RNS Number:3734Q
Siemens AG
23 January 2002


Siemens in the first quarter (October 1 to December 31, 2001) of fiscal 2002

• Siemens rebounded strongly compared to the previous quarter, with €538 million
  in net income. EBITA from Operations was €487 million.

• Sales grew 7% and orders grew 12% compared to the first quarter of the prior
  year (excluding Infineon).

• Net cash from operating and investing activities was again positive, following
  the substantial increase posted in the previous quarter.

• Net income includes a net gain of €157 million related to Siemens' interest in
  Infineon (net balance from Siemens' portion of the first-quarter net loss
  at Infineon and a gain on the sale of Infineon shares during the first quarter  
  of fiscal 2002).

For the first quarter of fiscal 2002, Siemens reported net income of €538
million, a sharp turnaround from the net loss of €1.098 billion in the fourth
quarter of fiscal 2001. In the comparable quarter of fiscal 2001, net income for
Siemens worldwide was €1.000 billion.

Sales rose 7% to €20.496 billion and orders climbed 12% to €24.926 billion
compared to the first quarter a year ago. Excluding currency effects and the net
effect of acquisitions and deconsolidations, sales were level with the prior
year and orders rose 6%. Growth trends were sharply differentiated among the
Operating Groups. Long-cycle businesses including Transportation Systems (TS),
Power Transmission and Distribution (PTD), and Power Generation (PG) accounted
for solid gains in sales and strong increases in orders. In contrast, sales and
orders declined significantly at Information and Communication Networks (ICN).
ICN is rigorously pursuing its restructuring program announced last October; at
the same time, it is evaluating whether additional measures are necessary.

Siemens is generally satisfied with the results of the first quarter and
welcomes the continued success in generating positive cash flow. Of the five
Groups with restructuring programs, four are already back in the black or close
to it. Overall, this quarter suggests the Operating Groups should be able to
move into their respective target corridors for Operation 2003 in the coming
quarters.


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