1. Brief Portrait of Demag Cranes AG
2. History (Milestones)
3. Management Board
5. Facts and Figures on the Company
6. Press Contact
7. Cautionary Note regarding Forward-looking Statements Statements
8. Legal Notice
Demag Cranes is one of the world’s leading providers of industrial cranes, crane components, harbour cranes and port automation technology. Services, in particular maintenance and refurbishment services, are another key element of its business activities. The activities of Demag Cranes are divided up into three segments: Industrial Cranes, Port Technology and Services.
In Demag and Gottwald, the Group has strong brands and believes that it is a global market leader by virtue of its innovation and technology leadership, its excellent product and service quality and its close and long-term customer relationships. Demag Cranes manufactures in 16 countries on five continents and through subsidiaries, agencies and a joint venture operates one of the most comprehensive worldwide sales and service networks in the industry. The Group is represented in more than 60 countries and reaches customers in more than 100 countries.
The core expertise of Demag Cranes is in the development of technologically advanced cranes and hoists as well as automated transport and logistic systems in ports, the manufacture of high-quality components, and the provision of services for the entire product range. Cranes and hoists by Demag Cranes are distinguished by their high quality in terms of safety, reliability, longevity and precision while offering low cost maintenance over their entire service life.
With more than 1,000 patents and above-average high investments in research and development, Demag Cranes focuses on innovation and technology leadership. Development and production are always carried out on a modularised and standardised basis. Through close cooperation with crane-manufacturing partners in the Industrial Cranes segment, the Group also achieves broad geographical coverage in less industrialised regions and a high level of operating flexibility.
Demag Cranes pursues a consistent growth strategy to attain sustained profitable growth. The success of this strategy has been achieved principally through significant internationalisation of its business, the successful development and market introduction of new, innovative products, ranges and series and the implementation of extensive programs to increase efficiency. The Company’s leading market position is to be further expanded by means of innovation and continuous structural improvements in the coming years.
In financial year 2010/2011, the Group generated total revenue of EUR 1,062.3 million and operative earnings before interest and tax (EBIT) of EUR 75.7 million with some 6,115 employees (as at 30 September 2011). From 01.10.10 to 30.09.11, 19.3 per cent of revenue was generated in Germany, 27.5 per cent in Europe excluding Germany and Russia, 15.0 per cent in North, Central and South America, 15.3 per cent in Asia, 17.4 per cent in the so-called BRIC countries and 5.4 per cent in other countries.
Demag Cranes has been manufacturing cranes and hoists for almost two centuries. The business operations of the current Group are the result of a combination of Demag Cranes & Components GmbH (Industrial Cranes and Services segment) and Gottwald Port Technology GmbH (Port Technology segment) under the control of Demag Cranes AG. Since June 2006, Demag Cranes AG has been trading on the Frankfurt Stock Exchange under the code D9C in the Prime Standard index. Since August 2011, the Terex Group in the United States has held a majority share in the company.
|Year||Demag Cranes AG|
Since August 2011, the Terex Group in the United States has held a majority share in the company
Integration of Demag Cranes Group through worldwide bundling of operative functions and centralising shared services
|2006||Consolidation of Demag Cranes & Components GmbH and Gottwald Port Technology GmbH under the umbrella of Demag Cranes AG and IPO and 23 June 2006.
Withdrawal of Demag Holding S.à.r.l..
|2002||Demag Cranes & Components GmbH and Gottwald Port Technology GmbH taken over by Demag Holding S.à r.l (Luxembourg), in which private equity investment funds advised by KKR hold an 81% interest and Siemens AG holds 19% interest.|
|2000||Mannesmann Dematic becomes an integral part of the Atecs Mannesmann AG Group; spin-off of Demag Cranes & Components GmbH (Wetter); Mannesmann taken over by Vodafone; Siemens AG and Robert Bosch GmbH acquire Atecs Mannesmann; the mechanical engineering division of Atecs Mannesmann AG, to which the current segments of Demag Cranes belonged, remains in the Siemens Group.|
|1997||Mannesmann Demag Fördertechnik AG is renamed Mannesmann Dematic AG.|
|1996||Mannesmann Demag Fördertechnik AG takes over the Mobile Cranes segment from Mannesmann Demag AG in Duisburg.|
|1992||Restructuring of the Mannesmann Demag Group and spin-off of Mannesmann Demag Fördertechnik AG in Wetter.|
|1988||Mannesmann takes over Leo Gottwald KG and integrates it in Mannesmann Demag AG.|
|1956||Leo Gottwald KG builds the first mobile harbor crane.|
|1910||Successor companies to Mechanische Werkstätten Harkort & Co. become part of Deutsche Maschinenfabrik AG (Demag).|
|1906||The present-day Gottwald Port Technology GmbH founded under the name of Maschinenfabrik Ernst Halbach AG in Dusseldorf.|
|1819||The present-day Demag Cranes & Components GmbH founded under the name Mechanische Werkstätten Harkort & Co. in Wetter an der Ruhr.|
Chief Executive Officer (CEO)
Aloysius Rauen (* in 1956 in Lengerich, Germany)
Degree in Mechanical Engineering
From 1983 Aloysius Rauen worked for MBB GmbH in Ottobrunn. In 1991 he was appointed director of the Tornado programme in MBB’s aeronautics section and in 1992 he became plant director at Daimler-Benz Aerospace Airbus GmbH. In 1995, Aloysius Rauen took over as president of the Military Aircraft Division of Daimler Chrysler Aerospace AG and, in 1997, became a member of the Management Team before being appointed head of Corporate Strategy at Daimler Chrysler AG in 2000.
