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

People & Company News

5th Floating Accommodation for Lerwick

A further accommodation ship, Ocean Atlantic, is due at Lerwick on Monday 27 April 2015 and is on its way from Portland in Dorset. As with the other floating accommodation at the port,

Double Order for Super Gloria Reachstacker

Kalmar, part of Cargotec, has gained an order for two Super Gloria reachstackers from Tadarsa Logistics S.L. in Aviles, Spain. The largest reachstackers ever built,

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

Finance

Norwegian Car Carriers to Buy Two from Hyundai Samho

Oslo-listed Norwegian Car Carriers (NOCC) has signed a contract with Hyundai Samho Heavy Industries for the construction of two 6500 ceu Pure Car Truck Carrier (OCTCs).

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Venezuela Probes ex-minister accused of corruption in Ferry Deals

A former minister in President Nicolas Maduro's government denied in an interview published on Friday accusations of corruption during the purchase of three

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair
rss | archive | history | articles | privacy | 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: 0.2101 sec (5 req/sec)