SIE Siemens N Ord

RNS Number:1085Q
Siemens AG
17 January 2002


Siemens Annual Shareholders' Meeting 2002

Siemens will release its key figures for the first quarter of fiscal 2002 (Oct 1
to Dec. 31. 2001) on January 23. Although details of the data haven't been 
evaluated yet, the company is presenting an initial overview at its annual 
shareholders' meeting today:

* New orders have again increased in comparison with the previous year. Sales 
have also increased, but at a slightly lower growth rate. The company will 
analyze the effects of consolidations and currency translations on these 
figures. Overall, it appears that the company can be satisfied with the 
development of its business volume.

* Although earnings from Operations are below those of the very strong first 
quarter of the prior year, they have improved substantially over last year's 
weak fourth quarter. A further strong increase is expected at Power Generation. 
The restructuring programs are taking hold. As a result, the four Groups IC 
Mobile, Siemens Business Services Siemens Dematic and Siemens VDO Automotive 
should be back in the black or getting quite close. However, Siemens still 
expects a loss at IC Networks, and the market situation doesn't allow to make a 
clear picture.

* The sale of additional Infineon shares in the last quarter made a 
substantially positive contribution to earnings. The sale of 40 million Infineon
shares last week is not included here; the transaction will be cash effective in
the second quarter.

As far as the rest of the fiscal year is concerned, the company has committed 
its Groups to move into their respective target corridors set in Operation 2003.
The economic slowdown since the spring of 2001 and the impact of the terrorist 
attacks on September 11 have made it especially difficult to accurately forecast
future business developments.

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