TRUMPF shows continuity in difficult environment with sales of 1.17 billion Euros
* Laser Technology and Medical Technology are growth drivers
* In recession year 2001/2002, group sales remain stable and overall earnings are high
* Profits ensure unimpeded continuation of innovation and growth concept
Ditzingen, Germany (ots) - The TRUMPF Group has ended its 2001/2002 financial year (1 July 2001 - 30 June 2002) with a good result, in the face of extremely difficult economic conditions. Consolidated sales for the group were kept close to the level of the previous year at 1.17 billion Euros (previous year: 1.22 billion Euros), representing a decline of 4.4%. Orders received were slightly below sales at 1.14 billion Euros.
The Group�'s financial year coincided fully with the global economic slowdown. While sales declined in Europe and America, TRUMPF enjoyed growth in Asia. 64% of consolidated sales were achieved outside Germany.
Sensitivity to changes in the economy reduced through strategic positioning in different technology sectors.
The Laser and Medical Technology divisions were particularly successful in the past financial year. Sales increased by 12% to 319 million Euros in the Laser Technology Division, and the Electronics/Medical Technology division achieved growth of 27%, ending at 117 billion euros.
The Machine Tools division recorded a decline in sales of 9.2% to 971 million. Sales fell by 8.3 % in the Power Tools division to 39 million Euros. (All figures are consolidated within business divisions.)
High profits secure long-term business strategy
At 89.5 million Euros, earnings before interest and taxes (EBIT) were high once again in absolute terms (previous year: 145 million Euros). Net income for the year stood at 54.4 million Euros, a decline compared with previous years.
The profits will enable TRUMPF to continue unimpeded with its long-term strategy of sustainable growth through permanent innovation and constant investment.
Cash flow after taxes was 90.5 million Euros (-24%). At 44%, the equity ratio was the same as the previous year
Strategic recruitment in Laser Technology
TRUMPF increased its total number of employees by almost 7% to 5,561. This increase is partly attributable to the expansion of the consolidated group. A programme of strategic recruitment was undertaken in the growth sector of laser technology.
TRUMPF now employs 3,650 staff in Germany (+6.9%). The number of staff employed abroad has increased by 6.0% to 1,911.
TRUMPF increases innovative strength through high expenditure in research and development
At 6.1% of sales, or 71 million Euros, investment in research and development remained at the same high level as the previous year, with the R&D quota well into the double-digit zone in laser technology and electronics.
High investment in production and sales
Investment also remained at a high level in these areas. TRUMPF invested approximately 5.5% of consolidated sales in tangible and intangible assets, with an emphasis on the expansion of its German production sites and investment in sales and service companies abroad.
Although the economic environment continues to pose risks, the company expects to increase sales and earnings in the financial year 2002/2003. Clear opportunities for growth exist in the laser technology and medical technology sectors. Machine tools and power tools are expected to slightly exceed the previous year�'s levels.
TRUMPF GmbH + Co. KG (www.trumpf.com)
The TRUMPF Group is one of the world�'s leading companies in manufacturing technology. Its four divisions - Machine Tools, Laser Technology, Electronics/Medical Technology and Power Tools - are brought together under the umbrella of a holding company. With its 40 subsidiaries, the Group is represented in almost all countries of Europe, in North and South America and in Asia. Production facilities are located in Germany, France, Austria, Switzerland, Taiwan and the United States.
ots original text: Trumpf GmbH
Maschinen GmbH + Co. KG
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