In the first half of the current fiscal year (October 2015 to March 2016), Voith Group's new orders have increased significantly and sales have been strong. The Group's net income increased significantly from the same period last year. The mid-term financial figures were affected by irregular projects and an agreement was signed with Triton to sell Voith Industrial Services. Voith CEO Linhard said: "We will continue to promote the Voith 150+ success plan on a full scale." Heidelberg, Germany: The Voith Group is steadily advancing its transformation initiatives. In the first half of fiscal year 2015/16, Voith’s operating business continued to grow despite the continued sluggish investment climate. In addition, Voith also steadily promotes strategic transformation and shapes the engineering technologies required in the digital era. As an important measure for the future application of Layout Industry 4.0, the newly established Voith Digital Solutions Division was put into operation on April 1, 2016 as scheduled. In addition, Voith sold a majority stake in Voith Industrial Services to the private equity firm Triton, achieving another milestone in the Group's transformation. Both parties reached and announced the sale agreement in May this year. Dr. Linhard, Group President and CEO, stated: “Although the economic environment in the current fiscal year is full of challenges, we are still advancing steadily and implementing our projects step by step in an orderly manner. It is challenging and lacks economic growth. In the market environment, the group division has made great progress." In the first half of the current fiscal year (October 2015 to March 2016), Voith Group and its continuing operations (ie other than the Voith Industrial Services Division) received orders totaling €2.16 billion. , an increase of 19% over the same period last year. The total amount of orders held by the Group increased to 5.49 billion Euros, which was also higher than at the end of the previous fiscal year (5.29 billion Euros). Voith’s existing business has sales of 2.04 billion euros, which is basically the same as in the previous fiscal year. Half of its decline was caused by the negative impact of exchange rate fluctuations. Compared with the previous fiscal year, the overall operating profit of the Voith Group increased slightly. However, due to the one-off valuation effect of certain foreign currency foreign currency projects, the Group’s operating profit dropped from 120 million euros to 97 million euros compared with the same period last year. Within half a year, the group's net profit improved significantly from minus 131 million euros to minus 48 million euros, partly because of the high restructuring costs. Excluding the 71 million euros in the impact of impairment (including securities impairment), Voith Group obtained a net profit of 23 million euros in the first half of this fiscal year. “Excluding the impact of unconventional projects in the first half of the year, the Voith 150+ success plan we implemented throughout the group is making progress. The basic profitability of the Voith Group has improved significantly.†Linhard elaborated on the top half of the group. The overall development of the year was expressed. The three existing business divisions have a good momentum of development In the first half of this fiscal year, the three existing business units all achieved good performance. Based on a good routine business, Voith Hydro's hydropower project has received orders from a major Canadian hydropower project to supply six vertical shaft Francis turbines for the “C dam clean energy project†in the Peace River in northeastern British Columbia. Six generator sets and auxiliary equipment. The contract amount is about 320 million euros. As a result, the total orders received by the Voith Hydro Division increased significantly over the same period of last year, and sales remained stable, exceeding expectations. This has also contributed to the strong development of the hydropower service business and the higher than expected sales of hydropower plant equipment and modernization projects. Due to the softening of the project business, the new orders and sales of the Voith Paper Division were lower than the extremely strong last fiscal year. Given the continuing downturn in the market environment, Voith Paper’s earnings figures are still stable at a satisfactory level. Voith Turbo's business operations are differentiated. Due to the plunge in the prices of oil and raw materials, major customers in the industry have adopted prudent investment attitudes, and energy, oil and gas, mining and metals businesses have been affected. In contrast, the track and commercial vehicle business performed strongly. Overall, despite the decrease in new orders from Voith Turbo, sales still increased. Group maintains forecast for sales and new orders In the second half of this fiscal year, the Voith Group expects the economic environment of its business to remain severe. Voith expects that the global economic development will remain weak, and the environment for investing in commodities will still face many difficulties. At the end of the first half of this fiscal year, Voith still maintained its forecast for sales and new orders, despite the fact that all three existing business divisions are developing well. The Group expects its overall sales in FY2015/16 to remain stable, with new orders basically the same as last year. This fiscal year's operating profit and net profit may not meet annual expectations. Given the valuation effect of foreign currency projects, operating profit is expected to decline, which may offset the positive effects of the Voith 150+ program. In spite of this, the group's net profit for the year still improved. However, due to the negative impact of impairment, it will not be able to achieve the original goal of turning the group's net profit into profit.
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