trumpf annual report 2014/15 · annual report 2014 /15 attentive > ... by josef darchinger of...

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TruDisk

TruLaser 5030 fiber

Business Activities

MACHINE TOOLS

LASER TECHNOLOGY/ELECTRONICS

LASERS FOR PRODUCTION TECHNOLOGY

Cutting, welding, marking and surface treatment: For every industrial application, we have the right laser and the right technology to manufacture products innovatively and cost-efficiently. Whether on a macro, micro or nano scale, we ad-dress our customers’ individual needs and accompany them with system solutions, application expertise, and consulting.

High technology would not be possible without a supply of processing power. Our generators provide our customers with electricity for induction heating, plasma and laser excitation, in the necessary form with regard to frequency and power.

MACHINE TOOLS FOR FLEXIBLE SHEET METAL AND TUBE PROCESSING

The largest area of activity at TRUMPF comprises various ma-chine tools for flexible sheet metal and tube processing. Our portfolio includes systems for bending, punching, combined punch and laser processing, laser cutting, and laser weld-ing applications. We offer our customers machines and au-tomation solutions tailored precisely to their requirements, together with consulting, financing and many more services enabling them to manufacture their products economically, reliably and in high quality. With our software solutions we support them in all sheet metal processing tasks, from design to complete production control.

2,839 EMPLOYEES

€2,361 millionSALES

€966 millionSALES

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7,245 EMPLOYEES

> Profile

TRUMPF GroupThe company

The high-technology company TRUMPF provides manufacturing solutions in the fields of machine tools, lasers and electronics. These are used in the manufacture ofthe most diverse products, from vehicles, building technologyand mobile devices to state-of-the-art power and data storage. Asan independent family business, we think and act long-term. Our drive to shape the future makes us a guarantor of continuous innovation.

TRUMPF

ANNUAL REPORT

2014 / 15

attentive

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* Equity capital plus non-current shareholder loans.

At a Glance

TRUMPF GroupFigures

2012/13 2013/14 2014/15 Changefrom

2013/14

Sales in € millions 2,343.4 2,586.8 2,717.0 5.0%

Overseas share in percent 74.5 75.0 79.1

Orders received in € millions 2,330.0 2,702.4 2,818.3 4.3%

Income before taxes in € millions 154.1 248.4 357.1 43.8%

Group net income/loss for the year in € millions 115.6 193.3 270.8 40.1%

Net operating margin before taxes in percent 6.6 9.6 13.1

Expenditure on fi xed assets in € millions 136.1 124.8 129.4 3.7%

Expenditure on research and development in € millions 211.0 243.3 265.1 8.9%

Balance sheet total in € millions 2,056.9 2,287.2 2,708.5 18.4%

Equity in € millions 945.2 1,065.4 1,383.8 29.9%

Equity ratio in percent 46.0 46.6 51.1

Economic equity* in € millions 1,142.4 1,327.0 1,642.1 23.7%

Economic equity ratio in percent 55.5 58.0 60.6

Employees on June 30 number 9,925 10,914 10,873 –0.4%

Personnel expenses in € millions 687.6 722.9 793.1 9.7%

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TruDisk

TruLaser 5030 fiber

Business Activities

MACHINE TOOLS







2,839 EMPLOYEES


€966 millionSALES

Figu

res/Bu

siness A

ctivities

7,245 EMPLOYEES

> >

TruDisk

TruLaser 5030 fiber

Business Activities

MACHINE TOOLS







2,839 EMPLOYEES


€966 millionSALES

Figu

res/Bu

siness A

ctivities

7,245 EMPLOYEES

> >

TruDisk

TruLaser 5030 fiber

Business Activities

MACHINE TOOLS







2,839 EMPLOYEES


€966 millionSALES

Figu

res/Bu

siness A

ctivities

7,245 EMPLOYEES

TRUMPF

ANNUAL REPORT

2014 / 15

attentive

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“attentive” – that’s the motto of this year’s annual report. Just like the cover picture taken by Josef Darchinger of children surrounded by conveyances large and small during

Germany’s “economic miracle” era, this may require some explanation for a company that is, after all, a machine tool and laser manufacturer.

