Siemens 2011 Annual Report Download - page 192

6 A. To our shareholders
23 B. Corporate Governance 51 C. Combined management’s discussion and analysis
52 C. Business and operating environment
80 C.2 Fiscal  – Financial summary
83 C. Results of operations
101 C. Financial position
114 C. Net assets position
117 C. Overall assessment of the economic position
118 C. Report on post-balance sheet date events
119 C. Report on expected developments and
associated material opportunities and risks
135 C. Information required pursuant to Section  ()
and Section  () of the German Commercial
Code (HGB) and explanatory report

Profit and Profit margin by Divisions
Profit Profit margin
Year ended September , Year ended September ,
(in millions of €)   % Change  
Fossil Power Generation 2,833 1,445 96% 27.8% 15.1%
Renewable Energy (2) 343 n /a 0.0% 10.5%
Oil & Gas 467 455 3% 9.9% 10.9%
Power Transmission 562 715 (21)% 8.9% 11.6%
Power Distribution 286 398 (28)% 9.0% 13.1%
Revenue by Divisions
Year ended September , % Change therein
(in millions of €)   Actual Adjusted  Currency Portfolio
Fossil Power Generation 10,203 9,550 7% 8% (1)% 0%
Renewable Energy 3,932 3,272 20% 24% (4)% 0%
Oil & Gas 4,719 4,156 14% 12% 1% 1%
Power Transmission 6,334 6,143 3% 4% 0% 0%
Power Distribution 3,175 3,039 4% 4% 0% 0%
1 Excluding currency translation and portfolio effects.
New orders by Divisions
Year ended September , % Change therein
(in millions of €)   Actual Adjusted  Currency Portfolio
Fossil Power Generation 12,487 9,920 26% 26% (1)% 0%
Renewable Energy 6,884 5,929 16% 17% (1)% 0%
Oil & Gas 5,551 4,943 12% 10% 2% 1%
Power Transmission 7,271 6,770 7% 8% 0% 0%
Power Distribution 3,397 3,231 5% 5% (1)% 0%
1 Excluding currency translation and portfolio effects.
In fiscal , Fossil Power Generation recorded profit of
€. billion, representing a substantial increase compared
to the prior year. The Division maintained its strong perfor-
mance in project execution throughout the fiscal year, and al-
so benefited from a more favorable business mix year-over-
year, including conversion of high-margin component orders
and a strong contribution from the service business. Reported
profit also benefited from the net effect related to Areva men-
tioned above for the Sector, partly offset by project charges of
€ million in the second quarter of fiscal  related to the
Olkiluoto project in Finland. A year earlier, profit for the Divi-
sion was held back by charges of € million for capacity ad-
justments related to a shift of production capacity within the
Americas region. Orders for fiscal  climbed % from a rel-
atively low basis of comparison in the prior year, driven by
strong demand in emerging markets and a substantially high-
er volume from major orders. Revenue rose % year-over-year,
including a double-digit increase in the Americas region.
Revenue at Renewable Energy increased significantly by %
in fiscal , as the Division continued to convert orders from
its large order backlog. New orders were % higher than in
the prior year, driven by strong growth in the Europe, C.I.S.,
Africa, Middle East region. The Division continued to take in
large wind-farm orders from Europe and the U.S. and also won
its first order from China – the world’s largest national wind-