“We have done our homework. We did it more quickly than expected. That’s a great help to us now,” commented Siemens CEO Peter Löscher. “Coming out of our transition year in fiscal 2008, we confront new challenges in the macroeconomic environment. From our position of relative strength we intend to win market share profitably. Organic growth remains our focus, and despite the macroeconomic adversity we confirm our growth target. It has become clearly more ambitious to reach our income guidance for fiscal 2009. But we stick to it. As to the effects of the financial crisis on the real economy, we will assess them quarter by quarter.”