Here, we want to express what motivates us – and what TRUMPF stands for. As a family fi rm, attentiveness has always been important to us when it comes to people, resources,

and the responsible conduct of business. This orientation toward long-term goals mayseem opposed to the rapid pace of world events, which in past months have been domi-

nated by headlines about Greece and the euro, global trouble spots, and the infl ux of refugees – as well as about the steady digitalization of all areas of life.

We believe in the technological shaping of the world, and in the fascination of the new.We believe that digital networking holds great opportunities for German industry, and

especially for innovative small and medium-sized enterprises. When it comes to new business models and the wishes of our customers, we want to be out in front. We anticipate how families and work requirements will change – like a seismograph, registering the techno-

logical and social changes that we are helping to positively shape.

That is our mission: to be attentive, both internally and externally. In the interests of our business partners, our employees, and society as a whole. The development over the past

fi scal year has clearly shown that we can be successful in this regard. We have grown in strategic future fi elds, established new companies – and, yet again, successfully increased

our sales and earnings.

I wish you a stimulating read!

EDITOR IAL

attentive

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DR. PHIL . NICOLA LEIBINGER-KAMMÜLLERPRESIDENT AND CHAIRWOMAN OF THE MANAGING BOARD

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thinking

acting

working

living

PART ONE

PART TWO

Discovering great new options

p.007

Valentina Wössner and the cubes

Pastures new

p.017

Stefan Stagel crosses America

Form and function

p.027

Gerda Schmider gets inspired

Processes for the future

One platform for all

Reinventing mobility

p.049

p.059p.039

Maximilian Fischer has the overview

Florian Weigmann creates solutions

Marc Kirchhoff helps with the laser

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workingAND

PART ONE

living

attentive

DITZ INGEN ( D )

Discovering great new options –ValentinaWössnerand the cubes.

Learning responsibility at TRUMPF

By radically removing the academic fustiness from its job application procedure, introducing a major interdisciplinary project, and adding connectivity to the work environment, TRUMPF is giving its trainees a taste of real life. And the employees of tomorrow are showing their gratitude with enormous motivation.

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It’s just 30 centimeters high, deep, and wide. It’s a mini-refrigerator for single households, a mobile water filtration system for drought regions, or even a medication dosing station for retirement homes. It’s been designed and manufactured by teams who have never devel-oped anything like it before. And that’s exactly why the “TRUMPF Tech Cube,” is a perfect symbol for a company that does some things radically differently from other firms in the industry. And one reason is the fact that TRUMPF takes a closer look at the changes happening inside and outside it, and that it reacts to them especially quickly, sensitively, and creatively.

TRUMPF is a company in the process of permanent transformation. The reason is as simple as it is com-pelling: Markets are not only changing constantly but also faster and more fundamentally than ever before. Technologies are being transformed, and customers and their needs are changing just as rap-idly as employees’ ideas about what life and work should involve. This is why a company that wants to remain successful within a changing environ-ment also has to change continuously. The special thing about TRUMPF is the consistent and attentive manner in which this takes place.

There are many good examples – such as the training and the worktime model, or the way in which the company’s sites are designed. What they all have in common is that they focus on the

A closer lookTEXT 1

attentiveTRUMPF Annual Report 2014/15

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Picture left: Valentina Wössner, 22 years old, is training as a mechanical engineer at TRUMPF as part of a dual study course.

Picture right: A key elementof the training course:

interdisciplinary project work.

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needs of the employees – however diverse those needs may be.

This also makes an attentive company like TRUMPF more interesting for potential employees and trainees, who today are taking a very close look at the various freedoms and deals offered by prospective future employers. And that brings us straight to the “TRUMPF Tech Cube,” the so-called TRUMPF training revolution, and, of course, Andreas Schneider.

