Posted to News on 17th Dec 2010, 10:58
Lenze Group announces results for 2009-10
Lenze SE says it has left the global economic and financial crisis behind. Chairman Dr Erhard Tellbuescher (on the left) told the financial press conference for his company in Hamelin: "We are delighted to have overcome this crisis without external assistance. By changing our cost structures across the board and increasing incoming orders, we have been able to report a profit."
Lenze's order books for the current financial year are said to be very full, with markets recovering more quickly than forecast. Production capacity is being well utilised, which explains why the number of employees is increasing again. Dr Tellbuescher states: "We believe that these are indicators of stable and sustainable recovery on the part of the economy - and our customers."
In the financial year 2009/2010, Lenze SE recorded sales of EUR416.9million (previous year EUR505.4million), which is equivalent to a fall of 18 per cent. The operating result before interest, taxes and special items was EUR3.6million (previous year EUR5.3million). In spite of this fall of 31 per cent, Lenze still reported an operating profit in this year of crisis. Earnings after tax were EUR1.3million (previous year -EUR8.7million). Despite the crisis of this year, the financial position of the Lenze Group continues to be extremely stable. On 14 October 2009, the German AG changed its legal form to European Company SE.
The total amount spent on research and development during the reporting period was EUR31.6million. This means that at 7.6 per cent of sales, expenditure was slightly up in relation to the previous year. The Chairman stated: "The aim of our development work is to offer our customers a homogeneous portfolio of drive and automation technology which reflects the current state of the art. Our customers value the high reliability of components, the harmonised and scalable product portfolio and the ease with which our products can be used."
Outlook for the financial year 2010/2011
The start of the current financial year saw a significant increase in incoming orders. Compared with the same quarter of the previous year, production in this first quarter grew by more than 80 per cent. The Lenze SE Board of Management is extremely positive about the outlook for the financial year 2010/11. The strong upward trend is due to Lenze's ability to tap into new markets during the crisis. The company already has operations in China and India, where growth is strong. Lenze recently consolidated its position in Brazil, the most important market in South America, by acquiring a sales and service partner.
Lenze reported an increase in sales in all major economic regions: sales tripled in Asia and grew by approximately 40 per cent in Europe (growth was particularly strong in Germany). Dr Tellbuescher concluded: "Our improved cost structures and our many new products will enable us to continue this upward trend in growth and profits."
