Siemens Aktiengesellschaft · XETR:SIE
Siemens Aktiengesellschaft — Siemens — 2012 Exane BNP Paribas Conference
22 slides from Siemens Aktiengesellschaft's conference presentation, Jun 13, 2012
Slide 1: Well positioned to achieve One Siemens framework
Well positioned to achieve One Siemens framework Joe Kaeser, CFO 2012 Exane BNP Paribas conference Paris June 13, 2012 Page 1 Exane BNP Paribas conference June 13, 2012 Copyright © Siemens AG 2012. All rights reserved.
Slide 2: Safe Harbour Statement
Safe Harbour Statement This document includes supplemental financial measures that are or may be non-GAAP financial measures. New orders and order backlog; adjusted or organic growth rates of revenue and new orders; book-to-bill ratio; Total Sectors profit; return on equity (after tax), or ROE (afte
Slide 3: Long term market drivers for Siemens businesses are fully intact
Long term market drivers for Siemens businesses are fully intact Demographic Climate change Globalization Urbanization change Attractive markets driven by megatrends Infrastruc- Energy Healthcare Industry ture & Cities €25bn €13bn €20bn €17bn €xbn Sales in FY 11 Book-to-bill ratio per quarter €xbn O
Slide 4: Continued R&D investment to foster innovation
Continued R&D investment to foster innovation Innovations secure market leadership R&D investment (Examples) R&D intensity (€bn) # of granted patents TIA Portal Magnetom Spectra +12% +14% +4% 2.1 51,400 53,300 1.8 1.6 5.2% 5.5% 5.0% Standard tool for 3 Tesla MR for cost automation engineering sensit
Slide 5: Natural gas – The fuel of choice in the 21st century
Natural gas – The fuel of choice in the 21st century Increasing reservoirs Lowest emissions Advanced technology Shale gas can make the United Lowest CO2 emission of all fossil Gas-fired combined-cycle power States a net exporter of gas by fuels. plants have reached the highest doubling its res
Slide 6: Well prepared to meet increased demand for efficient and flexible power generation
Well prepared to meet increased demand for efficient and flexible power generation Successful market entry: SGT5 – 8000H Expansion of global gas turbine network Completion of most modern GT plant in Charlotte – investment of $350m by end of 2011 GT combustion test center in Ludwigsfelde (Berlin) unt
Slide 7: Significant investments in footprint and localization to drive further growth in Emerging Markets
Significant investments in footprint and localization to drive further growth in Emerging Markets Siemens in EM1) Revenue in €bn Russia +11% 21.8 24.1 Middle East 58 4.7 1.4 2,300 8,200 2010 2011 29 Employees China +15% 29,000 85k 98k Brazil 6.4 109 India 2010 2011 9,500 Emerging Markets – Key figur
Slide 8: SEWEC – Good base to expand our strong position in emerging markets
SEWEC – Good base to expand our strong position in emerging markets “Second Wave Emerging Countries” Sales (in €bn) +94% 3.5 1.8 Poland Turkey Mexico FY05 FY11 Vietnam Thailand Colombia Indonesia Employees +46% Chile ~19,100 ~13,100 South Africa Developed Markets FY05 FY11 Emerging Markets "Second w
Slide 9: Developed markets offer growth opportunities despite GDP saturation
Developed markets offer growth opportunities despite GDP saturation Balanced regional distribution Growth drivers in developed markets GDP 20111) Siemens revenue 2011 Examples: €54tr €73.5bn Replacement of ageing energy assets Other emerging and Emerging 10% Build up of sustainable power generat
Slide 10: SFS combines financial with industrial logic
SFS combines financial with industrial logic Controlled asset growth Reliable source of profitability €bn 16.0 Pre tax After tax 14.6 31.6 31.4 ROE in % 30.2 11.7 12.5 25.9 25.1 11.3 22.6 8.9 24.8 15-20% Profit 443 428 329 286 304 274 €m FY 07 FY 08 FY 09 FY 10 FY 11 H1 12 FY 07 FY 08 FY 09 FY 10 FY
Slide 11: SG&A kept constant at reduced level in terms of percentage of revenues
SG&A kept constant at reduced level in terms of percentage of revenues SG&A cost development (Siemens continuing operations excl. Osram / SIS) Successful execution of SG&A program Constant SG&A in relative terms % of revenue: 16.7% 13.6% 14.0% 14.0% 14.1% €bn -2.0 +0.6 11.51) 10.3 10.7 9.5 9.7 Selli
Slide 12: Update on our assumptions for FY 2012: Opex increase will slow down in H2
Update on our assumptions for FY 2012: Opex increase will slow down in H2 Customer Price Change Opex Capex Total Sectors in % of revenue (Cont. Ops.) Total Sectors in €bn in €bn 15.3 – 15.5 1.9 – 2.1 1.1 – 1.3 0.3 – 0.5 14.2 0.6 1.6 0.1 -2.5% – -3.0% primarily -2.8% 8.1 “Selling” & “R&D” 2.2 3
Slide 13: We will deliver on One Siemens – outperformance on capital efficient growth for shareholder returns
We will deliver on One Siemens – outperformance on capital efficient growth for shareholder returns Financial target system Growth1) Margins compared to industry benchmarks Revenue growth (rolling 4 quarters Q2 FY 12) EBITDA Margins (H1 FY 12) Energy 9.0% 10-15% Siemens 4.5% Healthcare 18.1% 15-20%
Slide 14: One Siemens – Framework for sustainable value creation
One Siemens – Framework for sustainable value creation One Siemens The integrated technology company Financial target system Outperforming Capital efficiency Capital structure revenue growth Adjusted industrial net ROCE (cont. ops.)1) Growth (nominal) > debt / EBITDA Siemens most relevant competitor
Slide 15: Financial calendar
Financial calendar June 13, 2012 June Exane Conference (Paris) June 14, 2012 JP Morgan Capital Goods Conference (London) June 14, 2012 Swiss Roadshow (Zurich) July August July 26, 2012 Q3 earnings release and analyst call Page 15 Exane BNP Paribas conference June 13, 2012 Copyright © Siemens AG 2012
Slide 16: 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: investorrelations@siemens.com Fax: +49-89-636-32830 Page 16 Exane BNP Paribas conference June 13, 2012 Copyright © Siemens AG 2012. All
Slide 17: 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 18: 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 19: Reconciliation and Definitions for Non-GAAP Measures (III)
Reconciliation and Definitions for Non-GAAP Measures (III) Total Sectors Profit Siemens uses Total Sectors profit to measure the sum of profit of the four Sectors Energy, Healthcare, Industry and Infrastructure & Cities. Profit of the Sectors is earnings before financing interest, certain pension co
Slide 20: Reconciliation and Definitions for Non-GAAP Measures (IV)
Reconciliation and Definitions for Non-GAAP Measures (IV) ROCE (adjusted) – continued ROCE (adjusted) at the Siemens group level on a continuing and discontinued operations basis Siemens also presents group ROCE (adjusted) on a continuing and discontinued operations basis. For this purpose, the nume
Slide 21: Reconciliation and Definitions for Non-GAAP Measures (V)
Reconciliation and Definitions for Non-GAAP Measures (V) Adjusted EBITDA, adjusted EBIT and adjusted EBITDA margins on a continuing operations basis – continued Adjusted EBITDA margins at the Sector level Siemens defines adjusted EBITDA margins at the Sector level as the ratio of adjusted EBITDA to
Slide 22: Reconciliation and Definitions for Non-GAAP Measures (VI)
Reconciliation and Definitions for Non-GAAP Measures (VI) II. 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 bac