GE Confirms Double-Digit Earnings Growth Outlook
In a news release and in advance of an investor meeting held today (3/7/12) in Rio de Janiero, GE vice chairman John Rice confirmed GE’s 2012 outlook and expectations for continued double-digit revenue growth in its global growth regions in 2012 and 2013.
Rice also confirmed GE’s 2012 total company framework of double-digit earnings growth from its industrial and capital segments. GE said total company results are being driven by strong organic revenue growth in its infrastructure businesses, improvements in GE Capital’s real estate portfolio and growth from GE Capital’s higher margin businesses.
“GE has doubled revenues in twenty-seven countries in five years and our global revenue has expanded to more than 55% of our total industrial revenues. Approximately 66% of our record $200 billion backlog comes from global markets and over half from the growth regions,” Rice said. “We have established a significant foundation for continued growth, not only in the BRIC countries, but also in markets positioned for the next generation of growth. By 2025, these growth markets will constitute 50% of world GDP.”
GE said it anticipates 20-25% growth in resource rich regions such as Latin America, Australia & New Zealand, the Middle East and Africa. GE expects 10-15% growth in rising Asia – China, India and the Association of Southeast Asian Nations (ASEAN). In 2011, GE’s revenue grew in China by 29%, in Latin America by 36%, in Sub-Saharan Africa by 14%, and in Australia & New Zealand, by 67%.
To read the full GE news release, click here.