Siemens 2011 Annual Report Download - page 376

6 A. To our shareholders 51 C. Combined management’s discussion and analysis 23 B. Corporate Governance

Five-year summary
Revenue and earnings (in millions of €) 2011 2010 2009 2008 2007
Revenue 73,515 68,978 70,053 69,577 64,238
Gross profit 22,127 20,001 19,120 18,979 18,561
Income from continuing operations 7,011 4,262 2,533 1,574 3,431
Net income 6,321 4,068 2,497 5,886 4,038
Assets, liabilities and equity (in millions of €) 2011 2010 2009 2008 2007
Current assets 52,813 50,179 44,087 43,486 48,314
Current liabilities  43,560 40,610 36,510 42,142 43,942
Debt 17,940 19,913 19,638 16,079 15,497
Long-term debt 14,280 17,497 18,940 14,260 9,860
Net debt (4,995) (5,560) (9,309) (9,034) (11,299)
Pension plans and similar commitments 7,307 8,464 5,938 4,361 2,780
Equity 32,156 29,096 27,287 27,380 29,627
as a percentage of total assets 31 28 29 29 32
Total assets 104,243 102,827 94,926 94,463 91,555
Cash flows (in millions of €) 2011 2010 2009 2008 2007
Net cash provided by operating activities 8,056 8,997 6,246 8,169 9,571
Amortization, depreciation and impairments 2,510 2,598 2,395 2,471 2,087
Net cash used in investing activities  (2,909) (2,315) (2,588) (9,082) (10,156)
Additions to intangible assets and property, plant and equipment  (2,171) (1,954) (2,159) (2,397) (3,110)
Net cash provided by (used in) financing activities (6,867) (2,826) (344) 3,935 (5,453)
Net increase (decrease) in cash and cash equivalents (1,715) 4,023 3,275 1,989 (5,274)
Free cash flow 5,885 7,043 4,087 5,773 6,461
Employees – continuing operations 2011 2010 2009 2008 2007
Employees (September 30, in thousands)  360 336 333 346 320
Key capital market data (in €, unless otherwise indicated) 2011 2010 2009 2008 2007
Earnings per share from continuing operations  7.82 4.72 2.70 1.60 3.61
Diluted earnings per share from continuing operations  7.73 4.67 2.67 1.60 3.49
Dividend per share 3.00 2.70 1.60 1.60 1.60
Siemens stock price 
High 99.38 79.37 66.45 108.86 111.17
Low 64.45 60.20 35.52 64.91 66.91
Year-end (September 30) 68.12 77.43 63.28 65.75 96.42
Siemens stock performance over prior year (in percentage points)
Compared to DAX index 2.17 15.53 2.24 (4.68) 11.72
Compared to MSCI World index (5.16) 18.53 1.86 (4.46) 21.56
Number of shares (in millions) 914 914 914 914 914
Market capitalization at period-end (in millions of €) 59,554 67,351 54,827 56,647 88,147
Credit rating of long-term debt
Standard & Poor’s A+ A+ A+ AA- AA-
Moody’s A1 A1 A1 A1 A1
1 OSRAM and Siemens IT Solutions and Services were classified as discontinued operations during fiscal 2011. Prior periods are presented on a comparable basis, using a simplified
approach for certain information for fiscal 2008 and fiscal 2007.
2 Changes in accounting pronouncements that were applied by Siemens in fiscal 2010 resulted in the reclassification of certain items. Fiscal years 2011 to 2008 are presented on a
comparable basis. Fiscal 2007 was not adjusted.
3 Net debt includes four line items of the Consolidated Statements of Financial Position: Cash and cash equivalents, current Available-for-sale financial assets, Short-term debt and
current maturities of long-term debt and Long-term debt.
4 Amortization and impairment of intangible assets other than goodwill and depreciation and impairment of property, plant and equipment.
5 Without temporary student workers and trainees. For information regarding personnel related costs see Note 35 to the Consolidated Financial Statements.
6 Dividend per share for fiscal 2011 as proposed to the Annual Shareholders‘ Meeting.
7 Xetra closing prices, Frankfurt.
8 Based on shares outstanding.
E.4 Five-year summary