Sustainable Success Is Our Number One Priority
Sustainable success is our number one priority. s Annual Report 2002 BUSINESS EXCELLENCE For 155 years, the Siemens name has been synonymous with cutting- edge technologies and continuous growth in profitability. With our wide array of products, systems and services, we are world leaders in information and communications, automation and control, power, medical solutions, trans- portation and lighting. Sustainable success is our number one priority. Our activities focus on meeting the needs of our customers and creating value for our shareholders and employees. Our innovations Ð generated in our own lab- oratories and in cooperation with customers, business partners and universi- ties Ð are our greatest strength. Siemens’ global network of innovation is developing new products and services for a world that Ð while limited in resources Ð is boundless in possibilities. GLOBAL PRESENCE 12 Letter to our shareholders 38 Information for shareholders* 140 Supervisory Board 18 At a glance 40 Report of the Supervisory Board 142 Managing Board 20 Business areas 48 Management’s discussion and analysis 146 Financial calendar 32 Corporate governance 86 Consolidated financial statements Corporate structure** * with separate table of contents ** see fold-out inside back cover financial highlights (in millions of euros) 2002(1) 2001(1) 2000(1) New orders 86,214 92,528 83,426 Net sales 84,016 87,000 77,484 Net income 2,597 2,088 8,860 Net cash provided by operating activities 5,564 7,016 6,154 Net cash used in investing activities (810) (5,886) (435) Research and development expenses 5,819 6,782 5,848 Shareholders’ equity (September 30) 23,521 23,812 28,480 Employees (September 30, in thousands) 426 484 448 FINANCIAL (1) Fiscal year (October 1 Ð September 30) INTEGRITY CORPORATE RESPONSIBILITY 4 Business excellence At Siemens, we view innovation as To ensure that our businesses are world the key to entrepreneurial success.
[Show full text]