Siemens 2009 Annual Report Download - page 209

121
New orders and order backlog; adjusted or organic growth rates of Revenue and new orders; book-to-bill
ratio; return on equity, or ROE; return on capital employed, or ROCE; Free cash flow; cash conversion rate, or
CCR; EBITDA (adjusted); EBIT (adjusted); earnings effect from purchase price allocation (PPA effects) and
integration costs; net debt and adjusted industrial net debt are or may be non-GAAP financial measures.
These supplemental financial measures should not be viewed in isolation as alternatives to measures of
Siemens’ financial condition, results of operations or cash flows as presented in accordance with IFRS in its
Consolidated Financial Statements. A definition of these supplemental financial measures, a reconciliation
to the most directly comparable IFRS financial measures and information regarding the usefulness and
limitations of these supplemental financial measures can be found on Siemens’ Investor Relations website
at www.siemens.com/nonGAAP.
This document contains forward-looking statements and information – that is, statements related to future,
not past, events. These statements may be identified by words such as “expects,” “looks forward to,” “antici-
pates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will,” “project” or words of similar meaning. Such
statements are based on the current expectations and certain assumptions of Siemens’ management, and
are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond
Siemens’ control, affect Siemens’ operations, performance, business strategy and results and could cause
the actual results, performance or achievements of Siemens to be materially different from any future
results, performance or achievements that may be expressed or implied by such forward-looking state-
ments. For Siemens, particular uncertainties arise, among others, from changes in general economic and
business conditions (including margin developments in major business areas and recessionary trends); the
possibility that customers may delay the conversion of booked orders into revenue or that prices will de-
cline as a result of continued adverse market conditions to a greater extent than currently anticipated by
Siemens’ management; developments in the financial markets, including fluctuations in interest and ex-
change rates, commodity and equity prices, debt prices (credit spreads) and financial assets generally;
continued volatility and a further deterioration of the capital markets; a worsening in the conditions of the
credit business and, in particular, additional uncertainties arising out of the subprime, financial market and
liquidity crises; future financial performance of major industries that Siemens serves, including, without
limitation, the Sectors Industry, Energy and Healthcare; the challenges of integrating major acquisitions
and implementing joint ventures and other significant portfolio measures; the introduction of competing
products or technologies by other companies; a lack of acceptance of new products or services by custom-
ers targeted by Siemens; changes in business strategy; the outcome of pending investigations and legal
proceedings and actions resulting from the findings of these investigations; the potential impact of such
investigations and proceedings on Siemens’ ongoing business including its relationships with govern-
ments and other customers; the potential impact of such matters on Siemens’ financial statements; as well
as various other factors. More detailed information about certain of the risk factors affecting Siemens is
contained throughout this report and in Siemens’ other filings with the SEC, which are available on the
Siemens website, www.siemens.com, and on the SEC’s website, www.sec.gov. Should one or more of these
risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may
vary materially from those described in the relevant forward-looking statement as expected, anticipated,
intended, planned, believed, sought, estimated or projected. Siemens does not intend or assume any obli-
gation to update or revise these forward-looking statements in light of developments which differ from
those anticipated.
 Managing Board statements, Independent auditors’ report, Additional information
95 Net assets position 97 Report on post-balance sheet date events
98 Risk report
108 Information required pursuant to
§315 (4) HGB of the German Commercial
Code and explanatory report
114 Compensation report
114 Report on expected developments