Growth in operating results for Schuler
Press manufacturer, Schuler has achieved further improvements in sales and adjusted earnings in 2015.
At €1.2 billion, sales reached its second highest level in the company’s 176 year history. Earnings even set a new record, the operating result adjusted one off effects from the new manufacturing concept which reached €138.8 million. This resulted in an EBITDA margin of 11.6%.
Stefan Klebert, CEO at Schuler, said: “Our strongest sales growth was in Asia and North America in 2015. In terms of new orders, the cyclical decline in large equipment for the automotive sector was partially offset by growth in our other divisions.”
Schuler is focusing on new growth markets in China and other emerging markets. In spring this year, the company’s acquisition of a majority stake in Chinese press manufacturer Yadon is expected to be finalised.
“The segment cannot be conquered with high price, cutting edge technology exported from Germany alone – neither in China, nor in the USA or the emerging markets,” explained Klebert.
Schuler is currently experiencing growth in China as well as North America. At €605 million, Europe still accounted for the largest share of sales totalling €1.2 billion in 2015. China increased to €299 million and the region North America to €190 million. In the USA, Schuler was able to win a major US car manufacturer as a new customer for its press lines for the first time in several years.
Norbert Broger, CFO, said: “We cannot fully escape the effects of a slowdown in major economies around the world, nor the impact that various geopolitical conflicts are having on the investment climate. For 2016, we therefore expect sales and earnings to fall well short of the prior year figures.”
The positive earnings trend and moderate dividend policy over the past few years have enabled Shuler to steadily improve its financial structure.
“We have a very solid financial base in terms of both equity and debt that allows us to grasp such strategic opportunities as the Yadon acquisition,” concludes Klebert.