UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
July 31, 2013
Commission File Number: 1-15174
Siemens Aktiengesellschaft
(Translation of registrants name into English)
Wittelsbacherplatz 2
80333 Munich
Federal Republic of Germany
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes ¨ No x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes ¨ No x
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ¨ No x
If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-
Investor Relations | ||
Munich, July 31, 2013 |
Ad-hoc Announcement
according to § 15 WpHG (Securities Trading Act)
Joe Kaeser new President and Chief Executive Officer of Siemens AG
Joe Kaeser, Chief Financial Officer (CFO) of Siemens AG since 2006, is designated as the new President and Chief Executive Officer of Siemens AG, effective August 1st, 2013.
The current CEO Peter Löscher resigns and leaves the Board of Siemens AG by mutual agreement. The Supervisory Board of Siemens AG has taken the decision unanimously to appoint Joe Kaeser as new CEO and has accepted the decision of Peter Löscher to resign and leave the Board. A new CFO will be appointed in due course.
Siemens will publish its figures for the third quarter of fiscal 2013 today at around 12:00 and not as originally planned on August 1st of 2013.
1 / 1
Siemens AG | Mariel von Drathen | |
CF IR | Wittelsbacherplatz 2 | |
Investor Relations | D-80333 Munich | |
D-80312 Munich | Phone: +49-89 636 32474; Fax: -32830 | |
E-Mail: investorrelations@siemens.com |
Key figures | ||
Earnings Release Consolidated Financial Statements (preliminary and unaudited) |
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KEY FIGURES Q3 AND FIRST NINE MONTHS OF FISCAL 20131, 2
preliminary and unaudited; in millions of , except where otherwise stated
% Change |
1st nine months |
% Change | ||||||||||||||||||||||||||||||||
VOLUME | Q3 2013 | Q3 2012 | Actual | Adjusted3 | 2013 | 2012 | Actual | Adjusted3 | ||||||||||||||||||||||||||
Continuing operations | ||||||||||||||||||||||||||||||||||
Orders | 21,141 | 17,770 | 19 | % | 21 | % | 61,984 | 55,458 | 12 | % | 12 | % | ||||||||||||||||||||||
Revenue | 19,248 | 19,542 | (2 | )% | (1 | )% | 55,404 | 56,741 | (2 | )% | (3 | )% | ||||||||||||||||||||||
1st nine months |
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EARNINGS | Q3 2013 | Q3 2012 | % Change |
2013 | 2012 | % Change | ||||||||||||||||||||||||||||
Total Sectors | ||||||||||||||||||||||||||||||||||
Adjusted EBITDA | 1,823 | 2,299 | (21)% | 5,855 | 6,735 | (13)% | ||||||||||||||||||||||||||||
Total Sectors profit | 1,261 | 1,817 | (31)% | 4,175 | 5,347 | (22)% | ||||||||||||||||||||||||||||
in % of revenue (Total Sectors) |
6.5 | % | 9.2 | % | 7.5 | % | 9.3 | % | ||||||||||||||||||||||||||
Continuing operations | ||||||||||||||||||||||||||||||||||
Adjusted EBITDA | 1,831 | 2,343 | (22)% | 6,044 | 7,085 | (15)% | ||||||||||||||||||||||||||||
Income from continuing operations |
1,004 | 1,152 | (13)% | 3,131 | 3,417 | (8)% | ||||||||||||||||||||||||||||
Basic earnings per share (in )4 |
1.16 | 1.28 | (9)% | 3.64 | 3.81 | (4)% | ||||||||||||||||||||||||||||
Continuing and discontinued operations |
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Net income | 1,098 | 770 | 43% | 3,341 | 3,092 | 8% | ||||||||||||||||||||||||||||
Basic earnings per share (in )4 |
1.27 | 0.85 | 50% | 3.88 | 3.43 | 13% | ||||||||||||||||||||||||||||
CAPITAL EFFICIENCY | Q3 2013 |
Q3 2012 | 1st nine months 2013 |
1st nine months 2012 |
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Continuing operations | ||||||||||||||||||||||||||||||||||
Return on capital employed (ROCE) (adjusted) |
13.1% | 14.5% | 13.5% | 15.3% | ||||||||||||||||||||||||||||||
CASH PERFORMANCE | Q3 2013 | Q3 2012 | 1st nine months 2013 |
1st nine months 2012 |
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Continuing operations | ||||||||||||||||||||||||||||||||||
Free cash flow | 973 | 899 | 915 | 418 | ||||||||||||||||||||||||||||||
Cash conversion rate | 0.97 | 0.78 | 0.29 | 0.12 | ||||||||||||||||||||||||||||||
Continuing and discontinued operations |
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Free cash flow | 1,053 | 967 | 992 | 291 | ||||||||||||||||||||||||||||||
Cash conversion rate | 0.96 | 1.26 | 0.30 | 0.09 | ||||||||||||||||||||||||||||||
LIQUIDITY AND CAPITAL STRUCTURE |
June 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||||
Cash and cash equivalents |
6,071 | 10,891 | ||||||||||||||||||||||||||||||||
Total equity (Shareholders of Siemens AG) |
27,393 | 30,855 | ||||||||||||||||||||||||||||||||
Net debt |
16,219 | 9,292 | ||||||||||||||||||||||||||||||||
Adjusted industrial net debt |
8,911 | 2,271 | ||||||||||||||||||||||||||||||||
June 30, 2013 | September 30, 2012 | |||||||||||||||||||||||||||||||||
EMPLOYEES (IN THOUSANDS) |
Continuing operations |
Total6 |
Continuing operations |
Total6 | ||||||||||||||||||||||||||||||
Employees | 368 | 404 | 370 | 410 | ||||||||||||||||||||||||||||||
Germany | 119 | 129 | 119 | 130 | ||||||||||||||||||||||||||||||
Outside Germany | 249 | 275 | 251 | 280 |
1 | Orders; Adjusted or organic growth rates of revenue and orders; Total Sectors profit; ROCE (adjusted); Free cash flow and cash conversion rate; Adjusted EBITDA; Net debt and adjusted industrial net debt are or may be non-GAAP financial measures. 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 our Investor Relations website under WWW.SIEMENS.COM/NONGAAP |
2 | April 1 June 30, 2013 and October 1, 2012 June 30, 2013. |
3 | Adjusted for portfolio and currency translation effects. |
4 | Basic earnings per share attributable to shareholders of Siemens AG. For fiscal 2013 and 2012 weighted average shares outstanding (basic) (in thousands) for the third quarter amounted to 843,107 and 879,228 and for the first nine months to 844,046 and 877,466 shares, respectively. |
