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Siemens share price

Stock market trend (XETRA closing prices, Frankfurt, in euros)

indexed

  • Low: 32.05
  • High*: 68.60

200
Siemens DAX
180

160 140 120
Dow Jones Stoxx
100
80

  • Nov.
  • Jan.

2003

  • March
  • May
  • July
  • Sept.
  • Nov.
  • Jan.

2004

*as of January 19, 2004

Key figures – Fiscal 2003

in billions of euros

Percentage

2002

2003

change

Net income

2.445 4.295

1.661* + 47
3.756 + 14

Group profit New orders Sales

75.056 86.214 - 5**

84.016

5.712 5.564 + 3

  • 74.233
  • - 4**

Net cash provided by operating activities

* excl. €936 million from sales of Infineon shares ** Adjusted for currency effects and portfolio activities

Employees (I)

2002*

2003*

Change

426,000 - 9,000 175,000 - 5,000
Worldwide Germany

417,000
170,000

Outside Germany

247,000 251,000 - 4,000

* 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)

Margin targets

8 of 9 Groups achieved targets

Q403 FY03 Target

  • PG
  • Power Generation

Medical Solutions Automation & Drives
11.3 16.8 10 – 13

  • 14.0 15.1 11 – 13
  • Med

A&D Osram PTD TS
10.5 10.3
7.4
9.6 11 – 13 9.8 10 – 11
Power Transmission and Distr. Transportation Systems
6.1 6.0 5.0
5 – 7 5 – 7 5 – 6
5.5

  • SV
  • Siemens VDO Automotive
  • 5.8

  • 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)

SX1

Fashion EUR/APAC

CL50
S57

SL55
Xelibri 1-4
Xelibri 5-8

HIGH-END

CL55

ASIA
ENTRY

MC60

US

C60
CT56

SL56

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

Margin targets

6 Groups following suit

FY 03

- 5.1
1.8

Target

8 – 11 8 – 11 5 – 6
ICN IC Networks* ICM IC Mobile SBS Siemens Business Services I&S Industrial Solutions and Services SD Siemens Dematic
0.2
- 1.0 - 8.4
2.0
4 – 6 7 – 9

  • SBT Siemens Building Technologies
  • 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
  • Project management@Siemens

Cross-selling initiative

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
China
Europe
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 03

Q1 04

Net income Group profit New orders Sales

0.726 1.361

0.521
1.097

20.490 18.329
0.064

20.145 18.845 - 0.695

Net cash*

* 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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