General Electric Co. (NYSE: GE) is reaffirming its plan for continued double-digit sales gains in 2012 at Wednesday’s investor meeting discussing its global outlook and long-term global growth plans. As far as the double-digit growth, this is listed as “continued double-digit revenue growth in its global growth regions in 2012 and 2013.”
The company has doubled revenues in twenty-seven countries in five years and it now notes that global revenue accounts for more than 55% of its total industrial revenues.
About 66% of GE’s $200 billion backlog comes from global markets, and over half of the total is from GE’s growth regions.
GE even gave a target that the global growth markets will constitute 50% of world GDP by he year 2025.
GE anticipates 20% to 25% growth in Resource Rich regions such as Latin America, Australia & New Zealand, the Middle East and Africa. GE sees 10% to 15% growth in Rising Asia – China, India and the Association of Southeast Asian Nations.
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%.
GE still plans to grow its dividend at roughly the same rate as income.
JON C. OGG