Fujitsu Siemens Computers closes financial year

The results reflect FSC's success in outperforming the markets and established IT players, including the Middle East, where the company has been making significant inroads despite its relatively recent entry in the regional market.

The results for the financial year ending March 2003 have surpassed the CeBIT 2003 forecast of gross profit of Euro 4 million. Total revenue for the period under review remained flat at Euro 5,337 million, compared to Euro 5,434 million in the previous financial year. The company achieved an operating profit of Euro 63 million for the complete financial year, an improvement of Euro 33 million over the previous year.

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

"The success of Fujitsu Siemens Computers in dislodging established players and outperforming the market is best seen in the Middle East where we have emerged as the No. 4 IT vendor in just two years of operations," said Dirk de Waegeniere, Vice President, International Sales. "In the calendar year 2002, FSC recorded an overall growth of 53 per cent in the Middle East. The return of buoyancy to the IT market after the Iraqi crisis, coupled with FSC's dynamic new strategies for the region, point to a high success performance in 2003."

FSC's success in outperforming the market can be seen in the IDC market data for the first quarter of 2003. Against a market decline of minus 2.4 per cent in Western Europe, FSC achieved a revenue growth of 5.7 per cent year on year in the PC and Intel-based server segment.

FSC's focus on the parallel strategies of Mobility and Business Critical Computer continued to drive its growth in key markets, including the Middle East, as witnessed by record gains in mobile PCs in the UAE and Saudi Arabian markets. In the UAE, FSC recorded a growth of 345 per cent in mobile products, and in Saudi Arabia it saw a 320 per cent increase in notebook PCs.

"We have put in place focused strategies, keeping in mind the region's needs, preferences and priorities," said de Waegeniere. "We will continue to be driven by the company's goal to outperform the market while improving profitability. The Middle East is poised at a crossroad where the government and businesses are driving the IT growth, because of the resolve to stay en par with the rest of the world."