Kuka Group
The third quarter of 2018 - forecast revised downwards
The Augsburg-based Kuka Group has announced its figures for the third quarter of 2018: Sales increased, but incoming orders declined. In view of the current business development, the previous forecasts for the year as a whole have been revised downwards.
The number of employees in the Kuka Group decreased by 2.0% from 13,988 (September 30, 2017) to 13,710 as at September 30, 2018.
© KukaSales in the Kuka Group rose to 851.0 million in the third quarter of 2018, an increase of 6.6% compared to the previous year. The decline in incoming orders of 750.1 million euros (-6.8%) was offset by a continued high order backlog of just under 2.2 billion euros (30/09/2018). Fas' earnings before interest and taxes (EBIT) fell by 6.7% to EUR 26.4 million (previous year: EUR 28.3 million). The EBIT margin before purchase price allocations, growth investments and reorganization expenses decreased from 5.5% (Q3/17) to 4.2% (Q3/18).
Kuka CEO Dr. Till Reuter: "After a long period of growth, we are responding to the tougher economic conditions and are placing a stronger focus on our efficiency program."
© Computers&AUTOMATIONBased on the first nine months of the financial year, order intake (2.61 billion euros) was down 6.1% compared to the same period last year. Although, according to Kuka CEO Dr. Till Reuter, the decline reflects current developments in the global economy, high order intake was generated overall, particularly in Europe. In a nine-month comparison, sales fell by 5.7% (EUR 2.49 billion compared to EUR 2.6 billion), and the Group's order backlog on September 30, 2018 was just under EUR 2.2 billion and thus almost at the previous year's level (EUR 2.21 billion).
The corrected forecast for 2018
Against the backdrop of an emerging economic slowdown in the automotive industry and also due to the uncertainties of the Chinese automation market, Kuka has adjusted its outlook for the 2018 financial year. Sales are expected to be around 3.3 billion euros, slightly below the forecast at the beginning of the year of more than 3.5 billion euros. The EBIT margin is forecast at around 4.5% (previously 5.5%).
Kuka expects weaker growth than forecast at the beginning of the year, particularly in Asia. This is mainly due to a slowdown in the Asian articulated robot market. In North America, and particularly in the automotive sector, Kuka expects a slight decline due to the completion of several model renewals. A positive development is expected in the General Industry segment.
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