“In view of the deepening crisis in the world economy, we are satisfied with our results in the second quarter. We did particularly well compared to our competitors,” commented Peter Löscher, President and CEO of Siemens AG. “The Energy and Healthcare Sectors continued their strong run. In the Industry Sector, short-cycle businesses were again clearly weaker. We introduced measures to safeguard profitability early on. We’ve already made a strong impact with the SG&A reduction program. Additional measures, such as our supply chain initiative, have been set in motion. Therefore we go forward with the expectation of exceeding Total Sectors profit of the prior fiscal year,” said Löscher.

This photo was taken on the Press Conference and shows from left to right: Joe Kaeser, Head of Corporate Finance and Controlling and Member of the Managing Board; Peter Löscher, President and Chief Executive Officer and Barbara Kux, Head of Supply Chain Management and Member of the Managing Board.