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Siemens AG

August 2021

Unrestricted | © Siemens 2021 | August 2021

Disclaimer

This document contains statements related to our future business and financial

performance and future events or developments involving Siemens that may constitute forward-looking statements. These statements may be identified by

words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. We may also

make forward-looking statements in other reports, in prospectuses, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain

assumptions of Siemens’ management, of which many are beyond Siemens’

control. These are subject to a number of risks, uncertainties and factors, including, but not limited to, those described in disclosures, in particular in the chapter Report on expected developments and associated material opportunities and risks of the Annual Report, and in the Half-year Financial Report, which should be read in conjunction with the Annual Report. Should one or more of

these risks or uncertainties materialize, events of force majeure, such as

pandemics, occur or should underlying expectations including future events occur at a later date or not at all or assumptions prove incorrect, actual results, performance or achievements of Siemens may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forwardlooking statement.

Siemens neither intends, nor assumes any obligation, to update or revise these

forward-looking statements in light of developments which differ from those anticipated.

This document includes – in the applicable financial reporting framework not clearly defined – supplemental financial measures that are or may be alternative performance measures (non-GAAP-measures). These supplemental financial

measures should not be viewed in isolation or as alternatives to measures of

Siemens’ net assets and financial positions or results of operations as presented

in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently.

Due to rounding, numbers presented throughout this and other documents may

not add up precisely to the totals provided and percentages may not precisely

reflect the absolute figures.

Financial publications are available for download at:

www.siemens.com/ir

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173 years

of innovation and

social responsibility

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  • 1816 – 1892
  • 1866

  • Company founder,
  • The dynamo makes

electricity part of everyday life

Siemens innovations

Milestones in a 173-year history

visionary and inventor

  • 1847
  • 1879

Pointer telegraph lays the

World’s first

foundation of Siemens as a

global company

electric railway

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  • 1925
  • 1975
  • 2010
  • 2016
  • 2019

Siemens electrifies the Irish Free State with a hydroelectric power plant
Breakthrough of highvoltage direct-current (HVDC) transmission
TIA Portal takes automation a stage further

  • MindSphere,
  • Launch of first project

  • for Siemensstadt 2.0
  • the cloud-based IoT

operating system

  • 1959
  • 1983
  • 2012
  • 2018
  • 2020

  • SIMATIC
  • First magnetic resonance
  • Test operation of the

world‘s largest rotor for

offshore wind turbines
Charter of Trust: a joint

initiative for a secure

digital world
Comfy workplace app makes

revolutionizes

automation

  • imaging scanner
  • it safe to return to the office

during the coronavirus pandemic

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Siemens has been shaping industrial revolutions

ever since its founding

Digitalization –

4th Industrial Revolution

Combining the real and the digital worlds in industry, infrastructure, mobility and healthcare

Automation –

Automation of production

and computerization

3rd Industrial

Revolution

Electrification –

Introduction of the assembly line and advances in transportation

2nd Industrial Revolution

Founding of Siemens

1st Industrial Revolution

Steam power –

Shift from manual to mechanical production

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Our four strategic priorities

Customer

impact
Empowered people

Driving progress through empowering our customers, partners and employees.
We anticipate what our customers need before they even know they need it.

Growth

mindset

Rather than make yesterday last, we are

committed to building tomorrow – by learning and being open to change.

Technology with purpose

Innovative technology has been at the core of
Siemens for more than 170 years and it will remain at the core of the future we're building.

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… built in factories running on

Siemens automation ...

We commute in cars designed

with Siemens software…
… and charged by a Siemens

smart grid.

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We work in smart buildings that

  • … that use energy
  • … and connect the physical and

promote our health and safety…

with maximum efficiency ...

the digital workplace.

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We book our train tickets with

  • … to travel on trains
  • … operated with Siemens

Siemens software …

made by Siemens ...

infrastructure technology.

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We rely on life-saving drugs

  • … as well as accurate
  • … all of which are made

and treatments…

medical diagnoses, ...

possible by Siemens solutions.

