Several export-oriented companies in Germany have not look recently so optimistic in the future. Now the robot manufacturer Kuka to moved. The reasons are many and varied.
The trade dispute between the United States and China dampens the prospects of more and more German companies. In the past few weeks, it rained profit and sales warnings. Especially under the pressure of export-oriented industries such as mechanical engineering and the automotive industry. In addition, individual industries have specific problems.
The most recent prominent example, the robot manufacturer Kuka. The Augsburg-based group warned on Monday that the previously announced sales and profit objectives this year were to achieve more. Kuka said its more pessimistic assessment of the uncertainties of the Chinese automation market, the economic slowdown in the auto industry.
For the year as a whole expected to the Chinese Midea group company at the end of a turnover in the amount of approximately EUR 3.3 billion and an adjusted Ebit margin of around 4.5 per cent. Previously, Kuka is aiming for yet revenue of more than 3.5 billion Euro, of which 5.5 per cent, as adjusted operating earnings (Ebit) should remain.
Series of warnings
Kuka thus follows a series of warnings from the manufacturing sector – the centre of the German economy. In the past week, the cable specialist Leoni had cut its profit targets. On the same day, the news from Hanover was that even the tyre manufacturer Continental is more pessimistic for the year. The connection technology specialist, Norma and lubricants manufacturer Fuchs Petrolub back rowed.
The trade disputes between the United States and China press already, the growth of the Chinese economy. This is the global financial crisis is no longer grown recently as slowly as since the outbreak. And that could be a Problem for the world economy. The car industry in Particular is already the impact of the weakening of the Chinese auto market. Higher duties unsettle the car buyer.
China in the car industry, the clock
Problems with exhaust gas values are a burden on the car industry
Added to this is the discussion of exhaust emissions and diesel driving bans in many German cities. Only with difficulty, the industry is struggling in Europe due to the stage of changeover to the new exhaust and smoke standstard WLTP. The carmaker Daimler has in the meantime lowered already twice its forecasts, BMW will miss the beginning of the year compound rate of return objective, according to their own information. Volkswagen can achieve the targeted profit objective is likely to be just excluding special items.
Meanwhile, the problems spill over from the car industry to other industries. The chemical company BASF got, for example, is felt in the third quarter. Group chief Executive Martin brudermüller, warned last Friday with a view to the faltering economy in China is facing increasing challenges in the macroeconomic environment. BASF has to do with the Acquisition of some of the Bayer-shops and the merger of the Oil and gas subsidiary Wintershall with the former RWE – division, Dea is currently already their hands full.
Other industry groans
Other companies that have to deal with their own construction sites, barriers of trade and the slowdown in the economy caught prospects now on the wrong foot. The machine manufacturer Gea about struggling for years with a struggling business in the dairy industry. As group CEO Jürg Oleas whipped out at the beginning of October, the Red card and reduced the margin forecast. On Monday, the Manager turned to the presentation of the final Figures for the third quarter of a difficult year-end in view.
In the stock market some other problem sectors advanced this year already in its sights: The German retail sector about groaning in the summer, suffered from the reluctance of customers, corporations in the tag, such as Gerry Weber and Tom Tailor. Also, Metro and Ceconomy completed the first year of independence with less and less revenue. Also, the medical group Fresenius was most recently the less confident, because it ran in the dialysis subsidiary Fresenius Medical Care, and in the German hospital business in the third quarter, a surprisingly worse than expected.
ul/iw (dpa)