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Siemens Share Price Siemens share price Stock market trend (XETRA closing prices, Frankfurt, in euros) indexed Low: 32.05 High*: 68.60 200 Siemens 180 DAX Dow Jones Stoxx 160 140 120 100 80 Nov. Jan. March May July Sept. Nov. Jan. 2003 2004 *as of January 19, 2004 Key figures – Fiscal 2003 in billions of euros Percentage 2003 2002 change Net income 2.445 1.661* + 47 Group profit 4.295 3.756 + 14 New orders 75.056 86.214 -5** Sales 74.233 84.016 -4** Net cash provided by operating activities 5.712 5.564 + 3 * excl. €936 million from sales of Infineon shares ** Adjusted for currency effects and portfolio activities Employees (I) 2003* 2002* Change Worldwide 417,000 426,000 - 9,000 Germany 170,000 175,000 - 5,000 Outside 247,000 251,000 - 4,000 Germany * September 30 Employees (II) 2% reduction worldwide Success in training and placement 5,000 new hires in Germany 12,000 in training programs Operation 2003 (I) 8 of 9 Groups Margin targets achieved targets Q4 03 FY 03 Target PG Power Generation 11.3 16.8 10 – 13 Med Medical Solutions 14.0 15.1 11 – 13 A&D Automation & Drives 10.5 9.6 11 – 13 Osram 10.3 9.8 10 – 11 PTD Power Transmission and Distr. 7.4 6.1 5 – 7 TS Transportation Systems 5.5 6.0 5 – 7 SV Siemens VDO Automotive 5.8 5.0 5 – 6 SFS* Siemens Financial Services 20.5 24.9 18 – 22 SBT Siemens Building Technologies 2.7 2.0 7 – 9 *) Return on shareholders' equity before income taxes Operation 2003 (II) Power Generation Demag Delaval successfully integrated Alstom industrial turbines round out product range Offerings for oil & gas industry expanded Operation 2003 (III) Siemens VDO Automotive Exemplary integration of VDO A leader in driver information systems, airbag controls and gasoline injectors Among the top players in navigation and diesel injection systems Rigorous cost and quality management Margin targets fully achieved Operation 2003 (IV) Information and Communications IC Mobile and SBS back in the black since 2002 IC Networks back in the black in Q4 of 2003 Capacity adjustments and innovations Record cell phone sales in Q1 of 2004 New cell phones (I) S55 SX1 A52 U1 55 0 Fashion ST 5 1 EUR/APAC U CL50 S57 SL55 HIGH-END Xelibri 1-4 Xelibri 5-8 CL55 ASIA ENTRY A55 MC60 M5 A60 5 2 C6 US C60 56 CT56 M46 S5 56 C 6 S SL56 A X56 M56 New cell phones (II) SL 55 – The star Operation 2003 (V) Siemens Dematic Provisions for old burdens Postal automation reorganized Pick-and-place machines in the black Integration in Siemens AG planned Operation 2003 (VI) Industrial Solutions and Services Capacity adjustments Restructuring Back in the black in 2004 after two years of losses Operation 2003 (VII) Reduction of central costs €1 billion cut in three years Nearly half at Corporate headquarters More than half at Group and Regional headquarters Operation 2003 – Summary Group margin targets unchanged 8 Groups consolidating their success 6 Groups following suit Margin targets FY 03 Target ICN IC Networks* - 5.1 8 – 11 ICM IC Mobile 1.8 8 – 11 SBS Siemens Business Services 0.2 5 – 6 I&S Industrial Solutions and Services - 1.0 4 – 6 SD Siemens Dematic - 8.4 7 – 9 SBT Siemens Building Technologies 2.0 7 – 9 * + 2.9 in Q4 Siemens Management System company programs Innovation Customer focus Global competitiveness Initiatives: Initiatives: Initiatives: Platform strategies Winning new customers Software initiative Trendsetting technologies Cross-selling initiative Project management@Siemens Worldwide manufacturing concept Shared services Asset management Service initiative Quality and process initiative Existing activities will be consolidated "Go for profit and growth" (I) Innovation program Platform strategies Examples: Medical Solutions Automation & Drives IC Networks Trendsetting technologies Examples: Medical Solutions Transportation Systems Siemens VDO Automotive IC Networks / IC Mobile "Go for profit and growth" (II) Customer focus program Target regions Russia Europe China USA Japan India "One Siemens" – Cross-Group offerings "Go for profit and growth" (III) Global competitiveness program Global procurement Exploit cost advantages in Production Software Engineering Administrative functions Key figures – Q1 of fiscal 2004 in billions of euros Q1 04 Q1 03 Net income 0.726 0.521 Group profit 1.361 1.097 New orders 20.490 20.145 Sales 18.329 18.845 Net cash* 0.064 -0.695 * Excluding cash contributions for pension plans Siemens – Global network of innovation Robust business portfolio Power of innovation Global presence Sound financial management Corporate governance Corporate responsibility.
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