RNS Number:0861V
Siemens AG
25 April 2002

Siemens in the second quarter (January 1 to March 31) of fiscal 2002



•         Net income in the second quarter was €1.281 billion, compared to €538
million in the previous quarter and €578 million in the same quarter a year ago.
Earnings per share for the second quarter were €0.76 compared to €0.65 in the
same quarter a year earlier.

•         Net income includes a net positive effect of €561 million from
Infineon: Gain on the sale of Infineon-shares (€604 million) was offset by
Siemens' portion of Infineon's second-quarter net loss (€43 million).

•         EBIT from Operations was €919 million, despite restructuring charges
and asset write-downs totaling €114 million as well as a €79 million impact in
Argentina resulting from the financial crisis in that country. Strong
performance from Siemens' power generation, medical, and lighting businesses.
EBIT from Operations was €487 million in the previous quarter and €922 million
in the same quarter a year ago.

•         Compared to the same quarter a year earlier, sales rose 3% to €21.258
billion and orders decreased 2% to €22.431 billion. Excluding currency effects
and the net effect of acquisitions and deconsolidations, sales increased 1% and
orders declined 6% compared to the same quarter a year ago.

•         Net cash from operating activities for the first six months improved
to €2.253 billion. Net cash used in investing activities totaled €513 million,
primarily due to transactions related to Atecs Mannesmann and Infineon. Net cash
from operating and investing activities for the half-year totaled €1.740
billion.



Siemens CEO Heinrich v. Pierer expressed satisfaction with the results of the
second quarter and first six months, considering the difficult economic
environment. "A majority of the operating units improved their earnings compared
to the same period a year ago, but we are well aware of the challenges still
ahead", said Pierer. "While we continue to refrain from providing more specific
financial forecasts given the macroeconomic situation, our operational
priorities are clear: executing planned productivity and restructuring programs,
acting swiftly and decisively where those initiatives appear insufficient to
offset market dynamics, and above all pursuing the goals specified in 'Operation
2003.'" In this context, Information and Communication Networks (ICN) has
intensified its already vigorous restructuring measures, including reduction of
approximately 6,500 positions in the coming quarters. In implementing this plan,
the Group expects to incur expenses of approximately €300 million in the second
half of the year.



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