Annual Report 2007 WERBUNG
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www.gildemeister.com annual report 2007 WERBUNG MONTFORT technologies for tomorrow. technologies for tomorrow. for technologies gildemeister annual report 2007 report annual gildemeister gildemeister Aktiengesellschaft Gildemeisterstraße 60 d-33689 Bielefeld Local Court hrb 7144 Phone: +49 (0) 52 05/74-3001 Fax: +49 (0) 52 05/74-3081 Internet: www.gildemeister.com E-Mail: [email protected] gildemeister group Key figures sales revenues Domestic order intake Domestic Key Figures € International € International The Consolidated Annual Financial Statements for gildemeister Aktiengesellschaft in million in million as at 31 December 2007 were prepared in accordance with the International Financial 2001 567.9 577.5 1,145.4 2001 566.1 537.0 1,103.1 Sales Revenues Reporting Standards (ifrs) – as they have to be applied in the European Union. 2002 491.7 541.1 1,032.8 2002 455.6 525.4 981.0 Order Intake 2003 475.7 502.1 977.8 2003 457.0 524.8 981.8 ebit 2004 2004 Annual Result 502.9 548.6 1,051.5 508.8 605.1 1,113.9 Employees 2005 501.9 624.0 1,125.9 2005 520.7 650.0 1,170.7 2006 612.8 716.2 1,329.0 2006 648.7 794.2 1,442.9 gildemeister group changes 2007 2006 2007 against 2006 2007 730.4 831.7 1,562.1 2007 847.6 1,017.3 1,864.8 € million € million € million % Sales revenues Total 1,562.1 1,329.0 233.1 18 Domestic 730.4 612.8 117.6 19 International 831.7 716.2 115.5 16 quarterly results (ebit) ebit in € million in € million % International 53 54 Order intake q1 2007 16.4 2001 78.1 Total 1,864.8 1,442.9 421.9 29 q2 2007 29.3 2002 17.2 Domestic 847.5 648.7 198.8 31 q3 2007 25.4 2003 34.7 International 1,017.3 794.2 223.1 28 q4 2007 54.8 2004 41.9 % International 55 55 2005 58.8 Order backlog* 2006 82.5 Total 749.4 446.7 302.7 68 2007 125.9 Domestic 273.1 156.0 117.1 75 International 476.3 290.7 185.6 64 % International 64 65 Investments 53.1 37.2 15.9 43 Personnel costs 366.4 320.2 46.2 14 annual result number of employees Machine Tools Personnel quota in % 22.9 24.1 in € million incl. trainees Services Corporate Services Employees 5,772 5,367 405 8 2001 25.8 2001 3,530 1,644 60 5,234 Plus trainees 226 191 35 18 2002 2002 Total employees* 5,998 5.558 440 8 -18.7 3,317 1,663 65 5,045 ebitda 158.2 115.1 43.1 37 2003 -3.6 2003 3,242 1,717 69 5,028 ebit 125.9 82.5 43.4 53 2004 5.6 2004 3,264 1,846 64 5,174 ebt 83.4 47.4 36.0 76 2005 13.5 2005 3,270 1,935 67 5,272 Annual profit 50.1 27.1 23.0 85 2006 27.1 2006 3,357 2,126 75 5,558 * Reporting date 31 December 2007 50.1 2007 3,609 2,307 82 5,998 cover: The cover picture shows a spiral bevelled wheel for transmission manufacturing, completely machined in 890 minutes on the vertical machining centre dmc 125 fd duoblock® in 5-axis simultaneous machining. gildemeister group Key figures sales revenues Domestic order intake Domestic Key Figures € International € International The Consolidated Annual Financial Statements for gildemeister Aktiengesellschaft in million in million as at 31 December 2007 were prepared in accordance with the International Financial 2001 567.9 577.5 1,145.4 2001 566.1 537.0 1,103.1 Sales Revenues Reporting Standards (ifrs) – as they have to be applied in the European Union. 2002 491.7 541.1 1,032.8 2002 455.6 525.4 981.0 Order Intake 2003 475.7 502.1 977.8 2003 457.0 524.8 981.8 ebit 2004 2004 Annual Result 502.9 548.6 1,051.5 508.8 605.1 1,113.9 Employees 2005 501.9 624.0 1,125.9 2005 520.7 650.0 1,170.7 2006 612.8 716.2 1,329.0 2006 648.7 794.2 1,442.9 gildemeister group changes 2007 2006 2007 against 2006 2007 730.4 831.7 1,562.1 2007 847.6 1,017.3 1,864.8 € million € million € million % Sales revenues Total 1,562.1 1,329.0 233.1 18 Domestic 730.4 612.8 117.6 19 International 831.7 716.2 115.5 16 quarterly results (ebit) ebit in € million in € million % International 53 54 Order intake q1 2007 16.4 2001 78.1 Total 1,864.8 1,442.9 421.9 29 q2 2007 29.3 2002 17.2 Domestic 847.5 648.7 198.8 31 q3 2007 25.4 2003 34.7 International 1,017.3 794.2 223.1 28 q4 2007 54.8 2004 41.9 % International 55 55 2005 58.8 Order backlog* 2006 82.5 Total 749.4 446.7 302.7 68 2007 125.9 Domestic 273.1 156.0 117.1 75 International 476.3 290.7 185.6 64 % International 64 65 Investments 53.1 37.2 15.9 43 Personnel costs 366.4 320.2 46.2 14 annual result