Kuka starts the year with more profit

0
18


The distinctive orange kuka robots are known.
Picture: dpa

2018 did not go well for Kuka, but CEO Mohnen is more optimistic this year. Above all, austerity measures are supposed to help.

NAfter the weak business figures last year, the robot builder Kuka achieved a significant increase in earnings in the first quarter of 2019. The after tax profit climbed in the three-month period by more than half to 15 million euros, as the Augsburg company announced on Monday. At € 738 million, however, sales remained just below the level of the first quarter of 2018 at € 895 million.

Last year, Kuka had to repeatedly reduce its goals, CEO Peter Mohnen spoke of an "unsatisfactory" result. That's why the company wants to save € 300 million by 2021, and 350 out of 4,000 jobs will be canceled this year in Augsburg.

So Kuka 2019 wants to increase the annual turnover of 3.2 to 3.3 billion euros, earnings before interest and taxes (EBIT) should more than triple to about 115 million euros. "We expect further improvement in the second half of the year due to our market expectations," said Mohnen. Kuka is majority owned by the Chinese Midea group.

. (tagsToTranslate) Peter Mohnen (t) Kuka (t) ISIN_DE0006204407 (t) Financial year (t) Number of operations (t) Earnings plus (t) Profit after tax

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.