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            august 23, 2019

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CIBE 2019

LKW Walter

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New target: 75,000 vehicles by 2016


Production trebled, turnover doubled: Schmitz Cargobull AG overcame the crisis on the trailer market in the 2010/2011 business year (01.04.10-31.03.11). The market leader exceeded its original forecast of 18,000 vehicles for the year by over 100 per cent with a total of 36,053 vehicles produced. The turnover increased from 666 m € to 1.27 billion €. After the losses in the crisis year of 2009/2010 the company once more achieved a profit before tax of 34 m €. The number of employees grew from the beginning of the business year (1 April 2010) from 3,239 to 4,476 (Status: end of March 2011). "Fortunately, we have been able to hold on to our highly qualified workforce despite the recession.  And thus we could get started again very quickly", is how Chairman of the Board, Ulrich Schümer, takes stock of the situation.
Continuous development work, consistent customer orientation and permanent qualification of staff: A close eye has always been kept on these central aspects by Schmitz Cargobull, even during the crisis in the industry. "The X-LIGHT series vehicles, the "Sliding Micro Post (SMP)" tarpaulin system and the second generation of the TrailerConnect® telematics system are prime examples of our powers of innovation", explains Schümer. In addition to the constant improvements in products and services, our flexibility and the high level of technical expertise of our workers form the basis for the future of our company. „After our return to a growth trend, in our medium-term strategy we intend to achieve an annual volume of 75,000 vehicles and a turnover of 2.7 billion €" by 2016/2017, declares Ulrich Schümer. In the current business year it is already planned that the production should increase to more than 46,000 vehicles.
The business year 2010/2011 was marked at the beginning by the consequences of the profound crisis in the commercial vehicle industry. In this context Schmitz Cargobull AG had to reduce its production capacity quickly and flexibly. We were able to avoid compulsory redundancies at the German locations thanks to the economic revival since the spring of 2010. We were only able to succeed in adjusting production quickly once more to the growing demand thanks to the help of the highly qualified workers and efficient suppliers.
The size of the workforce climbed very quickly from 3,239 to 4,476 as a result of the rapid growth in order intake. Across the company the number increased even further in June 2011 to 4,708. Throughout the Schmitz Cargobull Group 36,053 vehicles were manufactured during the 2010/2011 business year. The increase in demand was spread across all sectors. In addition to the German domestic market, Poland, France and Scandinavia, in particular, showed a positive development. Russia, too, had a rapid return to growth with around 5,000 vehicles after the severe slump in the previous year.
A negative effect on results was caused by the massive increase in raw and finished material costs. Steel, aluminium and rubber products in particular contributed to the rise in cost. Overall, Schmitz Cargobull was able to make use of its position as the largest trailer manufacturer in Europe and to secure or gain market shares.

Growth potential in China
Schmitz Cargobull was also able to preserve its stable financial situation with a high level of equity of around 52 %. The company finances its investments from its cash-flow and has liquid assets of 132 m €. Investments amounted to about 10 m €. In the current business year it is planned to invest about 44 m €, based on the recovery in the market.
The management sees opportunities for growth on the Chinese market. Against this backdrop Schmitz Cargobull signed a letter of intent (LOI) in April with the Dongfeng Motor Company Ltd. Both sides agreed to establish a joint venture with the objective of producing and selling semitrailers.
During the business year, to ensure continuity in the company management, the supervisory board extended the contracts of the board members, Ulrich Schümer (Chairman of the Board), Ulrich Schöpker (Board Member for Sales in Western Europe and Andreas Schmitz (Board Member for Sales on Central and Eastern Europe), ahead of schedule to 15 December 2016.

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