Siemens 2008 Annual Report Download - page 301

Notes to Consolidated Financial Statements 205
(in millions of €, except where otherwise stated and per share amounts)
37 Segment information
In scal 2008, the Company rearranged its organization to have a more focused Company, which is faster in the
market and closer to the customer. The previous twelve reportable segments referred to as Groups were consoli-
dated and newly structured into six remaining reportable segments each having its own segment management
reporting to the Board. In the new structure, the Company is divided into Sectors being Industry, Energy and
Healthcare, a segment for Equity Investments and two segments referred to as Cross-Sector Businesses, com-
posed of Siemens IT Solutions and Services and Siemens Financial Services (SFS). Industry is mainly composed
of the previous segments Automation and Drives (A&D), Industrial Solutions and Services (I&S), Siemens Build-
ing Technologies (SBT), OSRAM and Transportation Systems (TS). Energy is primarily combining the previous
segments Power Generation (PG) and Power Transmission and Distribution (PTD). Healthcare generally com-
prises the previous Medical Solutions (Med) segment. However, in certain instances, some businesses of the pre-
vious segments were transferred to and integrated in other segments to correspond to the new structure. Equity
Investments, Siemens IT Solutions and Services and SFS, in general, retained its previous structure. Siemens
Real Estate (SRE) is no longer a segment.
Commencing with the second half of scal 2008, Siemens changed its nancial reporting structure to reect the
Company’s new organization. Prior year information has been reclassied to correspond to the new reporting
format. Segment information is presented for continuing operations. Accordingly, current and prior period seg-
ment information excludes discontinued operations (see Note 4). The Company removed its previous compo-
nent model presentation which used to divide Siemens’ consolidated nancial statements into Operations,
Financing and Real Estate and Eliminations, reclassications and Corporate Treasury.
Description of reportable segments
Sectors
The three Sectors comprise manufacturing, industrial and commercial goods, solutions and services in areas
more or less related to Siemens’ origins in the electrical business eld.
Industry
The Industry Sector offers sustainable solutions for efcient use of resources and energy, integrated technolo-
gies for best-in-class productivity and exibility, and holistic solutions for infrastructure and mobility.
Energy
The Siemens Energy Sector primarily addresses energy providers, but also industrial companies particularly in
the oil and gas industry. Energy offers a complete spectrum of products, services and solutions for the genera-
tion, transmission and distribution of power, and for the extraction, conversion and transport of oil and gas.
Healthcare
The Healthcare Sector offers products and complete solutions, services and consulting related to the healthcare
industry and serves its customers as a fully integrated diagnostics provider. Healthcare maintains a comprehen-
sive portfolio of medical solutions and is present in substantially the complete value-added chain ranging from
medical imaging and laboratory diagnostics to clinical IT.