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

The Executive Board13Letter from the Chairmanof this lies predominantly our cooperation with the Japanese machine tool builder,Mori Seiki. It is progressing successfully and we have it to thank for numerous ideas,suggestions and impetus.We do not envisage any significant acquisitions at the current time; as necessary,we check them out should they contribute value enhancement. Our growth should occurorganically and be strongly driven by our own innovative strength.What are our goals for 2011? Our business model and our corporate strategy haveproven themselves also in times of crisis. We have a good starting position that allows usto grow again. We anticipate that demand for our innovative products and user-orientedtechnology will increase noticeably. Impetus is coming primarily from the Asian growthmarkets. This is where we will further strengthen our sales and services and our productionplant in Shanghai, and will consolidate our position.In the medium-term we are placing high expectations on energy technology. Withour solar and energy storage products we have entered a growing future market, whichwill steadily gain in importance. This segment is already contributing a notable amount tosales revenues.gildemeister is planning even closer cooperation with Mori Seiki. It has beendemonstrated that the reciprocal synergies release a considerable amount of additionalstrengths. Within the scope of our long-term corporate strategy, we will extend thesuccessful cooperation sustainably, namely in the areas of production and components,purchasing, research and development, as well as in sales and services. This also includesfinance solutions, which we offer jointly. Machine tools are capital-intensive investmentgoods, which are not always easy to finance, especially for small and medium-sizedcompanies. With mg Finance GmbH, we create attractive and individual financingsolutions for our customers.The Executive Board passed a resolution on 15 March with the consent of the SupervisoryBoard to carry out the capital increase, which was already announced at the endof last year, at short notice. gildemeister is confident of achieving a significant inflow offunds. Further information can be found in the “Share” chapter on page 78 et seq.gildemeister takes an optimistic view of the financial year 2011. Dear shareholders,the current financial year will carry on from the successes of previous years.We will use our full endeavours to ensure that gildemeister returns to the profitablegrowth trend. We anticipate further growth in worldwide machine tool demand and