Horstmar, Germany: Schmitz Cargobull reports a trebling of manufacturing volumes with turnover doubling for the year ending March 2011.
Schmitz, Europe’s largest trailer manufacturer saw turnover increase from €666m to €1.27bn giving pre-tax profit of €34m. Output was 36,053 vehicle bodies and trailers.
The strongest regions for sales were Germany, Poland, France and Scandinavia. Russia also returned to growth with approximately 5,000 units sold after a severe slump the previous year.
Ulrich Schümer, chairman, Schmitz Cargobull, said: “Throughout a challenging trading period, we’ve remained focused on our customers’ needs and ensured a continued drive for innovation which enhances our product range and ensures consistent high quality.
Ulrich Schümer, chairman, Schmitz Cargobull
“Our medium-term strategy is to reach an annual production volume of 75,000 trailers and a turnover of €2.7bn 2016/2017. We are already confident that this year’s production will increase to more than 46,000 trailers,” Schümer said.
Schmitz Cargobull finances investment from cash flow and has liquid assets of €132m. It invested €10m last year and expects a further €44m investment in 2011/12.
Schmitz expects sales growth from China and has signed a letter of intent with the Donfeng Motor Company to establish a joint venture commercial vehicle trailer business.
Schmitz Cargobull AG includes: Cargobull Finance for leasing and lease purchasing; Cargobull Parts & Services for vehicle servicing and spare parts; Cargobull Service Partners for repairs and maintenance; Cargobull Telematics for trailer telematics and Cargobull Trailer Store for used trailers. Schmitz Cargobull refrigerated units are constructed using the company’s Ferroplast modular steel-skinned panels.
