Group Management Report
2020 was an exceptional year, marked by the coronavirus pandemic,
with very different business dynamics over the course of
the year. After a strong start to the year in terms of demand,
the focus from spring onwards was on coping with the pandemic
and the associated economic uncertainties. In the final quarter,
demand picked up again considerably. Thanks to our international
positioning and diversified product portfolio, we succeeded
in maintaining our supply and performance capabilities
and closed the fiscal year with only a moderate decline in sales.
A favorable materials cost ratio, stringent cost management, and
pandemic-related savings on travel and trade show costs,
among other things, compensated for the sales-related margin
decline, resulting in earnings above the previous year’s level as
well as higher EBITDA profitability. At the same time, we continued
to push forward our strategic research and development
projects, as well as digitalization, and through acquisitions we
set the course for further profitable growth.
Group Basics
Business Development
Innovation, Employees, Environment, and Safety
Declaration on Corporate Governance
Subsequent Events
Expected Developments
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