Mechanical engineering - Voith increases sales and profit
The technology group Voith increased its sales and profits in the past fiscal year. For the first time, the company achieved sales of more than five billion euros, said CEO Toralf Haag on Tuesday. Sales rose by 13 percent to around 5.51 billion euros. The Voith Paper Division made the largest contribution to this.
The producer of large-scale systems achieved its growth and earnings targets, according to the company. The Group's diversification - both geographically and in the various sectors - and the strengthened market position in the Voith Paper, Turbo and Hydro divisions contributed to this. The company had to contend with higher interest rates, global crises and higher costs. In the Paper Division, a slight cooling of the market was evident.
The Group result for the past fiscal year (ending September 30) amounted to EUR 73 million (previous year: EUR 30 million), as the company announced. Incoming orders rose by 19 percent to EUR 6.14 billion. The order backlog thus reached an all-time high of EUR 7.22 billion.
For the current fiscal year, the Group expects a subdued economic situation, said Haag. Voith expects a slight decline in sales and fewer orders. The company, which employs around 22,000 people in more than 60 countries, expects a slight increase in the operating result.
Website Voith press release
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Source: www.stern.de
