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Harrison M350 Gap bed Centre Lathe #78593
Harrison M350 Gap bed Centre Lathe
Max’ Distance Between Centres 1500mm
Max’ Swing over Bed 380mm
Harrison M350 Gap bed Centre Lathe Max’ Distance Between Centres 1500mm Max’ Swing over Bed 380mm ...
Jet Machinery Ltd

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Voith proves its resilience in challenging market environment

Posted on 28 Jun 2022 and read 625 times
Voith proves its resilience in challenging market environmentIn the first six months of Germany-based Voith Group’s current fiscal year 2021/22 (10/01/2021 to 03/31/2022), the company chalked up a strong performance in a market environment characterised by global crises, operating in the black in all three of its divisions — Hydro, Paper and Turbo.

Moreover, Voith achieved a significant increase in both sales and EBIT across the Group, with orders received ‘exceeding the high figure for the previous year’.

At 2.34 billion euros, Group sales were up 14% on the first half of the 2020/21 fiscal year; with an adjustment for currency effects, this equates to an increase of 11%. At 2.71 billion euros, the value for orders received was slightly higher than for the previous year (2.63 billion euros). At 6.8 billion euros, the value for orders on hand recorded on 31 March 2022 increased compared to the already high level of the previous year (6.25 billion euros) to reach an all-time high.

Voith Group’s CEO Toralf Haag said: “Against the background of the current global crises, which are already having a significant impact on our markets, we can be satisfied with the development we have seen in the first six months, with Voith continuing to remain strong operationally and financially. Our broad sectoral and geographic positioning has also played a role in this, as has our focus on sustainable technologies, which are becoming increasingly important.”

In the past six months, Voith has been expanding its core business to accommodate ‘the megatrends of decarbonisation and digitalisation’ and to tap into new growth fields, with focus areas including hydrogen technology, energy storage, electric drive systems, and digital rail couplers.

Dr Haag added: “The current discussion on the rapid expansion of renewable energies and energy security clearly demonstrates the strong position we now find ourselves in. This was a direct result of our strategic focus on sustainable technologies in all three of our Group Divisions — with hydropower as a key renewable energy, along with resource-conserving paper production, and alternative drive technologies. We will continue to develop our portfolio in these areas and, in doing so, make our contribution to industrial sustainability.”

Founded in 1867, Voith today has around 20,000 employees and earns 4.3 billion euros in sales. It has locations in more than 60 countries and is one of Europe’s major family-owned companies.