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Siemens is focused on the industries that form the backbone of our economies – industry, infrastructure, mobility, and healthcare

Digital transformation of

industry, infrastructure and mobility
Healthcare

Energy transition

Siemens

Siemens
Healthineers1
Siemens Energy2

1 Publicly listed subsidiary of Siemens; Siemens’ share in Siemens Healthineers: 75% | 2 Non-controlled publicly listed associate

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By combining the real and the digital worlds, Siemens empowers its customers to master their digital transformation and sustainability challenges

Real

world

Digital

world

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Businesses and Services of Siemens AG

Industrial Businesses

Digital Industries
Smart Infrastructure
Siemens

  • Healthineers1
  • Mobility

  • Other Businesses
  • Services

Portfolio Companies
Siemens Advanta

Siemens

Financial Services Real Estate

Siemens

Global Business Services

1 Publicly listed subsidiary of Siemens; Siemens’ share in Siemens Healthineers: 75%

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Management

Managing Board of Siemens AG

Dr. Roland

Busch

President and CEO

Matthias Rebellius

  • Judith
  • Cedrik

Neike
Prof. Dr. Ralf P.
Wiese

CHRO

Thomas

CFO

1 Until March 31, 2021

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Management of Siemens’ Businesses

Digital Industries
Smart Infrastructure

  • Mobility
  • Siemens

Advanta
Portfolio Companies
Siemens Healthineers

  • Cedrik Neike
  • Matthias Rebellius
  • Michael Peter
  • Aymeric Sarrazin
  • Dr. Horst J. Kayser
  • Dr. Bernd Montag
  • Darleen Caron

  • CEO
  • CEO
  • CEO
  • CEO
  • Chairman
  • CEO
  • CHRO

  • Rudolf Basson
  • Axel Meier
  • Karl Blaim
  • Ariane Hemmer
  • Dr. Martin Meyer
  • Dr. Jochen

Schmitz
Dr. Christoph Zindel

  • CFO
  • CFO
  • CFO
  • CFO
  • Head of Finance

  • CFO
  • Board member

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We leverage our Company Core Technologies across all businesses for the long-term success of Siemens and its customers

Additive manufacturing
Autonomous robotics
Blockchain applications
Connected (e)mobility
Connectivity and edge

  • Data analytics,
  • Distributed
  • Storage
  • Future of

  • Cybersecurity
  • artificial intelligence energy systems
  • applications
  • automation

Materials &

Manufacturing

Power

electronics

Simulation and

digital twins

Software systems

and processes

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Recommended publications
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    Trix/Minitrix New Items 2017 Brochure HERE

    New Items 2017 Trix. The Fascination of the Original. New Items 2017 E E © Gebr. Märklin & Cie. GmbH – All rights reserved. © Gebr. Märklin & Cie. GmbH – All rights reserved. Dear Trix Fans, Welcome to the New Year for 2017! This year we are again presenting our new items brochure with many impressive models for Minitrix, Trix H0, and Trix Express. Through all of the eras, the railroad has provided transporta- tion for business and industry. It has also left its mark on the life of entire cities and regions over many generations. It is thus no wonder that we have given special importance to freight service as models. This year we are spreading the entire range across model railroad rails. Regardless of whether it is the impressive class 42 steam locomotive of the Fifties or the latest variations of the Vectron as the TRAXX family. We are bringing impressive, prototypical trains/train New Items for MiniTrix 2017 2 – 55 New Items for Trix H0 2017 56 – 105 runs to your model railroad scenery with car sets in all eras, some of them with new tooling. However, 2017 is also the year of the “TransEuropExpress”, which seven railroads started exactly 60 years ago with the ambitious plan to bring elegant, comfortable traveling to the rails. Come with us to explore this concept through the eras New Items for Trix Express 2017 106–109 of the history of long-distance passenger service. Now, give free rein to your personal operating and collector passion and discover your favorites on the following pages. Fulfill your wishes – your local specialty dealer is waiting for your visit! MiniTrix Club Model for 2017 6– 7 MHI Exclusiv 1/2017 4 – 8 Your Trix Team wishes you much fun exploring the new items H0 Trix Club Model for 2017 58 – 59 Museumcars 117 for 2017! Trix Club 110 Reparatur-Service 118 Registration Form 113 General References 118 Trix Club Cars for 2017 111 Important Service Information 118 Trix Club Anniversary Car 112 Explanation of Symbols 119 Index to the Item Numbers 120 1 © Gebr.
  • Top 500 Beschäftigten Stabil

