Siemens 2007 Annual Report Download - page 120

120 Management’s discussion and analysis
Revenue for fi scal 2007 totaled €72.448 billion, a 9% increase compared to fi s-
cal 2006. Revenue in Europe outside Germany rose 11% year-over-year, to €22.801
billion, with A&D, PG and Med leading the increase. Revenue growth was more
restrained in the Americas, affected by the considerable weakening of the U.S.
dollar against the euro during the year, coming in 5% higher than in fi scal 2006
at €19.321 billion. Energy, automation and medical solutions were the highlights
for the Americas overall as well as for the U.S., which accounted for 77% of the
region’s revenue for the year. On an organic basis, revenue for the Americas and
the U.S. climbed 9% and 7% year-over-year, respectively.
Revenue grew more rapidly in Asia-Pacifi c, reaching €10.937 billion on a 16%
rise. Revenue in China was up 13% to €4.146 billion, as A&D, PG and TS converted
major orders from prior periods into current business. While the majority of
Groups booked more revenue in China than in India, revenue for India jumped
62% year-over-year from €1.034 billion to €1.676 billion and every operating
Group posted double-digit increases. Together China and India accounted for 53%
of Asia-Pacifi c revenue, up from 50% in fi scal 2006. The Africa, Near and Middle
East, C.I.S. region saw 17% growth compared to the prior year, benefi ting from
large infrastructure orders in prior years. Most Groups posted double-digit
increases in the region, with Siemens’ energy businesses accounting for 63% of
the total volume of €6.795 billion.
Revenue (location of customer)
Year ended
September 30,
% Change
vs. previous year therein
(€ in millions) 2007 2006 Actual Adjusted* Currency Portfolio
Germany 12,594 12,382 2% 2% 0% 0%
Europe (other than Germany) 22,801 20,489 11% 10% 0% 1%
Americas 19,321 18,371 5% 9% (8)% 4%
Asia-Pacifi c 10,937 9,457 16% 18% (3)% 1%
Africa, Near and
Middle East, C.I.S.** 6,795 5,788 17% 19% (3)% 1%
Siemens 72,448 66,487 9% 10% (3)% 2%
* Excluding currency translation and portfolio effects.
** Commonwealth of Independent States.
Year ended
September 30,
(€ in millions) 2007 2006 % Change
Gross profi t on revenue 20,876 17,379 20%
as percentage of revenue 28.8% 26.1%