5 | Calculated by dividing adjusted industrial net debt as of June 30, 2013 and 2012 by annualized adjusted EBITDA. |
6 | Continuing and discontinued operations. |
Siemens 2
Orders and Revenue
Siemens 3
Income and Profit
Siemens 4
Cash, Return on Capital Employed (ROCE), Pension Funded Status
Sectors 5
Energy Sector
Sectors 6
Sectors 7
Healthcare Sector
Sectors 8
Industry Sector
Sectors 9
Sectors 10
Infrastructure & Cities Sector
Sectors 11
Equity Investments and Financial Services 12
Equity Investments and Financial Services
Equity Investments turn
positive on NSN effect
Corporate Activities, OSRAM and Outlook 13
Notes and Forward-Looking Statements 14
Notes and Forward-Looking Statements
CONSOLIDATED STATEMENTS OF INCOME (preliminary and unaudited)
For the three and nine months ended June 30, 2013 and 2012
(in millions of , per share amounts in )
Three months ended June 30, |
Nine months ended June 30, |
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2013 | 2012(1) | 2013 | 2012(1) | |||||||||||||
Revenue |
19,248 | 19,542 | 55,404 | 56,741 | ||||||||||||
Cost of goods sold and services rendered |
(14,103 | ) | (14,004 | ) | (39,975 | ) | (40,566 | ) | ||||||||
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Gross profit |
5,145 | 5,539 | 15,430 | 16,174 | ||||||||||||
Research and development expenses |
(1,081 | ) | (1,083 | ) | (3,122 | ) | (3,137 | ) | ||||||||
Marketing, selling and general administrative expenses |
(2,938 | ) | (2,848 | ) | (8,336 | ) | (8,101 | ) | ||||||||
Other operating income |
78 | 98 | 277 | 322 | ||||||||||||
Other operating expense |
(57 | ) | (41 | ) | (250 | ) | (171 | ) | ||||||||
Income (loss) from investments accounted for using the equity method, net |
188 | (26 | ) | 352 | (391 | ) | ||||||||||
Interest income |
251 | 235 | 710 | 704 | ||||||||||||
Interest expense |
(203 | ) | (190 | ) | (578 | ) | (576 | ) | ||||||||
Other financial income (expense), net |
(32 | ) | 68 | (103 | ) | 87 | ||||||||||
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Income from continuing operations before income taxes |
1,350 | 1,753 | 4,380 | 4,911 | ||||||||||||
Income taxes |
(346 | ) | (600 | ) | (1,249 | ) | (1,494 | ) | ||||||||
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Income from continuing operations |
1,004 | 1,152 | 3,131 | 3,417 | ||||||||||||
Income (loss) from discontinued operations, net of income taxes |
94 | (382 | ) | 210 | (326 | ) | ||||||||||
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Net income |
1,098 | 770 | 3,341 | 3,092 | ||||||||||||
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Attributable to: |
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Non-controlling interests |
27 | 27 | 64 | 79 | ||||||||||||
Shareholders of Siemens AG |
1,071 | 743 | 3,277 | 3,013 | ||||||||||||
Basic earnings per share |
||||||||||||||||
Income from continuing operations |
1.16 | 1.28 | 3.64 | 3.81 | ||||||||||||
Income (loss) from discontinued operations |
0.11 | (0.43 | ) | 0.24 | (0.38 | ) | ||||||||||
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Net income |
1.27 | 0.85 | 3.88 | 3.43 | ||||||||||||
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Diluted earnings per share |
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Income from continuing operations |
1.15 | 1.27 | 3.61 | 3.77 | ||||||||||||
Income (loss) from discontinued operations |
0.11 | (0.43 | ) | 0.24 | (0.37 | ) | ||||||||||
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Net income |
1.26 | 0.84 | 3.84 | 3.40 | ||||||||||||
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (preliminary and unaudited) For the three and nine months ended June 30, 2013 and 2012 (in millions of ) |
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Three months ended June 30, |
Nine months ended June 30, |
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2013 | 2012(1) | 2013 | 2012(1) | |||||||||||||
Net income |
1,098 | 770 | 3,341 | 3,092 | ||||||||||||
Items that will not be reclassified to profit or loss: |
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Remeasurements of defined benefit plans |
404 | (1,124 | ) | 349 | (1,193 | ) | ||||||||||
Items that may be reclassified subsequently to profit or loss: |
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Currency translation differences |
(585 | ) | 613 | (619 | ) | 1,062 | ||||||||||
Available-for-sale financial assets |
34 | 41 | 42 | 122 | ||||||||||||
Derivative financial instruments |
41 | (146 | ) | 83 | (76 | ) | ||||||||||
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(510 | ) | 508 | (494 | ) | 1,108 | |||||||||||
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Other comprehensive income, net of tax (2) |
(106 | ) | (616 | ) | (145 | ) | (85 | ) | ||||||||
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Total comprehensive income |
992 | 154 | 3,196 | 3,006 | ||||||||||||
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Attributable to: |
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Non-controlling interests |
6 | 42 | 45 | 95 | ||||||||||||
Shareholders of Siemens AG |
985 | 112 | 3,152 | 2,911 |
(1) | Adjusted for effects of adopting IAS 19R. |
(2) | Includes income (expense) resulting from investments accounted for using the equity method of (12) million and (22) million, respectively, for the three months ended June 30, 2013 and 2012, and (126) million and 2 million for the nine months ended June 30, 2013 and 2012, respectively. |
Thereof - million and (40) million, respectively, for the three months ended June 30, 2013 and 2012, and (117) million and (89) million for the nine months ended June 30, 2013 and 2012, respectively, are attributable to items that will not be reclassified to profit or loss.
Due to rounding, numbers presented may not add up precisely to totals provided.
