Trumpf Expects Growth Surge to Slow in 2011
DITZINGEN, Germany, Oct. 24, 2011 — Although Trumpf posted the largest revenue rise in its history for the 2010-2011 fiscal year and it expects double-digit growth for the current fiscal year, the company expects growth to be slower than last year because of the current economic situation in Europe.
Although an unofficial announcement was made this summer (See also: Trumpf Sales Surge 51 Percent), Trumpf released an official statement noting that, during the past fiscal year (ending June 30, 2011), the machine-tool producer’s sales rose by €683 million (about $948 million) to €2.024 billion (about $2.8 billion).
“Last year was one of Trumpf’s most successful ever,” said Dr. Nicola Leibinger-Kammüller, the company’s president. “Within just one fiscal year, we've regained what we lost over the previous two.”
The gap between the record revenues before the recession and today is now as good as closed, she said. At €2.22 billion (about $3.082 billion), orders received have actually exceeded the record value so far. The pretax result amounts to €185.3 million (about $257.3 million) — after a still-negative result of -€59 million (about -$81.9 million) in the previous year.
“Following the major declines during the recession years, we now have strong growth in all the world’s regions — most particularly in China, but also in Germany and the American markets,” Leibinger-Kammüller said. She added that the high-tech company also owes this success to its role as a technological leader. “We have increased our outlay on research and development, already high as it is, by 22 percent. Only in this way can we offer our customers products that give them the competitive edge.”
Trumpf plans to continue growing in the current fiscal year as well. “We’re expecting double-digit growth,” she said. “However, there are also signs that, because of the Euro crisis, growth will be far slower than last year. We’re optimistic, but keeping our eyes open at the same time.”
Leibinger-Kammüller also had a message for Europe's politicians: “The Euro crisis and the Greece problem now have to be solved quickly, efficiently and sustainably. Each week without any tangible result will only make markets more insecure.”
To that end, making use of the growth opportunities in China, she said that the company is in the process of doubling its production capacity with an extension to the Taicang factory (near Shanghai), which is due to open in the spring of 2012.
“No one can say today how the global economy will develop in the coming weeks and months,” she said. “However, we are convinced that high-growth markets will continue to exist in the future, and our presence there also benefits our locations in Germany.”
Trumpf has 8550 employees worldwide.
For more information, visit: www.trumpf.com