Annual Report 2011 (5.07 MB, PDF-File) - Oerlikon

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3.1 Oerlikon Textile 1. In 2011, Oerlikon Textile reached a new level of profitability with a record EBIT margin of 9 % and EBIT of CHF 183 million. 2. Catch-up effects from the economic crisis 2008/2009 have pushed up sales to a high level of CHF 2 037 million. 3. Asia, the world’s most important textile market, is the clear focus of the Segment: its headquarters has moved to China. Key figures in CHF million 2011 2010 % Order intake 1 977 2 509 –21 Order backlog 1 053 1 197 –12 Sales (to third parties) 2 037 1 653 23 EBIT 183 21 >100 EBIT margin 9 % 1% – Best-in-class Rieter: double-digit EBIT margin expected (2011) Market presence of Oerlikon Textile Food Clothing Transportation Infrastructure Energy Electronics Others End applications based on Oerlikon technologies Technical clothing Fashion Carpeting Tire cord Artificial turf New materials Geotextiles
Business development Oerlikon Textile delivered significantly improved profitability in 2011, producing a record EBIT margin of 9 %. All Business Units generated strong sales growth and made a positive contribution to the Segment’s profitability. The Segment’s EBIT of CHF 183 million clearly reflects the positive impact of the operating improvements made in all of its business locations (EBIT 2010: CHF 21 million). Sales at Oerlikon Textile rose by 23 % from CHF 1 653 million to CHF 2 037 million. As expected, order intake decreased to CHF 1 977 million after hitting a high of CHF 2 509 million in 2010. This decrease was due to weaker demand for natural fibers in the second half of the year, a development fueled in part by higher prices for cotton. As the year progressed, this portion of the market stabilized on a moderate level. Demand in the manmade fiber sector remained steady at a high level, primarily because of the rapid rise in Chinese domestic demand stimulated by government policies encouraging the switch-in to manmade fibers. Order backlog totaled CHF 1 053 million (previous year’s level: CHF 1 197 million) and the Segment’s order book now extends through 2014. All of Oerlikon Textile’s production facilities are operating at near full capacity as a result. In regional terms, the primary drivers of growth were the Chinese and Indian markets. The Segment also delivered Key topics Focus on Asia: At the end of 2011, Oerlikon Textile announced that it would further concentrate its focus on Asia and simplify its organization. The Segment, which has been doing business in Asia for nearly 50 years, will intensify its market and customer centricity in this most critically important region. The refocusing of Oerlikon Textile involves three key elements: Organizational streamlining by merging the five businesses into three Business Units (BU) effective as of January 1, 2012: Oerlikon Barmag and Oerlikon Neumag have been combined to create the new Manmade Fibers BU. Oerlikon Schlafhorst and Oerlikon Saurer have become the Natural Fibers BU. The structure of the Textile Components BU was not affected by the realignment. Branding will not change. Outlook: slight profitability growth, slight sales decline Oerlikon Textile achieved high sales in 2011 following very strong order intake in 2010, a year in which customers caught up on investments postponed during the financial crisis of 2008/2009. In 2012, Oerlikon Textile expects a softening of overall market demand. The Segment anticipates continued growth for Manmade Fibers, flat sales for Textile Components and a decrease in sales for Natural Fibers. Textile expects sales to slightly decline, whereas profitability should show a slight improvement. 23 growth in Europe, Turkey, South America and the United States, while markets in the Middle East were broadly stable. In China, the most important world textile market, Oerlikon is the technological leader and one of the largest textile machine manufacturer. The Chinese market accounted for 40 % of the Segment’s total sales in 2011 remaining on the same level as 2010. Asia’s overall share totaled 68 % (2010: 64 %). Europe’s was 15 % (2010: 15 %) and North America 7 % (2010: 11 %). To further improve strategic positioning, the Segment continued to fine-tune its range of products during the course of the year. The Oerlikon Neumag Business Unit divested its Carding business, where about 250 employees make special equipment and components for nonwoven production, to the Chinese Hi-Tech Group Corporation. The Segment’s position as the industry’s technological leader was further enhanced in 2011. At the world’s largest textile trade fair, the ITMA, held in Barcelona in September, Oerlikon Textile presented groundbreaking innovations, including seven newly developed machines and more than 20 new components. These innovations were characterized by lower energy consumption, higher efficiency, flexibility and quality. Relocation of Textile’s headquarters to Shanghai: Oerlikon Textile executives, including the CEO and the CFO, will work out of Shanghai. By the end of 2012, more than 40 % of all senior management positions will be based at Oerlikon’s new office there. R&D investment in Germany and China: In 2012, Oerlikon Textile will boost its R&D expenditures in Germany to about CHF 60 million (around CHF 80 million around the world) and expand R&D capacities in China.
