Siemens first quarter results for 2012 showed
disappointing losses across the board, with the notable exception
of its leasing division Siemens Financial Services (SFS).
The electronics and electrical engineering
company recorded a significant loss in pre-tax profit, down to
€1.8bn in the first three months of fiscal 2012 (30 September 2011
to 31 December 2011) from the €2.6bn seen in the first three months
of fiscal 2011.
The energy sector took the hardest blow,
recording a 56% loss in profits from €753m to €481m.
However, SFS bucked the trend, watching profit
swell 95% to €199m from €102m for the same period in 2011.
Nevertheless, SFS also bore losses, with a
drop in new orders for the three month period to €197m from the
€224m recorded for the same period in 2011.
External revenue decreased from €201m to
€176m, and free cash flow for 2012 was €55m, a drop from the €99m
recorded in 2011.
For all sectors of Siemens there was a total
of €19.8bn new orders in the first three months of fiscal 2012, a
dip compared to the €20.8bn of new orders in the same period for
Assets as of 31st December
2011 were at €105,858m, rising slightly from the €104,243m recorded
on the 30th September 2011. Similarly, assets for SFS
increased, rising to €16,126m from the €14,602 recorded for the
Pictured: Roland W. Chalons-Browne, CEO of
Siemens Financial Services