Siemens eyes 40 billion euro of green revenue by 2014

Shareholder of German industrial conglomerate Siemens arrive for the company's annual shareholders meeting in Munich January 26, 2010. REUTERS/Michaela Rehle

MUNICH/FRANKFURT (Reuters) - Siemens aims to generate sales of more than 40 billion euros ($56 billion) from its green technologies and products by 2014, Europe’s biggest industrial conglomerate said on Monday.

It said revenue from environment portfolio was around 28 billion euros in its fiscal year to Sept 30, 2010 compared with slightly less than 27 billion euros the year before.

A bellwether of the euro zone’s largest economy, Siemens has achieved earlier than planned its original target of generating green revenue of at least 25 billion euros in 2011.