BUSINESS AS USUAL
It was not really surprising that we posted further growth in the first quarter. Our operating profitability rose, too. So one could say we are headed in the right direction. And we are. In the LAND segment, performance was good primarily in Europe and North America, but we also gained ground in China and Russia. Only South America is still a problem child, but even there we are witnessing stabilization at a low level. In the SEA segment it’s a different story. We are still struggling with declining revenue and this is having a very negative effect on profitability. For the time being, no obvious upturn is in sight. Well, on the bright side, it can only get better.
WHAT CAN WE EXPECT?
Things are looking really good. The order book is at a record level and incoming orders continue to be high. As a consequence, capacity utilization is excellent, which is what we like to see. Yes, it’s true that we have not completed our restructuring yet and it’s going to cost us money this year again, but at least there won’t be any more major one-offs in North America in the second half of the year. And in the marine business a lot of restructuring has been done as well, and we are currently evaluating additional measures. Therefore, our outlook for 2018 as a whole is highly positive. Anything but a record year in terms of revenue and operating profitability would be a huge surprise.
Here you can find the Interim Report for the First Quarter of 2018: The future is never standing still.