Siemens Aktiengesellschaft · XETR:SIE

Siemens Aktiengesellschaft — Siemens — Q4 FY2007 Earnings Presentation

14 slides from Siemens Aktiengesellschaft's earnings presentation, November 2007

1. Slide 1: Siemens Q4 FY07 Flashlight

   Siemens Q4 FY07 Flashlight The Annual Analyst Conference will take place in London, on November 9, at 11 a.m. UK time, and will be webcast on www.siemens.com/investorrelations The Press Conference will take place in Munich, on November 8, at 10 a.m. CET, and will be webcast on www.siemens.com/press

2. 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,”

3. Slide 3: Highlights

   Highlights ƒ Announced €10bn share buyback by 2010 – Leverage target of 0.8x – 1.0x adjusted industrial net debt/ EBITDA by 2010 – Current leverage after adjustments at -0.1x ƒ Expect comments on margin targets ƒ Q4 Group Profit from Operations of €1.990 bn – Outperforms strong Q2 result of this yea

4. Slide 4: We enhanced the transparency of our disclosure ... more to come!

   We enhanced the transparency of our disclosure ... more to come! GROUP PROFIT ƒ Bridge from Group Profit to EBIT and EBITDA ƒ Disclosure of Equity Investment Income by Group EBIT ƒ Disclosure of Financial Interest included in Group Profit by Group EBITDA ƒ (D&A as reported in the Segment Reporting)

5. Slide 5: Key Items from the Earnings Release relating to Q4 (I)

   Key Items from the Earnings Release relating to Q4 (I) Operating Businesses Operating Businesses (Continued) ƒ A&D ƒ SIS – €(63)m PPA and €(12)m integration costs (Flender, UGS) – Q4 06: Includes €(180)m severance charges – 170 bps effect on the group profit margin – FY 06: Includes €(576)m severanc

6. Slide 6: Key Items from the Earnings Release relating to Q4 (II)

   Key Items from the Earnings Release relating to Q4 (II) Central Items, Pensions & Eliminations Discontinued Operations ƒ Central items, pensions & eliminations: costs of €(451)m ƒ Total loss: €(1,468)m – Corporate items of €(484)m, of which €(85)m investigation ƒ SV activities: €(861)m negative resu

7. Slide 7: Overview of Quarterly Numbers by Group – Orders

   Overview of Quarterly Numbers by Group – Orders Page 7 Annual Analyst Conference 2007 Copyright © Siemens AG 2007. All rights reserved.

8. Slide 8: Overview of Quarterly Numbers by Group - Revenues

   Overview of Quarterly Numbers by Group - Revenues Page 8 Annual Analyst Conference 2007 Copyright © Siemens AG 2007. All rights reserved.

9. Slide 9: Overview of Quarterly Numbers by Group - Profitability

   Overview of Quarterly Numbers by Group - Profitability Percentage values for SFS show return on equity. Page 9 Annual Analyst Conference 2007 Copyright © Siemens AG 2007. All rights reserved.

10. Slide 10: Bridge from NSN Operating Profit to Siemens At Equity Income

    Bridge from NSN Operating Profit to Siemens At Equity Income EUR in millions 110 -86 Reported by Nokia Siemens share -32 -26 -58 50% -65 -144 -120 55 NSN Charges Purchase- NSN Adjust- NSN Net Siemens Siemens Siemens Operating Price Operating ments1) Income Share pre PPA Equity Profit pre Retailed Pr

11. Slide 11: Siemens Investor Relations Team

    Siemens Investor Relations Team Michael Sen +49-89-636-33780 Florian Flossmann +49-89-636-34095 Sabine Groß +49-89-636-35755 Irina Pchelova +49-89-636-33693 Christof Schwab +49-89-636-32677 Dr. Gerd Venzl +49-89-636-44144 Susanne Wölfinger +49-89-636-30639 Webpage: http://www.siemens.com/investorrel

12. Slide 12: Reconciliation and Definitions for Non-GAAP Measures (I)

    Reconciliation and Definitions for Non-GAAP Measures (I) Group profit from Operations is reconciled to Income before income taxes of Operations under Reconciliation to financial statements on the table Segment Information. See our Financial Publications at our Investor Relations website under www.si

13. Slide 13: Reconciliation and Definitions for Non-GAAP Measures (II)

    Reconciliation and Definitions for Non-GAAP Measures (II) Average calculation for CE*: Year-to-Date Q1 2 Point average: (CE ending Q4 Prior year + CE ending Q1) / 2 Q2 3 Point average: (CE ending Q4 Prior year + CE ending Q1 + CE ending Q2) / 3 Q3 4 Point average: (CE ending Q4 Prior year + CE endin

14. Slide 14: Reconciliation and Definitions for Non-GAAP Measures (III)

    Reconciliation and Definitions for Non-GAAP Measures (III) Our capital structure target is based on an Adjusted industrial net debt divided by EBITDA (adjusted). For the calculation of Adjusted industrial net debt, we subtract from Net debt (defined as Long-term debt plus Short-term debt and current

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