TRUMPH Group - High Number of Orders Received Led to Good Growth for 2003/04 - and Secures a Dynamic
- TRUMPF achieved sales increase of 2.3 percent for fiscal 2003/04
- TRUMPF grew faster abroad than in Germany
- Good Earnings guarantee growth by own efforts
Ditzingen, Germany - The TRUMPF Group ended fiscal 2003/04 (July 1, 2003 to June 30, 2004) with consolidated sales of 1.22 billion. This figure represents an increase of 2.3 percent. A very sharp upturn in the investment goods climate occurred not until the first months of 2004, i.e. during the second half of the company's fiscal year. The fast recovery of the markets was felt by TRUMPF in all its business divisions. Orders received reached their highest level so far, increasing by 21 percent to 1.31 billion.
TRUMPF especially successful in America, Asia and Eastern Europe
The company made most of its gains outside Western Europe. Sales in North and South America rose by 15 percent to 197 million. With sales in Asia of 171 million, TRUMPF has almost tripled its sales in this region within four years.
The company also achieved high growth in Eastern Europe. This failed to balance out the drop in sales in Western Europe, however. Sales in Europe as a whole (excluding Germany) decreased by 9.2 percent to 427 million.
In Germany, our most important single market, sales increased by 2.3 percent to 420 million.
Company draws Strength from High-Growth Technology Sectors
The Machine Tools division accounted for 65 percent of the TRUMPF Group's consolidated sales, increasing by 2.3 percent to 992 million. In laser technology, the steady growth in sales continued. Although at 365 million, revenues of the Laser Division were 8.8 percent lower than the previous year, which was marked by major orders from the automotive industry, they were still 14 percent above the level of two years ago. In the Electronics/Medical Technology division, sales rose by 4.5 percent to 131 million. In the Power Tools division they increased by 4.2 percent to 43 million.
Net Income Increases, Slight Rise in Personnel Figures
Results from ordinary business activities, i.e. income before taxes, increased by 1.2 percent to 92 million. The net operating margin amounts to 7.5 percent of sales. There was a marked improvement in the consolidated annual net income, which rose by 18 percent to 55 million.
The ratio of equity to total assets remained high at 41.6 percent. The drop by 2.6 percentage point in relation to the previous year was due to part of the revenue reserves being used to finance the reacquisition of the shares held by the BWK-Maschinenbau-Beteiligungsgesellschaft mbH, Stuttgart, Germany. The company is now 100-percent owned by the Leibinger family.
At the end of the fiscal year 2003/04 TRUMPF had 5,790 employees, of whom 3,711 worked in Germany and 2,079 abroad. There was a slight rise in personnel figures of 0.5 percent.
High Amount of Investment in the Future
The company invested a large amount in its future during the fiscal year, both in research and development as well as in fixed assets. Expenditure for research and development amounted to approximately 98 million, equivalent to an R+D quota of 8.0 percent in relation to sales.
Expenditure on fixed assets rose to 83 million. The share of investments relative to sales added up to 6.8 percent. The new sales and service center and the extended showroom in Ditzingen, Germany now provide optimal conditions for customer care. TRUMPF also opened new customer centers in Italy and the Czech Republic.
TRUMPF Expecting a Dynamic Fiscal 2004/05
The first three months of the current fiscal year went very well. TRUMPF is planning growth in all its divisions, and for fiscal 2004/05 it is expecting a sales increase of between 6 and 7 percent to over 1.3 billion. Earnings should also increase.
The Most Important Figures at a Glance: TRUMPF Group 2003/04
|Sales in millions of ||1,221.2||1,193.3||+2.3|
|Orders received in millions of ||1,305.7||1,082.9||+20.6|
|Income before taxes in millions of ||91.8||90.7||+1.2|
|Net income for the year in millions of ||55.5||46.9||+18.2|
|Cash flow in millions of ||96.9||89.9||+7.8|
|Expenditure on fixed assets in millions of ||83.2||72.1||+15.3|
|Expenditure for Research and Development in millions of ||97.9||88.7||+10.4|
|No. of employees as of June 30, 2004||5,790||5,764||+0.5|
TRUMPF GmbH + Co. KG (www.trumpf.com)
The TRUMPF Group is one of the world's leading companies in manufacturing technology, with sales of 1.22 billion/US $ 1.46 billion (fiscal year 2003/04) and approximately 5,800 employees. The four divisions - Machine Tools, Laser Technology, Electronics/Medical Technology, and Power Tools - are connected under the umbrella of the TRUMPF Group holding company. The core business is flexible and precise sheet metal processing: punching and forming, laser processing and bending. The company, headquartered in Ditzingen near Stuttgart, Germany, is the world market leader and the technological leader in the area of industrial lasers and laser systems. With more than 40 subsidiaries and facilities, the TRUMPF Group is present in almost every European country, in North and South America, as well as in Asia. Production facilities are located in Germany, France, Austria, Switzerland, Taiwan and the United States.
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