Siemens establishes a new direction for the company's development. By accelerating business growth, improving profitability and streamlining organizational structure, Siemens aims to create value in the long run. The main objective of the "Vision 2020+" strategy is to give the company greater freedom in its business, to operate independently under the powerful Siemens brand, and to focus more on the development of their respective markets. The strategy also includes investing in new growth areas such as Internet of Things integrated services, distributed energy management and electric transport infrastructure to enhance the company's growth-oriented business. Siemens is already a global leader in industrial digitalization. Centralized expansion in this area will also further promote the development of growth-oriented business. Therefore, the annual average revenue growth rate and profit margin of corporate entities are expected to increase by two percentage points in the medium term. Compared with revenue, basic earnings per share is expected to grow faster in the medium term.

Siemens released the strategic plan of "Vision 2020" in 2014, which has been basically completed, and the implementation speed and results exceed expectations. "Over the past four years, we have worked together," said Joe Kaeser, president and CEO of Siemens. Today, the profitability of almost all our businesses has improved significantly, customer satisfaction has reached a record high, and our digital factory group has become the market leader in the field of industrial digitization.

Jim Hagemann Snabe, chairman of Siemens Board of Supervisors, said: "The Board of Supervisors supports the company's future strategic development and firmly believes that'Corporate Vision 2020+'is an outstanding plan that will accelerate the transformation of the company and further consolidate its dominant position in the next decade."

Kaihao believes that for enterprises, it is advisable to prepare for rain and dig wells without thirst. "It would be irresponsible if we were complacent and didn't want to make progress," he said. With the increasing speed and intensity of global change, it is our duty to foresee this trend. We firmly believe that this is the right time for us to shape our future in a sustainable way." In his view, digitization, often referred to as the Fourth Industrial Revolution, is the greatest change in industrial history.

"It's not the biggest companies that can survive, but the most adaptable ones. For this reason, we will further deepen our understanding of Ownership Culture and give our businesses unprecedented responsibility for self-operation. This also includes the direct allocation of business-related functions." Kai Hao said. In addition, the development trends of electric transportation and distributed energy systems have also brought profound changes to the market structure of the company. Siemens also strives to take advantage of these changes and lead them.

Kaihao firmly believes that "Corporate Vision 2020+" will integrate the interests of all parties concerned. "We will support our customers in a more efficient and professional way and provide them with advice to help them achieve their goals -- not just in the digital field," he said. For our employees, the next generation of Siemens will provide broader personal development space, greater creative freedom and more opportunities to take responsibility. Our investors will also benefit because we will do our best to support our business as industry leaders in their respective markets. And a stronger Siemens will better fulfill its social responsibility.

New Organizational Architecture: Greater Freedom of Autonomous Operation - Reducing Centralized Management

The new organizational structure of the company aims to give the company greater freedom of independent operation for its various businesses. To this end, the existing Division hierarchy will be abolished, the regional organizational structure will be more customer-oriented adjustment, and the company headquarters will be more streamlined. "Through the continuous development of the company's strategy, we are building the next generation of Siemens. Siemens will be more powerful and flexible by weakening the management from headquarters and releasing more autonomous space to business. Kai Hao said.

The company will have three "operating companies" and three "strategic companies". This adjustment will enable Siemens to focus more on its customers and operate according to the specific needs of its industry. "In the past, project businesses, products, software and service enterprises have different needs, but they can still achieve centralized and effective management," Kaihao said. Now, this era is over."

The new organizational structure will take effect at the beginning of the new financial year (October 1, 2018). The implementation will be carried out step by step and is scheduled to be completed by 31 March 2019. At present, most of the business of Building Technology Group, Energy Management Group, Generation and Natural Gas Group, Digital Factory Group and Process Industry and Drive Group will be merged into three new operating companies. The business departments of the existing business groups will also be reorganized around the core business and integrated into three operating companies.

Operating companies:

Natural Gas and Power Generation (GP)

· Headquarters: Houston, Texas, USA

· CEO: Lisa Davis

· Chief Operating Officer: Tim Holt

· Chief Financial Officer: Michael Becker

· The natural gas and power generation business has 71,000 employees worldwide, with revenue of about 21 billion euros and profit margin of about 9% in fiscal year 2017.

Intelligent Infrastructure (SI)

· Headquarters: Chug, Switzerland

· CEO: Cedrik Neike

· Chief Operating Officer: Matthias Rebellius

· CFO: Axel Meier

· The smart infrastructure business has 71,000 employees worldwide, with revenue of about 14 billion euros and profit margins of about 11% in FY2017.

Digital Industry (DI)

· Headquarters: Nuremberg, Germany

· CEO: Klaus Helmrich

· Chief Operating Officer: Jan Mrosik

· CFO: Maria Ferraro

· The digital industry business has 78,000 employees worldwide, with revenue of 14 billion euros and profit margin of 16% in fiscal year 2017.

The CEO of the newly established operating company will continue to serve as a member of the Siemens Management Committee.

"Strategic Company" will include Siemens Medical and Siemens Gemeihao Renewable Energy Company. Both companies are consolidated financial statements companies, with Siemens accounting for the majority of shares. Before the planned merger with Alstom is completed, the Strategic Company will also include Siemens'transportation business.

At present, Siemens Financial Services Group will form a "service business company" with Global Business Services Group and Real Estate Asset Management Group. By optimizing Siemens service business portfolio, efficiency will be greatly improved.

Siemens Institute of Central Research and SMEs will be unified under the "enterprise development" to achieve centralized management.

Small and medium-sized enterprises (SMEs) include not only the shares held by the centralized management portfolio (CMPA), but also the operations mainly from the current process industries and driving groups. In addition, SMEs also include Siemens Post, Parcels and Airport Logistics Limited, which currently belongs to the centralized management portfolio, and the submarine energy business of the Energy Management Group. SMEs currently have about 21,000 employees, with a total revenue of about 5 billion euros and a net loss of more than 300 million euros in fiscal year 2017. SMEs are expected to achieve a 5% profit margin by 2023. Jochen Eickholt will lead SMEs.

In the future, the company headquarters will be greatly streamlined, and some functions and employees will be transferred to other business departments. Headquarters will focus on core functions, including finance, corporate governance and market, legal and compliance matters, human resources and communication.

Expanding Digital Business

Acquisition of mendix and entry into the Internet of Things integrated service market will enable Siemens to significantly enhance its market leadership in the field of industrial digitization. Mendix is a pioneer and leader in the field of low-code application development platform. In particular, mendix technology can increase the speed of programming and deploying applications up to ten times. Relying on this speed advantage, this technology can not only help Siemens MindSphere customers greatly improve the development speed of their applications, but also significantly reduce costs. The acquisition price is 600 million euros. The deal is pending regulatory approval and is scheduled to be completed in the first quarter of fiscal year 2019.

Siemens is expanding its Internet of Things platform products through the newly established Internet of Things Integration Services business sector, thus providing comprehensive support for the digital transformation of customers. Based on the industry experience accumulated over the years in a wide range of business areas and leading technologies such as artificial intelligence and network information security, Siemens plans to provide consulting, design, prototype development and implementation services to customers. It is expected that the annual growth rate of the Internet of Things integrated service market will reach 10% to 15% by 2025. Siemens plans to employ about 10,000 employees in this field by 2025.

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