Trumpf reports declining sales and order intake for 2023/24

At the end of the 2023/24 financial year on June 30, 2024, the Trumpf Group recorded a decline in sales of 3.6 percent to 5.2 billion euros (2022/23 financial year: 5.4 billion euros). Incoming orders fell for the second time in a row to EUR 4.6 billion (financial year 2022/23: EUR 5.1 billion). This is 10.4% less than in the previous year. Earnings before interest and taxes (EBIT) fell by 114 million euros to 501 million euros as a result of the decline in sales compared to the previous year (615 million euros). The EBIT margin fell to 9.7 percent (previous year: 11.5 percent).

Trumpf's largest individual markets

Trumpf's strongest single market in terms of sales was Germany with 824 million euros (previous year: 779 million euros), which corresponds to an increase of 5.8 percent. In the USA, however, sales fell significantly by 11.5 percent to 796 million euros (previous year: 899 million euros). In China, the largest Asian market, Trumpf increased sales slightly by 2.2 percent to 615 million euros (previous year: 602 million euros). Looking at the divisions, the Machine Tools division achieved the highest turnover at 2.8 billion euros (previous year: 3 billion euros). The Laser Technology division recorded declining sales of 1.4 billion euros in the reporting year (previous year: 1.5 billion euros, adjusted for the Electronics division). Sales in the Electronics business division, which has no longer been part of Laser Technology since the 2023/24 financial year but is reported separately, amounted to EUR 572 million. This corresponds to a slight increase of 4.8% compared to the previous year (546 million euros). The EUV business segment, which is also reported separately, achieved sales of 943 million euros. This corresponds to a slight decrease of 2.9 percent compared to the previous year (971 million euros).

Trumpf employee numbers increase

The number of Trumpf employees increased by around 650 in the reporting period. New jobs were created in the EUV and Electronics business units in particular. As at June 30, 2024, the company employed 19,018 people worldwide (previous year: 18,352). In Germany, the number of employees rose by 4.2% to 9,505 (previous year: 9,124). Of these, 6,283 worked at the headquarters in Ditzingen, Gerlingen, Hettingen and Höfingen. In the reporting year, 560 young people completed an apprenticeship or course of study at the Cooperative State University. The ratio was therefore 2.9% (previous year: 3.5%). The number of employees in research and development rose by 8.6% to 3,098 (previous year: 2,853). At 530 million euros, expenditure on research and development was significantly higher than in the previous year (476 million euros). The ratio of development costs to sales thus increased to 10.3% (previous year: 8.9%) and remained at a historically high level, well above the industry average.

Global economy causes restraint in new investments

Nicola Leibinger-Kammüller, CEO of Trumpf, said at the presentation of the balance sheet in Ditzingen: "The slowdown in the global economy and geopolitical uncertainties led to a significant reluctance to make new investments among customers on all continents in the past financial year. We felt the effects of tougher competition than ever before, in some cases with protectionist measures from Chinese competitors. In terms of the outlook, we assume that the coming months of the current financial year will continue to be characterized by persistently weak demand. Trumpf is countering this economic crisis with clear measures to improve earnings, among other things."