Siemens 2011 Annual Report Download - page 245

153 D. Consolidated Financial Statements
273 E. Additional information
143 C. 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)

The management report of Siemens AG and the manage-
ment’s discussion and analysis for fiscal  have been com-
bined pursuant to Section  () in conjunction with Section
 () of the German Commercial Code. The annual financial
statements of Siemens AG in accordance with the German
Commercial Code and the combined management’s discus-
sion and analysis are published simultaneously in the elec-
tronic version of the German Federal Gazette.
C.. Business and
operating environment
Siemens AG is the parent company of the Siemens Group with
registered offices in Berlin and Munich. Siemens AG is a glob-
ally operating, integrated technology company with core ac-
tivities in the Sectors of Industry, Energy and Healthcare. Ad-
ditional operating activities include Siemens Real Estate and
Corporate Treasury. In Siemens Real Estate we have bundled
our entire real estate portfolio. Siemens AG had approximately
, employees and reported revenue of €. billion in
fiscal . In fiscal  we derived % of our revenues in
Germany. During fiscal , Siemens initiated a change in
the organizational structure of the Sectors which became ef-
fective October , . Beginning with fiscal , Siemens
formed a fourth Sector, Infrastructure & Cities, in order to ben-
efit from the growth of urban centers and the demand for in-
frastructure solutions.
The Siemens Sectors are global entrepreneurs and have end-
to-end business responsibility worldwide. Siemens AG holds
 legal entities, including non-controlling interests.
Siemens AG and its results also comprise the corporate head-
quarter functions of Siemens, including the units responsible
for corporate development, finance and controlling, commu-
nications, government affairs, human resources, legal and
compliance, technology, information technology, data protec-
tion, security office, supply chain management and the sus-
tainability office.
The operating environment for Siemens AG is largely the
same as for the Siemens Group and is described in detail in
C.. Economic environment.
C.. Orders and revenue
Revenue increased % year-over-year, to €. billion. This
increase was due primarily to the recovering environment
for
Siemens businesses, particularly in the Industry Sector.
Year ended September ,
(in millions of €)  
Industry 15,168 13,606
Energy 10,031 9,866
Healthcare 4,179 3,938
Siemens IT Solutions and Services –1,208
Siemens Real Estate 980 889
Less internal revenue (889) (1,293)
29,469 28,214
Customers in Germany accounted for % of revenue, the
same proportion as in fiscal . Exports accounted for %
in both fiscal years. The reporting region comprising Europe
(excluding Germany), C.I.S., Africa and Middle East accounted
for % of total revenue in fiscal , compared to % in fis-
cal . The Asia, Australia region accounted for % of total
revenue in fiscal , compared to % in fiscal . The
Americas region accounted for % of total revenue in both fis-
cal years.
In fiscal , new orders for Siemens AG amounted to €.
billion, a substantial increase of % from €. billion in fis-
cal .
C. Siemens AG (Discussion on basis of
German Commercial Code (HGB))