Siemens 2011 Annual Report Download - page 191

153 D. Consolidated Financial Statements
273 E. Additional information
143 C.2 Additional information for supplemental
financial measures
145 C. Siemens AG (Discussion on basis of
German Commercial Code)
151 C. Notes and forward-looking statements
140 C. Information required pursuant to Section  ()
and Section  () no.  of the German Commer-
cial Code (HGB) and explanatory report
142 C. Compensation report and Corporate Governance
statement pursuant to Section a of the German
Commercial Code (HGB)

Energy
Sector
Year ended September , % Change therein
(in millions of €)   Actual Adjusted  Currency Portfolio
Profit 4,141 , %
Profit margin 15.0% .%
New orders 34,765 , % % % %
Total revenue 27,607 , % % ()% %
External revenue 27,285 , %
therein:
Europe, C.I.S., Africa, Middle East 15,368 14,800 4%
therein Germany 2,041 2,118 (4)%
Americas 7,545 6,558 15%
Asia, Australia 4,371 3,847 14%
1 Excluding currency translation and portfolio effects. 2 Commonwealth of Independent States.
The Energy Sector delivered another strong operating perfor-
mance in fiscal , including excellent project execution at
Fossil Power Generation. Profit for the Sector rose to €4.141
billion, notwithstanding significant increases in spending for
R&D, marketing and selling associated with new technologies
and expansion of the Sector’s global footprint, particularly at
Renewable Energy and Power Distribution. Profit for the year
was positively influenced by the net effect related to Areva, in-
cluding the €. billion disposal gain and the negative €
million impact related to the arbitration decision mentioned
earlier. In contrast, profit was held back by impairment charg-
es totaling € million at the Sector’s solar business in the
fourth quarter, and by Energy ’s € million share of the spe-
cial employee remuneration allocation mentioned earlier.
Revenue in the Energy Sector rose % year-over-year, to
€. billion in fiscal , on increases in all Divisions and
conversion of the Sector’s strong order backlog. On a geo-
graphic basis, revenue rose in all regions, with double-digit
increases in the regions Americas and Asia, Australia. The
Sector’s order intake rose % compared to fiscal  on
broad-based growth in all Divisions. Fossil Power Generation
contributed the largest increase, driven by a higher volume
from major orders. On a geographic basis, strong growth in
emerging markets was the primary driver for higher orders in
all regions. 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. Based on the organizational struc-
ture as of September , , out of the current backlog, or-
ders of € billion are expected to be converted into revenue
during fiscal , orders of € billion during , and the
remainder in the periods thereafter.