Annual Stockholders’ Meeting of Winkler+Dünnebier AG
At today’s Annual Stockholders’ Meeting, the Management Board of Winkler+Dünnebier AG (W+D) presented the annual financial statements for the company and the Group and the figures for the first four months of this year. The Group generated sales of €108.0 million and EBIT of €3.5 million in 2008. In the first four months of 2009 sales were €27.0 million, roughly unchanged from the same period of 2008. The weak order intake affected EBIT, which was minus €4.3 million due to underutilization of capacity.
Jochen Engelke, who was appointed Chairman of the Management Board on March 1, emphasized his confidence in W+D technology: “In the present difficult business conditions we must focus on our core competencies and utilize opportunities to transfer established technologies to related applications. W+D has a good deal of experience with security paper. That is an excellent example of the successful transfer of our innovative solutions to other markets.” Engelke also sees opportunities for the core business. Envelopes have a future and remain an integral part of W+D’s strategy. However, the company is currently concentrating on tackling the challenging economic situation. It has been facing declining order intake since the final quarter of 2008. A sales and service drive has been initiated to counter this. W+D is gearing its activities especially to service. “Through our Technical Improvement Program (T.I.P.) we have launched innovative product upgrades that bring a direct improvement in customers’ productivity,” he explained.
He also drew attention to the reorganization of the Group and its workflows. Many processes at W+D are still based very heavily on small production runs. However, clear process orientation and project management are essential for individualized mechanical engineering of the type operated by W+D today.
The acquisition of automation specialist Langhammer, which also serves the food, beverage and tissue sectors, is a key step in the crucial diversification of W+D. “Together with our own automation solutions, we now have the technology required for virtually all applications, giving us a springboard for growth."
The figures for the first four months of 2009 were less satisfactory. The company’s CFO Dr. Manfred Kühn explained that the slump in orders had brought the company to the edge of its flexibility, requiring urgent realignment of cost structures. Orders were 16.9 percent lower than in the first four months of 2008 and the Management Board does not expect the economic situation to alter significantly in the remainder of the year. Consequently, the Management Board expects a loss for W+D this year but is unable to give any precise guidance in view of the present uncertain forecasting environment.
Winkler+Dünnebier is a company of Körber PaperLink, an international supplier of system solutions for the paper and tissue industries. Winkler+Dünnebier AG produces primarily envelope and handkerchief machines. Another focus is the manufacture of transport and palletizing devices for the paper, tissue and food industries. Winkler+Dünnebier has manufacturing and sales locations in Germany, the Americas, China and Malaysia. The experience and commitment of approximately 930 employees contribute to the company’s reputation for outstanding products and service.
Here you can find the key figures for the W+D Group at a glance.
Download for the Winkler+Dünnebier Annual Report 2008 in German (PDF).
