Siemens 2010 Annual Report Download - page 205

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

within Equity Investments in which Siemens AG is a direct
shareholder include Nokia Siemens Networks B.V. (NSN), BSH
Bosch und Siemens Hausgeräte GmbH (BSH), Enterprise Net-
works Holding, B.V. (EN), and GIG Holding GmbH (formerly
ARQUES Value Development GmbH).
Real estate assets belonging to Siemens are managed by the
Siemens Real Estate (SRE) unit and leased to the segments.
The group head office with the central corporate units respon-
sible for corporate development, finance and controlling, com-
munications, technology, information technology and procure-
ment, together with the sustainability department, also forms
part of Siemens AG and is included in its financial data.
The economic environment is largely the same as for the group
and is described in detail in “Business and operating environ-
ment – Economic environment.”
ORDER SITUATION AND REVENUE
In fiscal , Siemens AG generated revenue of €. billion,
a year-over-year increase of % compared to €. billion in
fiscal . This increase was due primarily to improvement in
the business environment as well as effects from merging
certain subsidiaries with Siemens AG, primarily Flender AG
and Siemens Building Technologies GmbH & Co. oHG, both in
the Industry Sector.
Revenue Siemens AG
Year ended September ,
(in millions of €)  
Industry 13,606 11,519
Energy 9,866 9,354
Healthcare 3,938 3,839
Siemens IT Solutions and Services 1,208 1,381
Siemens Real Estate 889 809
less internal revenue (1,293) (1,023)
28,214 25,879
Customers in Germany accounted for % of revenue, up from
% in fiscal . Exports accounted for % and % in fiscal
 and , respectively. The region comprising Europe
(excluding Germany), C.I.S., Africa and Middle East accounted
for % of total revenue in fiscal , compared to % in fis-
cal . Asia, Australia accounted for  percent of total rev-
enue in fiscal , compared to % in fiscal . The
Americas accounted for % compared to % in fiscal .
The following table shows the breakdown of Siemens AG rev-
enue by region:
Revenue Siemens AG – by region
Year ended September ,
(in millions of €)  
Europe, C.I.S., Africa, Middle East 19,702 18,057
thereof Germany 8,848 7,636
Americas 2,625 2,553
thereof USA 1,689 1,855
Asia, Australia 5,887 5,269
thereof China 2,440 2,159
thereof India 501 857
28,214 25,879
1 Commonwealth of Independent States
In fiscal , new orders for Siemens AG amounted to €. bil-
lion, a decrease of less than % from €. billion in fiscal .
RESULTS OF OPERATIONS
In fiscal , Siemens AG revenue reached €., up % com-
pared to €. billion in the prior year. Cost of sales did not
increase proportionally, due to volume-driven economies of
scale. As a result, gross profit increased by € million and
gross profit margin climbed to .% from .% in fiscal .
Condensed income statement for Siemens AG
Year ended September ,
(in millions of €)  
Revenue 28,214 25,879
Cost of sales (20,812) (19,454)
Gross profit on sales 7,402 6,425
Research and development expenses (2,311) (2,362)
Marketing, selling and general
administrative expenses (3,698) (2,959)
Other operating income (expense), net (101) (363)
Financial income (expense), net
thereof income from investments
3,596 (prior year 1,601) 2,992 1,229
Result from ordinary operations 4,284 1,970
Extraordinary result (1,652) –
Income taxes (71) (179)
Net income 2,561 1,791
Accumulated profit 75 83
Allocation to retained earnings (168) (411)
Unappropriated net income 2,468 1,463