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Recently, the world's leading provider of technology and industrial services, Voith Group of Germany, announced the financial results for the first half of 2011/2012 as of March 31 this year. The financial report shows that although the global economic situation is turbulent, Voith Group's overall performance has steadily increased. Its sales revenue for the first half of the fiscal year reached 2.7 billion euros, which is an increase of 4% compared to the same period of the previous year. At the same time, it holds orders of nearly 6 billion euros.
Fueled by growth in markets such as energy, oil and natural gas, raw materials, transportation and public transport, sales of Voith Hydro, Voith Turbo, and Voith Industrial Services are on the rise. Among them, the growth of Voith hydropower is particularly prominent, with a growth rate of 12%. Voith Drives sales revenue increased by 7% and Voith Industrial Services increased by 3%.
In the first half of 2011/2012, the Voith Group continued to increase its investment. The amount of investment increased by 45% compared to the same period of last year to 149 million euros, which represented 5.4% of sales, which was 3.9% higher than the same period of last year. China and Germany are two key areas of Voith's investment. In February of this year, Voith announced that it will increase its investment in China by 400 million euros within five years, and plans to increase the total number of its employees in China by 70% in order to continue to promote the rapid growth of Voith's business in China.
Voith Group President and CEO Hubert Lienhard said: “Despite the severe market situation, Voith once again proved that its business model is full of vitality. With a diversified product portfolio and solid market position, we were able to make the market weak. Still achieved satisfactory results.†In addition, in the first half of 2011/2012, Voith’s investment in R&D grew by 4% to EUR 134 million. Although the European debt crisis continues to intensify and Asian economic growth has slowed down, Voith Group still predicts that this fiscal year will achieve growth.
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