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Siemens raises growth goals while continuing to pivot to technology

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German industrial giant Siemens On Thursday, we announced a new growth strategy. He said he would continue to pivot towards the development and development of the digital technology business.

“Digitalization, automation and sustainability are the growth engines of our business,” Roland Busch, CEO, said in a statement Thursday. “High-value growth as a focused technology company. “Accelerate”.

Siemens presented a new growth strategy to investors, and after Siemens Energy spun off in 2020, “transformation as a digital key challenge.”

“As a result, Siemens is active in the sector that forms the backbone of the global economy and offers great potential for digital transformation and sustainability. This is a major challenge in our time.”

Leveraging his technology portfolio, Siemens said, “Innovative with attractive business cases while supporting the public and private sectors in digital transformation of industrial operations, building and grid infrastructure, transportation and healthcare. Providing solutions and a carbon-neutral economy. “

Siemens said it aims to achieve its previous target of 4-5% to 5-7% equivalent annual group revenue growth over a three- to five-year business cycle.

“As a result, the company clearly plans to grow faster than the market,” the company said.

It also announced that it will launch a new five-year share buyback program of up to € 3 billion ($ 3.58 billion) starting in 2022.

Siemens raises growth goals while continuing to pivot to technology

Source link Siemens raises growth goals while continuing to pivot to technology

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