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Machine Tools Gildemeister sets orders record in 2011, sees another this year

Author / Editor: Eric Culp / Jürgen Schreier

German machine tool manufacturer Gildemeister said it recorded the second highest level of sales ever last year and set a record for incoming orders. In a statement, the company said it expects orders to reach a new zenith of over €2 billion this year and sales to surpass €1.9 billion.

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Gildemeister CEO Rüdiger Kapitza’s company set a record for orders in 2011 and is expecting even more this year. (Photo: Gildemeister)
Gildemeister CEO Rüdiger Kapitza’s company set a record for orders in 2011 and is expecting even more this year. (Photo: Gildemeister)

Gildemeister said orders, sales revenues and EBITDA, EBIT and EBT grew steadily over the course of last year. As a result, it reached annual targets and enjoyed positive overall business performance. Worldwide demand for machine tools is stable, it said, and forecast further growth for 2012.

According to the company, sales revenues exceeded 2010’s figure by €310.9 million to total €1,687.7 million, an increase of 23%. International sales rose 20% and domestic sales were up 27%. Exports accounted for 63% of sales, which was little changed from the previous year.

Order intake totaled €1,927.3 million last year, an increase of €508.9 million, or 36%. Domestic orders rose 42%, and international orders, constituting 60% of the total, grew by 32%.

Group order backlog on 31 Dec. was up 29% to €811.2 million, €182.9 million more than the previous year’s figure.

The company said EBITDA for the year totaled €146.1 million versus €74.5 million in the year-earlier period; EBIT rose to €112.5 million from €45.0 million, and EBT increased to €66.9 million from €6.5 million. Group annual profit reportedly grew to €45.5 million from €4.3 million.

The company said this year has started off well. Order intake in January and February outpaced the year-earlier period due to kickoff events, positive results from early trade fairs and an in-house exhibition.

For further information:

Gildemeister AG

Bielefeld, Germany

www.gildemeister.com

(ID:32709730)