PDF (7.3 MB) - GILDEMEISTER Interim Report 3rd Quarter 2012

114Forecast Report: Future Business Environmentexpenditure, which will primarily be driven by the ongoing industrialisation process inthe emerging markets. In 2012 the vdw expects growth in consumption of 19%. (Status:November 2010). Current statements on the development of the industry’s profitabilityor on price and wage trends are not available. The global consumption of machine toolsand the market potential are reflected in the graph below.global conusmption of machine tools (2002 – 2012)in € billionCutting machine tools (comparable to gildemeister)Non-cutting machine tools5033.8(– 18%)32.7(– 3%)36.1(+ 10%)41.7(+ 16%)45.8(+ 10%)50.0(+ 9%)52.6(+ 5%)36.1(– 31%)45.0(+ 25%)53.9(+ 20%)64.3(+ 19%)4547.040353031.033.636.438.232.939.4252024.723.626.425.5151059.19.19.710.712.213.614.410.612.114.517.302002 2003 2004 2005 2006 2007 2008 20092010 2011* 2012*Source: World machine tools statistics of the vdw (without parts and accessories)* estimate of the vdw and Oxford Economicsbusiness reportSupplementary / Forecast ReportThe German machine tool industry starts the year 2011 with positive expectationsof the industry’s cyclical performance. The vdw and the British economic research institute,Oxford Economics, are expecting a rise of 32% in production and 30% in consumption.On a medium-term basis, forecasts for the years 2011 to 2013 anticipate averagegrowth in consumption of about 18% annually. The risk factors in this assumption areformed by the development of prices for raw materials and energy, changes in exchangerates and the prevailing political conditions.Source: “Global Machine Tool Outlook”, Oxford Economics.The consolidation processes (mergers and acquisitions) in the machine tool industrywill continue in 2011. The market entry of significant competitors and the introduction offundamentally new replacement products and services are not expected.