Siemens lifts profit goals under new Vision 2020+ strategy

MUNICH (Reuters) - Siemens unveiled its new Vision 2020+ strategy on Wednesday - a move designed to boost the German engineering group’s profitability in an era where sprawling conglomerates are increasingly unloved by investors.

The overhaul - which sees its five industrial divisions combined into three operating companies - is designed to simplify the trains to turbine company and make its structure leaner.

Under the changes Siemens said it expects to increase the annual growth rate and profit margin of its industrial business by two percent over the medium term, while basic earnings per share are expected to grow at a faster rate.