Siemens 2011 Annual Report Download - page 104

Key figures fiscal 
, 
Capital efficiency
FY  FY 
Continuing operations
Return on capital employed (ROCE) (adjusted) 24.0% 13.4%
Continuing and discontinued operations 
Return on capital employed (ROCE) (adjusted) 20.7% 12.9%
Cash performance
FY  FY 
Continuing operations
Free cash flow 5,885 7,043
Cash conversion rate 0.84 1.65
Continuing and discontinued operations 
Free cash flow 5,150 7,013
Cash conversion rate 0.81 1.72
Liquidity and capital structure
September ,  September , 
Cash and cash equivalents 12,468 14,108
Total equity (Shareholders of Siemens AG) 31,530 28,346
Net debt 4,995 5,560
Adjusted industrial net debt (1,534) 2,189
Employees – in thousands
September ,  September , 
Cont.
Op. Total 
Cont.
Op. Total 
Employees 360 402 336 405
Germany 116 127 110 128
Outside Germany 244 275 225 277
Earnings
Total Sectors FY  FY  % Change
Adjusted EBITDA 10,299 9,680 6%
Total Sectors Profit  9,093 6,673 36%
in % of revenue (Total Sectors) 12.4% 9.8%
Continuing operations
Adjusted EBITDA 10,596 9,805 8%
Income from continuing operations 7,011 4,262 65%
Basic earnings per share (in €)  7.82 4.72 65%
Continuing and discontinued operations 
Net income 6,321 4,068 55%
Basic earnings per share (in €)  7.04 4.49 57%
Volume
FY  FY  % Change
Continuing operations Actual Adjusted 
New orders 85,582 74,055 16% 16%
Revenue 73,515 68,978 7% 7%
Free cash flow – continuing operations
FY  5,885
FY  7,043 (16)%
Revenue growth – continuing operations 
FY  73,515
FY  68,978 7%
New orders – continuing operations 
FY  85,582
FY  74,055 16%
ROCE (adjusted) – continuing operations
FY  24.0%
FY  13.4%
Target corridor:  – %
Basic earnings per share
(in €) – continuing operations 
FY  7.82
FY  4.72 65%
Income from continuing operations
FY  7,011
FY  4,262 65%
1 New orders; Adjusted or organic growth rates of revenue and new orders;
Total Sectors Profit; ROCE (adjusted); Free cash flow and cash conversion rate;
Adjusted EBITDA; Net debt and adjusted industrial net debt are or may be
non-GAAP financial measures. Definitions of these supplemental financial
measures, a discussion of the most directly comparable IFRS financial measures,
information regarding the usefulness of Siemens’ supplemental financial
measures, the limitations associated with these measures and reconciliations
to the most comparable IFRS financial measures are available on our Investor
Relations website under www.siemens.com/nonGAAP
2 October ,  – September , .
3 Adjusted for portfolio and currency translation effects.
4 Beginning with fiscal , central infrastructure costs which were formerly
reported in Corporate items are allocated primarily to the Sectors. The total
amount to be allocated is determined at the beginning of the fiscal year and
is charged in equal portions in all four quarters. Presentation of prior-year
information has been adjusted to conform to the current-year presentation.
5 Earnings per share – attributable to shareholders of Siemens AG. For fiscal
 and  weighted average shares outstanding (basic) (in thousands)
amounted to , and , shares, respectively.
6 Discontinued operations primarily consist of OSRAM, Siemens IT Solutions
and Services, the former Communication activities and Siemens VDO Auto-
motive.
7 Continuing and discontinued operations.
(in millions of €, except where otherwise stated)
Adjusted industrial net debt /
Adjusted EBITDA – continuing operations
FY  (0.14)
FY  0.22
Target corridor: . – .