SIEMENS
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
As of June 30, 2013 (preliminary and unaudited) and September 30, 2012
(in millions of )
6/30/13 | 9/30/12(1) | |||||||
ASSETS |
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Current assets |
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Cash and cash equivalents |
6,071 | 10,891 | ||||||
Available-for-sale financial assets |
506 | 524 | ||||||
Trade and other receivables |
15,918 | 15,220 | ||||||
Other current financial assets |
3,372 | 2,901 | ||||||
Inventories |
16,807 | 15,679 | ||||||
Income tax receivables |
698 | 836 | ||||||
Other current assets |
1,353 | 1,277 | ||||||
Assets classified as held for disposal |
6,763 | 4,799 | ||||||
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Total current assets |
51,488 | 52,128 | ||||||
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Goodwill |
18,225 | 17,069 | ||||||
Other intangible assets |
5,399 | 4,595 | ||||||
Property, plant and equipment |
10,180 | 10,763 | ||||||
Investments accounted for using the equity method |
2,997 | 4,436 | ||||||
Other financial assets |
14,213 | 14,666 | ||||||
Deferred tax assets |
3,055 | 3,748 | ||||||
Other assets |
958 | 846 | ||||||
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Total assets |
106,514 | 108,251 | ||||||
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LIABILITIES AND EQUITY |
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Current liabilities |
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Short-term debt and current maturities of long-term debt |
3,656 | 3,826 | ||||||
Trade payables |
7,067 | 8,036 | ||||||
Other current financial liabilities |
1,806 | 1,460 | ||||||
Current provisions |
4,630 | 4,750 | ||||||
Income tax payables |
1,751 | 2,204 | ||||||
Other current liabilities |
21,689 | 20,302 | ||||||
Liabilities associated with assets classified as held for disposal |
2,075 | 2,049 | ||||||
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Total current liabilities |
42,674 | 42,627 | ||||||
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Long-term debt |
19,140 | 16,880 | ||||||
Pension plans and similar commitments |
9,325 | 9,801 | ||||||
Deferred tax liabilities |
593 | 494 | ||||||
Provisions |
3,715 | 3,908 | ||||||
Other financial liabilities |
1,040 | 1,083 | ||||||
Other liabilities |
2,118 | 2,034 | ||||||
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Total liabilities |
78,605 | 76,827 | ||||||
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Equity |
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Common stock, no par value (2) |
2,643 | 2,643 | ||||||
Additional paid-in capital |
5,463 | 6,173 | ||||||
Retained earnings |
21,669 | 22,877 | ||||||
Other components of equity |
583 | 1,058 | ||||||
Treasury shares, at cost (3) |
(2,966 | ) | (1,897 | ) | ||||
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Total equity attributable to shareholders of Siemens AG |
27,393 | 30,855 | ||||||
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Non-controlling interests |
516 | 569 | ||||||
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Total equity |
27,909 | 31,424 | ||||||
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Total liabilities and equity |
106,514 | 108,251 | ||||||
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(1) | Adjusted for effects of adopting IAS 19R. |
(2) | Authorized: 1,084,600,000 and 1,084,600,000 shares, respectively. Issued: 881,000,000 and 881,000,000 shares, respectively. |
(3) | 38,250,330 and 24,725,674 shares, respectively. |
Due to rounding, numbers presented may not add up precisely to totals provided.
SIEMENS
CONSOLIDATED STATEMENTS OF CASH FLOW (preliminary and unaudited)
For the three months ended June 30, 2013 and 2012
(in millions of )
Three months ended June 30, |
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2013 | 2012(1) | |||||||
Cash flows from operating activities |
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Net income |
1,098 | 770 | ||||||
Adjustments to reconcile net income to cash provided by (used in) operating activities continuing operations |
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(Income) loss from discontinued operations, net of income taxes |
(94 | ) | 382 | |||||
Amortization, depreciation and impairments |
685 | 678 | ||||||
Income taxes |
346 | 600 | ||||||
Interest (income) expense, net |
(48 | ) | (45 | ) | ||||
(Gains) losses on sales and disposals of businesses, intangibles and property, plant and equipment, net |
(3 | ) | (8 | ) | ||||
(Gains) losses on sales of investments, net (2) |
| (14 | ) | |||||
(Gains) losses on sales and impairments of current available-for-sale financial assets, net |
(1 | ) | 1 | |||||
(Income) losses from investments (2) |
(180 | ) | 26 | |||||
Other non-cash (income) expenses |
233 | 16 | ||||||
Change in assets and liabilities |
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(Increase) decrease in inventories |
(446 | ) | (166 | ) | ||||
(Increase) decrease in trade and other receivables |
(894 | ) | 39 | |||||
Increase (decrease) in trade payables |
284 | 63 | ||||||
Change in other assets and liabilities |
618 | (783 | ) | |||||
Additions to assets held for rental in operating leases |
(84 | ) | (72 | ) | ||||
Income taxes paid |
(508 | ) | (433 | ) | ||||
Dividends received |
156 | 140 | ||||||
Interest received |
212 | 220 | ||||||
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Net cash provided by (used in) operating activities continuing operations |
1,374 | 1,414 | ||||||
Net cash provided by (used in) operating activities discontinued operations |
114 | 104 | ||||||
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Net cash provided by (used in) operating activities continuing and discontinued operations |
1,489 | 1,518 | ||||||
Cash flows from investing activities |
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Additions to intangible assets and property, plant and equipment |
(401 | ) | (514 | ) | ||||
Acquisitions, net of cash acquired |
(2,008 | ) | (531 | ) | ||||
Purchases of investments (2) |
(27 | ) | (77 | ) | ||||
Purchases of current available-for-sale financial assets |
(14 | ) | (10 | ) | ||||
(Increase) decrease in receivables from financing activities |
(567 | ) | 290 | |||||
Proceeds and (payments) from sales of investments, intangibles and property, plant and |
35 | 65 | ||||||
Proceeds and (payments) from disposals of businesses |
8 | | ||||||
Proceeds from sales of current available-for-sale financial assets |
31 | 17 | ||||||
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Net cash provided by (used in) investing activities continuing operations |
(2,944 | ) | (760 | ) | ||||
Net cash provided by (used in) investing activities discontinued operations |
(90 | ) | (123 | ) | ||||
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Net cash provided by (used in) investing activities continuing and discontinued operations |
(3,034 | ) | (883 | ) | ||||
Cash flows from financing activities |
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Purchase of common stock |
(74 | ) | | |||||
Proceeds (payments) relating to other transactions with owners |
(19 | ) | 20 | |||||
Proceeds from issuance of long-term debt |
305 | | ||||||
Repayment of long-term debt (including current maturities of long-term debt) |
(122 | ) | (4 | ) | ||||
Change in short-term debt and other financing activities |
31 | 7 | ||||||
Interest paid |
(99 | ) | (162 | ) | ||||
Dividends paid to non-controlling interest holders |
(26 | ) | (32 | ) | ||||
Financing discontinued operations (3) |
62 | (16 | ) | |||||
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Net cash provided by (used in) financing activities continuing operations |
57 | (186 | ) | |||||
Net cash provided by (used in) financing activities discontinued operations |
(24 | ) | 18 | |||||
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Net cash provided by (used in) financing activities continuing and discontinued operations |
33 | (169 | ) | |||||
Effect of exchange rates on cash and cash equivalents |
(61 | ) | 75 | |||||
Net increase (decrease) in cash and cash equivalents |
(1,573 | ) | 541 | |||||
Cash and cash equivalents at beginning of period |
7,943 | 8,454 | ||||||
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Cash and cash equivalents at end of period |
6,370 | 8,996 | ||||||
Less: Cash and cash equivalents of assets classified as held for disposal and discontinued operations at end of period |
298 | 32 | ||||||
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Cash and cash equivalents at end of period (Consolidated Statements of Financial Position) |
6,071 | 8,963 | ||||||
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(1) | Adjusted for effects of adopting IAS 19R. |
(2) | Investments include equity instruments either classified as non-current available-for-sale financial assets, accounted for using the equity method or classified as held for disposal. Purchases of investments includes certain loans to investments accounted for using the equity method. |
(3) | Discontinued operations are financed principally through Corporate Treasury. The item Financing discontinued operations includes these intercompany financing transactions. |
Due to rounding, numbers presented may not add up precisely to totals provided.
