MEMBER NEWS

Siemens Hrvatska ended the fiscal 2011 (started with October 1, 2010 and ended with September 30, 2011) with revenues of 975.0 million kuna, compared with 917.2 million kuna recorded in 2010. In the same period the company recorded new orders worth 1,051.3 million kuna, while they were at 967.7 million kuna a year earlier. Siemens realized profit before taxes worth 7.4 million in 2011, compared with 2010 in which profit before taxes amounted to 47.7 million kuna. This profit drop is the mostly the result of the decrease of claims’ value due to customers’ illiquidity.