Page 6 - Annual report 2018 of the Böllhoff Group

BÖLLHOFF GROUP SETS

A COURSE FOR FUTURE

142 year of trading in 2018: Record investment
nd
GROWTH levels and another increase in annual turnover

Dear Colleagues,

Friends and Partners,

nd
In what is now our 142 year of business we are once again delighted to witness a healthy rate
of growth. With yet another sales record, 2018 is continuing the positive trend of the preceding
years. Across the group growth has increased by 5 percent to reach some 652 million euros. We
have managed to hold our own, above all in challenging markets such as China, Europe and the
USA, and have in some cases seen a double-digit increase in sales. We were also able to benefit
from the gentle tailwind behind the South American economy, boosting our sales. We can thus
now look back at the year 2018 with a feeling of gratitude.

At Böllhoff we take an optimistic view of the coming years

Following nine years of continuous growth in 2019 we are now seeing signs of a consolidation
phase for the first time. The reason for this is not so much the economic cycles of the Federal
Republic of Germany or Europe, but rather influencing factors involving geopolitics and European
policy – the developments between China and the USA and also those in Italy and United King-
dom. They are creating a high level of uncertainty and reluctance to invest in certain markets. The
global indexes of economic activity are consequently starting to slow down in relation to 2019.

Despite such imponderables, the Böllhoff Group remains optimistic as regards the years to come.
We have set our course for the future by making numerous investments in the company.

The steady growth of the previous years and the associated increases in volumes meant we have
had to struggle with bottlenecks throughout our value-added chain – from production capacities
to delivery logistics. In 2018 we faced up to these challenges with record investments of 65 million
euros. These sums are being channelled into the infrastructure of our buildings, machinery and IT.
Numerous projects are scheduled for completion in 2019 and 2020. We are delighted to give you
an insight into these investments with our annual report.

2