The Voith Group, a known name in the paper industry among other sectors, achieved significant gains in the first six months (1 October 2022 to 31 March 2023) of the current fiscal year 2022-23 despite a market environment that continues to be challenging. Voith increased both its sales and EBIT in all group divisions. Orders received exceeded the already high figure from the previous year, the company said.
Group sales increased significantly (up 18%) to 2.75 billion Euros (previous year 2.34 billion Euros). At 2.95 billion Euros, orders received were noticeably higher than in the previous year (2.71 billion Euros). The value of orders on hand on the reporting date of March 31, 2023 was 7.02 billion Euros, beating the record-breaking high of the previous year (6.80 billion Euros). In the first half of the fiscal year, Voith significantly increased its operating result (EBIT) to 123 million Euros (up 30%). The net income was 29 million Euros (previous year: 16 million Euros).
“Despite major uncertainties in the global markets, Voith experienced a gratifying performance in the first six-month period. Operationally and financially, our company is in a resilient condition. In this context, we have benefited in particular from our strategic focus on sustainable technologies,” explains Toralf Haag, CEO of the Voith Group.
Tapping into new growth markets
Voith is making further progress in developing its core business to align more strongly with the megatrends of decarbonization and digitalization. Hydrogen technology, energy storage, electrical drive systems and the automation of rail freight are important growth segments.
“The worldwide trend toward sustainable technologies and renewable energies works in our favor. Our activities in hydropower as the key renewable energy, resource-conserving paper production and alternative drive technologies put us in a very good position. This is also reflected positively in our figures. We are going to continue to invest in the ongoing development of our product range and in doing so contribute to industrial sustainability,” says Haag.
Positive development in all divisions
In the first six-month period, Voith Hydro increased its sales to 565 million Euros (previous year: 487 million Euros). Orders received were stable at 587 million Euros. At 7 million Euros, the operating result showed a year-on-year improvement (3 million Euros).
In the first half of fiscal year 2022/23, Voith Paper increased sales by 10% to 1.18 billion Euros (previous year: 1.07 billion Euros). Orders received were stable at 1.26 billion Euros . The group division was able to confirm the positive trend with its operating result, which saw an improvement to 77 million Euros (previous year: 70 million Euros).
Voith Turbo can look back on a gratifying six-month period. Orders received increased to 1.05 billion Euros, representing a year-on-year growth rate of 25%. At the same time, Voith Turbo reported a significant increase in sales of 29% to 961 million Euros (previous year: 742 million Euros). The operating result increased in the first half of the fiscal year to 33 million Euros (previous year: 21 million Euros).
Further positive development expected
The volatility of the markets remains high, while rising interest rates and a looming recession continue to be factors of uncertainty for the global economy. Despite these difficult underlying conditions, Voith anticipates a further increase in orders received, sales and net income, and remains committed to its planning for the current fiscal year 2022/23. The company is therefore set to continue on its chosen path of profitable growth.
The Voith Group is a global technology company. With its broad portfolio of systems, products, services and digital applications, Voith has set standards in the markets of energy, paper, raw materials and transport & automotive.
Voith Paper is part of the Voith Group. As the full-line supplier to the paper industry, it provides the largest range of technologies, services and products on the market and offers paper manufacturers holistic solutions from one source.
