Hailing the EUR 3.7 billion order from Deutsche Bahn for ICx inter city train sets as the biggest order in the company's history, Siemens AG reported a 24% YoY increase in orders at its industry sector during the financial year to September 30th 2011. Revenue grew 9% to EUR 32.9 billion, contributing to a sector profit of EUR 3.6 billion.

Presenting the group's annual results in November 2011, CEO Mr Peter Löscher said that strong performance at the Industry and Energy sectors had helped Siemens end its financial year with record operating results. Total sector profit rose by 26% to EUR 9.1 billion, whilst revenues and new orders also increased.

He added that "We are well positioned for moderate revenue growth in fiscal 2012. We predict annual revenues could break the EUR 100 billion threshold in the medium term."

From the start of the 2012 financial year on October 1st 2011, the Siemens Mobility rail activities have been transferred to the new Infrastructure & Cities sector, as part of a reorganization which Mr Löscher said had aligned the business even more closely with our customers.

Noting that Siemens had identified the worldwide trend of urbanization at a very early stage, the company emphasized that the new sector could offer cities solutions for mobility, environmental protection and energy efficiency from a single hand.

(Sourced from www.railwaygazette.com)