SIEMENS
CONSOLIDATED STATEMENTS OF CASH FLOW (preliminary and unaudited)
For the nine months ended June 30, 2013 and 2012
(in millions of )
Nine months ended June 30, |
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2013 | 2012(1) | |||||||
Cash flows from operating activities |
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Net income |
3,341 | 3,092 | ||||||
Adjustments to reconcile net income to cash provided by (used in) operating activities continuing operations |
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(Income) loss from discontinued operations, net of income taxes |
(210 | ) | 326 | |||||
Amortization, depreciation and impairments |
2,045 | 1,998 | ||||||
Income taxes |
1,249 | 1,494 | ||||||
Interest (income) expense, net |
(131 | ) | (128 | ) | ||||
(Gains) losses on sales and disposals of businesses, intangibles and property, plant and equipment, net |
(40 | ) | (41 | ) | ||||
(Gains) losses on sales of investments, net (2) |
(6 | ) | (198 | ) | ||||
(Gains) losses on sales and impairments of current available-for-sale financial assets, net |
(2 | ) | 1 | |||||
(Income) losses from investments (2) |
(326 | ) | 486 | |||||
Other non-cash (income) expenses |
470 | 41 | ||||||
Change in assets and liabilities |
||||||||
(Increase) decrease in inventories |
(943 | ) | (1,569 | ) | ||||
(Increase) decrease in trade and other receivables |
(879 | ) | (601 | ) | ||||
Increase (decrease) in trade payables |
(976 | ) | (306 | ) | ||||
Change in other assets and liabilities |
(337 | ) | (2,167 | ) | ||||
Additions to assets held for rental in operating leases |
(295 | ) | (264 | ) | ||||
Income taxes paid |
(1,782 | ) | (1,133 | ) | ||||
Dividends received |
255 | 191 | ||||||
Interest received |
624 | 644 | ||||||
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Net cash provided by (used in) operating activities continuing operations |
2,055 | 1,866 | ||||||
Net cash provided by (used in) operating activities discontinued operations |
190 | (9 | ) | |||||
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|||||
Net cash provided by (used in) operating activities continuing and discontinued operations |
2,246 | 1,857 | ||||||
Cash flows from investing activities |
||||||||
Additions to intangible assets and property, plant and equipment |
(1,140 | ) | (1,448 | ) | ||||
Acquisitions, net of cash acquired |
(2,727 | ) | (1,272 | ) | ||||
Purchases of investments (2) |
(223 | ) | (217 | ) | ||||
Purchases of current available-for-sale financial assets |
(43 | ) | (135 | ) | ||||
(Increase) decrease in receivables from financing activities |
(1,126 | ) | (943 | ) | ||||
Proceeds and (payments) from sales of investments, intangibles and property, plant and equipment (2) |
424 | 466 | ||||||
Proceeds and (payments) from disposals of businesses |
(27 | ) | 79 | |||||
Proceeds from sales of current available-for-sale financial assets |
62 | 92 | ||||||
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|||||
Net cash provided by (used in) investing activities continuing operations |
(4,800 | ) | (3,379 | ) | ||||
Net cash provided by (used in) investing activities discontinued operations |
(198 | ) | (530 | ) | ||||
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|
|||||
Net cash provided by (used in) investing activities continuing and discontinued operations |
(4,998 | ) | (3,909 | ) | ||||
Cash flows from financing activities |
||||||||
Purchase of common stock |
(1,394 | ) | | |||||
Proceeds (payments) relating to other transactions with owners |
(14 | ) | 121 | |||||
Proceeds from issuance of long-term debt |
3,772 | 2,473 | ||||||
Repayment of long-term debt (including current maturities of long-term debt) |
(2,153 | ) | (3,193 | ) | ||||
Change in short-term debt and other financing activities |
978 | 2,206 | ||||||
Interest paid |
(328 | ) | (407 | ) | ||||
Dividends paid |
(2,528 | ) | (2,629 | ) | ||||
Dividends paid to non-controlling interest holders |
(134 | ) | (127 | ) | ||||
Financing discontinued operations (3) |
11 | (568 | ) | |||||
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Net cash provided by (used in) financing activities continuing operations |
(1,792 | ) | (2,123 | ) | ||||
Net cash provided by (used in) financing activities discontinued operations |
8 | 539 | ||||||
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|||||
Net cash provided by (used in) financing activities continuing and discontinued operations |
(1,784 | ) | (1,584 | ) | ||||
Effect of exchange rates on cash and cash equivalents |
(44 | ) | 121 | |||||
Net increase (decrease) in cash and cash equivalents |
(4,580 | ) | (3,516 | ) | ||||
Cash and cash equivalents at beginning of period |
10,950 | 12,512 | ||||||
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Cash and cash equivalents at end of period |
6,370 | 8,996 | ||||||
Less: Cash and cash equivalents of assets classified as held for disposal and discontinued operations at end of period |
298 | 32 | ||||||
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Cash and cash equivalents at end of period (Consolidated Statements of Financial Position) |
6,071 | 8,963 | ||||||
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(1) | Adjusted for effects of adopting IAS 19R. |
(2) | Investments include equity instruments either classified as non-current available-for-sale financial assets, accounted for using the equity method or classified as held for disposal. Purchases of investments includes certain loans to investments accounted for using the equity method. |
(3) | Discontinued operations are financed principally through Corporate Treasury. The item Financing discontinued operations includes these intercompany financing transactions. |
Due to rounding, numbers presented may not add up precisely to totals provided.
