UPDATE: Siemens AG (SI) Revs Rose 7% in FY12; Net Income Fell 27.4%
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(Updated - January 14, 2013 11:18 AM EST)
Siemens AG (NYSE: SI) FY12 revs rose 7 percent to €78.3 billion. Net income fell 27.4 percent to €4.590 billion.
New orders came in near the level of revenue but 10 percent lower compared to the prior year.
Free cash flow from continuing operations declined to €4.790 billion, down 19% year-over-year.
CEO Peter Löscher commented, "Fiscal 2012 was not an easy year for us. Even though we achieved one of our best results ever – despite the difficult economic environment worldwide – we didn’t fully attain our goals of outperforming the market and our competitors. To move forward, we’ve launched a new Company-wide program. Presented in November 2012, the initiative will enable us to make effective, concrete adjustments in our operations – changes we’ll have to make if we’re to continue generating profitable growth of the kind we’ve achieved in the last few years. For my colleagues on the Managing Board and myself, the trust that you’ve placed in our Company is an invaluable source of support.
"All in all, Siemens is well positioned to seize the opportunities of the future – as we demonstrated again in fiscal 2012. Continuing a decade of substantially improved performance, we posted a 7% increase in revenue and generated €5.2 billion in income from continuing operations, one of our largest profits ever. I would like to thank Siemens employees around the world for their commitment and their contribution to this success. The unchanged dividend proposal of €3.00 that the Managing Board and the Supervisory Board will make to the 2013 Annual Shareholders’ Meeting is also a sign of trust and continuity. We want you to profit from the positive developments at our Company – and we want you to continue placing your trust in us. Because Siemens is and will remain a strong company."
Siemens AG (NYSE: SI) FY12 revs rose 7 percent to €78.3 billion. Net income fell 27.4 percent to €4.590 billion.
New orders came in near the level of revenue but 10 percent lower compared to the prior year.
Free cash flow from continuing operations declined to €4.790 billion, down 19% year-over-year.
CEO Peter Löscher commented, "Fiscal 2012 was not an easy year for us. Even though we achieved one of our best results ever – despite the difficult economic environment worldwide – we didn’t fully attain our goals of outperforming the market and our competitors. To move forward, we’ve launched a new Company-wide program. Presented in November 2012, the initiative will enable us to make effective, concrete adjustments in our operations – changes we’ll have to make if we’re to continue generating profitable growth of the kind we’ve achieved in the last few years. For my colleagues on the Managing Board and myself, the trust that you’ve placed in our Company is an invaluable source of support.
"All in all, Siemens is well positioned to seize the opportunities of the future – as we demonstrated again in fiscal 2012. Continuing a decade of substantially improved performance, we posted a 7% increase in revenue and generated €5.2 billion in income from continuing operations, one of our largest profits ever. I would like to thank Siemens employees around the world for their commitment and their contribution to this success. The unchanged dividend proposal of €3.00 that the Managing Board and the Supervisory Board will make to the 2013 Annual Shareholders’ Meeting is also a sign of trust and continuity. We want you to profit from the positive developments at our Company – and we want you to continue placing your trust in us. Because Siemens is and will remain a strong company."
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