The strategy and business model to reach our targets

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).

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.

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. 

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.

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.

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.