Voith Maintains Status Quo Despite Difficult Environment

Press Release
Wednesday, December 12, 2012
Voith Water Tractor: Photo credit Voith

Voith Group reports on financial results at end of fiscal year year 2012 (ending September 30, 2012).

Report highlights:

•    Third best operational result in company history despite difficult business environment at Voith Paper
•    Sales rise by 2 percent to EUR 5.7 billion
•    As expected, orders received below record value of the previous year
•    Important orders in America
•    Investments significantly increased by nearly one third

The Voith Group has finished the fiscal year 2012 satisfactorily in a challenging market environment. The globally active family-owned company increased its Group sales by 2 percent to EUR 5.7 billion compared to the record value of the previous year. With EUR 5.7 billion, orders received were behind the excellent value of last year amounting to EUR 6.4 billion (-10 percent), which, among other things, was due to an extraordinarily high volume of major orders from the hydro power market. At EUR 6.1 billion per September 30, 2012, orders on hand were slightly above the previous record level (2011: EUR 6.0 billion).

"The year 2011/2012 has presented Voith with massive challenges. We have worked intensively on our profitability and our future growth, and laid crucial foundations to ensure that Voith can continue to grow profitably," said Dr. Hubert Lienhard, President and CEO of the Corporate Management Board of Voith GmbH at the company's Balance Sheet Press Conference.

According to Dr. Hermann Jung, Chief Financial Officer of Voith, one of the key reasons for the stable business development despite this challenging market environment is the Group's broad portfolio. "We can offset declining sales in individual markets. Because we serve five core industries that follow different cycles: energy, oil & gas, paper, raw materials, transport & automotive. This portfolio has allowed us to grow during the economic crisis in 2009. We were also able to cushion the noticeable slump in the market for graphic paper machines," stated Jung.

In view of the ongoing difficult framework conditions, such as the Euro debt crisis, an uncertain capital market environment and subdued economic prospects on all major markets and industries, Voith anticipates that 
developments in 2013 will continue to be restrained.

 

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

BAE Systems to Expand San Diego Shipyard

BAE Systems announced it will invest approximately $100 million to expand drydocking capabilities at its San Diego shipyard.   The investment, which will include

TDDCL Seeks Input for New Repair Yard

Trinidad Dry Dock Company to develop new ship repair yard at Port of Spain; company requests Expressions of Interest for Environmental Impact Assessment and Geotechnical

NORDEN CEO: Bulk Market Challenges to Continue

Klaus Nyborg, interim CEO at Denmark-based dry bulk and product tanker shipping company Dampskibsselskabet NORDEN A/S, expects difficult dry cargo market conditions

Finance

NORDEN CEO: Bulk Market Challenges to Continue

Klaus Nyborg, interim CEO at Denmark-based dry bulk and product tanker shipping company Dampskibsselskabet NORDEN A/S, expects difficult dry cargo market conditions

Turkey Maritime Sector Alive & Kicking

Located on the periphery of two great continents, Turkey has benefitted from being in a favored position right at the center of an assertive and fast growing economic area.

Advanced Drillships a Burden for Owners as Business Slows

Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators.

 
 
Maritime Contracts Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2076 sec (5 req/sec)