In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, to transform the everyday for billions of people. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. Siemens AG (Berlin and Munich) is a technology company focused on industry, infrastructure, transport, and healthcare. As part of its updated Financial Framework, the company is committing to a progressive dividend policy. Siemens is lifting its target for the cash conversion rate to the Group level to make the overall accountability clear. In addition, the company will continue to rigorously pursue the goal of converting profit into free cash flow. From a relative perspective, therefore, pre PPA EPS is to grow faster than revenue. Earnings per share before purchase price allocations (EPS pre PPA) are to grow at an annual rate in the high-single-digit percentage range.
As a result, the company plans to grow at a rate that clearly outpaces the market. Siemens is aiming, among other things, to achieve comparable annual growth of 5 percent to 7 percent (previously: 4 percent to 5 percent) for Group revenue over its business cycle of three to five years. Siemens also presents an updated Financial Framework that, beginning in fiscal 2022, will set even more ambitious financial targets while providing more transparency and clarity.
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