number of employees Machine Tools Personnel quota in % 22.9 24.1 in € million incl. trainees Services Corporate Services Employees 5,772 5,367 405 8 2001 25.8 2001 3,530 1,644 60 5,234 Plus trainees 226 191 35 18 2002 2002 Total employees* 5,998 5.558 440 8 -18.7 3,317 1,663 65 5,045 ebitda 158.2 115.1 43.1 37 2003 -3.6 2003 3,242 1,717 69 5,028 ebit 125.9 82.5 43.4 53 2004 5.6 2004 3,264 1,846 64 5,174 ebt 83.4 47.4 36.0 76 2005 13.5 2005 3,270 1,935 67 5,272 Annual profit 50.1 27.1 23.0 85 2006 27.1 2006 3,357 2,126 75 5,558 * Reporting date 31 December 2007 50.1 2007 3,609 2,307 82 5,998 cover: The cover picture shows a spiral bevelled wheel for transmission manufacturing, completely machined in 890 minutes on the vertical machining centre dmc 125 fd duoblock® in 5-axis simultaneous machining. GB07_uk_Lagebericht_1403.qxd 14.03.2008 10:51 Uhr Seite 1 01 technologies for tomorrow This is gildemeister ’s motto for the year 2008. We intend to further expand our role as a technological trendsetter through our unabated strong focus on innovation. gildemeister has know-how that is unparal- leled in the industry. Our core areas of expertise “turning“, “milling”, “ultrasonic” and “laser technology” are complemented by automation and software solutions for machine tools. In addition, we recognised the importance of service very early on and have developed into a full-service supplier; we will continue to promote this area in the future. All the divi- sions were profitable in the reporting year. We will continue our value and growth-oriented strategy in the financial year 2008. Our “Strategy 2011” is consistently directed towards profitable growth. GB07_uk_Lagebericht_1403.qxd 14.03.2008 10:51 Uhr Seite 2 02 Table of Contents gildemeister in brief 01 technologies for 22 ergonomic 50 intelligent tomorrow. machine tools machine tools Report Supervisory Board / Business Report for Letter from the Chairman gildemeister Aktiengesellschaft 04 The Year 2007 14 Business Environment 54 Corporate Situation 06 Group Structure 14 Overall Economic 54 gildemeister Share and Bond 10 Chairman of the Development 61 Corporate Governance Supervisory Board 16 Development of the 68 Organisation and Legal 11 Report of the Machine Tool Industy Corporate Structure Supervisory Board 21 General Statement on the 71 Research and Development 12 The Executive Board Business Environment 75 Purchasing and Procurement 13 Letter from the Chairman 26 Results of Operations, 79 Production, Technology Net Worth and and Logistics Financial Position 82 Employees 26 Sales Revenues 86 Corporate Communication 27 Order Intake 28 Order Backlog 29 Results of Operations 32 Financial Position 34 Net Worth 39 Value Reporting 40 Investments 42 Segmental Reporting 42 “Machine Tools” Segment 46 “Services” Segment 48 “Corporate Services” Segment 49 General Statement on the Business Development GB07_uk_Lagebericht_1403.qxd 14.03.2008 10:51 Uhr Seite 3 03 88 automated 110 digital machine tools machine tools Consolidated Financial Statement Group Overview of gildemeister Aktiengesellschaft 92 Supplementary Report 114 Consolidated Income 186 Multiple Year Overview 94 Opportunities and Risk Report Statement 190 Glossary 99 swot Analysis 115 Consolidated Balance Sheet 194 Financial Calendar 100 Forecast Report 116 Consolidated Cash Flow Index 100 Future Business Environment Statement 102 Future Development of the 117 Statement of Changes gildemeister Group in Group Equity 108 General Statement of the 118 Consolidated Fixed Assets Future Business Development Movement Schedule 2008 and 2009 122 Segmental Reporting relating to Consolidated Financial Statements 124 Notes to the Consolidated Financial Statements 179 Affiliated Companies 182 Coorporate Directory 183 Responsibility Statement 184 Auditor’s Report GB07_uk_Lagebericht_1403.qxd 14.03.2008 10:51 Uhr Seite 4 04 The year 2007 february june The exhibition at deckel maho Mid-year gildemeister in Pfronten from February 6 to 10, presents its trend-setting is a complete success once again. new machine design; it is With 290 machines sold to a value may unique in the industry for of € 80.1 million, this traditional In the first quarter the transparency of the € 25 highlight at the start of the year gildemeister increases order machining process, the january surpasses expectations.