Siemens 2007 Annual Report Download - page 125
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Management’s discussion and analysis 125
Management’s discussion and analysis
Industrial Solutions and Services (I&S)
In fi scal 2007, Group profi t at I&S climbed to €415 million, a 47% increase year-
over-year. Both earnings and margins improved throughout the Group, with the
strongest increases coming in the Group’s largest businesses: industrial services,
oil and gas and metal technologies. Amortization during fi scal 2007 declined com-
pared to fi scal 2006, primarily on lower PPA effects from acquisitions in prior
years including VA Technologies AG (VA Tech).
Orders at I&S for fi scal 2007 rose to €10.161 billion, 13% higher than in fi scal
2006. This growth was fueled by strong demand in Asia-Pacifi c and the Americas,
including large orders from Brazil and the U.S. While revenue of €8.894 billion
also included healthy growth in Asia-Pacifi c, this was offset somewhat by the
effects of industry-wide resource constraints as well as lower revenue in the
postal automation and airport logistics businesses compared to fi scal 2006.
Year ended September 30,
% Change
(€ in millions) 2007 2006 Actual Adjusted*
Group profi t 415 282 47%
Group profi t margin 4.7% 3.2%
New orders 10,161 9,025 13% 15%
Total revenue 8,894 8,819 1% 3%
External revenue 7,824 7,837 (0)%
Therein:
Germany 1,011 1,011 0%
Europe (other than Germany) 2,178 2,141 2%
Americas 2,359 2,549 (7)%
Asia-Pacifi c 1,364 1,187 15%
Africa, Near and Middle East, C.I.S. 912 949 (4)%
* Excluding currency translation effects of (3)% on revenue and orders, and portfolio effects of 1% on revenue
and orders.