Transcription of Siemens Report
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Siemens Report
Siemens ReportFOR FISCAL 2021 Table of contentsCombined Management ReportConsolidated Financial StatementsResponsibility Statement ( Siemens Group)Independent Auditor s Report ( Siemens Group)Annual Financial Statements Responsibility Statement ( Siemens AG)Independent Auditor s Report ( Siemens AG)Five-Year SummaryCompensation Report (including Auditor's Report ) Report of the Supervisory BoardCorporate Governance Statement Notes and forward-looking statementsCombined Management Report FOR FISCAL 2021 Table of contentsCombined Management of the Siemens Group and basis of presentation Financial performance systemSegment informationResults of operationsNet assets positionFinancial positionOverall assessment of the economic positionReport on expected developments and associated material opportunities and risksSiemens AGTakeover-relevant informationCombined Management Report31.
2.3 Profitability and capital efficiency Within the Siemens Financial Framework, we aim to achieve margins that are comparable to those of our relevant competitors. Therefore, we have defined profit margin ranges for our industrial businesses which also consider the profit margins of their respective relevant competitors.
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