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Russian conflict burdens German mechanical engineering sector

The Association of German Mechanical and Plant Engineers e.V. (VDMA) reduced its production forecast for the German mechanical and plant engineering sector from 3 percent down to 1 percent in July 2014. The Association considers the reason for this to be the slow global economy in addition to the Ukraine crisis and the conflict with Russia. Europe, with its share of 70 percent of all exports, is the most important market for German machinery. Overall, the sector had an export quota of 76.5 percent (2013).

Up to now the lack of growth impulses had hardly any effect on employment figures. In 2013, the sector reached a new record high with an increase of 15,000 jobs to 986,000 employees, meaning that it remains the highest-employing industry in Germany.

Important figures for selected mechanical engineering companies

Linde AG is Germany's second-largest mechanical engineering company in terms of revenue. Its core business is the manufacturer of process equipment and the manufacture of gases. In 2014, the number of employees increased by 2,100 to a total of 65,591. In the first quarter of 2015, the company achieved a revenue increase of 8.7 percent up to €4,398 billion. The operative group results improved by 9 percent to €1,010 billion due to currency effects. The operative cash flow increased by 24.6 percent to €740 million. Overall, these figures confirmed the group outlook for 2015.

Deutz AG is one of the largest manufacturers of diesel engines in Germany. In the first quarter of 2015, the company had to take a revenue decrease of 7.2 percent down to €342.7 billion. However, the group results at €8.3 million were higher than at the same time last year with €7.7 million. The number of employees reduced by 192 down to 3,850 employees.

Shareholder structure on 20 May 2015:

• 3.0 percent: Norges Bank
• 3.1 percent: Old Mutual PLC
• 25.0 percent: AB Volvo Group
• 68.9 percent: Streubesitz

In 2014, the GEA Group was the seventh-largest mechanical engineering company in Germany in terms of revenue. In the first quarter of 2015, the group recorded a revenue increase of 5.9 percent up to €1,006.4 million compared with the previous year. The operative group results increased by 15.3 percent to €98.2 million. This was achieved by a total of 18,161 employees, which corresponds to an increase in staff of 163.

Revenues for the most important German companies 2014

Sources: Statista (Premium Account)

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