SIEMENS AG is anticipating a decline in business volume this year but will continue to strive to increase profitability and achieve the company's targeted margins, said its executive vice-president Prof Klaus Wucherer.
Wucherer, who is also chairman of the company's Asia operations, expects 2003 to be a year of challenges for Siemens group. He said the economic climate would be affected by political uncertainties in the Middle East, South America and other regions, thus affecting international capital markets.