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News Release from: Walter GB
Edited by the Manufacturingtalk Editorial
Team on 24 February 2003
Toolmaker's end-of-year figures are good
Considering the current trading difficulties in Europe and the US, unaudited figures for 2002 reveal that toolmaker Walter consider results were "good" for the year.
Following provisional unaudited figures for the year 2002, Walter AG achieved a consolidated turnover of EUR 266.8 million (2001: EUR 295.5 million) and a profit of around EUR 21 million (2001: EUR 38.1 million) before interest and taxes (EBIT) Based on a strong first half-year and a weak second half of the year, the order intake for 2002 amounted to EUR 261.1 million
The decline of eight per cent compared with the previous year (2001: EUR 283.8 million) was most significant for the machine division and reflected European and US customers' reduced willingness to invest.
Having initiated a plan for reducing costs and obtaining process optimisation, the figures reflect how the Walter group systematically adapts its structure and resources to suit the changing business environment.
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