SIEMENS
SEGMENT INFORMATION (continuing operations preliminary and unaudited)
As of and for the three months ended June 30, 2013 and 2012 and as of September 30, 2012
(in millions of )
Orders(1) | External revenue |
Intersegment revenue |
Total revenue |
Profit(2) | Assets(3) | Free cash flow(4) |
Additions to intangible assets and property, plant and equipment |
Amortization, depreciation and impairments(5) |
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2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 6/30/13 | 9/30/12 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sectors |
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Energy |
5,353 | 5,246 | 6,578 | 6,962 | 61 | 63 | 6,639 | 7,025 | 430 | 683 | 2,503 | 1,116 | (54 | ) | (259 | ) | 85 | 116 | 136 | 124 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Healthcare |
3,274 | 3,316 | 3,362 | 3,329 | 5 | 15 | 3,367 | 3,343 | 499 | 396 | 11,565 | 11,757 | 678 | 786 | 77 | 89 | 159 | 170 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industry |
5,135 | 5,116 | 4,569 | 4,691 | 422 | 411 | 4,990 | 5,102 | 347 | 523 | 7,670 | 7,014 | 614 | 660 | 95 | 109 | 167 | 153 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Infrastructure & Cities |
7,505 | 4,185 | 4,285 | 4,061 | 172 | 210 | 4,456 | 4,271 | (15 | ) | 215 | 6,669 | 4,012 | (196 | ) | (71 | ) | 51 | 68 | 81 | 69 | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Total Sectors |
21,266 | 17,863 | 18,793 | 19,042 | 660 | 699 | 19,453 | 19,741 | 1,261 | 1,817 | 28,407 | 23,899 | 1,043 | 1,115 | 308 | 382 | 543 | 516 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Investments |
| | | | | | | | 143 | (74 | ) | 2,793 | 2,715 | 115 | 98 | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Services (SFS) |
286 | 274 | 245 | 267 | 41 | 8 | 286 | 274 | 73 | 105 | 18,046 | 17,405 | 183 | 83 | 8 | 6 | 58 | 64 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reconciliation to Consolidated Financial Statements |
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Centrally managed portfolio activities |
51 | 62 | 60 | 67 | 2 | 3 | 62 | 70 | 12 | (11 | ) | (281 | ) | (448 | ) | (29 | ) | 23 | 3 | 1 | 1 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Siemens Real Estate (SRE) |
631 | 615 | 70 | 80 | 562 | 535 | 632 | 615 | 16 | 22 | 4,863 | 5,018 | 16 | (33 | ) | 68 | 102 | 74 | 89 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate items and pensions |
116 | 134 | 80 | 86 | 37 | 46 | 116 | 132 | (127 | ) | (128 | ) | (10,898 | ) | (11,693 | ) | 73 | 22 | 16 | 24 | 18 | 17 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Eliminations, Corporate Treasury and other reconciling items |
(1,209 | ) | (1,178 | ) | | | (1,302 | ) | (1,290 | ) | (1,302 | ) | (1,290 | ) | (27 | ) | 22 | 63,585 | 71,354 | (428 | ) | (408 | ) | (1 | ) | | (8 | ) | (10 | ) | ||||||||||||||||||||||||||||||||||||||||||
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Siemens |
21,141 | 17,770 | 19,248 | 19,542 | | | 19,248 | 19,542 | 1,350 | 1,753 | 106,514 | 108,251 | 973 | 899 | 401 | 514 | 685 | 678 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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(1) | This supplementary information on Orders is provided on a voluntary basis. It is not part of the Interim Consolidated Financial Statements subject to the review opinion. |
(2) | Profit of the Sectors as well as of Equity Investments and Centrally managed portfolio activities is earnings before financing interest, certain pension costs and income taxes. Certain other items not considered performance indicative by Management may be excluded. Profit of SFS and SRE is Income before income taxes. |
(3) | Assets of the Sectors as well as of Equity Investments and Centrally managed portfolio activities is defined as Total assets less income tax assets, less non-interest bearing liabilities other than tax liabilities. Assets of SFS and SRE is Total assets. |
(4) | Free cash flow represents net cash provided by (used in) operating activities less additions to intangible assets and property, plant and equipment. Free cash flow of the Sectors, Equity Investments and Centrally managed portfolio activities primarily exclude income tax, financing interest and certain pension related payments and proceeds. Free cash flow of SFS, a financial services business, and of SRE includes related financing interest payments and proceeds; income tax payments and proceeds of SFS and SRE are excluded. |
(5) | Amortization, depreciation and impairments contains amortization and impairments, net of reversals of impairments, of intangible assets other than goodwill as well as depreciation and impairments of property, plant and equipment, net of reversals of impairments. |
Due to rounding, numbers presented may not add up precisely to totals provided.
SIEMENS
SEGMENT INFORMATION (continuing operations preliminary and unaudited)
As of and for the nine months ended June 30, 2013 and 2012 and as of September 30, 2012
(in millions of )
Orders(1) | External revenue |
Intersegment revenue |
Total revenue |
Profit(2) | Assets(3) | Free cash flow(4) |
Additions to intangible assets and property, plant and equipment |
Amortization, depreciation and impairments(5) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 6/30/13 | 9/30/12 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sectors |
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Energy |
21,188 | 18,244 | 19,013 | 19,917 | 189 | 171 | 19,201 | 20,089 | 1,392 | 1,737 | 2,503 | 1,116 | 81 | (159 | ) | 229 | 338 | 410 | 348 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Healthcare |
9,890 | 9,846 | 9,882 | 9,822 | 15 | 34 | 9,897 | 9,857 | 1,447 | 1,184 | 11,565 | 11,757 | 1,353 | 1,010 | 191 | 248 | 478 | 552 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industry |
14,268 | 15,161 | 13,060 | 13,677 | 1,183 | 1,197 | 14,243 | 14,874 | 1,196 | 1,740 | 7,670 | 7,014 | 1,264 | 1,178 | 239 | 269 | 500 | 432 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Infrastructure & Cities |
17,078 | 12,760 | 12,143 | 11,994 | 516 | 589 | 12,658 | 12,582 | 140 | 686 | 6,669 | 4,012 | (594 | ) | 119 | 150 | 191 | 216 | 200 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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Total Sectors |
62,424 | 56,010 | 54,097 | 55,411 | 1,902 | 1,991 | 56,000 | 57,402 | 4,175 | 5,347 | 28,407 | 23,899 | 2,104 | 2,149 | 808 | 1,046 | 1,605 | 1,532 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Investments |
| | | | | | | | 286 | (593 | ) | 2,793 | 2,715 | 115 | 100 | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Services (SFS) |
725 | 660 | 658 | 620 | 68 | 40 | 725 | 660 | 303 | 379 | 18,046 | 17,405 | 579 | 399 | 54 | 23 | 177 | 201 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reconciliation to Consolidated Financial Statements |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Centrally managed portfolio activities |
219 | 213 | 190 | 216 | 7 | 7 | 197 | 224 | 35 | (5 | ) | (281 | ) | (448 | ) | (52 | ) | (31 | ) | 5 | 3 | 3 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||
Siemens Real Estate (SRE) |
1,853 | 1,779 | 214 | 244 | 1,641 | 1,548 | 1,854 | 1,792 | 59 | 27 | 4,863 | 5,018 | (61 | ) | (180 | ) | 223 | 297 | 214 | 244 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate items and pensions |
375 | 392 | 246 | 250 | 130 | 142 | 376 | 391 | (446 | ) | (282 | ) | (10,898 | ) | (11,693 | ) | (438 | ) | (739 | ) | 52 | 81 | 72 | 48 | ||||||||||||||||||||||||||||||||||||||||||||||||
Eliminations, Corporate Treasury and other reconciling items |
(3,613 | ) | (3,596 | ) | | | (3,748 | ) | (3,729 | ) | (3,748 | ) | (3,729 | ) | (31 | ) | 39 | 63,585 | 71,354 | (1,333 | ) | (1,280 | ) | (2 | ) | (2 | ) | (26 | ) | (32 | ) | |||||||||||||||||||||||||||||||||||||||||
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Siemens |
61,984 | 55,458 | 55,404 | 56,741 | | | 55,404 | 56,741 | 4,380 | 4,911 | 106,514 | 108,251 | 915 | 418 | 1,140 | 1,448 | 2,044 | 1,998 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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(1) | This supplementary information on Orders is provided on a voluntary basis. It is not part of the Interim Consolidated Financial Statements subject to the review opinion. |
(2) | Profit of the Sectors as well as of Equity Investments and Centrally managed portfolio activities is earnings before financing interest, certain pension costs and income taxes. Certain other items not considered performance indicative by Management may be excluded. Profit of SFS and SRE is Income before income taxes. |
(3) | Assets of the Sectors as well as of Equity Investments and Centrally managed portfolio activities is defined as Total assets less income tax assets, less non-interest bearing liabilities other than tax liabilities. Assets of SFS and SRE is Total assets. |
(4) | Free cash flow represents net cash provided by (used in) operating activities less additions to intangible assets and property, plant and equipment. Free cash flow of the Sectors, Equity Investments and Centrally managed portfolio activities primarily exclude income tax, financing interest and certain pension related payments and proceeds. Free cash flow of SFS, a financial services business, and of SRE includes related financing interest payments and proceeds; income tax payments and proceeds of SFS and SRE are excluded. |
(5) | Amortization, depreciation and impairments contains amortization and impairments, net of reversals of impairments, of intangible assets other than goodwill as well as depreciation and impairments of property, plant and equipment, net of reversals of impairments. |
Due to rounding, numbers presented may not add up precisely to totals provided.
