ots Ad hoc-Service: SIEMENS AG <DE0007236101> Preliminary figures for fiscal 2000 (October 1, 1999 - September 30, 2000) and for the fourth quarter of fiscal 2000 (July 1, 2000 - September 30, 2000)
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Preliminary figures for fiscal 2000 (October 1, 1999 - September 30, 2000) and for the fourth quarter of fiscal 2000 (July 1, 2000 - September 30, 2000)
Siemens posts record earnings
In fiscal 2000, Siemens' earnings after taxes and before extraordinary items totaled EUR 3.38 billion, marking an 81 percent increase over the previous year. On the basis of this performance, management will propose raising the dividend to EUR 1.40 (1999: EUR 1.00) per share. The company also posted extraordinary items totaling EUR 4.52 billion. As a result, shareholders will be asked to approve an extra dividend EUR 1 .00 per share. In addition, employees will profit from the extraordinary items through a special share program. Sales climbed 14 percent to EUR 78.4 billion (1999: EUR 68.6 billion). Orders rose 20 percent to EUR 83.4 billion (1999: EUR 69.5 billion). Siemens' earnings for the fiscal year considerably exceeded the cost of capital employed - a year earlier than originally planned.
The company also posted record results in the fourth quarter. Compared to the fourth quarter last year, orders rose 20 percent to EUR 23.5 billion and sales 12 percent to EUR 24.1 billion. Earnings after taxes and before extraordinary items surged 43 percent to EUR 1.1 billion.
Management will propose to the annual shareholders' meeting that shareholders receive one additional share, paid from retained earnings, for every two shares they own. The new shares will be entitled to dividends in fiscal 2001.
Due to developments in the world economy, growth in fiscal 2001 is not expected to be as dramatic as last year. On the other hand, consolidation effects, including those from the activities of Atecs Mannesmann, will continue to increase Siemens' business volume. The high number of orders on hand from the previous year should ensure that sales growth exceeds the long-term industry average.
On December 14, in the run-up to its public listing in New York, Siemens will publish - in addition to a fiscal 2000 annual report complying with the German Commercial Code - selected key figures based on US GAAP. These figures will provide a basisfor an outlook on future earnings development. Beginning this fiscal year, US GAAP will be the sole standard for Siemens' financial accounting and reporting.
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