Siemens Says Investment In R&D Rises In FY13 - Update

(RTTNews) - German conglomerate Siemens AG (SI) Thursday announced that despite a demanding environment, it has made more investment in its research and development in the just-completed fiscal year 2013.

Expenditures on Research and Development were 4.3 billion euros in the fiscal year, about 50 million euros more than last year, and totaled 5.7 percent of revenue, up from 5.5 percent in fiscal 2012. The company had 29,800 R&D employees worldwide, more than a third of whom were in Germany.

In addition, the firm noted that the number of patents granted in continuing operations increased five percent year-over-year to 60,000 in fiscal 2013.

Twelve Siemens researchers and developers, who together account for around 600 invention disclosures and 500 granted individual patents, played a leading role. They were honored by Siemens as 'Inventors of the Year 2013', in Munich on December 4, the company noted.

"The technological expertise and knowhow of the Siemens inventors contribute substantially to our company's success," said Klaus Helmrich, the member of Siemens' Managing Board responsible for Human Resources and the company's Chief Technology Officer at the awards ceremony.

Siemens stated that it has been presenting the award for 'Inventor of the Year' annually since 1995 to outstanding in-house researchers and developers whose inventions contribute significantly to the company's success.

For the fiscal year ended September 30, the company's revenue from continuing operations were 75.9 billion euros, and income from continuing operations totaled 4.2 billion euros.

On Frankfurt's Xetra, Siemens shares are currently trading at 94.36 euros, up 0.19 percent. The shares closed Wednesday's trading at $128.27 on the NYSE.