ADDITIONAL INFORMATION (I) (continuing operations preliminary and unaudited)
Orders, Revenue, Profit, Profit margin developments and growth rates for Sectors
For the three months ended June 30, 2013 and 2012
(in millions of )
Orders | Revenue | Profit(1) | Profit margin |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | % Change | therein | 2013 | 2012 | % Change | therein | 2013 | 2012 | % Change | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual | Adjus- ted(2) |
Cur- rency |
Port- folio |
Actual | Adjus- ted(2) |
Cur- rency |
Port- folio |
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Sectors |
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Energy Sector |
5,353 | 5,246 | 2 | % | 3 | % | (1 | )% | 0 | % | 6,639 | 7,025 | (5 | )% | (4 | )% | (2 | )% | 0 | % | 430 | 683 | (37 | )% | 6.5 | % | 9.7 | % | ||||||||||||||||||||||||||||||||||||||||
therein: |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fossil Power Generation |
1,907 | 2,457 | (22 | )% | (22 | )% | (1 | )% | 0 | % | 2,432 | 2,699 | (10 | )% | (9 | )% | (1 | )% | 0 | % | 368 | 475 | (23 | )% | 15.1 | % | 17.6 | % | ||||||||||||||||||||||||||||||||||||||||
Wind Power |
631 | 518 | 22 | % | 19 | % | 1 | % | 1 | % | 1,373 | 1,402 | (2 | )% | (1 | )% | (2 | )% | 0 | % | 21 | 66 | (67 | )% | 1.6 | % | 4.7 | % | ||||||||||||||||||||||||||||||||||||||||
Oil & Gas |
1,505 | 1,175 | 28 | % | 28 | % | (1 | )% | 1 | % | 1,294 | 1,357 | (5 | )% | (3 | )% | (2 | )% | 1 | % | 133 | 108 | 24 | % | 10.3 | % | 7.9 | % | ||||||||||||||||||||||||||||||||||||||||
Power Transmission |
1,361 | 1,160 | 17 | % | 20 | % | (3 | )% | 0 | % | 1,527 | 1,632 | (6 | )% | (4 | )% | (2 | )% | 0 | % | (49 | ) | 52 | n/a | (3.2 | )% | 3.2 | % | ||||||||||||||||||||||||||||||||||||||||
Healthcare Sector |
3,274 | 3,316 | (1 | )% | 2 | % | (3 | )% | 0 | % | 3,367 | 3,343 | 1 | % | 4 | % | (3 | )% | 0 | % | 499 | 396 | 26 | % | 14.8 | % | 11.8 | % | ||||||||||||||||||||||||||||||||||||||||
therein: |
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Diagnostics |
992 | 1,009 | (2 | )% | 1 | % | (3 | )% | 0 | % | 992 | 1,014 | (2 | )% | 1 | % | (3 | )% | 0 | % | 72 | 94 | (23 | )% | 7.3 | % | 9.2 | % | ||||||||||||||||||||||||||||||||||||||||
Industry Sector |
5,135 | 5,116 | 0 | % | 0 | % | (1 | )% | 1 | % | 4,990 | 5,102 | (2 | )% | (2 | )% | (1 | )% | 0 | % | 347 | 523 | (34 | )% | 7.0 | % | 10.2 | % | ||||||||||||||||||||||||||||||||||||||||
therein: |
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Industry Automation |
2,282 | 2,289 | 0 | % | 0 | % | (2 | )% | 2 | % | 2,296 | 2,332 | (2 | )% | (1 | )% | (1 | )% | 1 | % | 236 | 273 | (14 | )% | 10.3 | % | 11.7 | % | ||||||||||||||||||||||||||||||||||||||||
Drive Technologies |
2,131 | 2,263 | (6 | )% | (5 | )% | (1 | )% | 0 | % | 2,357 | 2,445 | (4 | )% | (3 | )% | (1 | )% | 0 | % | 127 | 210 | (40 | )% | 5.4 | % | 8.6 | % | ||||||||||||||||||||||||||||||||||||||||
Infrastructure & Cities Sector |
7,505 | 4,185 | 79 | % | 83 | % | (6 | )% | 3 | % | 4,456 | 4,271 | 4 | % | 3 | % | (1 | )% | 3 | % | (15 | ) | 215 | n/a | (0.3 | )% | 5.0 | % | ||||||||||||||||||||||||||||||||||||||||
therein: |
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Transportation & Logistics |
4,575 | 1,264 | >200 | % | >200 | % | (17 | )% | 9 | % | 1,647 | 1,455 | 13 | % | 6 | % | (2 | )% | 9 | % | (160 | ) | 61 | n/a | (9.7 | )% | 4.2 | % | ||||||||||||||||||||||||||||||||||||||||
Power Grid Solutions & Products |
1,584 | 1,567 | 1 | % | 3 | % | (2 | )% | 0 | % | 1,491 | 1,471 | 1 | % | 3 | % | (2 | )% | 0 | % | 102 | 75 | 35 | % | 6.8 | % | 5.1 | % | ||||||||||||||||||||||||||||||||||||||||
Building Technologies |
1,422 | 1,423 | 0 | % | 1 | % | (1 | )% | 0 | % | 1,381 | 1,409 | (2 | )% | (1 | )% | (1 | )% | 0 | % | 31 | 64 | (51 | )% | 2.3 | % | 4.5 | % | ||||||||||||||||||||||||||||||||||||||||
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Total Sectors |
21,266 | 17,863 | 19 | % | 21 | % | (3 | )% | 1 | % | 19,453 | 19,741 | (1 | )% | (1 | )% | (2 | )% | 1 | % | 1,261 | 1,817 | (31 | )% | ||||||||||||||||||||||||||||||||||||||||||||
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(1) | Profit is earnings before financing interest, certain pension costs and income taxes. Certain other items not considered performance indicative by Management may be excluded. |
(2) | Excluding currency translation and portfolio effects. |
Due to rounding, numbers presented may not add up precisely to totals provided.
