ENP Newswire -
Release date- 29052014 - Heidenheim/
Orders received, which were still on the decline in the past fiscal year, increased noticeably between
The reversal of the trend in orders received will have an effect on the Group's sales and earnings, albeit with a certain time-lag. As of the end of
Despite the decline in sales, Voith succeeded in making up for the negative currency effects in its operating result. The operational result before non-recurring items rose to
Voith launched the program in the past fiscal year in order to set the sails for a sustainable and successful future. The main focus of the program is on optimizing structures and processes as well as the existing portfolio alongside recognizing and exploiting growth potential.
As planned, the first positive effects of the program were not yet visible in the net income in the first six months. The net income of the Group decreased to
'We are on schedule with the implementation of Voith 150+ and are working through our program step by step. Our earnings in the first half of the fiscal year demonstrate that the measures initiated are beginning to take effect', explains Dr.
This puts us into a position to exploit in the best possible way those opportunities that are increasingly offered by an environment characterized by a tentative recovery of important markets for capital goods', continues Lienhard.
Varying developments in the Group Divisions
Voith Hydro looks back at a satisfactory first half of the fiscal year with a slight rise in sales to
In the first half of the fiscal year, Voith Industrial Services generated sales of
For Voith Paper, the first half of the fiscal year proved once again to be difficult in light of an ongoing weak market for paper machines. On account of the decline in orders received in previous years, sales contracted by 11 percent to
In the first half of the fiscal year, the Voith Turbo Group Division saw an increase in orders received to
Sound development expected to continue over the rest of the fiscal year
For the second half of the current fiscal year 2014, Voith expects the modest recovery of the global economy to continue, basing its forecast on the economic indicators available. The economic environment for mechanical and plant engineering companies is likely to remain challenging on account of the subdued investment climate in many industries. Moreover, the current fragile recovery in the global economy is subject to risk. Looking ahead, exchange rates similarly remain an uncertainty factor for sales, orders received and earnings figures.
In light of this, Voith anticipates a sound development over the rest of the fiscal year. Voith confirms its forecast of stable Group sales and orders received. A slight decline in the operational result before non-recurring items is nevertheless anticipated as a consequence of the still tense situation regarding the development of business at Voith Paper. Irrespective of this, the net income should nevertheless rise significantly as forecasted.
'The intense groundwork of the past fiscal years is increasingly bearing fruit. Voith is on the right track, as can be seen from the sound developments seen in the first half of the fiscal year, to return to a sustainable and profitable growth path', summarizes CEO Lienhard.
Voith sets standards in the markets energy, oil & gas, paper, raw materials and transport & automotive. Founded in 1867, Voith employs more than 43,000 people, generates
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