Kuka
Recovery in the first quarter
Kuka closed the first quarter of 2021 with significant growth. Despite the still dynamic coronavirus situation, many customers made up for postponed projects.
At EUR 890.5 million, the Group recorded 29.2% more incoming orders in the first quarter than in the same period of the previous year (Q1/20: EUR 689.0 million). The book-to-bill ratio rose to 1.23, which represents good capacity utilization and growth. Orders in the Systems business segment increased particularly strongly, rising by around 141% to EUR 278.6 million. The recovery from a low level is due in particular to significant growth in the automotive business in the USA. However, conditions in the European market remain difficult. The Systems division is primarily active in automotive plant engineering.
At 721.6 million euros, the Kuka Group's sales revenue was 15.5% higher than in the same quarter of the previous year. In China in particular, sales increased massively and amounted to EUR 110.3 million between January and March 2021, 122.9% above the previous year's level. The business segment was particularly hard hit by the coronavirus pandemic and the associated restrictions in the first three months of last year.
The Group's earnings before interest and taxes (EBIT) improved to EUR 8.2 million (Q1/20: EUR -34.2 million), with the EBIT margin rising accordingly to 1.1% (Q1/20: -5.5%). At EUR 18.1 million, free cash flow in the past quarter was the highest it has been since 2014 (Q1/20: EUR -12.8 million). The improved business situation has also had an impact on job cuts at the headquarters in Augsburg, which are now lower than originally planned.
"It will still take some time for the markets to fully recover and return to pre-corona levels and economic downturns. Nevertheless, we expect a positive annual result despite the uncertainties caused by coronavirus," said Kuka CEO Peter Mohnen.
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