manroland Sees Growth in Incoming Orders, Records Earnings Loss
OFFENBACH, GERMANY—March 17, 2011—Amidst economic rebounds, manroland recorded clear gains in orders for its 2010 financial year. Incoming orders were up by 15 percent from the previous year, totaling 976 million euros. Sales, on the other hand, decreased to 942 million euros (compared to 1,112 million euros in the previous year), attributable to the low number of orders in 2009. Operating earnings (EBIT) registered a loss of -66 million euros.
Nevertheless, signs of a recovery were apparent by the fourth quarter and an operational turnaround could already be achieved within this period. For the 2011 fiscal year, a return to operational profitability is expected.
The continued increase in demand in the growth regions of China, India and Latin America, along with successful appearances at industry trade fairs—such as the Ipex in Birmingham (England) and Expoprint in São Paulo (Brazil)—were major factors driving the positive order situation.
This positive development was not yet reflected in sales, which at 942 million euros for the 2010 financial year were 15 percent below the 2009 level of 1,112 million euros. The export ratio increased to 80 percent, with a strong gain in the share for the emerging markets. Sales in the BRIC countries increased by 50 percent from the prior year. The services business, primarily consisting of spare parts, maintenance concepts (printservices), and pressroom products (printcom), was further expanded.
“There was a clear upwards trend for incoming orders in 2010. Our business in China, Latin America, and Germany was particularly strong. Our product innovations in both sheetfed and webfed offset printing, as well as our range of services were given an especially warm welcome,” said Gerd Finkbeiner, manroland’s CEO. “We are assuming, however, that we will not be able to sustain incoming orders and sales at the levels we had prior to the economic crisis. We have undertaken major financial and operational efforts to adjust our capacities accordingly, and we expect a satisfactory utilization in the medium term.”