Operating profit (EBITDA) rose to 141 (123) million euros compared to the previous year. Measured against sales, this corresponds to a margin of 11.5% (10.4%). The strategic investments Yadon and Aweba, which were consolidated for a full year for the first time, and the improved cost structures in Germany as a result of the production concept that has now been implemented made important contributions to the successful annual financial statements. With an equity ratio at a record level of 39 percent, Schuler has an excellent basis for further corporate development.

CEO Stefan Klebert explained at the annual accounts press conference in Göppingen: "The good annual financial statements for 2017 reflect the successful changes of recent years. Both the new production concept and the acquisitions of Yadon and Aweba made a positive contribution to the result. Both acquisitions are not only a financial success story, but have also opened up strategically important markets for Schuler in Germany and abroad."

Incoming orders with strong final quarter

Schuler's order intake developed unevenly in 2017. In China, in the industrial business and in tool solutions with Aweba at the center, the order situation improved by more than 20 percent in some cases. In contrast, the Automotive division recorded a noticeable decline. The reason for this was the decision by major car manufacturers to channel considerable funds into the expansion of electromobility and temporarily postpone investments in new production capacities. Schuler itself has not been negatively affected by the shift towards new drive technologies. The company also supplies press lines for body parts for electric vehicles as well as systems for electric sheet metal and battery production.

Group-wide, incoming orders fell slightly to EUR 1.14 (1.20) billion in 2017. A third of this sum was attributable to the strong final quarter of the year. The order backlog as at December 31 amounted to EUR 0.90 (1.01) billion. In the first few weeks of 2018, the order situation picked up from the final quarter of 2017 and continued to develop positively, particularly in the Automotive division. Overall, Schuler expects sales and earnings before special items to reach the previous year's levels in 2018.

Europe with highest share of sales

In the 2017 financial year, Europe accounted for the largest share of Group sales totaling a good EUR 1.23 billion at EUR 528 (524) million. China increased to 310 (290) million euros. Schuler's business in North America developed very positively with an increase in sales to EUR 328 (271) million. The number of employees across the Group fell slightly to 6,570 (6,617) as at December 31, 2017, of which 2,333 (2,284) were employed outside Germany. as