Earnings Release: Topline Growth, Record Sectors Profit - Orders grow in all three Sectors and all three regions - Total Sectors profit climbs 40%
Munich, Germany, 2010-Jul-29
"Siemens gained further momentum in the third quarter," said Siemens CEO Peter Löscher. "Such order growth last occurred in 2008. Strong demand took our order backlog to a record level. At the same time, Sectors profit reached its highest point ever, and will clearly exceed the level of the prior year."
Peter Löscher, President and Chief Executive Officer of Siemens AG
Financial Highlights:
- For the first time in more than a year, both revenue and orders increased year-over-year. Revenue also increased sequentially for the second quarter in a row.
- Orders of $20.871 billion were up 22% compared to the prior-year quarter (16% organically), including order growth in all three Sectors and all three reporting regions. The combined order backlog for the Sectors hit a new high of $89 billion.
- Revenue of $19.170 billion was 4% higher (level organically), despite substantial order declines throughout the prior fiscal year.
- Total Sectors profit for the quarter rose 40% year-over-year, to a record high $2.331 billion.
- Income from continuing operations was $1.441 billion (basic EPS $1.63), up 18% from the third quarter a year earlier, and net income of $1.435 billion (basic EPS $1.62) was 9% higher.
- Free cash flow from continuing operations improved substantially, to $2.145 billion from $1.064 billion in the third quarter a year ago.
Please read the complete Earnings Release in the attached PDF:
Earnings Release