Page 1 and 2: on a new level Annual Report 2011
Page 3 and 4: Vision Oerlikon creates innovative
Page 5 and 6: Oerlikon’s Segments in brief Text
Page 7 and 8: On a new level 2011 was a year of s
Page 9 and 10: I. Operational review We achieved a
Page 11 and 12: Dear Shareholders, 2011 was a break
Page 13 and 14: Solid performance of Oerlikon share
Page 15 and 16: Remuneration Report Risk Management
Page 19 and 20: Achieving a new level of profitabil
Page 23: Remuneration Report Risk Management
Page 26 and 27: Dr. Michael Buscher, CEO Oerlikon G
Page 31 and 32: Turnaround time reduced by 40 % The
Page 33 and 34: Turnaround time reduced by 40 %
Page 35: Business development Oerlikon Drive
Page 38 and 39: Gary Lehman, CEO Oerlikon Drive Sys
Page 40 and 41: 3.3 Oerlikon Vacuum 1. Oerlikon Vac
Page 43 and 44: Output improved by 30 % “For a lo
Page 45 and 46: Output improved by 30 %
Page 47: Business development In 2011, the s
Page 50 and 51: Helmut Frankenberger, CEO Oerlikon
Page 52 and 53: 3.5 Oerlikon Coating 1. Oerlikon Co
Page 55 and 56: Productivity gains boost profitabil
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Page 64 and 65: 4.0 Sustainability 1. Oerlikon prod
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Page 68 and 69: 5.0 Compliance 1. In 2011, Oerlikon
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Page 76 and 77: 58 Stability and competence The Oer
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60 Composition of the Board of Dire
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62 Composition of Committees of the
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64 Letter Information for Investors
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68 Leadership and accountability Th
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70 Composition of the Executive Com
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7.0 Remuneration report In this rem
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78 Compensation of non-executive me
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82 Share options Letter Information
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8.0 Risk management 1. The 2011 enh
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Contents I. Operational review 1.0
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Key Figures Group Notes OC Oerlikon
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102 Expenses included in EBIT Key F
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104 Deferred taxes Key Figures Grou
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106 Financial investments Key Figur
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108 Property, plant and equipment i
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110 Key Figures Group Notes OC Oerl
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112 Intangible assets Previous year
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114 Post-employment benefit provisi
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116 Provisions in CHF million Key F
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118 Liquidity risk Key Figures Grou
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120 Credit risk Key Figures Group N
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122 Market risk Key Figures Group N
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124 Capital management Key Figures
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126 Related Party transactions Key
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128 Related Party transactions Memb
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130 Segment information Key Figures
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132 Companies by country Country Pr
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134 Report of the Statutory Auditor
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Contents I. Operational review 1.0
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9.0 Outlook for global markets Tren
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Remuneration Report Risk Management
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10.0 Research and development In 20
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166 Innovation highlights Oerlikon
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168 Oerlikon Vacuum MAGiNTEGRA: rob
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170 Oerlikon Coating INGENIA: the q
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11.0 Expanding the global footprint
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174 Oerlikon further expands in gro
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176 the greater the opportunity for
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Financial calendar March 5, 2012 An
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AB Applied Biosystems ∙ ABB ∙ A
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Annual Report 2011 (5.07 MB, PDF-File) - Oerlikon

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