Siemens Aktiengesellschaft · XETR:SIE
Siemens Aktiengesellschaft — Siemens — Q2 2011 Earnings Presentation
17 slides from Siemens Aktiengesellschaft's earnings presentation, May 4, 2011
Slide 1: Outstanding broad-based growth
Outstanding broad-based growth Peter Löscher, President and CEO Joe Kaeser, CFO Q2 FY 11 Analyst call May 4, 2011 Page 1 Q2 FY 2011, Analyst Call, May 4, 2011 Copyright © Siemens AG 2011. All rights reserved.
Slide 2: Safe Harbour Statement
Safe Harbour Statement This document contains forward-looking statements and information – that is, statements related to future, not past, events. These statements may be identified by words such as “expects,” “looks forward to,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,”
Slide 3: Key takeaways
Key takeaways Strong operational Q2 performance Broad based growth with particular strength in emerging markets Large order wins from major customers along entire Energy value chain Early cycle businesses in Industry and Fossil Power Generation drive profit improvement Weaker free cash flow
Slide 4: Profit driven by higher volume and gain from sale of Areva NP stake
Profit driven by higher volume and gain from sale of Areva NP stake Siemens (continuing operations), in €m Q2 FY 101) Q2 FY 11 Change New orders 16,166 20,651 27%2) Revenue 16,523 17,717 6%2) Book-to-bill 0.98x 1.17x Profit Total Sectors 1,849 3,6953) 100% Income from continuing operations 1,427 3,1
Slide 5: Strong backlog going into H2 2011
Strong backlog going into H2 2011 Strong order backlog 1) Major order wins in Q2 €bn Industry: 92 92 26 35 metro trains for Warsaw – biggest order 11 ever for Siemens in Poland Industry 29 29 Energy: 13 66 Supply of components for Ras Az Zawr power 3 plant (Saudi Arabia), order volume > $1bn 18
Slide 6: Strong revenue growth in Americas and China
Strong revenue growth in Americas and China Q2 FY11 Order growth y-o-y1) Q2 FY11 Orders Revenue Profit y-o-y1) y-o-y1) margin Europe/C.I.S./Africa/ME +33% Siemens 27% 6% (therein Germany) +79% Industry 20% 8% 10.5% Americas +13% Industry Automation 20% 19% 17.5% (therein USA) +15% Drive Technologies
Slide 7: One Siemens cockpit – Performance on track
One Siemens cockpit – Performance on track Financial target system Growth1) Margins compared to industry benchmarks Revenue growth (rolling 4 quarters Q2 FY 2011) EBITDA Margins (H1 FY 2011) Industry 13.2% 10-15% Siemens 7.6% Energy 14.8% 10-15% -0.8% Competitors1) 8.4% Healthcare 18.4% 15-20% EBITD
Slide 8: Outlook 2011
Outlook 2011 We expect organic order intake to show a significant increase compared to fiscal 2010. Supported also by our already strong order backlog, we expect mid- single-digit organic revenue growth in fiscal 2011. Income from continuing operations to be at least €7.5 billion. This outlook
Slide 9: Financial calendar
Financial calendar May May 4, 2011 Q2 financial report and analyst conference call May 17, 2011 EPG Conference (Florida) May 19, 2011 Deutsche Bank German and Austrian Corporate Conference (Frankfurt) May 31, 2011 French Roadshow (Paris) June June 1, 2011 Swiss Roadshow (Zurich) June 9, 2011 JP Morg
Slide 10: Siemens investor relations contact data
Siemens investor relations contact data Mariel von Drathen +49-89-636-33780 Munich Office +49-89-636-32474 Internet: http://www.siemens.com/investorrelations Email: [email protected] Fax: +49-89-636-32830 Page 10 Q2 FY 2011, Analyst Call, May 4, 2011 Copyright © Siemens AG 2011. All righ
Slide 11: Reconciliation and Definitions for Non-GAAP Measures (I)
Reconciliation and Definitions for Non-GAAP Measures (I) To supplement Siemens’ Consolidated Financial Statements presented in accordance with International Financial Reporting Standards, or IFRS, Siemens presents the following supplemental financial measures: New orders and order backlog; Adjus
Slide 12: Reconciliation and Definitions for Non-GAAP Measures (II)
Reconciliation and Definitions for Non-GAAP Measures (II) New orders and order backlog (continued) Order backlog represents an indicator for the future revenues of our Company resulting from already recognized new orders. Order backlog is calculated by adding the new orders of the current fiscal yea
Slide 13: Reconciliation and Definitions for Non-GAAP Measures (III)
Reconciliation and Definitions for Non-GAAP Measures (III) Return on equity (after tax), or ROE (after tax) In line with common practice in the financial services industry, Financial Services, or SFS uses return on equity (after tax), or ROE (after tax), as one of its key (after tax) profitability m
Slide 14: Reconciliation and Definitions for Non-GAAP Measures (IV)
Reconciliation and Definitions for Non-GAAP Measures (IV) Free cash flow and cash conversion rate Siemens defines Free cash flow as Net cash provided by (used in) operating activities less Additions to intangible assets and property, plant and equipment. The IFRS financial measure most directly comp
Slide 15: Reconciliation and Definitions for Non-GAAP Measures (V)
Reconciliation and Definitions for Non-GAAP Measures (V) Adjusted EBITDA margins at the Sector level Siemens defines adjusted EBITDA margins on the Sector level as the ratio of adjusted EBITDA to revenue (as presented in the “Notes to Consolidated Financial Statements”). Siemens intends to maintain
Slide 16: Reconciliation and Definitions for Non-GAAP Measures (VI)
Reconciliation and Definitions for Non-GAAP Measures (VI) Limitations on the usefulness of Siemens’ supplemental financial measures The supplemental financial measures reported by Siemens may be subject to limitations as analytical tools. In particular: With respect to new orders and order backlog
Slide 17: Revenue growth - Performance against competition
Revenue growth - Performance against competition Definition Revenue growth - Performance against competition To illustrate management’s perspective on the Company’s performance against competition, Siemens compares its own revenue growth rate with the weighted average revenue growth rate of its Sect