Siemens : Q4 FY2015 Financial Results

Q4

% Change

Fiscal Year

% Change

FY 2015

FY 2014

Actual

Comp.1

2015

2014

Actual

Comp.1

Orders

23,716

20,549

15%

6%

82,340

77,657

6%

(1)%

Revenue

21,328

20,438

4%

(4)%

75,636

71,227

6%

(1)%

Book-to-bill ratio

1.11

1.09

Order backlog (Industrial Business, in billions of €)

110

110

Q4

% Change

Fiscal Year

% Change

FY 2015

FY 2014

2015

2014

Industrial Business

Profit

2,455

2,255

9%

7,755

7,703

1%

Profit margin

11.3%

10.9%

10.1%

10.6%

Continuing operations

EBITDA

2,226

2,671

(17)%

9,825

9,576

3%

Income from continuing operations

1,001

1,468

(32)%

5,349

5,292

1%

Basic earnings per share (in €)2

1.18

1.69

(30)%

6.38

6.12

4%

Continuing and discontinued operations

Net income

1,000

1,498

(33)%

7,380

5,507

34%

Basic earnings per share (in €)2

1.18

1.72

(32)%

8.84

6.37

39%

Return on capital employed (ROCE)

10.2%

18.4%

19.6%

17.2%

Sep 30, 2015

Sep 30, 2014

Total equity (Shareholders of Siemens AG)

34,474

30,954

Industrial net debt

6,107

1,390

Industrial net debt / EBITDA3

0.6

0.1

Q4 FY 2015

Q4 FY 2014

Fiscal Year 2015

Fiscal Year 2014

Free cash flow

Continuing operations

4,391

3,361

4,984

5,278

Continuing and discontinued operations

4,375

3,450

4,674

5,201

Sep 30, 2015

Sep 30, 2014

Continuing operations

Total4

Continuing operations

Total4

Employees (in thousands)

348

348

338

357

Germany

114

114

114

116

Outside Germany

234

234

224

240

Q4

Fiscal year

(in millions of €, per share amounts in €)

FY 2015

FY 2014

2015

2014

Revenue

21,328

20,438

75,636

71,227

Cost of sales

(15,348)

(14,824)

(53,789)

(50,869)

Gross profit

5,980

5,614

21,847

20,357

Research and development expenses

(1,264)

(1,138)

(4,483)

(4,020)

Selling and general administrative expenses

(3,098)

(2,822)

(11,409)

(10,190)

Other operating income

155

86

476

654

Other operating expenses

(144)

154

(389)

(194)

Income (loss) from investments accounted for using the equity method, net

(126)

157

1,235

582

Interest income

324

279

1,260

1,058

Interest expenses

(246)

(196)

(818)

(764)

Other financial income (expenses), net

(35)

(125)

(500)

(177)

Income from continuing operations before income taxes

1,545

2,008

7,218

7,306

Income tax expenses

(544)

(539)

(1,869)

(2,014)

Income from continuing operations

1,001

1,468

5,349

5,292

Income (loss) from discontinued operations, net of income taxes

(1)

30

2,031

215

Net income

1,000

1,498

7,380

5,507

Attributable to:

Non-controlling interests

41

52

98

134

Shareholders of Siemens AG

959

1,446

7,282

5,373

Basic earnings per share

Income from continuing operations

1.18

1.69

6.38

6.12

Income (loss) from discontinued operations

-

0.04

2.47

0.25

Net income

1.18

1.72

8.84

6.37

Diluted earnings per share

Income from continuing operations

1.17

1.67

6.30

6.06

Income (loss) from discontinued operations

-

0.04

2.44

0.25

Net income

1.17

1.71

8.74

6.31

Q4

Fiscal year

(in millions of €)

FY 2015

FY 2014

2015

2014

Net income

1,000

1,498

7,380

5,507

Remeasurements of defined benefit plans

(176)

1,169

(370)

288

therein: Income tax effects

(111)

(119)

(107)

249

Items that will not be reclassified to profit or loss

(176)

1,169

(370)

288

therein: Income (loss) from investments accounted for using the equity method, net

7

(25)

(42)

(37)

Currency translation differences

(774)

1,149

1,089

940

Available-for-sale financial assets

23

(154)

354

(56)

therein: Income tax effects

10

(8)

(7)

(13)

Derivative financial instruments

108

(179)

(43)

(316)

therein: Income tax effects

(59)

70

(7)

102

Items that may be reclassified subsequently to profit or loss

(643)

816

1,399

569

therein: Income (loss) from investments accounted for using the equity method, net

(40)

26

149

(85)

Other comprehensive income, net of income taxes

(819)

1,985

1,029

857

Total comprehensive income

182

3,483

8,408

6,364

Attributable to:

Non-controlling interests

30

80

133

165

Shareholders of Siemens AG

152

3,404

8,275

6,199

Sep 30,

Sep 30,

2014

(in millions of €)

2015

Assets

Cash and cash equivalents

9,957

8,013

Available-for-sale financial assets

1,175

925

Trade and other receivables

15,982

14,526

Other current financial assets

5,157

3,710

Inventories

17,253

15,100

Current income tax assets

644

577

Other current assets

1,151

1,290

Assets classified as held for disposal

122

3,935

Total current assets

51,442

48,076

Goodwill

23,166

17,783

Other intangible assets

8,077

4,560

Property, plant and equipment

10,210

9,638

Investments accounted for using the equity method

2,947

2,127

Other financial assets

20,821

18,416

Deferred tax assets

2,591

3,334

Other assets

1,094

945

Total non-current assets

68,906

56,803

Total assets

120,348

104,879

Liabilities and equity

Short-term debt and current maturities of long-term debt

2,979

1,620

Trade payables

7,774

7,594

Other current financial liabilities

2,085

1,717

Current provisions

4,489

4,354

Current income tax liabilities

1,828

1,762

Other current liabilities

20,368

17,954

Liabilities associated with assets classified as held for disposal

39

1,597

Total current liabilities

39,562

36,598

Long-term debt

26,682

19,326

Post-employment benefits

9,811

9,324

Deferred tax liabilities

609

552

Provisions

4,865

4,071

Other financial liabilities

1,466

1,620

Other liabilities

2,297

1,874

Total non-current liabilities

45,730

36,767

Total liabilities

85,292

73,365

Equity

Issued capital

2,643

2,643

Capital reserve

5,733

5,525

Retained earnings

30,152

25,729

Other components of equity

2,163

803

Treasury shares, at cost

(6,218)

(3,747)

Total equity attributable to shareholders of Siemens AG

34,474

30,954

Non-controlling interests

581

560

Total equity

35,056

31,514

Total liabilities and equity

120,348

104,879