Fujitsu Siemens Reports 8 Million Profit (Euro) for Fiscal 2002

5/20/2003 - Fujitsu Siemens Computers achieved a profit before tax (pbt) of 8 million for the 2002/2003 financial year running from April 2002 to March 2003, against the CeBIT forecast (March 2003) of a pbt of 4 million. Revenue was nearly flat at 5,337 million, compared to 5,434 million in the previous year. The final numbers are an update to the preliminary financial results announced at CeBIT 2003.

The company achieved an operating profit of 63 million for the full financial year, an improvement of 33 million over the previous year and of 7 million over the CeBIT forecast. Restructuring costs increased slightly from 52 million (CeBIT forecast) to 55 million.

"This positive result in the current difficult market shows that we are on the right path," said Adrian v. Hammerstein, CEO of Fujitsu Siemens Computers. "We achieved a better product mix with more sales in enterprise products in February and March which helped increase pbt. Additionally, our strategy implementation and tight cost management have continued to positively impact the company."

Market data for Q1/2003 confirm successful performance
Fujitsu Siemens Computers outperforming the market is also confirmed by IDC market data for the first quarter of calendar year 2003. Against a market decline of 2.4 per cent in Western Europe, Fujitsu Siemens Computers achieved a revenue growth of 5.7 per cent year on year in the PC and Intel-based server segment. Key countries like France and the UK continued to outperform their shrinking markets by double digit growth rates. Germany has extended its position as market leader with a revenue growth of 20 per cent in the PC and Intel-based server segment against a market that declined by 7 per cent.

Fujitsu Siemens Computers' focus on Mobility and Business Critical Computing was also confirmed by market data in the first quarter of 2003. In the notebook segment, the company more than doubled the market growth for Mobility across EMEA and Western Europe with revenue growths of 36.9 per cent and 34.7 per cent respectively against market growth figures of 14.7 and 13.0 per cent.

Outlook: further performance ahead of market
For the upcoming financial year, Fujitsu Siemens Computers intends again to grow ahead of the market and will move forward with its strategy implementation. The company's goal is to continue outgrowing the market while improving profitability.

Adrian v. Hammerstein on the current market situation: "We are still in a difficult environment. Markets continue to shrink and policies in some of the large European countries are not going to enhance an economic recovery or make it happen more quickly. However there are some small developments in the right direction: after the burst of the Internet boom in 2000, IT was seen as a 'cost' factor. Companies are now good at cutting costs, so it is time to make investments for the upturn. It is important that IT moves back on to CXO agendas as a strategic decision. Investing now could provide a competitive advantage."

About Fujitsu Siemens Computers
Fujitsu Siemens Computers is the leading European computer company, supporting customers' growing demands for Business Critical and Mobility solutions. The company draws on the strengths and innovation of its parent companies - Fujitsu Limited and Siemens AG - who have a joint R&D spend equivalent to 9 billion per year. Fujitsu Siemens Computers provides its customers with one of the industry's most comprehensive IT product ranges - from PDAs through to the data centre - giving them the choices they need to make real IT infrastructure savings. The company offers Solaris-based PRIMEPOWER UNIX servers for the data centre, best-in-class PRIMERGY Intel-based systems, and a full range of enterprise storage solutions. Fujitsu Siemens Computers is also one of the leading providers of professional PCs, workstations and secure mobile computing products - including PDAs, notebooks and Tablet PCs - to business customers, and is Europe's leading supplier of PCs for home users and small offices.

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