Optimistic machine builders
October 16, 2014
A study released by Germany's second-largest lender, Commerzbank, said Thursday the country's machine-building sector was bound to rebound tangibly in 2015 after this year's stagnation.
"Previously delayed investments will most likely be made now, given a pickup in trust in cyclical developments," said Commerzbank executive Markus Beumer during a presentation of the survey in Frankfurt.
He noted that Germany's European sales market had some catching up to do in the modernization of its infrastructure, adding that demand was also likely to rise in emerging nations. Beumer therefore expected the German machine-building industry to expand by 3 percent in 2015.
Mixed outlook
Southern German machine builder Trumpf already posted strong profits in its last fiscal year ending in June. Pre-tax earnings jumped by more than 60 percent to total 248 million euros ($315.7 million), the company announced Thursday.
Trumpf put its turnover at 2.6 billion euros, marking a 10-percent surge year-on-year and reflecting recent profitability-enhancing programs.
The company warned, though, that its turnover might rise by just 1 percent this year in the face of geopolitical tensions and military conflicts.
hg/cjc (AFP, Reuters, dpa)