    Top 500 Beschäftigten Stabil

    TRENDTHEMA Die 500 größten UNTERNEHMEN INHALT COMEBACK » Erstaunlich gutes Jahr 2020 trotz Coronakrise. TENDENZ » Große Unternehmen weniger betroffen als kleine. UMSATZ » Rund 40 % mit Zuwächsen gegenüber 2019. MITARBEITER » Zahl der bei den Top 500 Beschäftigten stabil. TREND-TABELLE » Die Ränge 1 bis 500 im Überblick. Tren21_TOP500_für-online-PDF_Deckblatt.indd 1 11.06.21 13:09 Programmierung: RJ Partner GmbH TOP 500: die größten Unternehmen Österreichs RANKING. Das Coronajahr 2020 stellte für viele Unternehmen eine absolute Ausnahmesituation dar. In Summe kamen die TOP 500 Gastronomie oder Events, konnten viele aber überraschend gut durch die Krise. Die gesamte Liste von österreichische Firmen die herben Rück- gänge vor allem im zweiten Quartal 2020 der Nummer ein bis Rang 500 sehen Sie hier auf trend.at. teilweise oder ganz aufholen. Gar nicht so wenige haben in der Pandemie sogar MGEKEHRTE VORZEICHEN: Im wiegend bei den Unternehmen direkt er- massiv zugelegt: die Münze Österreich, vergangenen Jahr, als das TOP- folgt, diesmal ein bisschen schwieriger. die Spar-Gruppe, der Pistolenhersteller U 500-Ranking die Geschäftszahlen Manche wollten – nicht ganz unverständ- Glock oder die cargo-partner Group – um von 2019 repräsentierte, wies der trend an lich – die Werte für ein völlig untypisches nur ein paar Beispiele zu nennen. dieser Stelle darauf hin, dass das außeror- Geschäftsjahr nur ungern melden. Bei 284 Unternehmen der TOP 500 dentlich gute Bild, das sich offenbarte, mit manchen sorgten krisenbedingte Sonder- mussten 2020 gegenüber dem Jahr davor der Lage zum Erscheinungszeitpunkt – effekte für Verzögerungen oder sie hat- Umsatzeinbußen hinnehmen, immerhin Mitte Juni 2020 – längst nichts mehr zu ten – ebenfalls nachvollziehbar – schlicht 211 konnten jedoch Umsatzsteigerungen tun hatte.
  • Global Competitiveness in the Rail and Transit Industry

    Global Competitiveness in the Rail and Transit Industry

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  • Siemens Launches Network Booster Software to Interconnect Data Across Sorting Centers

    Siemens Launches Network Booster Software to Interconnect Data Across Sorting Centers

    Press Siemens Logistics Constance, July 7, 2020 Siemens launches Network Booster software to interconnect data across sorting centers • Real-time data visualization of processes in parcel and mail distribution networks • Advanced analytics for end-to-end monitoring and control of item flows • Optimized network performance and maximized productivity Siemens Logistics is launching its new Network Booster software for parcel and mail distribution networks. This innovative solution creates full visibility of processes within a network and allows enhanced network performance. Features include full monitoring and recording of throughput for each connected logistics center and high-end visualization and analysis of performance data. Thanks to the real-time collection of operational data, the software enables to quickly identify operational irregularities, localize bottlenecks, and respond rapidly to reduce negative impacts on overall network performance. An example is the detection of items looping between sorting centers and the information required to extract these items. Recirculating parcels are a frequently occurring problem, leading to higher costs. Thanks to Network Booster, unnecessary sorting and transport costs caused by recirculations can be reduced by at least 80 percent. Mail and parcel service providers benefit from increased operational efficiency and overall network profitability. “Due to the corona pandemic, shopping opportunities are still limited in some countries. At the same time, e-commerce is booming, and we are seeing
  • Siemens to Supply Underground Trains to Munich Eco-Friendly, Energy-Saving Trains Featuring Service-Proven Technology

    Siemens to Supply Underground Trains to Munich Eco-Friendly, Energy-Saving Trains Featuring Service-Proven Technology

