About us

The strategy and business model to reach our targets

The world has changed a lot since we were founded in 1873. Perhaps more so than during any other period of equal duration. From steam engines back then to our many technologies today, we have adapted to the changing needs of our customers, other stakeholders and society. So what is next for us?​

Our focus

We have over 150 years of experience in developing technology that society needs to function seamlessly. This experience, in combination with our focus on building strong relationships, means that we know our stakeholders well. 

While we are proud of our past achievements, we continue to strive towards new heights. As we are committed to our mission and ambitious targets, we also have a clear strategy.

This strategy is based on our vision (to become and remain First in Mind—First in Choice) and mission (to achieve sustainable, profitable growth).

Innovation

As part of our strategy, we improve our customers’ productivity and support their success, by developing new products and solutions that are critical to their operations. Energy efficiency, connectivity and data-driven insights are often key to creating value for our customers.​

This continuous innovation is made possible by our leading and differentiated technologies – along with significant investments in research and development.

A large component of a Quantum computer surrounded by wires

Energy efficiency, connectivity and data-driven insights are often key to creating value for our customers.​

Presence

We create lasting growth by leveraging our global market presence and diverse customer base. To increase our market presence, we leverage innovation and expand into segments and technologies close to our core. The Group identifies profitable niches and operates in selected market segments. 

Depending on the customer, products, and market, we sell our products directly or indirectly – and sometimes under different brands from our brand portfolio.

We think it is best to keep production close to our customers. That is why you can find our production units in Europe, Asia and the Americas. Always looking to exceed expectations, we strive for improved operational efficiency with responsible use of resources. 

People

To ensure our strategic direction and execution, we rely on highly competent people who are passionate about their jobs and committed to delivering customer value. We focus on attracting people with the right mindset and skills, and enable them to grow with freedom and accountability. This is crucial to our success.

A man in glasses and safety goggles is smiling slightly while looking at a piece of technology.​

We focus on attracting people with the right mindset and skills, and enable them to grow with freedom and accountability. 

Service

In our resilient service business, we seek to perform more service on a higher share of the installed base of equipment and extend our service offering by giving customers new insights supported by connected products.

Resilience

Our agile approach allows us to adapt quickly when things change – providing built-in resilience for our business.

In a good business climate, we are able to add resources and working capital while making incremental investments. Conversely, in a deteriorating business climate we can reduce variable costs and working capital. This is thanks to our asset-light operations and profitable aftermarket service business.

In order to create the right conditions for speed and agility, we use a decentralized model with clear accountability, an outsourced production model, a flexible workforce, continuous scenario planning, and a transparent organization with comprehensive financial follow-up.

Strategy and fundamentals for growth

Our vision is to become and remain First in Mind—First in Choice of our customers and other stakeholders. Our mission is to achieve sustainable, profitable growth.

This means that we should continuously deliver profitable growth with an increased positive impact on society and the environment, while promoting diversity and inclusion. It also means that we include the perspectives of different stakeholders, like customers and society, when we create value.

  • Leading position in selected end markets 
  • Leading differentiated technology
  • Products critical to customers’ operations
  • Global market presence
  • Diverse customer base 
  • Different value propositions with multiple brands
  • Passionate and committed people
  • Decentralized business model
  • Resilient and asset light
  • Operational excellence
  • An organization focused on speed and agility 
  • Leading service offer
  • Defined profitable niches

 

Illustration with the fundamentals for growth (the same as in the list on this page) pointing to our misson to achieve sustainable, profitable growth.

Our Group targets

Part of an effective strategy is knowing what we are working towards. For us, the Group targets are just that. ​

Our Group targets reflect our mission of achieving sustainable, profitable growth. Focusing on the areas where we make the largest impact – and where we see significant risks or opportunities – allows us to get the most out of our efforts.​

In the end, working towards our targets is an opportunity for us to deliver value to our stakeholders, build business resilience and take responsibility for managing our environmental and social impact.​

Strategy

Group targets

We set ambitious targets to achieve sustainable, profitable growth. Sustainability is a central part of our mission, strategic direction and targets. This helps us deliver greater value to all stakeholders in a way that is economically, environmentally and socially responsible.
Colleagues working on low-carbon technologies at office desk.