The Voith Group performed satisfactorily in a challenging environment over the 2022/23 fiscal year (October 1, 2022 to September 30, 2023). Both in terms of operating business and financially, Voith remains in a robust position. The Company increased all key performance indicators in the reporting year and reached the defined growth and earnings objectives. Group net income improved compared to the previous year. The broad sectoral and geographical diversification, the established market position in the three Group Divisions and regional supply chains contributed to the encouraging development.
“In the past fiscal year, Voith has once again proven its resilience. Despite a challenging economic environment, we continued to generate profitable growth and increased cash flow. The clear focus on sustainable technologies is paying off,” comments Dr. Toralf Haag, CEO of Voith.
2022/23 fiscal year at a glance: All key performance indicators improved
The Voith Group increased all of its key performance indicators over the 2022/23 fiscal year. All three Group Divisions contributed to this development.
At € 6.14 billion, orders received exceeded expectations once again and increased 19 percent on the high level seen in the previous year. The orders on hand reached a new all-time high at € 7.22 billion. Over the same period, Group sales rose by 13 percent to € 5.51 billion. The operating result (EBIT) was € 245 million. The return on sales improved to 4.4 percent (previous year: 4.1 percent), while the return on capital employed (ROCE) increased to 12.1 percent (previous year: 10.5 percent). The Group net income rose to € 73 million as a result of the favorable development of the operating business over the reporting period and despite the higher interest rate level and the associated increase in financing costs.
The increase in earnings was achieved and further investments in the future were made. Expenditure on research & development increased by 9 percent to € 232 million. Financially, the Voith Group remains in a sound position. The equity ratio stood at 23.9 percent in the reporting year (previous year: 24.1 percent). The operating net cash flow saw a positive development in comparison to the previous year and returned a figure of € 306 million (previous year: € 93 million). Likewise, the net debt also improved.
Dr. Toralf Haag: “Our net assets and financial position are sound. The reliable long-term access to capital gives us the necessary entrepreneurial scope to invest in further profitable growth and into the future viability of Voith.”
The Voith Group is a global technology company. With its broad portfolio of systems, products, services and digital applications, Voith sets standards in the markets of energy, paper, raw materials and transport & automotive. Founded in 1867, Voith today has around 21,000 employees and earns 4.9 billion euros in sales. It has locations in more than 60 countries and is one of Europe’s major family-owned companies.