Schmitz Cargobull AG has continued its growth in a poor market environment with an increase in sales of 7.9% to 794 million euros ($950 million) during the business year 2002/2003.
Schmitz now claims an 18.4% market share in Europe. It is the market leader of the four largest European trailer and body manufacturers.
Through stronger market penetration and the expansion of its European sales organization, Schmitz Cargobull has sold significantly more vehicles than in the previous year, particularly in central Europe, Germany, and Scandinavia. The growth in turnover reached 7.9% after 12.5% in the previous year. In addition to the market pressures due to competition, the increase in materials costs also has had an effect on the profit situation.
The profit margin before tax on income and payments to third parties sank from 6.2% to 5.6%. At 44.4 million euros ($53 million), earnings were just under the previous year. On the other hand, the company's annual surplus, at 24.8 million euros ($29.5 million) was just above the previous year. The order book has developed positively with a rise of about 8.4% to 153.3 million euros ($183 million).
Over the year the nine production plants (five in Germany, two in Great Britain, and one each in Spain and Lithuania) manufactured 23,000 trailers. This is about 2,000 units more than in the previous year. Of these vehicles, 12,000 were tilt (fitted tarp) and curtainsider trailers, 7,100 insulated trailers, and 3,900 of other vehicle types.
Based on the turnover share of Schmitz Cargobull AG, the product mix shifted slightly over the year from tilt and curtainsider semitrailers towards insulated semitrailers, with 313.7 million euros (39.5%) and 329.6 million euros (41.5%), respectively. Germany remains the main outlet market with 286.8 million euros (36.1%).
The number of employees increased over the year by four percent from 2,652 to 2,755. At 47.6 million euros, investment was about at the level of the previous year (48 million euros).
The dealer in Portugal has been annexed into the company, and subsidiary companies have been founded in Croatia and Italy. The Cargobull Trailer Center network now encompasses more than 30 countries. Many services are available in these customer centers, including the sale of new vehicles, their financing, spares acquisition, and used vehicle sales. In addition, authorized service workshop personnel are trained in these centers. Schmitz Cargobull AG, Bahnhofstrasse 22, D-48612 Horstmar, Germany.