Miller Magazine Issue 110 / February 2019

40 NEWS MILLER / FEBRUARY 2019 Bühler strengthens its strategic position and continues to grow “We are satisfied with the 2018 overall results. Volumes developed well, but profits were below our objectives. Despite risks such as trade conflicts, we are well positioned with our portfolio and our global organization, and look to the future with confidence,” says Bühler CEO Stefan Scheiber. The 2018 business year was characterized by continued organic growth in all businesses with a gain in market share, increased order intake, and higher turnover. Turnover grew for Grains & Food by 9.2% to CHF 2.2 billion, for Advanced Materials by 5.6% to CHF 705 mil- lion, and Haas contributed CHF 373 million. As a result of the Group’s combined organic and acquisitional growth, Bühler increased its order intake by 17% to CHF 3.3 billion and its tur- nover by 22% to CHF 3.3 billion, which resulted in an order backlog of CHF 1.9 billion (+5.9%). Regionally, Europe (+28%) and Asia (+40%) were the markets showing the stron- gest turnover growth. FINANCIAL POSITION REMAINS STRONG EBIT increased in absolute terms by 13% to CHF 231 million, which represents an EBIT margin of 7.1% (previous year: 7.6%). Profitability was impacted by necessary adjustments at our Changzhou, China site. After years of over-proportional growth in China, this move ensures its alignment with Bühler’s global standards and systems and sets the foun- dation for further expansion. Without this one time effe- ct, EBIT margin would have reached 8%. With a slightly improved tax rate of 20.1% (previous year: 20.2%) and a financial result of CHF 4.6 million (previous year: CHF 13 million), net profit grew by 9% and reached CHF 188 million (previous year CHF 173 million). Operating cash flow increased by 28% to CHF 202 mil- lion. Net liquidity remained at a high level of CHF 445 million (+1.1%, excluding corporate bond of 420 million in previous year) despite high investments. The equity ratio dec- reased slightly to 42.2% (previous year: 44.5%), mainly due to effects from the Haas acquisition. NEW STRATEGIC PILLAR CONSUMER FOODS Following the successful integrati- on of Haas in 2018, Bühler decided to The Bühler Group continued its positive development in 2018. All businesses achieved organic growth. Haas was successfully integrated into the Bühler Group in 2018 and contributed to Büh- ler’s success. Group turnover increased by 22% to CHF 3.3 billion. The Bühler Group has further strengthened its strategic position by establishing a third business pillar, Consumer Foods.