Siemens Taiwan expects revenue growth to gather pace this year, benefiting from an uptrend in demand for its energy management solutions from local semiconductor companies and machine tool manufacturers, which were hit hard by the COVID-19 pandemic.
Revenue last year beat expectations as business activity returned to normal, thanks to the government’s fast and appropriate response to contain the pandemic, Siemens Taiwan president and chief executive officer Erdal Elver said on Tuesday in Taipei.
“Overall, we had a good year, backed by growth in different sectors, such as semiconductors and infrastructure,” Elver said. “We did better than planned.”
Photo: Lisa Wang, Taipei Times
Siemens Taiwan said that increased demand from local semiconductor companies helped offset declines in other sectors, mainly customers in export-oriented sectors such as machine tool companies, which slumped due to the pandemic.
Elver did not disclose the company’s growth rate last year, but the firm usually uses the nation’s economic expansion forecast as a benchmark.
“This year will be better than last year,” Elver said.
“We still benchmark Taiwan’s GDP [as our goal this year],” Elver said. “If Taiwan grows, we have to keep growing.”
GDP is forecast to expand at a faster rate of 4.64 percent this year, after posting a better-than-expected 3.11 percent growth last year, Directorate-General of Budget, Accounting and Statistics (DGBAS) data showed.
“Energy management and infrastructure should grow faster than last year. Also, industry is recovering,” Elver said. “If you look at Taiwan, [you would] see growth in semiconductors, electronic parts and goods, and industry, especially, machine tools.”
As a growing number of local firms, such as Taiwan Semiconductor Manufacturing Co (台積電), are moving to carbon neutrality and looking to renewable energy, Siemens has the technology and solutions to help them reduce emissions, Elver said.
In the infrastructure segment, Siemens last year provided Taiwan Power Co (台電) with its energy IP, a smart meter management system, with more than 3 million smart meters being installed across the nation by next year.
The smart meter management system ensures the stability of renewable energy power transmission and smart electricity transmission and distribution, the company said.
Siemens Taiwan derives its revenue from five categories: digital industries, smart infrastructure, mobility, health and energy management.
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