Siemens 2007 Annual Report Download - page 119

Management’s discussion and analysis 119
Management’s discussion and analysis
Fiscal 2007 – Results of Siemens
The following discussion presents selected information for Siemens for the fi scal
years ended:
Siemens booked €83.916 billion in new orders in fi scal 2007. This 12% rise
compared to fi scal 2006 resulted in a book-to-bill ratio of 1.16 for the year. Europe
outside Germany and the Americas were the two largest regions by volume, fol-
lowed by Germany and Asia Pacifi c. Europe outside Germany showed the fastest
growth of any region, with a 19% increase to €26.648 billion for the year led by
strong demand at PG, Med, PTD and A&D and numerous large new contracts.
Orders in Germany were €13.562 billion, up 6% including strong contributions
from A&D, PG and TS.
In the Americas region, orders rose 13% in fi scal 2007, to €22.831 billion,
despite considerable weakening of the U.S. dollar against the euro. Continuing
demand for energy solutions at PG, and for industrial automation solutions at A&D
and I&S, more than compensated for currency and market conditions that led to
reductions in orders in the U.S. at TS, Med, Osram and SBT. As a result, the U.S.
share of orders in the region fell to 73% compared to 78% in fi scal 2006. On an
organic basis, excluding the net effect of portfolio transactions and unusually
strong negative currency translation effects, orders were up 18% and 11% in the
Americas and the U.S. respectively.
Orders in Asia-Pacifi c came in at €13.291 billion, 18% higher than in the prior
year, with PG, A&D, PTD, Med and I&S all winning at least 20% more new business
in the region. Orders in China and India were €4.871 billion and €2.015 billion,
and grew at 12% and 15% respectively, and accounted for 52% of new Asia-Pacifi c
orders. A year earlier, their combined share was 54%. New orders in the Africa,
Near and Middle East, C.I.S. region came in 9% lower year-over-year, at €7.584 bil-
lion, primarily because the prior year included a large order at TS for both trains
and maintenance in Russia. For the region as a whole, PTD, A&D and Osram saw
double-digit order growth for the current period.
New Orders (location of customer)
Year ended
September 30,
% Change
vs. previous year therein
(€ in millions) 2007 2006 Actual Adjusted* Currency Portfolio
Germany 13,562 12,782 6% 5% 0% 1%
Europe (other than Germany) 26,648 22,351 19% 18% 0% 1%
Americas 22,831 20,202 13% 18% (9)% 4%
Asia-Pacifi c 13,291 11,250 18% 19% (3)% 2%
Africa, Near and
Middle East, C.I.S.** 7,584 8,359 (9)% (7)% (3)% 1%
Siemens 83,916 74,944 12% 13% (3)% 2%
* Excluding currency translation and portfolio effects.
** Commonwealth of Independent States.