Trumpf GmbH & Co. KG, Ditzingen, Germany, has released financial results for its fiscal year 2019/20, which ended on June 30, 2020. The group, which develops and provides a range of manufacturing solutions, including metal Additive Manufacturing machines and solutions, posted a decrease in sales of around 8%.
According to preliminary calculations, sales for the group amounted to €3.5 billion, down from €3.8 billion in 2018/19 fiscal year. Orders received fell by 11% to €3.3 billion, down from €3.7 billion in 2018/19.
The biggest single markets after Germany, which saw sales of approximately €610 million, were the USA at €490 million and the Netherlands at around €480 million, followed by China at €350 million.
Nicola Leibinger-Kammüller, Trumpf’s president and chairwoman of the group management board, stated, “Since Autumn 2018, we have been feeling the effects of a weakening economy and the reluctance of many customers to invest, particularly in Germany.”
“We attribute this to the uncertainty associated with the structural change in the automotive industry, among other things,” she continued. “It has been our observation that corona [COVID-19] has intensified this trend and acted like a catalyst – a crisis within a crisis, so to speak. The central issue here is the uncertainty about the pandemic’s duration and the appropriate measures on the part of government.”
Trumpf reported that it had responded to the downturn in business more than a year ago with a programme to boost earnings and by saving on material and personnel costs.