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| Press release March 5, 2008 |
Voith Holding: Voith continues to grow Stuttgart/Heidenheim. Voith, a family-owned company, continued to grow in fiscal 2006/07 (the year ended September 30, 2007). Driven by strong global growth in the markets for paper, energy, mobility, infrastructure and service, orders received rose 25.3% to EUR 5.1 billion (previous year: EUR 4.1 billion). Sales broke the EUR 4 billion barrier for the first time, increasing by 12.1% to EUR 4.2 billion (previous year: EUR 3.7 billion). Before tax and adjusted for one-time effects, the result from ordinary business again rose sharply from EUR 218 million in the previous year to EUR 264 million in the fiscal year under review. Also adjusted for one-time effects, net income was up 14% to EUR 153 million (previous year: EUR 134 million). President and Chief Executive Officer Dr. Hermut Kormann and Chief Financial Officer Dr. Hermann Jung were accordingly upbeat at the Voith balance sheet press conference today. "We are well satisfied with fiscal 2006/07," was Jung's positive verdict on the year under review. "All of Voith's Group Divisions experienced excellent development." Voith chief Kormann stressed the importance of Voith's robust development for Germany. "New jobs and fresh investment are not the least outcome of our decidedly forceful growth. In Germany alone, Voith created more than 1,000 new jobs and invested a total of EUR 117 million in research and production facilities to further sharpen our innovative edge," Korman told journalists at the press conference. The momentum gained in the period under review has clearly carried over to fiscal 2007/08, in the first three months of which new orders were 47% up on the same period a year ago. "I can't remember when we had anything like such a good start to a fiscal year," Kormann enthused. The CEO is also optimistic about the remainder of the current fiscal year: "Demand from the industries we serve is as strong as ever. We expect high levels of orders and sales for the whole of fiscal 2007/08." A raft of innovation projects - from an anaerobic reactor for paper mills through the Maxima and Gravita diesel locomotives and WinDrive, a drive system for wind energy plants, to wave energy systems - are already making a tangible contribution to the Group's brisk business. In light of all these developments, CFO Jung expects to see positive earnings once again this fiscal year: "We expect net income from ordinary business adjusted for one-time influences to be higher this year than in fiscal 2006/07." Voith sets the standards in the markets for paper, energy, mobility and service. Founded in 1867, the Group today employs 37,000 people, posts annual sales of EUR 4.2 billion, operates more than 250 sites worldwide and is one of the largest family-owned companies in Europe. Voith is an official partner in the initiative “Germany - Land of Ideas. |
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Markus Woehl Voith AG | Corporate Press Office | St. Pöltener Str. 43, 89522 Heidenheim | Germany Tel +49 7321 37-2219 | Fax +49 7321 37-7107 E-Mail markus.woehl@voith.com |
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