Siemens got off to a good start in fiscal 2009 despite challenging market conditions. Revenue rose 7% to €19,634 billion in the first quarter, which ended on 31 December, 2008. Orders continued to exceed revenue, at €22,220 billion, but declined 8% compared to the record high first quarter a year earlier.

Total sectors profit climbed 20%, to €2,005 billion, and net income was €1,230 billion in the first quarter. In spite of the adverse economic conditions, the company is sticking to its income goals for fiscal 2009, with total sectors profit targeted to reach €8,0 to €8,5 billion.