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Voith – Positive Results After First Half of Fiscal 2010/2011 - At the end of the first half of fiscal 2010/11 (31March) the Voith Group can post positive results with a promising outlook for the second half of the year
Voith – Positive Results After First Half of Fiscal 2010/2011

 

PRZOOM - /newswire/ - Heidenheim, Baden-Wuerttemberg, Germany, 2011/05/31 - At the end of the first half of fiscal 2010/11 (31March) the Voith Group can post positive results with a promising outlook for the second half of the year. FSE: VO2A

   
 
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Voith managed to raise its high sales levels by 12% to EUR 2,629 million on the same period of the previous year. Orders received by the Group increased by 30%. Voith has thus gained new orders worth EUR 3,412 million, taking its order backlog to EUR 6,108 million per 31 March 2011.

“Against the background of the high sales levels of the previous year 2009/2010, these figures are considered as particularly positive,” so Dr. Hubert Lienhard, President and CEO of Voith GmbH. “Voith has mastered the economic crisis not only without a drop in sales and results, but has even continued to grow despite this difficult period”.

The highly positive overall trend is also reflected in the Group’s development of earnings. The net income of the first half year rose to EUR 95 million. This corresponds to an increase of 160%. Staff numbers saw a moderate rise. As of 31 March2011, the Voith Group employees 39,885 employees worldwide.

“We are satisfied with the figures of the first half year,” says Dr. Hubert Lienhard. “They clearly demonstrate that we have emerged from the economic crisis stronger than before and that we benefit from the upturn in our markets.”

All five markets of Voith are showing definite growth trends. This applies both to the early cycle markets paper and transport & automotive, and also the late-cycle industries energy, oil & gas and raw materials. Dr. Lienhard: “The economic revival has meanwhile manifested itself in all five Voith markets. We anticipate growing sales and further improved results for the second half of the current fiscal year and also the next business year.”

Voith (voith.com) sets standards in the markets energy, oil & gas, paper, raw materials and transportation & automotive. Founded in 1867, Voith employs almost 40,000 people, generates €5.2 billion in sales, operates in about 50 countries around the world and is today one of the biggest family-owned companies in Europe.

Disclaimer
This press release contains forward-looking statements and statements which are based on subjective assessments. Forward-looking statements of this nature are based on assessments, assumptions and conjectures which currently appear reasonable to the company. Many different factors may result in actual events deviating substantially from forecast developments. This Voith GmbH press release has been written with the greatest possible care. Nonetheless, Voith cannot guarantee a complete absence of errors or that the information provided is absolutely comprehensive. Liability is disclaimed for any direct or indirect damages which arise or may arise from this press release, except where due to intent or gross negligence.

 
 
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Voith – Positive Results After First Half of Fiscal 2010/2011

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Voith AG |
Contact: Markus Woehl - Voith.com 
+49 (0) 7321 37 2219 markus.woehl[.]voith.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Voith GmbH securities in any jurisdiction including any other companies listed or named in this release.

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