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

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3.2 Oerlikon Drive Systems 1. Oerlikon Drive Systems significantly increased its EBIT to CHF 49 million, an EBIT margin of 6 %. 2. The Segment expects further profitable growth to come, mostly from Asian and American markets, where it is already well-positioned today. 3. With innovative products for the growing markets of electromobility and for agricultural equipment, Oerlikon Drive Systems is well equipped to tap growth opportunities. Key figures in CHF million 2011 2010 % Order intake 892 792 13 Order backlog 213 137 55 Sales (to third parties) 821 733 12 EBIT 49 –27 n/a EBIT margin 6 % –4 % – Best-in-class Borg Warner: 11 % operating margin (2011) Market presence of Oerlikon Drive Systems Food Clothing Transportation Infrastructure Energy Electronics Others End applications based on Oerlikon technologies Agricultural equipment Sports cars Electric cars Airport equipment Off-highway Construction Energy
Business development Oerlikon Drive Systems continued to generate profitable growth in 2011, as the expected normalization of business took hold in the farming and construction sectors during the second half of the year. The Segment’s order intake climbed by 13 % to CHF 892 million (previous year: CHF 792 million). Order backlog increased by 55 % and totaled CHF 213 million (previous year: CHF 137 million). Sales rose by 12 % to CHF 821 million in 2011 compared with CHF 733 million in 2010. Following an EBIT of CHF –27 million in 2010, the Segment returned to profitability in 2011 through systematic execution of its strategy to accelerate profitable growth. Earnings recovered in 2011 to an EBIT of CHF 49 million, and an EBIT margin of 6 %. This growth was fueled by high global demand from customers in the heavy agricultural equipment and energy sectors. Growth was also generated in the construction machinery and material-handling equipment areas, and the demand for innovative transmission systems in high-performance cars continued to remain strong. In regional terms, Asia is a key growth market for Oerlikon Drive Systems. The Segment increased sales in the region by 9 % in 2011, and Asia accounted for 11 % of total sales in 2011. India and China generated growth momentum from both domestic Key topics Integration: The integration of Oerlikon Drive Systems under single leadership was implemented in the first half of 2011. Capacity expansion in Asia: The Segment is working to expand its production capacity in Suzhou, China, where a completely new facility is being built. As planned, the factory has began operating in the first quarter of 2012 with first products. In India, a location has been identified for a third plant and development plans are underway. Outlook: increased profitability, slight sales growth Oerlikon Drive Systems expects to deliver a solid performance in 2012. In its core markets agriculture, construction, energy and high-performance sports cars, the Segment expects slight sales growth and further increases in profitability resulting from Operational Excellence programs. 27 activity and increased demand by European and American customers producing for export. In India, strong domestic demand from agricultural and commercial vehicle manufacturers resulted in high-capacity utilization levels. Segment performance in European and North American markets was also strong: the agricultural market in Europe grew once again, and aerial-work platform activities accelerated in the United States – the new Torque-Hub ® electrically driven planetary drives provide innovative technology for this new generation of machinery. In terms of new products, three newly designed Oerlikon transmissions were presented in high-performance cars of customers in 2011: Aston Martin, Lamborghini, and McLaren, which uses our latest dual clutch transmission (DCT) technology. In the off-highway market, Oerlikon Drive Systems introduced a new series of electric Torque-Hub ® transmissions for the heavy commercial vehicles. The Segment was particularly active in the on-highway electric vehicle market in 2011. Two large vehicle manufacturers were supplied with Oerlikon transmission prototypes for sports car electric drive systems and a large fleet of electric city cars equipped with Oerlikon transmissions went into service in Paris. Operational Excellence: In addition to optimizing the network of international production sites, the Segment is focusing on improving its operational performance. Improved efficiency in procurement and production processes has had a positive impact on profitability, and along with efficiency improvements, modifications and consolidation of the product portfolio, has resulted in improved margins.
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 28 and 29: 3.1 Oerlikon Textile 1. In 2011, Oe
Page 31 and 32: Turnaround time reduced by 40 % The
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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
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Page 47: Business development In 2011, the s
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Page 55 and 56: Productivity gains boost profitabil
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66 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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