    Press Presse Press Presse Industry Sector Mobility Division Berlin, Germany, November 23, 2010 Siemens to supply underground trains to Munich Eco-friendly, energy-saving trains featuring service-proven technology Munich City Utilities (SWM) have placed an order with Siemens Mobility for 21 new C2 type underground trains worth about 185 million euros. At the same time, SWM have taken out two options on a further 46 underground trains, totaling 276 cars, which can be exercised until 2016 and 2020, respectively. The total volume of the order, including these options, is around 550 million euros. Hans-Joerg Grundmann, CEO of the Siemens Mobility Division, said, “We’re proud to be able to continue our longstanding customer relationship with SWM and its subsidiary, Munich Public Transportation Company (MVG). This order represents a milestone project for us in our home market. During the development of the Munich vehicle we placed particular importance on environmentally clean, low CO2 technology.” Siemens is one of the biggest suppliers of underground trains on the world market. The further development of today’s C car enables Siemens to build on the success of the previous car generation, for which Siemens had already borne full responsibility as general contractor. This service-proven system is combined with innovative technologies reflecting the latest developments in metro vehicles marketed by Siemens under the name Inspiro. The technologies ensure a high degree of reliability and comfort. For Munich, Siemens will supply metro trains that are especially eco-friendly and energy-efficient. The reduced energy consumption is attributable to a combination of different innovative designs.
  • Annual Report 2012

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    MATERIALS CENTER LEOBEN FORSCHUNG GMBH ANNUAL REPORT 2012 ANNUAL REPORT 2012 2012 MATERIALS CENTER LEOBEN FORSCHUNG GMBH CENTER LEOBEN FORSCHUNG MATERIALS 12 COMET K2 Centre MPPE Integrated Research in Materials, Processing and Product Engineering The strategic objectives of COMET are: developing new expertise by initiating and supporting long-term research co-operation between science and industry in top-level research, and establishing and securing the technologi- cal leadership of companies. By advancing and concentrating existing strengths and by integrating international research expertise Austria is to be strengthened as a research location for the long term. MPPE is grateful for funding from the Austrian Federal Government (especially the Federal Ministry for Transport, Innovation and Technology and the Federal Ministry of Economy, Family and Youth) represented by the Austrian Research Promotion Agency (FFG) and from the Styrian Regional Government represented by the Styrian Business Promotion Agency (SFG). 12 2 2 www.mcl.atMCL – MATERIALS CENTER LEOBEN FORSCHUNG GMBH Our Expertise – Our Objectives MCL focuses on the following research areas, partly in THE COMPANY cooperation with partners: The Materials Center Leoben (MCL) is an internationally active research institution specialising in materials, production and processing engineering and innovative ma- terial applications. MCL focuses on the following research areas, partly in cooperation with partners: ● Metallic materials, in particular steels – development, processing, design and in- novative applications ● Tooling, tool materials as well as tool loading and service life ● Material composites – materials and component reliability (in particular for the electronics industry) and ceramic materials ● Materials analysis on all length scales ● Materials mechanics and simulation – processing, design and reliability, material models MCL carries out cooperative research and development projects with partners from industry and offers a comprehensive range of services.
  • Siemens Annual Report 2018

    Siemens Annual Report 2018

    Annual Report 2018 siemens.com Table of contents . A B C Combined Management Report Consolidated Financial Statements Additional Information A.1 p 2 B.1 p 62 C.1 p 132 Organization of the Siemens Group Consolidated Statements Responsibility Statement and basis of presentation of Income C.2 p 133 A.2 p 3 B.2 p 63 Independent Auditor ʼs Report Financial performance system Consolidated Statements of Comprehensive Income C.3 p 139 A.3 p 6 Report of the Supervisory Board Segment information B.3 p 64 Consolidated Statements C.4 p 144 A.4 p 18 of Financial Position Corporate Governance Results of operations B.4 p 65 C.5 p 157 A.5 p 21 Consolidated Statements Notes and forward- looking Net assets position of Cash Flows statements B.5 p 66 A.6 p 22 Financial position Consolidated Statements of Changes in Equity A.7 p 26 B.6 p 68 Overall assessment of the economic position Notes to Consolidated Financial ­Statements A.8 p 28 Report on expected developments and associated material opportunities and risks A.9 p 40 Siemens AG A.10 p 43 Compensation Report A.11 p 57 Takeover-relevant information A. Combined Management Report A.1 Organization of the Siemens Group and basis of pr esentation Siemens is a technology company with core activities in the fields Non-financial matters of the Group of electrification, automation and digitalization and activities and Siemens AG in nearly all countries of the world. We are a leading supplier of Siemens has policies for environmental, employee and social power generation, power transmission and infrastructure solu- matters, for the respect of human rights, and anti-corruption and tions as well as automation, drive and software solutions for in- bribery matters, among others.
  • Siemens Healthineers · Flyer DIN Long Portrait · Template

