Preface

Dear Shareholders,

despite the debt crisis, worldwide demand for machine tools remains at a high level. GILDEMEISTER was able to increase order intake, sales revenues and earnings figures in the third quarter in line with plans.

As of 30 September 2011, order intake reached € 1,512.3 million (+49%). Sales revenues exceeded the previous year’s figure at € 1,194.3 million (+39%). Profitability grew in line with plans: EBITDA reached € 89.6 million (previous year: € 30.2 million), EBIT rose to € 66.5 million (previous year: € 9.1 million). EBT amounted to € 26.6 million (previous year: € – 18.3 million). As of 30 September 2011, the group reports earnings after taxes of € 18.1 million (previous year: € – 13.6 million).

The EMO 2011 (19–24 September) was particularly successful for gildemeister. The most important trade fair worldwide for machine tools was the most successful EMO of all time with the highest order intake at a trade fair in the company‘s history. As a result, sales of 847 machines to a value of € 207.6 million were booked.

Following the slogan “Cooperation strengthens innovation”, GILDEMEISTER and Mori Seiki presented the latest trends together for the first time in Germany. Our successful cooperation in the Asian and North American cooperation markets will be further extended through combining our sales and service activities in Germany and ultimately in the remaining European markets.

The good EMO has shown that demand for machine tools remains high. In the latest forecast (as at October 2011), the economic associations, VDW (German Machine Tool Builders Association) and Oxford Economics, are expecting growth in worldwide machine tool consumption for 2011 of 16.9% to € 52.6 billion (forecast April 2011: 19.6%).

For the whole year 2011, we are raising our order intake forecast. From now on we are expecting order intake of more than € 1.9 billion. We intend to increase sales revenues to more than € 1.6 billion. We are expecting clear growth in EBIT, EBT and also in annual profit for the whole year. Due to the effects of the worldwide debt crisis, which cannot be foreseen as yet, specific statements are not possible at present. We are planning to distribute a dividend for financial year 2011.

picture: EMO 2011 in Hanover To top

EMO 2011 in Hanover

With order intake of € 207.6 million and 847 machines sold, GILDEMEISTER took positive stock of the EMO 2011. The good course of the EMO has shown that demand for machine tools remains high.

The cover shows the DMG / MORI SEIKI booth in hall 2. As the biggest exhibitor DMG / MORI SEIKI for the first time jointly displayed at the EMO 97 high tech machines, 25 of which are world premieres.