TRUMPF Group closes fiscal year 2021/22 with strong sales growth

At the end of the 2021/22 fiscal year on June 30, 2022, the TRUMPF Group recorded the highest sales in the company’s 99-year history with a strong increase in sales of 20.5 percent to 4.2 billion euros (2020/21 fiscal year: 3.5 billion euros).

Incoming orders increased by 42.1 per cent to a value of 5.6 billion euros (financial year 2020/21: 3.9 billion euros). The operating result before interest and taxes (EBIT) developed positively with 468 million euros and increased by 26.8 percent compared to the previous year (370 million euros). TRUMPF was able to stabilise the result through strong sales growth, especially in the EUV business field, as well as through savings in material costs. As a result, TRUMPF achieved an EBIT return of 11.1 percent (previous year: 10.5 percent).

Nicola Leibinger-Kammüller, Chairwoman of the Managing Board of TRUMPF: “Thanks to consistent crisis management, TRUMPF has come through the pandemic well and has parried the supply chain bottlenecks in the best possible way. As a result of the strong increase in demand in the second half of the year, we have started the new fiscal year with a high level of incoming orders. Nevertheless, there remains a great deal of uncertainty for the coming months as to how the bottlenecks in the supply chains, high inflation, rising material and energy prices as well as transport costs will affect our business. I am also pensive about the overall economic development in view of the geopolitical uncertainties – besides the war in Ukraine, for example, the tensions between the USA and China. We are noticing a growing restraint in demand in many markets.”

TRUMPF’s largest individual markets

The TRUMPF Group’s sales shares changed away from Asia in favour of Europe and North America during the reporting period: with sales of €838 million (previous year: €461 million), the Netherlands is TRUMPF’s largest single market in terms of sales for the first time in fiscal year 2021/22.

This increase corresponds to a sales increase of 81.9 percent and is due to the strong growth of the EUV business field with the customer ASML. In addition, the USA has become the second strongest market with 656 million euros; in the previous fiscal year, the USA was still in third place. Germany with 589 million euros in sales (previous year 579 million euros) is thus for the first time no longer TRUMPF’s largest single market, but only ranks third.

The largest single Asian market, China, lagged behind the strong growth of the previous year and only increased by 9.6 percent to 575 million euros (previous year 525 million euros) and thus ranks fourth. Corona infections and development of employee numbers up to 30.6.2022 As of the reporting date 30.6.2022, the company recorded 3,958 corona infections worldwide (previous year: 877), of which 822 were in Ditzingen (previous year: 114), which is due to the overall stronger infections abroad as well as advanced test diagnostics and systematic recording.

The number of TRUMPF employees increased by almost 2,000 during the reporting period. In particular, new jobs were again created in the growth fields of EUV and electronics. As of June 30, 2022, the company had 16,554 employees worldwide (previous year: 14,767). In Germany, the number of employees rose by 10.7 percent to 8,417 (previous year: 7,602). Of these, 4,894 work at the headquarters in Ditzingen and Gerlingen. In the reporting year, 521 young people completed an apprenticeship or a course of study at the Cooperative State University. At 3.3 per cent, the rate was slightly below the previous year’s level (3.6 per cent).

Effects of the gas shortage and price increase / climate protection

TRUMPF is not a gas-intensive company and requires gas primarily locally to heat production and office buildings. The ratio of energy costs to sales in fiscal year 2021/22 was 1.0 percent (42 million euros/4,223 million euros). In the 2022/23 fiscal year, however, the company expects a noticeable increase. The TRUMPF Group’s natural gas consumption in the past fiscal year was 61,200 MWh. This corresponds to 3,600 4-person households. In Germany, consumption was 35,600 MWh. This corresponds to 2,000 4-person households.

During the reporting period 1.7.2021-30.6.2022, the company was only marginally affected by the impact of the increase in gas prices due to a shortage of capacity. In April 2022, the TRUMPF Managing Board nevertheless decided on forward-looking measures, particularly for gas reduction, which continue to the present day. As of May 2022, gas consumption at the headquarters in Ditzingen could be reduced by a good half during the summer months.

The main measures were the use of new heat pumps, the reduction of system running times and dehumidification in the air conditioning systems, especially in the offices, as well as system optimisations (e.g. lowering the setpoints). TRUMPF is currently examining further measures for the more heating-intensive winter months. The electricity demand of the TRUMPF Group worldwide is 166,000 MWh, of which 100,400 MWh are in Germany. The TRUMPF Group covers 100 percent of this demand with green electricity or offsets it with certificates.

Regardless of the energy consumption and supply discussions, TRUMPF has implemented further climate protection measures in accordance with the company’s climate strategy. In addition to increasing energy efficiency at the locations worldwide, which save 1.5 percent electricity and 3 percent natural gas and heating oil annually, the focus is on increasing energy efficiency in the company’s own production by using process waste heat from production for heating. At the customer level, the company has pushed ahead with measures to improve the environmental footprint of its products.

Investments and acquisitions

While investments were cut back in the previous year due to the pandemic, they increased again in the 2021/22 fiscal year. TRUMPF invested a total of € 218 million (previous year: € 145 million) in land and buildings, technical equipment and operating and office equipment. In July 2021, TRUMPF increased its existing shareholding in the Dresden software company ZIGPOS GmbH from 25.1 percent to 51.3 percent.

In August 2021, TRUMPF agreed on a strategic partnership with the Italian company STARMATIK S.r.l. and acquired a 25.1 percent share in STARMATIK. The shares of SISMA S.p.A., also based in Italy, were increased from 55.0 percent to 100.0 percent at the turn of the year 2021/22. At the beginning of 2022, TRUMPF acquired an 80.0 percent stake in Active Fiber Systems GmbH (AFS) in Jena for the further development of the ultra-short pulse laser portfolio. In May 2022, the company acquired the remaining 49.0 percent in the Indian software developer TRUMPF Metamation Private Limited.

TRUMPF is a research-intensive company far above the industry average. The number of employees in research and development rose by 14.3 percent to 2,623 (previous year 2,294). Expenditure on research and development, at 448 million euros, was significantly higher than in the previous year (382 million euros). In relation to the strong increase in sales, the development ratio decreased slightly to 10.6 percent (previous year 10.9 percent), but remained at a very high level, far above the industry average.

For more information about the TRUMPF Group, please visit trumpf.com.