Siemens recorded a turnover of over RON 1 billion in 2018, up 22 percent

Siemens, one of the leading technology companies, registered a consolidated turnover of over RON 1 billion in the fiscal year 2018 (1.10.2017-30.09.2018) in Romania. “Our financial results prove once again that we run a sustainable business in Romania. The aggregate turnover of local Siemens companies in Romania registered an increase of over 22 percent in FY 2018, compared to the previous financial year”, said Titus Loew, CFO Siemens Romania, according to Business-Review.eu.

The increase was mainly driven by the investments in energy and rail infrastructure, but also by robust results of the industrial automation.

“2018 was marked by the completion of some important projects, but also by securing new contracts, including in the Republic of Moldova. We see development potential in all of our business areas, mainly due to two major trends. Firstly, we see an increase in digitalization that creates new business models and enhances the demand for flexible solutions that will allow companies to rapidly adapt to fast changing market conditions. An example is the production sector, where we have been discussing for some years now about a new industrial revolution. The second factor is the increased dynamics of railway and energy infrastructure investments, vital sectors for a sustainable development of Romania, where we have been seeing a positive trend in the last years”, said Cristian Secosan, CEO of Siemens Romania and Republic of Moldova.

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