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ots Ad hoc-Service: SIEMENS AG <DE0007236101> Preliminary figures for the period October 1, 1999 to March 31, 2000

Munich (ots Ad hoc-Service) -

The sender is solely responsible for the contents of this
announcement.
Siemens more than doubles earnings in second Quarter
Siemens followed up an excellent first quarter (October 1 -
December 31, 1999) with an even stronger performance in the second
quarter (January 1 - March 31, 2000). Net income before extraordinary
items jumped 104 percent to EUR780 million in the second quarter.
Earnings growth was driven by improvements in Operations; all Groups
are in the black. The company again achieved a positive EVA (economic
value added). The Infineon IPO and the sale of other business
activities generated extraordinary items after taxes of EUR3.63
billion. Despite divestments, growth accelerated in the second
quarter: orders rose 19 percent and sales 15 percent over the
comparable period last year.
Company earnings considerably exceeded projections for the first
half year. Net income before extraordinary items soared to EUR1.405
billion - an increase of 98 percent over the comparable period last
year. Extraordinary items after taxes totaled EUR4.605 billion. Net
income including extraordinary items reached EUR6.010 billion (1999:
EUR0.71 billion). Orders for the half year increased 17 percent to
EUR39.0 billion and sales 13 percent to EUR35.5 billion.
Siemens remains optimistic for the year as a whole and expects to
post a positive EVA for the full fiscal year, one year earlier than
originally projected.
Stock buy-back program
The improved cash flow generated by higher earnings from
Operations and the net cash provided by divestments will make it
possible to implement the stock buy-back program approved at the
annual shareholders' meeting in February. The buy-back, which will
take place in the coming months, is limited at present to one billion
euros worth of stock. The buy-back was approved by the Managing Board
of Siemens AG. Upon repurchase of the shares, they will be retired to
reduce the company's capital stock.
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