Plansee Group reports stability as raw material prices fall

July 10, 2017

July 10, 2017

Plansee Group has reported consolidated sales of €1.17 billion in its 2016/17 fiscal year, ending February 28, 2017, down slightly on the previous year’s figure of €1.18 billion. During the period, the company reported a total of €180 million was invested globally, with highlights including the construction of a new production and sales site in Korea, site expansions in India, China and Germany, and the acquisition of tool manufacturers Best Carbide in the USA and Becker Diamantwerkzeuge in Germany.

“Despite further declining raw materials prices, we have managed to stabilise sales at the same level as last year,” explained Dr Michael Schwarzkopf, Plansee Group Chairman of the Executive Board. Sales volumes and market share were reported to have shown continued growth in all regions.

The company reported that by region, 52% of sales were achieved in Europe, 24% in America and 24% Asia. The group is said to have benefited from the strength of the German export industry, in particular the automotive and mechanical engineering industries. There was also growth in the aerospace industry and in the field of alternative power generation (fuel cells).

As in previous years, the Plansee Group invested more than €60 million (5% of sales) into the development of new products and improved processes. The share of sales with new products (less than 5 years old) is said to remain above 30%. “Innovative products made from our metals tungsten and molybdenum for new applications in high-tech industries are the key to our continuing to be an attractive partner for our customers,” added Schwarzkopf.

It was stated that Plansee Group has continued to expand its industry portfolio over the last decade, and that in total all companies in which the Group has a holding achieved sales of €2.14 billion in the 2016/17 fiscal year.

Looking ahead, Plansee reported a strong start to the new fiscal year. Demand in the first quarter was said to be significantly higher than in the previous year, exceeding expectations. However, Schwarzkopf stated that he remains cautious about the future, as economic and political conditions are uncertain. Nevertheless, it was added that investment at least matching that of 2016/17 is planned for the current year, with some acquisitions currently under evaluation.

July 10, 2017

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