WASHINGTON (Jan. 24, 2012)—Siemens AG announced a rather sluggish start into its FY2012.
"The uncertainties of the ongoing debt crisis have left their mark on the real economy. Our revenue increased again, while isolated project delays burdened profits. Although a recovery is expected in the second half of the year, we must work hard to achieve our goals," said Siemens AG CEO Peter Loescher.
Orders in the first quarter declined 4%, to approximately $25 billion on an adjusted basis and the order backlog reached approximately $130 billion. Revenue rose 3% on an adjusted basis to approximately $23 billion, with increases in all regions.
In the U.S., on an adjusted basis, sales were up 2% to approximately $4.8 billion and orders grew 6% to roughly $6 billion over the last quarter.
"We had a good start in our new fiscal year. America was the only region where we saw sales and order growth in the first quarter," said Eric Spiegel, president and CEO of Siemens Corporation.
In the U.S. Siemens was mainly focusing on the expansion of its capacities in the first quarter, which ended on December 30th, 2011. On November 16th, Siemens opened its newly expanded gas turbine factory in Charlotte, North Carolina. The company has invested more than $350 million in the 450,000-square-foot plant, creating around 700 new jobs so far.
Siemens AG (Berlin and Munich) produce electronics and electrical engineering, operating in the fields of industry, energy and healthcare, as well as providing infrastructure solutions, primarily for cities and metropolitan areas. The company is a provider of environmental technologies. Around 40 percent of its total revenue stems from green products and solutions. In fiscal 2011, which ended on September 30, 2011, revenue from continuing operations totaled EUR 73.5 billion and income from continuing operations EUR 7.0 billion. At the end of September 2011, Siemens had around 360,000 employees worldwide on the basis of continuing operations. Further information is available on the Internet at: http://www.siemens.com.