GE Releases 2015 Annual Report

The Digital Industrial and the Next Great Wave of Productivity

FAIRFIELD, Conn.--(BUSINESS WIRE)-- GE [NYSE:GE] today released its 2015 Annual Report titled “Digital Industrial,” available at www.gereports.com/ar2015. In his letter to shareowners, GE Chairman & CEO Jeff Immelt discusses the importance of leading what he believes will drive the “next great wave of productivity.”

“We are a company that invests in broad industrial transitions, and they don’t come much bigger than the full application of data and analytics to machines and systems," Immelt writes. “In the next 15 years, trillions in wealth will be generated across the Industrial Internet. My commitment to you is that GE will be better positioned than any rival to create that value and earn those rewards.”

This year the Annual Report features memo excerpts from each of GE’s business CEOs on what becoming a Digital Industrial means for their industries. The full version of these memos will be released in the coming days on the Annual Report website.

The investment in software and analytics comes at a time where the company has rapidly simplified its portfolio. “We have done a better job of being our own activist,” writes Immelt. “Few companies can match our record of bold change.”

On the current environment, Immelt notes “Some say we are in an ‘industrial recession,’ but I don’t really know what that means. I learn more from what I see in individual markets and hear from customers. Growth is available, but you have to work at it.

“We don’t try to pick a cycle, or time a market, or complain about elections. We will always act to get more out of this economy than our peers. We believe in self-help.”

This report also features a letter from Immelt’s “Global New Directions Team,” a team of front-line managers who advise the CEO on GE’s culture. “I have assembled a group of young leaders, whom I meet with frequently, to help me see GE through their eyes. It is my dream that every young person should want to come to work at our great company. I will never give up that dream,” Immelt says.

Distribution of printed Annual Reports and proxy statements begins this week in preparation for GE’s annual shareowners meeting on Wednesday, April 27, 2016 in Jacksonville, Florida.

About GE

GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com

GE’s Investor Relations website at www.ge.com/investor and our corporate blog at www.gereports.com, as well as GE’s Facebook page and Twitter accounts, including @GE_Reports, contain a significant amount of information about GE, including financial and other information for investors. GE encourages investors to visit these websites from time to time, as information is updated and new information is posted.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS:

This document contains "forward-looking statements" – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," or "target." Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about our announced plan to reduce the size of our financial services businesses, including expected cash and non-cash charges associated with this plan; expected income; earnings per share; revenues; organic growth; margins; cost structure; restructuring charges; cash flows; return on capital; capital expenditures, capital allocation or capital structure; dividends; and the split between Industrial and GE Capital earnings. For us, particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include: obtaining (or the timing of obtaining) any required regulatory reviews or approvals or any other consents or approvals associated with our announced plan to reduce the size of our financial services businesses; our ability to complete incremental asset sales as part of that plan in a timely manner (or at all) and at the prices we have assumed; changes in law, economic and financial conditions, including interest and exchange rate volatility, commodity and equity prices and the value of financial assets, including the impact of these conditions on our ability to sell or the value of incremental assets to be sold as part of our announced plan to reduce the size of our financial services businesses as well as other aspects of that plan; the impact of conditions in the financial and credit markets on the availability and cost of GE Capital Global Holdings, LLC’s (“New GECC”) funding, and New GECC's exposure to counterparties; the impact of conditions in the housing market and unemployment rates on the level of commercial and consumer credit defaults; pending and future mortgage loan repurchase claims and other litigation claims in connection with WMC, which may affect our estimates of liability, including possible loss estimates; our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so; the adequacy of our cash flows and earnings and other conditions which may affect our ability to pay our quarterly dividend at the planned level or to repurchase shares at planned levels; New GECC's ability to pay dividends to GE at the planned level, which may be affected by New GECC's cash flows and earnings, financial services regulation and oversight, and other factors; our ability to convert pre-order commitments/wins into orders; the price we realize on orders since commitments/wins are stated at list prices; customer actions or developments such as early aircraft retirements or reduced energy demand and other factors that may affect the level of demand and financial performance of the major industries and customers we serve; the effectiveness of our risk management framework; the impact of regulation and regulatory, investigative and legal proceedings and legal compliance risks, including the impact of financial services regulation and litigation; our capital allocation plans, as such plans may change including with respect to the timing and size of share repurchases, acquisitions, joint ventures, dispositions and other strategic actions; our success in completing, including obtaining regulatory approvals for, announced transactions, such as the Appliances disposition and our announced plan and transactions to reduce the size of our financial services businesses; our success in integrating acquired businesses and operating joint ventures; our ability to realize anticipated earnings and savings from announced transactions, acquired businesses and joint ventures; the impact of potential information technology or data security breaches; and the other factors that are described in "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2014. These or other uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

This document includes certain forward-looking projected financial information that is based on current estimates and forecasts. Actual results could differ materially.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160229006069/en/

Media:
Seth Martin, 203.572.3567
[email protected]

Source: GE

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