We make our customers successful. - Oerlikon Barmag

Management’s discussion of results
Sales development
Change Adjusted change
(EUR 000) 2003 2002 in % in % 1)
Saurer Textile Solutions 1 275 371 1 211 521 5.3% 8.3%
Natural Fibers 732 519 774 181 –5.4% –2.2%
Europe 126 833 150 747 –15.9%
North and South America 136 970 162 514 –15.7%
Middle/Far East, Rest of World 468 716 460 920 1.7%
Synthetic Fibers 542 852 437 340 24.1% 26.7%
Europe 67 113 100 439 –33.2%
North and South America 46 063 43 675 5.5%
Middle/Far East, Rest of World 429 676 293 226 46.5%
Transmission Systems 363 009 380 172 –4.5% –3.7%
Europe 288 492 298 742 –3.4%
North and South America 60 210 72 521 –17.0%
Middle/Far East, Rest of World 14 307 8 909 60.6%
Discontinuing Operations (Surface Technology) 107 494 105 799 1.6% 9.7%
Europe 37 512 39 573 –5.2%
North and South America 59 389 57 800 2.7%
Middle/Far East, Rest of World 10 593 8 426 25.7%
Total Saurer 1 745 874 1 697 492 2.9% 5.7%
Europe 519 950 589 501 –11.8%
North and South America 302 632 336 510 –10.1%
Middle/Far East, Rest of World 923 292 771 481 19.7%
1) adjusted for currency effects and acquisitions
Compared to the previous year, group sales were up by EUR 48m.
The cyclical decline in the natural fiber sector was more than compensated
by a significant increase in the synthetic fiber business.
The general shift of textile machine business away from Europe and
North America towards Asia and the Middle East, apparent since
1999, was clearly evident again this year. Business activity in China
Order Backlog
Change Adjusted change
(EUR 000) 2003 2002 in % in % 1)
Saurer Textile Solutions 391 393 451 315 –13.3% –10.6%
Natural Fibers 128 206 235 632 –45.6% –44.0%
Synthetic Fibers 263 187 215 683 22.0% 26.0%
Transmission Systems – –
Discontinuing Operations (Surface Technology) 17 628 14 881 18.5% 44.5%
Total Saurer 409 021 466 196 –12.3% –8.8%
1) adjusted for currency effects and acquisitions
The high order intake of 2002 was not achieved this year because
of weak demand in the natural fiber sector later in the year. Order
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was more than double that of 2002. In Transmission Systems, with
immediate order delivery, development of sales was equivalent to
that of order intake described above. With the additional EUR 7m
sales of New Castle Industries, acquired in August, Surface Technology
closed the year with sales ahead of last year, despite the
divestment of the European Xaloy business units late in the year.
backlog was increased however in the synthetic fiber sector and in
Surface Technology.