Siemens 2014 Annual Report Download - page 194

108 A. To our Shareholders 131 B. Corporate Governance 171 C. Combined Management Report
172 C. Business and economic environment
187 C. Financial performance system
193 C. Results of operations
205 C. Financial position
210 C. Net assets position

C.. Segment information analysis
C... ENERGY
Sector
Year ended September , % Change therein
(in millions of €)   Actual Comparable  Currency Portfolio
Profit 1,569 1,955 (20)%
Profit margin 6.4% 7.3%
Orders 28,646 28,797 (1)% 4% (3)% (1)%
Total revenue 24,631 26,638 (8)% (3)% (3)% (1)%
External revenue 24,380 26,425 (8)%
therein:
Europe, C.I.S., Africa, Middle East 12,766 14,382 (11)%
therein Germany 2,507 2,246 12%
Americas 7,013 7,155 (2)%
Asia, Australia 4,601 4,888 (6)%
1 Excluding currency translation and portfolio effects. 2 Commonwealth of Independent States.
Energy Sector profit of € . billion in fiscal  was down
significantly compared to a year earlier, due mainly to continu-
ing profitability challenges including a revenue decline and a
less favorable business mix. Both periods included substantial
burdens on profit. In the current period, the impacts included
€  million in charges at Power Transmission and €  mil-
lion in charges at Wind Power. Burdens on Sector profit a year
ago included €  million in charges for the “Siemens ”
program, a loss of €  million at Siemens’ solar activities,
€  million in charges at Power Transmission, among others,
€  million in charges related to onshore wind turbine blades
and €  million in charges related to compliance with sanc-
tions on Iran at Power Generation. The Power Generation Divi-
sion increased its profit year-over-year, benefiting from a gain
on the sale of the Division’s turbo fan business and a positive
effect from a successful project completion. Power Trans-
mission posted a sharply higher loss year-over-year, and Wind
Power reported a loss compared to a profit in fiscal .
Revenue for the Sector came in  % lower than a year ago on
decreases in all three reporting regions, reflecting weak order
development at Power Generation and selective order intake at
Power Transmission in the past. Power Generation and Power
Transmission posted revenue declines compared to the prior
year, while Wind Power clearly increased its revenue. Orders
for the Sector came in  % lower than in the prior year. On a
regional basis, an increase in the Asia, Australia reporting
region was more than offset by a decline in the Americas.
Negative currency translation effects took three percentage
points from both revenue and order development during the
year. The book-to-bill ratio for Energy was ., and its order
backlog was €  billion at the end of the fiscal year. Out of the
order backlog as of September , , orders of €  billion
are expected to be converted into revenue in fiscal  and the
remainder in the periods thereafter.
Orders and revenue by quarter (in millions of €)
Orders Revenue Book-to-bill ratio
Q  20,733 Q  20,621 1.01
Q  19,284 Q  17,692 1.09
Q  18,027 Q  16,865 1.07
Q  20,306 Q  16,742 1.21
Q  20,298 Q  20,559 0.99
Q  19,928 Q  18,363 1.09
Q  20,761 Q  17,226 1.21
Q  18,767 Q  17,297 1.09