17 August 2009

Trumpf expecting profits despite decline in sales

The Trumpf Group estimates its profits in the tens of millions of Euros, despite a significant drop in demand in the 2008/09 fiscal year. Sales sunk by 23 percent to 1.66 billion Euros. In presenting the preliminary figures for the fiscal year that ended June 30, 2009, President Nicola Leibinger-Kammüller said, "Our flexible tools that allow us to quickly adapt production and working hours to demand have so far proven their value. We reacted quickly to the global economic crisis, were able to reduce our costs and achieved an acceptable income before taxes during the past fiscal year as a result. Given the current situation, I would call that a success."

Trumpf expects orders received to fall by 35 percent to 1.35 billion Euros. The company recorded a downturn in all regions of the world and in all of its divisions. The Trumpf Medical Technology Division, which produces equipment for ORs and ICUs, was the only division to record increases in sales.

Trumpf's workforce remained constant at 8,000 employees. The machine tool and industrial laser manufacturing company did, however, reduce its manpower in the face of lower orders by cutting back flexi-time accounts and introducing shorter working hours.

The company also increased its liquidity and equity capital in order to prepare for the potential challenges posed if the economic slump continues. The Leibinger family, which owns Trumpf, injected 75 million Euros into the equity capital, boosting the company's equity ratio over the 50-percent mark.

The company will present its final figures at its annual press conference on October 20, 2009.

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