SUPPLEMENTAL DATA
SIEMENS
ADDITIONAL INFORMATION (I) (continuing operations preliminary and unaudited)
Orders, Revenue, Profit, Profit margin developments and growth rates for Sectors
For the nine months ended June 30, 2013 and 2012
(in millions of )
Orders | Revenue | Profit(1) | Profit margin |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | % Change | therein | 2013 | 2012 | % Change | therein | 2013 | 2012 | % Change | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual | Adjus- ted(2) |
Cur- rency |
Port- folio |
Actual | Adjus- ted(2) |
Cur- rency |
Port- folio |
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Sectors |
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Energy Sector |
21,188 | 18,244 | 16 | % | 15 | % | 0 | % | 1 | % | 19,201 | 20,089 | (4 | )% | (5 | )% | 0 | % | 1 | % | 1,392 | 1,737 | (20 | )% | 7.2 | % | 8.6 | % | ||||||||||||||||||||||||||||||||||||||||
therein: |
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Fossil Power Generation |
7,802 | 7,751 | 1 | % | 0 | % | 0 | % | 0 | % | 7,461 | 8,172 | (9 | )% | (9 | )% | 0 | % | 0 | % | 1,305 | 1,557 | (16 | )% | 17.5 | % | 19.1 | % | ||||||||||||||||||||||||||||||||||||||||
Wind Power |
5,083 | 2,627 | 93 | % | 93 | % | 0 | % | 0 | % | 3,555 | 3,595 | (1 | )% | (1 | )% | 0 | % | 0 | % | 126 | 170 | (26 | )% | 3.6 | % | 4.7 | % | ||||||||||||||||||||||||||||||||||||||||
Oil & Gas |
4,073 | 3,778 | 8 | % | 5 | % | 0 | % | 3 | % | 3,816 | 3,880 | (2 | )% | (5 | )% | 0 | % | 3 | % | 282 | 329 | (14 | )% | 7.4 | % | 8.5 | % | ||||||||||||||||||||||||||||||||||||||||
Power Transmission |
4,168 | 4,273 | (2 | )% | (2 | )% | (1 | )% | 0 | % | 4,418 | 4,576 | (3 | )% | (3 | )% | (1 | )% | 0 | % | (114 | ) | (262 | ) | 57 | % | (2.6 | )% | (5.7 | )% | ||||||||||||||||||||||||||||||||||||||
Healthcare Sector |
9,890 | 9,846 | 0 | % | 1 | % | (1 | )% | 0 | % | 9,897 | 9,857 | 0 | % | 1 | % | (1 | )% | 0 | % | 1,447 | 1,184 | 22 | % | 14.6 | % | 12.0 | % | ||||||||||||||||||||||||||||||||||||||||
therein: |
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Diagnostics |
2,916 | 2,914 | 0 | % | 1 | % | (1 | )% | 0 | % | 2,916 | 2,914 | 0 | % | 1 | % | (1 | )% | 0 | % | 268 | 227 | 18 | % | 9.2 | % | 7.8 | % | ||||||||||||||||||||||||||||||||||||||||
Industry Sector |
14,268 | 15,161 | (6 | )% | (7 | )% | 0 | % | 1 | % | 14,243 | 14,874 | (4 | )% | (4 | )% | 0 | % | 0 | % | 1,196 | 1,740 | (31 | )% | 8.4 | % | 11.7 | % | ||||||||||||||||||||||||||||||||||||||||
therein: |
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Industry Automation |
6,705 | 7,160 | (6 | )% | (7 | )% | 0 | % | 1 | % | 6,695 | 6,915 | (3 | )% | (4 | )% | 0 | % | 1 | % | 745 | 931 | (20 | )% | 11.1 | % | 13.5 | % | ||||||||||||||||||||||||||||||||||||||||
Drive Technologies |
6,614 | 7,071 | (6 | )% | (7 | )% | 0 | % | 0 | % | 6,634 | 7,029 | (6 | )% | (6 | )% | 0 | % | 0 | % | 443 | 684 | (35 | )% | 6.7 | % | 9.7 | % | ||||||||||||||||||||||||||||||||||||||||
Infrastructure & Cities Sector |
17,078 | 12,760 | 34 | % | 35 | % | (2 | )% | 1 | % | 12,658 | 12,582 | 1 | % | 0 | % | 0 | % | 1 | % | 140 | 686 | (80 | )% | 1.1 | % | 5.5 | % | ||||||||||||||||||||||||||||||||||||||||
therein: |
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Transportation & Logistics |
8,289 | 4,155 | 99 | % | 102 | % | (5 | )% | 3 | % | 4,333 | 4,264 | 2 | % | (1 | )% | 0 | % | 3 | % | (370 | ) | 163 | n/a | (8.5 | )% | 3.8 | % | ||||||||||||||||||||||||||||||||||||||||
Power Grid Solutions & Products |
4,753 | 4,613 | 3 | % | 3 | % | 0 | % | 0 | % | 4,369 | 4,284 | 2 | % | 2 | % | 0 | % | 0 | % | 300 | 258 | 16 | % | 6.9 | % | 6.0 | % | ||||||||||||||||||||||||||||||||||||||||
Building Technologies |
4,245 | 4,228 | 0 | % | 0 | % | 0 | % | 0 | % | 4,158 | 4,221 | (1 | )% | (2 | )% | 0 | % | 0 | % | 183 | 226 | (19 | )% | 4.4 | % | 5.3 | % | ||||||||||||||||||||||||||||||||||||||||
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Total Sectors |
62,424 | 56,010 | 11 | % | 11 | % | (1 | )% | 1 | % | 56,000 | 57,402 | (2 | )% | (3 | )% | 0 | % | 1 | % | 4,175 | 5,347 | (22 | )% | ||||||||||||||||||||||||||||||||||||||||||||
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(1) | Profit is earnings before financing interest, certain pension costs and income taxes. Certain other items not considered performance indicative by Management may be excluded. |
(2) | Excluding currency translation and portfolio effects. |
Due to rounding, numbers presented may not add up precisely to totals provided.
