PROFITABLE GROWTH CONTINUES FOR ROBOTICS AND SYSTEMS IN 2012
- KUKA meets guidance in 2012
- Record figures generated in orders received, sales, and profitability in the past financial year
- Orders received reach EUR 1,889.6 million (+21.7%)
- Sales revenues rise to EUR 1,739.2 million (+21.1%)
- Order backlog at EUR 909.4 million on 31 December (+25.6%) and ensures high capacity utilization in 2013
- Increase in profitability much stronger than sales growth: EBIT at EUR 109.8 million (+51.2%) and EBIT margin at 6.3%
- KUKA reaches free cash flow of EUR 77.1 million and pays off net debt in full
KUKA Group's preliminary figures for the 2012 financial year break down as follows:
Preliminary orders received reached a record figure of EUR 1,889.6 million in the year just ended, up 21.7% percent on the prior year (2011: EUR 1,553.0 million). Both business divisions took advantage of major orders from the international automotive industry, particularly in the first half of 2012. In Robotics, the orders received were driven by frame contracts with European vehicle manufacturers and considerable demand in China. This resulted in the division’s orders received totaling EUR 803.1 million, an increase of 22.7% versus the prior year (2011: EUR 654.4 million). Orders received from general industry reached a new record level of EUR 294.9 million.
The high level of capital spending by KUKA customers continued in the systems business as well, resulting in the Systems Division increasing orders received to EUR 1,115.1 million in financial year 2012. Similar to the situation in Robotics, the prior-year figures were surpassed by 21.7% (2011: EUR 916.6 million).
Preliminary sales revenues of KUKA increased almost in line with the growth of orders received and reach a figure of EUR 1,739.2 million for financial year 2012, a rise of 21.1% percent compared with the prior year (2011: EUR 1,435.6 million). Of that figure, Robotics accounted for sales revenues totaling EUR 742.6 million, up 20.5% on the previous year (2011: EUR 616.3 million). Systems reported sales revenues of EUR 1,025.3 million, an increase of 20.5% (2011: EUR 850.7 million). The book-to-bill ratio, i.e. orders received in relation to sales revenues, developed positively in the year under review. This was at 1.09 and led to an increase in the order backlog. Accordingly, high capacity utilization in the current financial year is ensured.
The preliminary order backlog of KUKA Group was at EUR 909.4 million as of year-end 2012. This represents an increase of 25.6% year on year (December 31, 2011: EUR 724.0 million). The order backlog of Robotics was EUR 248.7 million at the end of the year (not accounting for frame contracts from the automotive industry), a rise of 34.9%, while Systems had an order backlog of EUR 666.1 million, an increase of 22.2%.
Due to high capacity utilization in production and expectations of strong demand in the coming years, KUKA is currently expanding its robot capacities in Augsburg and Hungary (control cabinets) and is also establishing a new plant for robot assembly in the growth pole of China. The cornerstone was laid for this on October 12, 2012 in Shanghai. The new plant will have a production floor of nearly 20,000 sqm and is expected to commence operations in the second half of 2013. KUKA will then have an assembly capacity of around 25,000 robots per year, an increase of almost 50%.
Earnings before interest and taxes (EBIT) increased at a higher rate than sales in the past financial year to exceed the threshold of EUR 100 million for the first time in the history of KUKA Group. The company generated a total EBIT of EUR 109.8 million (2011: EUR 72.6 million). The EBIT margin likewise improved from 5.1% in 2011 to 6.3% in 2012. Both divisions contributed to this encouraging trend.
Robotics achieved an EBIT of EUR 80.2 million (2011: EUR 51.0 million) due to high capacity utilization and a higher share of sales from the new generation of KR QUANTEC/KR C4. The EBIT margin was thus at or above 10.0% in every quarter, reaching a total of 10.8% for full-year 2012.
Systems generated an EBIT of EUR 47.7 million as a result of improved process management and high capacity utilization (2011: EUR 33.7 million). The EBIT margin was therefore 4.7% for the year as a whole. The figure of 5% was attained in the third and fourth quarters of 2012.
Because of the dynamic development of business, free cash flow improved significantly. After EUR 6.5 million in 2011, it rose to EUR 77.1 million in the past financial year.
KUKA Group increased its number of employees by 675 as of December 31, 2012, or 10.2% year on year, to a total of 7,264 employees. This figure includes vocational trainees and work-study students. Hence the rise in new employees was considerably lower than the growth in sales revenues during the same period (+21.1%). Robotics hired 427 of these employees, or more than 60% of all new hires, primarily in Augsburg and in the Hungarian control cubicle operations. A total of 259 new employees started in Systems. At Robotics, half of the new employees are attributable to the general industry segment. To maintain operational flexibility, additionally 1,408 temporary employees worked for the KUKA Group as of December 31, 2012, a rise of 330 compared with year-end 2011 (December 31, 2011: 1,078).