Siemens 2007 Annual Report Download - page 128

128 Management’s discussion and analysis
Transportation Systems (TS)
TS recorded Group profi t of €191 million for fi scal 2007, including a net gain of
€76 million on the sale of its locomotive leasing business. Earnings and margins
rose on a Groupwide basis except for the mass transit business, which took
charges related to its Combino railcar and posted a larger loss than in the prior
year.
Orders of €4.780 billion refl ect a signifi cantly lower level of large orders for the
Group as a whole in the second and third quarters compared to the same periods
of the prior year. Revenue of €4.452 billion came close to the prior-year level
despite a decline in revenue in the mass transit business. The Group’s large Euro-
pean market contributed solid growth while business in Asia-Pacifi c continued to
expand more rapidly from a smaller base.
Year ended September 30,
% Change
(€ in millions) 2007 2006 Actual Adjusted*
Group profi t 191 72 165%
Group profi t margin 4.3% 1.6%
New orders 4,780 6,173 (23)% (20)%
Total revenue 4,452 4,493 (1)% 2%
External revenue 4,418 4,429 (0)%
Therein:
Germany 717 890 (19)%
Europe (other than Germany) 2,353 2,150 9%
Americas 390 583 (33)%
Asia-Pacifi c 826 707 17%
Africa, Near and Middle East, C.I.S. 132 99 33%
* Excluding currency translation effects of (1)% on revenue and orders, and portfolio effects of (2)% on revenue
and orders.