HEIDENHEIM, Germany and YORK, Pa. (PRWEB)
December 07, 2017
• Orders received increase by 6.3 percent to €4.4 billion
- Profitability in core business strengthened further, Group’s net result at an all-time high (€596 million)
- Sales remain stable at €4.2 billion
- Implementation of the digital agenda going according to plan
- Electromobility roadmap presented
After a good fiscal year 2016/17, the Voith Group is entering a new growth phase strategically, operationally and financially strengthened. Orders received in the previous year improved by 6.3 % to € 4.4 billion and so exceeded expectations. The Voith Paper Group Division made a particular contribution to that, growing its orders received strongly by 24%. Orders on hand at the end of the fiscal year remained at a high level of € 5.2 billion (previous year: € 5.3 billion). Sales at the Group were € 4.2 billion and so, as forecast, were able to be maintained at the high level of the previous year, despite a challenging market environment.
Operating business developed positively in the company’s 150th anniversary year with a further increase in the profitability of its core business. The profit from operations at its three traditional Group Divisions Voith Hydro, Voith Paper and Voith Turbo rose to a total of € 304 million (previous year: € 295 million); Voith Paper stood out here in particular, posting a hefty in-crease of 40 %. However, the profit from operations reported for the Voith Group fell to € 241 million (€ 275 million), mainly due to the planned start-up costs for Voith Digital Solutions. The Group’s net result climbed to an all-time high of € 596 million (previous year: € 29 million).
The high proceeds from the sale of KUKA meant a significant improvement in the Group’s financial position in the past fiscal year. The equity ratio in the Group reached a historic high of 27.3% (previous year: 14.9 %). The Voith Group’s financial strength also improved sharply. Net liquidity increased in the same period to € 648 million (previous year: € 168 million).
“Fiscal 2016/17 was a good year for Voith – with a clear confirmation that our operational earnings power has grown sustainably, a comfortable financial position and a significant improvement in our balance sheet. We’re fully on track to achieve our goal of positioning Voith as…