Siemens announces financial results for first quarter of 2012

In the first quarter of its new fiscal year 2012, ending 31 December 2011, electronics company Siemens achieved increased revenue and claimed it laid the cornerstone for future growth, despite the difficult economic environment.

Thanks to a strong order backlog, revenue for the first quarter rose two per cent to €17.9bn (£14.9bn), compared to the same period a year earlier, while new orders declined five per cent, to €19.8bn, year-over-year.

Profit was below the prior-year level due to project delays and increased investments.

The book-to-bill ratio for the first quarter was 1.11, while the order backlog reached €102bn.