Siemens seeks faster growth in smart buildings
Siemens want to grow its building technologies business fater than overall construction market year.
The business has its head office in Zug, Switzerland. It makes devices and software to control the heating,lighting, energy use and security in so called smart buildings.
The business’ chief executive Matthias Rebellius said he expected the overall construction market to grow by around 3 percent next year. Also the company is expected to open an office building and production area on Wednesday after investing $ 343 million.
During Siemens’ 2018 financial year, the building technology business’s profit slipped to 755 million euros from 784 million a year earlier, while its sales rose 6 per cent to 6.6 billion euros. It achieved a profit margin of 11.4 per cent, above its target range of 8 to 11 per cent.
Next year, it will be folded into a new division called Smart Infrastructure. It taking in parts of Siemens’ energy management and digital factories businesses, with a higher profit goal.
Source: Business Time
Fulya Altunyay/ [email protected]