Siemens 2008 Annual Report Download - page 156

60 Management’s discussion and analysis
The Europe/C.I.S./Africa region recorded order growth of 15%, including double-digit increases in all three Sec-
tors and a higher level of large orders compared to the prior year. These include the major orders noted above as
well as a large contract win for Energy in Germany. This latter order helped lift orders in Germany 6% for the
year. In the Americas, reported orders of €24.010 billion were 5% higher than in the prior year, highlighted by
the Renewable Energy order mentioned above. New volume from acquisitions, primarily in the U.S., only partly
offset strong negative currency translation effects in scal 2008. Excluding these effects, organic order growth
in the Americas was 11% year-over-year. Healthcare saw solid order growth in the region due mainly to the Dade
Behring acquisition, while orders at Industry declined compared to a year earlier. In contrast, Industry led
growth in Asia/Australia/Middle East, where orders climbed 10% year-over-year. Healthcare also achieved dou-
ble-digit growth in the region as well, again beneting from Dade Behring. Energy posted a higher level of large
orders in the region in scal 2007, resulting in a decline in scal 2008.
Revenue related to external customers for Siemens in 2008 rose 7% year-over-year, on double-digit growth in
Healthcare and Energy. Industry delivered 6% revenue growth, including double-digit increases at Industry
Automation and Drive Technologies which more than offset declines at Mobility, Building Technologies and
OSRAM. The Energy Sector recorded 12% growth in revenue, with increases in all Divisions including a 53%
surge at Renewable Energy. Revenue was up 13% in Healthcare, which beneted substantially from Dade
Behring.
In the Europe/C.I.S./Africa region, revenue grew 7% year-over-year, on double-digit increases in Healthcare and
Energy and 6% growth in Industry. Within the region, revenue in Germany rose 2%, including growth in all
three Sectors. The Americas region posted a 4% increase on 16% growth in Energy and 6% growth in Healthcare.
Revenue in Industry declined 1% compared to the prior-year level. Negative currency translation effects took
14% from reported growth in the U.S. On an organic basis, revenues rose 7% in the U.S. and 9% for the Americas
overall. Asia/Australia/Middle East saw 10% expansion in revenue, including double-digit growth in Healthcare
and Industry and 4% expansion in Energy. Revenue in China and India climbed 18% and 12%, respectively, com-
pared to the prior year, primarily on high double-digit growth in Industry.
Revenue (location of customer)
Year ended
September 30,
% Change
vs. previous year therein
(€ in millions) 2008 2007 Actual Adjusted* Currency Portfolio
Europe, C.I.S.**, Africa 40,795 38,180 7% 7% (2)% 2%
therein Germany 12,797 12,594 2% 1% 0% 1%
Americas 20,107 19,321 4% 9% (11)% 6%
therein U.S. 14,847 14,832 0% 7% (14)% 7%
Asia, Australia, Middle East 16,425 14,947 10% 12% (5)% 3%
therein China 4,878 4,146 18% 18% (2)% 2%
therein India 1,885 1,676 12% 13% (9)% 8%
Siemens 77,327 72,448 7% 9% (5)% 3%
* Excluding currency translation and portfolio effects. ** Commonwealth of Independent States.