Siemens 2014 Annual Report Download - page 193

247 D. Consolidated Financial Statements
337 E. Additional Information
213 C. Overall assessment of the economic position
214 C. Subsequent events
215 C. Sustainability and citizenship
225 C. Report on expected developments and
associated material opportunities and risks
242 C. Compensation Report and legal disclosures
242 C. Siemens AG (Discussion on basis
of German Commercial Code)

C.. Orders and revenue by region
Orders for fiscal  totaled € . billion, and revenue came
in at € . billion. Both represented a  % decrease year-over-
year, due in part to unfavorable currency translation effects.
The resulting book-to-bill ratio was . for Siemens in fiscal
. On a comparable basis, excluding currency translation
and portfolio effects, orders and revenue both grew  % year-
over-year.
The order backlog (defined as the sum of order backlogs of the
Sectors) was €  billion as of September , , up from
€  billion a year earlier.
Orders (location of customer)
Year ended
September ,
% Change therein
  Actual
Compa-
rable 
Cur-
rency
Port -
folio(in millions of €)
Europe, C.I.S.,
Africa, Middle East 41,542 43,889 (5)% (4)% (1)% 0%
therein Germany 10,986 11,616 (5)% (5)% 0% 0%
Americas 20,880 21,070 (1)% 4% (5)% 1%
therein U.S. 14,842 13,592 9% 11% (3)% 1%
Asia, Australia 15,929 14,796 8% 12% (4)% 0%
therein China 6,641 6,053 10% 12% (2)% 0%
Siemens 78,350 79,755 (2)% 1% (3)% 0%
1 Excluding currency translation and portfolio effects.
2 Commonwealth of Independent States.
Orders related to external customers in fiscal  decreased
 %, largely due to a moderate decline in Infrastructure & Cities
where prior-year orders included a € . billion contract for
trains and maintenance in the U.K. Slight decreases in Health-
care and Energy were only partially offset by order growth in
Industry.
In the region Europe, C.I.S., Africa, Middle East, the decline
in orders was due mainly to a double-digit decrease in Infra-
structure & Cities caused by a lower volume from large orders
compared to a year earlier. Orders came in slightly lower in
the Americas, despite  % order growth in the U.S. Key growth
drivers here included Siemens’ largest-ever order for light rail
vehicles in the U.S. and a rebound in the U.S. wind business
after a sharp drop in the previous year. Clear order growth in
Asia, Australia was due in part to a higher volume from large
orders in Energy. In addition, China contributed to the regional
development with a sharp increase in Infrastructure & Cities
and double-digit order growth in Industry.
On a global basis, orders from emerging markets, as these mar-
kets are defined by the International Monetary Fund, remained
level year-over-year, and accounted for € . billion, or  %,
of total orders for fiscal . Comparable order growth in
emerging markets was  % year-over-year.
Revenue (location of customer)
Year ended
September ,
% Change therein
  Actual
Compa-
rable 
Cur-
rency
Port -
folio(in millions of €)
Europe, C.I.S.,
Africa, Middle East 38,732 39,390 (2)% (1)% (1)% 0%
therein Germany 10,857 10,652 2% 2% 0% 0%
Americas 18,756 19,644 (5)% 0% (5)% 0%
therein U.S. 12,876 13,110 (2)% 1% (3)% 1%
Asia, Australia 14,433 14,411 0% 4% (4)% 0%
therein China 6,442 5,866 10% 12% (2)% 0%
Siemens 71,920 73,445 (2)% 1% (3)% 0%
1 Excluding currency translation and portfolio effects.
2 Commonwealth of Independent States.
Revenue related to external customers declined  % com-
pared to fiscal . Clear revenue growth year-over-year in
Infra structure & Cities resulting from the continuing execution
of large rolling-stock projects, was more than offset by a clear
decline in Energy, which saw revenue fall in many of its
businesses and in all three reporting regions. Industry revenue
came in near the prior-year level and Healthcare reported
a slight decline, both including unfavorable currency trans-
lation effects.
While revenue in Asia, Australia came in near the prior-year
level, it included double-digit revenue growth in China that
resulted from a sharp increase in Infrastructure & Cities and a
solid contribution from Industry. In the Americas, revenue was
lower year-over-year in all Sectors, due in part to currency trans-
lation headwinds as mentioned above. A double-digit decrease
in Energy revenue in Europe, C.I.S., Africa, Middle East more
than offset clear growth in Infrastructure & Cities. Emerging
markets reported a  % decline compared to fiscal  and
accounted for € . billion, or  %, of total revenue in fiscal
. Comparable revenue growth in emerging markets was  %
year-over-year.
C. Results of operations