At the end of 2000, he moved to EADS and, in 2003, became CEO of EADS Deutschland GmbH and, in 2004, CEO of Eurofighter Jagdflugzeug GmbH. In the same year, Aloysius Rauen was appointed a Member of the Supervisory Board of EADS Deutschland GmbH.
Since 1 May 2009, he has been CEO of Demag Cranes AG.
Member of the Management Board and Chief Financial Officer
Lawrence Lockwood (* 1952 in Milwaukee, USA )
Lawrence Lockwood began his professional career in banking in 1977 before changing to a financial position at Allen-Bradley, the automation specialist, which was acquired by Rockwell International in 1985. Until 1997, Lawrence Lockwood held a number of management positions at Allen-Bradley and in the Rockwell Group, including Vice President Finance.
In 1997 he moved to the Rockwell Automotive Group to be the Corporate Controller of the spin-off of that Group, Meritor Automotive Corporation. From 1998 to 2004, he headed the Financial Controlling and Finances department of OEM supplier Arvinmeritor, where he was responsible, after the merger of Meritor Automotive and Arvin Industries in 2001, for business integration activities in the Light Vehicle Systems division. In 2005 he worked for Bureau Veritas certification as Vice President and Division Controller. Finally, since 2006, Lawrence Lockwood has had responsibility for Finances and IT as Vice President Finance & Information Systems for the Aerial Work Platforms Segment of the Terex Corporation.
In May 2012, Lawrence Lockwood was appointed Member of the Management Board and CFO of Demag Cranes AG by the Supervisory Board of that Group.
Demag Cranes is a worldwide leading supplier of industrial cranes and provides solutions for material flow, logistics requirements and drive applications with a comprehensive range of products and services for industrial plants of all sizes. Above all, the Group currently serves the premium segment of the market with its products. The high demands of its customers for quality, reliability and performance are significant driving factors for the continuous development of its technology-leading products.
a. Industrial Cranes (46.1 per cent of total sales in financial year 2010/2011)
In its Industrial Cranes segment, the Group develops and manufactures high-quality components, such as rope hoists, chain hoists, travel units and motors, as well as complete cranes. A distinction is made between Standard Cranes and Process Cranes. Standard Cranes are configured from standardised modules for industrial infrastructure applications. Process Cranes, although also made from largely standardised modules, are integrated individually into the customer's specific production processes. Our highly versatile KBK crane construction kit is primarily used in industries with changing production requirements, such as the automotive industry. We are the world market leader in these crane systems. In the past financial year, Demag Cranes completed an important step as part of its mid-segment strategy focusing on the emerging markets with the launch of its DC-Bas chain hoist in China and India. Based on European standards, DC-Bas is designed to meet the exact needs of customers in these countries. The LC-Bas light crane system, the DR-Bas rope hoist, drive components, crane sets and complete cranes in various designs will subsequently be launched successively in the two largest Asian markets. As a second step, the Bas product family is also to be launched in Southeast Asia.
In financial year 2010/2011, the Industrial Cranes segment generated revenue of EUR 489.8 million, which corresponds to a share of 46.1 per cent of total sales.
b. Port Technology (22.5 per cent of total sales in financial year 2010/2011)
The Port Technology segment covers products and services for ports and terminals, which are sold under the Gottwald brand. The range extends from conventional cargo handling equipment such as Mobile Harbour Cranes to automated solutions for container transport and storage. In this segment, we also offer planning and consultancy services for terminal operators, software solutions as well as assembly and maintenance services. Our primary focus here is on solutions that enable our customers to optimise their material flow and logistics processes. According to our own market research, we occupy the leading position in mobile harbour cranes with an installed base of approximately 1,400 cranes. The Demag Cranes Group also ranks among the pioneers and leading international suppliers in the promising terminal automation sector. In this segment, Demag Cranes is one of the few suppliers able to develop and market integrated, end-to-end solutions including the associated software solution. With the acquisition of UK-based DB Controls in the past financial year, Demag Cranes successfully underpinned its strategy of expanding its bulk handling capabilities in the Port Technology segment. Thanks to the complementary service portfolio of DB Controls, Demag Cranes is expanding its range of software and consultancy services, previously geared to port and hinterland container terminals, to include the bulk materials handling. Customers gain full global service from a single source.
