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Brief Report on Business Development in Fiscal Year 2014 and the Expectations for 2015

Diehl Holding

2014: Increase in sales and income  

In fiscal year 2014, the Diehl Group achieved sales of € 3,039.1 million, thus € 134.6 million or 4.6% more than in the year before. Controls, Aerosystems and Metering each saw distinct growth whereas Metall and Defence dropped below the previous year's level. The number of employees increased by 1,777 persons, or 12.2%, to 16,297. In 2014, the net operating income amounted to € 134.1 million (€ 104.3 million in 2013); the net income rose from € 48.1 million to € 80.0 million. 

2015: Only slight sales increase expected. Low interest rates burden income with additional pension reserves 

Although the economic situation is generally good, the automotive industry has not gathered the expected momentum so that our synchronizer-ring business is restrained. Growth in China has slowed down. Brazil's economy stagnates. The A350 run-up curve is also less steep. Controls, however, continues its gratifying growth. The extremely low interest rates necessitate a distinctly higher addition to the pension reserves. They do not strain liquidity but the income, with approx. € 60 million in 2015 alone. When interest rates rise again in the future, the forced set-up of hidden reserves will have an opposite effect – reversal of reserves will then produce income. 

Sale of Diehl Land Systems to KMW completed 

As reported, Diehl Defence and Krauss Maffei Wegmann, at the end of last year, signed a contract on transfer of the operating business of Diehl Defence Land Systems GmbH to a subsidiary of KMW. The cartel authorities have meanwhile approved the deal so the business was transferred some weeks ago.



Diehl Stiftung & Co. KG © 2019