Kuka Group (KUKAY.PK,KUKAF.PK), a manufacturer of robotics and automation solutions, reported Wednesday that its fiscal 2016 earnings before interest and taxes or EBIT declined 6.2 percent to 127.2 million euros from 135.6 million euros last year.
EBIT before purchase price allocation and before extraordinary costs was 166.0 million euros, down from 194.3 million euros last year. Adjusted EBIT margin stood at 5.6%, down from 6.6% a year ago.
Preliminary sales revenues reached 2.949 billion euros, compared to previous year's 2.966 billion.
The volume of orders received totaled 3.42 billion euros, a 20.6% increase on the previous year's 2.84 billion euros.
KUKA said it continued to profit from the strong global demand for robots and automation solutions. All three divisions - Robotics, Systems and Swisslog - contributed to this positive business development.
The order backlog totaled 2.048.9 billion euros at end of year,, an increase of 25%, ensuring a high level of capacity utilization in 2017.
by RTT Staff Writer
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