In financial year 2010/2011, the Port Technology segment generated revenue of EUR 239.0 million, which corresponds to a share of 22.5 per cent of total revenue.
c. Services (31.4 per cent of total sales in financial year 2010/2011)
In its Services segment, the Group offers a complete range of services for the optimum use, maintenance and refurbishment of cranes and lifting equipment. Alongside standard services such as spare parts supply, fault elimination, maintenance and repairs, this increasingly includes consultancy and training services to optimise the use of crane systems. Refurbishment and conversion work is carried out using both standard products and sophisticated tailored solutions. The range of service contracts extends from simple recurring inspections through preventive maintenance to full-service arrangements. They cover not just our own Industrial Crane products but also third-party products and related equipment. The use of the latest technical developments, such as remote servicing, allows us to offer our customers condition-based customised services.
In financial year 2010/2011, the Services segment generated revenue of EUR 333.5 million, which corresponds to a share of 31.4 per cent of total revenue.
Selected financials as at the end of financial year 2010/2011
In EUR million
|1.10.10-30.09.11||1.10.09-30.09.10||Change in %|
|Order intake||1,121.2||910.6||23.1 %|
|Order book as at end of period||361.7||306.6||18.0 %|
|Operating EBIT1||75.7||54.2||39.7 %|
|in % of revenues||7.1 %||5.8 %||1.3 % points|
|Operating Net income after tax2||46.8||30.5||53.4 %|
|Operating earnings per share (in EUR)2||2.21||1.44||53.4 %|
|Gearing in %||8.7 %||-2.8 %||11.5 % points|
|Order intake||514.8||412.2||24.9 %|
|Order book as at end of period||201.5||180.0||11.9 %|
|Operating EBIT1||10.8||4.8||20.5 %|
|in % of revenues||2.2 %||1.1 %||0.795282 points|
|Order intake||267.3||197.0||35.7 %|
|Order book as at end of period||105.6||76.9||37.2 %|
|Operating EBIT1||9.2||0.6||1,453.8 %|
|in % of revenues||3.8 %||0.3 %||3.5 % points|
|Order intake||339.1||301.5||12.4 %|
|Order book as at end of period||54.6||49.6||10.1 %|
|Operating EBIT1||66.2||58.3||13.5 %|
|in % of revenues||19.8 %||19.4 %||0.5 % points|
1 Adjusted to reflect the effects at operating adjustments.
2 Adjusted to reflect the effects at operating adjustments and tax effects.
Selected Company data
|Group||6,115 (as at 30 September 2011)|
|Demag Cranes AG head office||Düsseldorf
Production in 16 countries on five continents
via subsidiaries, agencies and a joint venture the Group operates one of the most extensive global distribution and service networks in the industry, with a presence in more than 60 countries reaching customers in over 100 countries.
|Chairman (CEO)||Aloysius Rauen|
|Member (CFO)||Lawrence Lockwood|
3 Employees as at the period, excluding temporary employees, apprentices and trainees
Selected information on the share
|Quantity of outstanding shares||21,172,993|
|Market segment||Prime Standard|
|Shareholder structure||Link to current shareholder structure|
Group matters, economic and financial media
Phone: +49 (0) 211 7102-1020
Fax: +49 (0) 211 7102-51020
Product and trade media
Industrial Cranes and Services business segments
Phone: +49 (0) 211 7102-3907
Fax: +49 (0) 211 7102-53907
Product and trade media
Port Technology business segment
Phone: +49 (0) 211 7102-3355
Fax: +49 (0) 211 7102-53355
This press release contains forward-looking statements relating to the business, financial performance and earnings of Demag Cranes AG and its subsidiaries and associates. Forward-looking statements are based on current plans, estimates, projections and expectations and are therefore subject to risks and uncertainties, most of which are difficult to estimate and which in general are beyond the control of Demag Cranes AG. Consequently, actual developments as well as actual earnings and performance may differ materially from those which explicitly or implicitly assumed in the forward-looking statements. Demag Cranes AG does not intend or accept any obligation to publish updates of these forward-looking statements.
Demag Cranes AG
Represented by the Management Board: Aloysius Rauen (Chairman of the Management Board),
Supervisory Board Chairman: Dr. Michael W. Ernestus
Registered office: Dusseldorf
HRB 54517 Local Court, Dusseldorf
Sales tax identification number: DE 814661567