GE 2013 Annual Report Download - page 6

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Meanwhile, Europe has stabilized;
while its expansion is anemic, the “daily
crises” have been eliminated. And,
there are pockets in the region that
are robust for GE like Germany, the
Nordic region and Central Europe.
We still see opportunities in emerg-
ing markets. China is one important
engine of growth. China has mas-
sive fi nancial strength, and we see
its reform efforts as a positive. GE
has a major role in helping China
solve its healthcare, clean energy
and transportation challenges. In
the resource-rich countries, our
prospects are bright despite a more
volatile macro-situation. GE provides
the capability for these countries to
industrialize through our technol-
ogy and localization efforts. That is
why our growth is accelerating in
regions like the Middle East, Russia
and Africa despite social and politi-
cal unrest.
The world is complicated. But, through
the fog of the last fi ve years, I would
take the 2014 economy any day. The
recovery is slow, but there are no
major headwinds. While governments
are not addressing major challenges
like immigration and regulatory
reform, there is less disruption. And,
we have the fi nancial strength to make
progress on our own.
We are positive about the future. We
have positioned GE to capitalize on
the growth themes of the era. We are
investing to lead in the new technol-
ogies that will drive effi ciency for the
Company and our customers. We are
improving our speed and lowering
our cost. We plan to deliver a valuable
fi nancial performance. We are mak-
ing progress.
We Are the World’s Most
Competitive Infrastructure
Company
Investment in infrastructure is expected
to reach $60 trillion by 2030. Success
requires technology, services and
execution delivered at scale across a
massive global footprint. With more
than $100 billion in revenue and nearly
16% margins, we are the largest
and most profi table infrastructure
company in the world. Our goal
is for infrastructure earnings to be
70% of GE’s total.
Infrastructure is essential. Countries
must invest in infrastructure to com-
pete and create jobs. For instance,
Africa has a 100 gigawatt defi cit in
electricity. Only by investing in power
generation can it sustain growth.
Fortunately, Africa is surrounded by
some of the world’s largest reserves
of oil and gas. Converting “gas to
power” is its infrastructure challenge.
Only GE can provide complete solu-
tions to solve its electricity problem.
In Africa, we are a productivity partner.
As a result, we are growing 30%
annually there.
GE has a unique advantage
because of our depth and breadth.
Customers value our technical depth.
Our products are the heart of our
customers’ operations. GE’s high-
performance locomotive improves
profi tability and safety at a railroad.
And, our unique breadth makes GE
a desirable partner. In Russia, we
are investing across fi ve business
segments. We are building local
capability to deliver local solutions.
GE is one of the largest multination-
als in the country.
LETTER TO SHAREOWNERS
GE9X ENABLING TECHNOLOGIES
2020%1010%
Versus
-300ER
Fuel
Burn
Lower Airplane Engine Only
FUEL BURN CONTRIBUTION
Blades
FAN BLADES
16
Pressure Ratio
COMPRESSOR
27:1 20%29%
Regulatory
Margin
COMBUSTOR
Less Cooling
CERAMIC-MATRIX
COMPOSITES (CMCs)
GE9X commitments to date: $25B
NOx
4 GE 2013 ANNUAL REPORT