Voith Announces Robust Performance in the First Half of Fiscal Years
On June 7, 2012, Voith Group, a leading global provider of technology and industrial services, recently announced its financial results for the first half of 2011/2012 as of March 31, 2012. The financial report shows that although the global economic situation is turbulent, Voith Group's overall performance has steadily increased. Its sales revenue for the first half of the fiscal year reached 2.7 billion euros, an increase of 4% compared to the same period, while holding orders for nearly 6 billion euros.
Driven by growth in markets such as energy, oil and natural gas, raw materials, and transportation and public transportation, sales of Voith Hydro, Voith Turbo, and Voith Industrial Services are on the rise. Which Voith hydropower growth is particularly prominent, with a growth rate of 12%. Voith Drive sales revenue increased by 7%, while Voith Industrial Services increased by 3%.
Dr. Hubert Lienhard, President and CEO of Voith Group, stated: “Despite the severe market situation, Voith once again proved that its business model is full of vitality. With our diversified product portfolio and solid market position, we were able to make a weak market. Under the circumstances, we have achieved satisfactory results."
Voith's four business units have a more balanced contribution to the Group's revenue and can help Voith Group respond to the drastic changes in the individual market. In the first half of 2011/2012, Voith Hydro, Voith Paper, Voith Turbo and Voith Industrial Services accounted for 24%, 30%, 27% and 19% of the Group's total sales revenue, respectively.
Due to changes in the global papermaking market, Voith Paper's performance in the first half of the year has declined. The prevalence of handheld devices such as the iPad and changes in consumer reading habits have caused a sharp drop in demand for cultural paper. At the same time, the demand for medium-sized paper machines in the Asian market is increasing, but the price competition is fierce. In response to this market change, Voith Paper will optimize its business in the future and continue to maintain its market leadership.
Although the global economy is still full of uncertainties, the papermaking market is undergoing fundamental changes. The Voith Group remains cautiously optimistic about the future and believes that Voith Hydro, Voith Turbo and Voith Industrial Technology Services are throughout the fiscal year. Can achieve business growth.
In the first half of 2011/2012, Voith Group continued to increase its investment. The investment amount increased by 45% compared to the same period in 2011 to EUR 149 million, which represented 5.4% of sales, which was 3.9% higher than the same period in 2011. . China and Germany are two key areas of Voith's investment. In February 2012, Voith announced that it will increase its investment in China by 400 million euros within five years and plans to increase the total number of its employees in China by 70% in order to continue to promote the rapid growth of Voith's business in China. In addition, in the first half of 2011/2012, Voith’s investment in R&D grew by 4% to EUR 134 million.
Although the European debt crisis has intensified and Asia's economic growth has slowed down, Voith Group still predicts that this fiscal year will achieve growth.
About Voith Group
Voith establishes industry standards for energy, oil and gas, paper, raw materials, and transportation and public transportation. Founded in 1867, Voith Group has more than 40,000 employees in more than 50 countries and annual sales of 5.6 billion euros. It is one of the largest family-owned companies in Europe.
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