According to the new CEO Peter Mohnen, the 2018 financial year presented Kuka with many challenges. From the fourth quarter onwards, the economic slowdown was increasingly felt and customers were more cautious in their investment decisions. There were also negative influences from the project business.

Specifically, the Kuka Group's order intake in the past financial year amounted to 3.3 billion euros, 8.5% below the previous year's figure (3.61 billion euros). Sales revenue amounted to 3.24 billion euros - a drop of 6.8% compared to the previous year (3.48 billion euros). Finally, with regard to EBIT (earnings before interest and taxes) before purchase price allocations, before growth investments and before reorganization expenses, Kuka's balance sheet for 2018 shows a figure of 96.4 million euros (2017: 148.3 million euros).

How Kuka is reacting to the decline

In view of the declining figures, Kuka is adapting to the changed conditions and is systematically implementing the action plan initiated in January. To this end, an efficiency program has been set up with the aim of saving 300 million euros by 2021. A high double-digit million euro amount has already been identified for 2019. The savings also include job cuts at the headquarters in Augsburg. A total of 350 full-time positions are to be cut there this year.

In China, the company is concentrating on building up its joint ventures and will develop new products for the local market there. In the area of research and development, a clear prioritization and global focus has been implemented. The organizational structure has been sharpened to improve global cooperation and to place customers even more strongly at the center.

Based on current conditions and exchange rates, Kuka expects a slight increase in sales to around 3.3 billion euros for 2019 as a whole.