    Siemens Healthineers · Flyer DIN Long Portrait · Template

    Dr. Roland Busch Information on the Supervisory Board candidate proposed for election under Agenda Item 6 2002 Siemens Aktiengesellschaft, Head of Memberships of comparable domestic or Infotainment Solutions Division foreign controlling bodies of commercial enterprises: 2005 Siemens VDO Automotive Asia Pacific Co. Ltd., Shanghai, China • Atos SE, Bezons, France • President and CEO • Arabia Electric Ltd. (Equipment), Jeddah, * 2007 Siemens Aktiengesellschaft, Saudi Arabia Transportation Systems Group, • ESMT European School of Management Erlangen, Germany and Technology GmbH, Berlin, Germany • Head of Mass Transit Division Dr. Roland Busch • ISCOSA Industries and Maintenance Ltd., * 2008 Siemens Aktiengesellschaft, Dammam, Saudi Arabia (deputy chairman) Deputy Chief Executive Officer, Chief Corporate Development Department, • Siemens Ltd., Riyadh, Saudi Arabia* Technology Officer and member of the Munich, Germany Managing Board of Siemens Aktien­ • Siemens W.L.L., Doha, Qatar* gesellschaft, Berlin and Munich, Germany • Head of Corporate Strategies • VA TECH T&D Co. Ltd., Riyadh, born on November 22, 1964 in Erlangen, 2011 Member of the Managing Board of Saudi Arabia* Siemens Aktiengesellschaft Germany • Chief Technology Officer since Dr. Busch is a member of the Managing December 2016 Education: Board of Siemens Aktiengesellschaft, with its • Chief Operating Officer from registered seat in Berlin and Munich. Siemens October 2018 until September 2019 • Studied physics at Friedrich Alexander since Aktiengesellschaft directly and indirectly University in Erlangen­Nuremberg, Germany, 2019 • Chairman of the Supervisory Board holds 85% of the Company’s capital stock at and at the University of Grenoble, France of Siemens Mobility GmbH since the time Notice of the Annual Shareholders’ Meeting is given. Pursuant to Section 5.4.1 (6) • Dipl.­Phys., Dr.
  • 2015 Annual and Sustainability Report

    2015 Annual and Sustainability Report

    1 2015 Annual and Sustainability Report siemens.com.br 2 Contents Contents Introduction Página 03 Siemens at a Glance Página 05 Letter from the CEO Página 06 Our Path Página 08 Our Strategy Siemens in Brazil Página 10 Siemens in Brazil Página 12 Siemens’ Presence in Brazil Página 13 Company Structure Página 14 Manufacturing Facilities in Brazil Página 16 Innovation How to read this Report Reinforce Siemens’ commitment towards transparency is the organization that standardizes publications of this sort. Throu- main objective of this Annual and Sustainability Report, pro- ghout the chapters, information corresponding to GRI G4 indi- duced in two versions: print and online. cators are pointed out according to their acronyms just below the text where they appear. Before preparing this report, we consulted our various stake- holders to learn what really interests them. Therefore, this The online version of this report can be accessed through the report is a response to our customers, employees, suppliers, following website: www.siemens.com.br/relatorioanual2015. universities, entities and communities that in some way relate or intend to relate with Siemens. Besides more detailed information, it also contains videos, tables with Global Reporting Initiative indicators and links to All the information contained herein refers to the October 1, other Siemens publications. 2014 – September 30, 2015 period, contemplating the Brazil operation. Pursuant to our head office policy, we only report Aware that publications such as these must be dynamic and consolidated financial data. Complete financial data from the constantly satisfy society’s demands, we invite you to partici- Siemens AG head office in Germany is available at: pate in a survey about this publication.
  • Joint Press Release

