance of pension plan assets resulting in unexpected changes in the funded status of Siemens’ pension and other post-employment benefit plans. Any increase in market volatility, further deterioration in the capital markets, decline in the conditions for the credit business, continued uncertainty related to the subprime, financial market and liquidity crises, or fluctuations in the future financial performance of the major industries served by Siemens may have unexpected effects on Siemens’ results. Furthermore, Siemens faces risks and uncertainties in connection with: disposing of business activities, certain strategic reorientation measures; the performance of its equity interests and strategic alliances; the challenge of integrating major acquisitions, implementing joint ventures and other significant portfolio measures; the introduction of competing products or technologies by other companies or market entries by new competitors; changing competitive dynamics (particularly in developing markets); the risk that new products or services will not be accepted by customers targeted by Siemens; changes in business strategy; the outcome of pending investigations, legal proceedings and actions resulting from the findings of, or related to the subject matter of, such investigations; the potential impact of such investigations and proceedings on Siemens’ business, including its relationships with governments and other customers; the potential impact of such matters on Siemens’ financial statements, and various other factors. More detailed information about certain of the risk factors affecting Siemens is contained throughout this report and in Siemens’ other filings with the SEC, which are available on the Siemens website,, and on the SEC’s website, Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the relevant forward-looking statement as expected, anticipated, intended, planned, believed, sought, estimated or projected. Siemens neither intends to, nor assumes any obligation to, update or revise these forward-looking statements in light of developments which differ from those anticipated.
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Constantin Birnstiel

Siemens AG

Wittelsbacherplatz 2
80333 Munich

+49 (89) 636-36669