Siemens 2010 Annual Report Download - page 155

113 Report on post-balance sheet date events
114 Report on expected developments and associated
material opportunities and risks
128 Information required pursuant to § () and
§ () HGB and explanatory report
133 Information required pursuant to § () and
§ () no.  HGB and explanatory report
135 Compensation and declaration pursuant to §a HGB
135 Additional information for supplemental
financial measures
138 Siemens AG (Discussion on basis of HGB)
147 Consolidated Financial Statements
261 Additional information

Energy
The Energy Sector executed particularly well in fiscal ,
increasing Sector profit % year-over-year, to €. billion,
despite a slight decline in full-year revenue compared to fiscal
 and increased expenses for R&D, marketing and selling
associated with growth in the second half of fiscal . Profit
growth came primarily from Fossil Power Generation, due
mainly to strong project execution and a more favorable reve-
nue mix, and to a lesser extent from Power Transmission. The
Sector’s other Divisions each posted a modest profit decline
year-over-year.
Market conditions for Energy were difficult in the first half of
the current fiscal year, as customer postponements of large
infrastructure projects that began in fiscal  continued into
fiscal . Conditions improved in the second half, particu-
larly including a strong pick-up in major orders. As a result,
fiscal  orders for the Sector came in just above the prior-
year level, at €. billion. Orders climbed at all Divisions
except Fossil Power Generation, which saw significantly lower
volume from major orders in the first three quarters of the fis-
cal year. On a geographic basis, higher orders in the Americas
and Asia, Australia offset lower demand in Europe, C.I.S., Afri-
ca, Middle East. Revenue of €. billion was % lower than
the fiscal  level, as a double-digit increase in revenue at
Renewable Energy nearly offset declines in the other Divisions.
On a geographic basis, revenue was up slightly in Europe,
C.I.S., Africa, Middle East, level in the Americas and lower in
Asia, Australia. On a book-to-bill ratio of ., the Sector’s order
backlog rose to € billion at the end of fiscal , up from
€ billion a year earlier. Out of the current backlog, orders of
€ billion are expected to be converted into revenue during
fiscal , orders of € billion during , and the remainder
in the periods thereafter.
Sector
Year ended September , % Change therein
(in millions of €)   Actual Adjusted  Currency Portfolio
Profit 3,562 3,315 7%
Profit margin 14.0% 12.9%
New orders 30,122 30,076 0% (2)% 2% 0%
Total revenue 25,520 25,793 (1)% (4)% 2% 0%
External revenue 25,204 25,405 (1)%
therein:
Europe, C.I.S., Africa, Middle East 14,800 14,715 1%
therein Germany 2,118 1,905 11%
Americas 6,558 6,552 0%
Asia, Australia 3,847 4,138 (7)%
1 Excluding currency translation and portfolio effects. 2 Commonwealth of Independent States
New Orders by Divisions
Year ended September , % Change therein
(in millions of €)   Actual Adjusted  Currency Portfolio
Fossil Power Generation 9,920 12,135 (18)% (20)% 2% 0%
Renewable Energy 5,929 4,823 23% 22% 1% 0%
Oil & Gas 4,943 4,450 11% 7% 4% 0%
Power Transmission 6,770 6,324 7% 5% 2% 0%
Power Distribution 3,231 3,018 7% 4% 3% 0%
1 Excluding currency translation and portfolio effects.