    Joint Press Release

    Joint Press release Siemens and Atos announce a five-year extension of their strategic partnership Atos to deliver digital, integrated and cybersecurity solutions to support Siemens digital strategic objectives Siemens-Atos Global Alliance will pursue joint go-to-market growth opportunities Munich, Germany - Paris, France – September 23, 2020 – Siemens AG and Atos, a global leader in digital transformation, today announced the extension of their Customer Relationship Agreement within their strategic partnership, started in 2011. The agreement aims to accelerate Siemens’ digital objectives in the areas of services modernization and digitalization, data driven digital, cloud transformation and cybersecurity. It comes in the context of 5-year total €3 billion agreements which were separately signed with Siemens AG, Siemens Energy AG and Siemens Healthineers AG and include existing services as well as new business. As part of the agreement, Atos will also invest in innovation and digital modernization, in order to advance important innovation topics for Siemens. “We are delighted to extend and strengthen our longtime partnership with Atos with this new framework partnership agreement to accelerate our transformation and support our digital strategic objectives”, said Hanna Hennig, Chief Information Officer at Siemens AG. “To support the different requirements of Siemens across all of its businesses, Atos will provide Siemens with best-in-class digital and integrated solutions such as Digital Workplace, Application modernization, full leverage of Atos new hybrid cloud platform, Digital Platforms and end-to-end Integration and Security. Atos will also deploy an innovative, data driven model enabling further leverage of Artificial Intelligence and Machine Learning,” said Eric Grall, Atos Chief Operating Officer.
  • Siemens Annual Report 2019

    Siemens Annual Report 2019

    Annual Report 2019 siemens.com Table of contents A B C Combined Consolidated Additional Information Management Report Financial Statements A.1 p 2 B.1 p 76 C.1 p 150 Organization of the Siemens Group Consolidated Statements Responsibility Statement and basis of presentation of Income C.2 p 151 A.2 p 3 B.2 p 77 Independent Auditor ʼs Report Financial performance system Consolidated Statements of Comprehensive Income C.3 p 157 A.3 p 5 Report of the Supervisory Board Segment information B.3 p 78 Consolidated Statements C.4 p 162 A.4 p 16 of Financial Position Corporate Governance Results of operations B.4 p 79 C.5 p 174 A.5 p 19 Consolidated Statements Notes and forward- looking Net assets position of Cash Flows statements B.5 p 80 A.6 p 20 Financial position Consolidated Statements of Changes in Equity A.7 p 24 B.6 p 82 Overall assessment of the economic position Notes to Consolidated Financial ­Statements A.8 p 26 Report on expected developments and associated material opportunities and risks A.9 p 38 Siemens AG A.10 p 40 Compensation Report A.11 p 71 Takeover-relevant information Combined Management Report Pages 1 – 74 A.1 Organization of the Siemens Group and basis of pr esentation Siemens is a technology company that is active in nearly all coun- Non-financial matters of the Group tries of the world, focusing on the areas of automation and digi- and Siemens AG talization in the process and manufacturing industries, intelligent Siemens has policies for environmental, employee and social infrastructure for buildings and distributed energy systems, con- matters, for the respect of human rights, and anti-corruption and ventional and renewable power generation and power distribu- bribery matters, among others.
  • Siemens Annual Report 2020

    Siemens Annual Report 2020

    Annual Report 2020 Table of A. contents Combined Management Report A.1 Organization of the Siemens Group and basis of presentation 2 A.2 Financial performance system 3 A.3 Segment information 6 A.4 Results of operations 18 A.5 Net assets position 22 A.6 Financial position 23 A.7 Overall assessment of the economic position 27 A.8 Report on expected developments and as sociated material opportunities and risks 29 A.9 Siemens AG 46 A.10 Compensation Report 50 A.11 Takeover-relevant information 82 B. Consolidated Financial Statements B.1 Consolidated Statements of Income 88 B.2 Consolidated Statements of Comprehensive Income 89 B.3 Consolidated Statements of Financial Position 90 B.4 Consolidated Statements of Cash Flows 92 B.5 Consolidated Statements of Changes in Equity 94 B.6 Notes to Consolidated Financial Statements 96 C. Additional Information C.1 Responsibility Statement 166 C.2 Independent Auditor ʼs Report 167 C.3 Report of the Super visory Board 176 C.4 Corporate Governance 184 C.5 Notes and forward-looking s tatements 199 PAGES 1 – 86 A. Combined Management Report Combined Management Report A.1 Organization of the Siemens Group and basis of presentation A.1 Organization of the Siemens Group and basis of presentation Siemens is a technology company that is active in nearly all Reconciliation to Consolidated Financial Statements is countries of the world, focusing on the areas of automation Siemens Advanta, formerly Siemens IoT Services, a stra- and digitalization in the process and manufacturing indus- tegic advisor and implementation partner in digital trans- tries, intelligent infrastructure for buildings and distributed formation and industrial internet of things (IIoT).