SUPPLEMENTAL DATA
ADDITIONAL INFORMATION (II) (continuing operations preliminary and unaudited)
Reconciliation from Profit / Income before income taxes to adjusted EBITDA
For the three months ended June 30, 2013 and 2012
(in millions of )
Profit(1) | Income (loss) from investments accounted for using the equity method, net(2) |
Financial income (expense), net (3) |
Adjusted EBIT(4) |
Amortization(5) | Depreciation and impairments of property, plant and equipment and goodwill(6) |
Adjusted EBITDA |
Adjusted EBITDA margin |
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2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Sectors |
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Energy Sector |
430 | 683 | 25 | 14 | (5 | ) | (4 | ) | 410 | 672 | 29 | 26 | 107 | 98 | 545 | 797 | 8.2 | % | 11.3 | % | ||||||||||||||||||||||||||||||||||||||||||||
therein: |
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Fossil Power Generation |
368 | 475 | 5 | 11 | (3 | ) | (3 | ) | 366 | 468 | 5 | 5 | 35 | 35 | 406 | 508 | ||||||||||||||||||||||||||||||||||||||||||||||||
Wind Power |
21 | 66 | (2 | ) | 1 | (1 | ) | (1 | ) | 25 | 66 | 9 | 8 | 28 | 21 | 62 | 94 | |||||||||||||||||||||||||||||||||||||||||||||||
Oil & Gas |
133 | 108 | | | | (1 | ) | 133 | 109 | 12 | 11 | 20 | 18 | 165 | 138 | |||||||||||||||||||||||||||||||||||||||||||||||||
Power Transmission |
(49 | ) | 52 | 6 | 6 | (2 | ) | (2 | ) | (53 | ) | 48 | 3 | 3 | 25 | 22 | (25 | ) | 72 | |||||||||||||||||||||||||||||||||||||||||||||
Healthcare Sector |
499 | 396 | 1 | 1 | (33 | ) | 2 | 531 | 393 | 77 | 86 | 81 | 83 | 689 | 563 | 20.5 | % | 16.8 | % | |||||||||||||||||||||||||||||||||||||||||||||
therein: |
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Diagnostics |
72 | 94 | | | (34 | ) | 2 | 106 | 91 | 49 | 52 | 54 | 55 | 209 | 199 | |||||||||||||||||||||||||||||||||||||||||||||||||
Industry Sector |
347 | 523 | (10 | ) | 3 | (11 | ) | (3 | ) | 368 | 523 | 79 | 71 | 88 | 82 | 534 | 676 | 10.7 | % | 13.3 | % | |||||||||||||||||||||||||||||||||||||||||||
therein: |
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Industry Automation |
236 | 273 | | 1 | (2 | ) | | 238 | 273 | 65 | 56 | 37 | 35 | 341 | 364 | |||||||||||||||||||||||||||||||||||||||||||||||||
Drive Technologies |
127 | 210 | (10 | ) | 2 | (8 | ) | (3 | ) | 145 | 210 | 12 | 12 | 47 | 44 | 205 | 267 | |||||||||||||||||||||||||||||||||||||||||||||||
Infrastructure & Cities Sector |
(15 | ) | 215 | 5 | 9 | 8 | 12 | (28 | ) | 194 | 38 | 28 | 43 | 40 | 54 | 263 | 1.2 | % | 6.2 | % | ||||||||||||||||||||||||||||||||||||||||||||
therein: |
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Transportation & Logistics |
(160 | ) | 61 | 4 | 7 | (1 | ) | (3 | ) | (162 | ) | 58 | 16 | 3 | 13 | 11 | (133 | ) | 72 | |||||||||||||||||||||||||||||||||||||||||||||
Power Grid Solutions & Products |
102 | 75 | 2 | 2 | | (1 | ) | 100 | 74 | 9 | 10 | 19 | 18 | 127 | 102 | |||||||||||||||||||||||||||||||||||||||||||||||||
Building Technologies |
31 | 64 | | | 1 | | 31 | 64 | 14 | 15 | 11 | 12 | 55 | 91 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Sectors |
1,261 | 1,817 | 22 | 27 | (41 | ) | 7 | 1,280 | 1,783 | 223 | 212 | 319 | 304 | 1,823 | 2,299 | |||||||||||||||||||||||||||||||||||||||||||||||||
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Equity Investments |
143 | (74 | ) | 125 | (85 | ) | 2 | 2 | 15 | 9 | | | | | 15 | 9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Financial Services (SFS) |
73 | 105 | 23 | 30 | 74 | 94 | (25 | ) | (19 | ) | 1 | 2 | 57 | 62 | 33 | 45 | ||||||||||||||||||||||||||||||||||||||||||||||||
Reconciliation to Consolidated Financial Statements |
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Centrally managed portfolio activities |
12 | (11 | ) | 20 | | | | (7 | ) | (11 | ) | 1 | 2 | 1 | | (6 | ) | (9 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Siemens Real Estate (SRE) |
16 | 22 | | | (27 | ) | (22 | ) | 43 | 44 | | | 73 | 89 | 117 | 133 | ||||||||||||||||||||||||||||||||||||||||||||||||
Corporate items and pensions |
(127 | ) | (128 | ) | | | 11 | (23 | ) | (139 | ) | (105 | ) | 4 | 4 | 14 | 13 | (121 | ) | (88 | ) | |||||||||||||||||||||||||||||||||||||||||||
Eliminations, Corporate Treasury and other reconciling items |
(27 | ) | 22 | (1 | ) | 2 | (4 | ) | 56 | (22 | ) | (36 | ) | | | (8 | ) | (10 | ) | (30 | ) | (46 | ) | |||||||||||||||||||||||||||||||||||||||||
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Siemens |
1,350 | 1,753 | 188 | (26 | ) | 16 | 114 | 1,146 | 1,665 | 230 | 220 | 455 | 458 | 1,831 | 2,343 | |||||||||||||||||||||||||||||||||||||||||||||||||
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(1) | Profit of the Sectors as well as of Equity Investments and Centrally managed portfolio activities is earnings before financing interest, certain pension costs and income taxes. Certain other items not considered performance indicative by Management may be excluded. Profit of SFS and SRE is Income before income taxes. Profit of Siemens is Income from continuing operations before income taxes. For a reconciliation of Income from continuing operations before income taxes to Net income see Consolidated Statements of Income. |
(2) | Includes impairments and reversals of impairments of investments accounted for using the equity method. |
(3) | Includes impairment of non-current available-for-sale financial assets. For Siemens, Financial income (expense), net comprises Interest income, Interest expense and Other financial income (expense), net as reported in the Consolidated Statements of Income. |
(4) | Adjusted EBIT is Income from continuing operations before income taxes less Financial income (expense), net and Income (loss) from investments accounted for using the equity method, net. |
(5) | Amortization and impairments, net of reversals, of intangible assets other than goodwill. |
(6) | Depreciation and impairments of property, plant and equipment, net of reversals. Includes impairments of goodwill of million and million for the three months ended June 30, 2013 and 2012, respectively. |
Due to rounding, numbers presented may not add up precisely to totals provided.
SUPPLEMENTAL DATA
SIEMENS
ADDITIONAL INFORMATION (II) (continuing operations preliminary and unaudited)
Reconciliation from Profit / Income before income taxes to adjusted EBITDA
For the nine months ended June 30, 2013 and 2012
(in millions of )
Profit(1) | Income (loss) from investments accounted for using the equity method, net(2) |
Financial income (expense), net (3) |
Adjusted EBIT(4) |
Amortization(5) | Depreciation and impairments of property, plant and equipment and goodwill(6) |
Adjusted EBITDA |
Adjusted EBITDA margin |
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2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Sectors |
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Energy Sector |
1,392 | 1,737 | (42 | ) | 43 | (19 | ) | 66 | 1,453 | 1,628 | 85 | 67 |