Bucher Hydraulics, a division of Bucher Industries, is acquiring the mobile electric drive technology business of Lenze Schmidhauser in Romanshorn. Bucher is thus focusing more strongly on the trend towards electric mobility.
Bucher Municipal, a division of Bucher Industries AG, seeks to exploit economies of scale within Johnston Sweepers in the UK by looking at combining the three UK manufacturing sites operated by the company into a single site in Dorking, Surrey. The envisaged investment amounts to GBP 11 million in infrastructure and new production technologies.
Bucher Industries increased sales by 28% to CHF 686 million in the first three months of 2012. Companies acquired in 2011 contributed 8% to this good performance. The high level of the order book at the turn of the year was an important factor in achieving this strong growth. The order intake of CHF 586 million was 9% lower year on year.
The shareholders attending today's annual general meeting of Bucher Industries AG approved all the board of directors' proposals. In addition to the regular agenda items, the shareholders approved the re-election of Claude Cornaz and Heinrich Spoerry to the board, as well as a capital reduction through cancellation of 2.99% of the shares.
In the 2011 financial year, Bucher Industries was able to further increase earning power, despite the strength of the Swiss franc. With strong demand and capacity utilisation at a high level, Bucher Industries increased operating profit by 26% to CHF 190 million. The operating profit margin rose from 7.4% to 8.1%. Profit for the year was CHF 127 million, 30% higher than the previous year. The board of directors is proposing a dividend of CHF 4.00 per share to the annual general meeting of 12 April 2012.
Bucher Industries achieved a substantial increase in sales and order intake in the 2011 financial year, despite significant negative currency effects. Sales growth was 27% in local currencies, and the Group started 2012 with the order book at a high level. For 2011, the Group expects a percentage increase in both operating profit and profit for the year on a par with the first half of the year.