© Siemens

Siemens consolidated financial statements: The result from Siemens Energy investment includes the share of its profit after tax and, in addition, amortization of assets resulting from the purchase price allocation due to the initial recognition of the investment at fair value in September 2020. Central items with a positive change, mainly due to a revaluation gain of € 260 million from the stake in Thoughtworks as part of the IPO in the USA. This was offset by charges of EUR 60 million from changed estimates in connection with provisions for a legacy project; expenses for personnel restructuring amounted to EUR 25 million (Q4/2020: EUR 22 million)