Andreas Schneider is 61 years old, and de� nitely one of the ‘old hands’ at TRUMPF. Born in Stutt-gart, he joined TRUMPF as an apprentice machin-ist 46 years ago, then moved to the personnel department, and for the past 17 years has been in charge of training at the company. He now conducts around 300 interviews annually with potential trainees, 55 of whom currently receive a TRUMPF training contract – including the man-datory recruitment guarantee – each year. So you would assume that, as an experienced training manager, Andreas Schneider is a sound judge of character. Nevertheless, a situation a few years ago really got him thinking.

It was all because of a school-leaver whose appli-cation had been routinely rejected by the training department due to mediocre school grades. One employee at TRUMPF knew the young man, how-ever, and was convinced of his qualities – so he

A company as attentive as TRUMPF becomes more

interesting for today’s potential employees and

trainees, who are examining the freedoms and deals

offered by a future employer with increasing care.


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Picture left: Manual skills are important for an understanding of materials, products and processes, and they also enhance personal creativity.

Picture right: Welding in sheetmetal production was a lot

of fun for Valentina Wössner.

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advised Andreas Schneider to interview the appli-cant personally. Schneider did so, and realized that even though the candidate had indeed had significant problems in school, he also had exceptional practical skills, and he duly invited him to apply for a second time. The young man came second in the job-speci� c aptitude test. Today he is a group leader at TRUMPF in Ditzin-gen – and Andreas Schneider is the recruiter who began by thoroughly questioning the conven-tional selection and training procedure before turning it on its head.

“What are we actually doing when we select people on the basis of their grades? How many people with great potential have we rejected in the past, only because they had a bad time at school or a bad teacher they couldn’t cope with?” asks Schneider, self-critically. “It’s clear that by assessing people and their potential on the basis of school grades, we weren’t being attentive enough by far.”

And because of this, four years ago TRUMPF com-pletely revolutionized the application procedure for trainees and students from the Duale Hoch-schule Baden-Württemberg (DHBW). Prospective employees are now sifted out, not on the basis of their school grades, but by means of a standard-ized personality test aimed at establishing whether they would suit the company and its values. “The people we hire aren’t merely apprentices after all but TRUMPF employees with prior quali� cations, who then remain at our company for many years or even decades,” explains Schneider. “That’s why our application procedure is consistently geared toward the person involved.” This is followed in a second stage by a further test, with job-speci� c questions and also a personal interview.

The application procedureis consistently geared toward

the person involved.


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Picture right: Veterinarians, senior citizens, aid workers, and schoolkids are all grateful recipients and users

of the Tech Cubes.

Picture left: The TRUMPF Tech Cubes – the pride of the trainees, and a pioneering project for a whole new way of learning.Around four dozen cubes havebeen created so far.

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With this radical renunciation of school grades as a selection criterion, Schneider and his colleagues certainly raised a few eyebrows at Stuttgart’s Ministry of Culture. “It seems that some people felt provoked by this innovation,” smiles the training manager. “But if provocation leads to productive, new thinking, then it can’t be that bad after all.”

Schneider and his colleagues scrapped not only the grade screening procedure but also the con-ventional written application process, and in so doing removed a hurdle that may have deterred potential talent in the past. Schneider is well aware that the eight to ten euros per application � le, as well as the formulation of a sophisticated cover letter, can be quite an obstacle for many school leavers. The online personality test, � lled out at home, which now constitutes the manda-tory � rst stage of the selection process, means that all aspirants enjoy comparable opportunities, regardless of their parental home, � nances, and German-language skills.

The revolution in training at TRUMPF included not only this radical change in the application process but also a complete rethink of the train-ing itself. Schneider recalls that in his day, new apprentices were initially placed at the vise for two months with a file before having to undergo a strictly curricular training program. “Unfor-tunately, that put quite a few people off,” he remembers. Today, however, rather than being placed at the vise, apprentices at TRUMPF and also their trainers are assigned a rather unusual collective task. The instructions for it are roughly as follows:

If provocation leadsto productive, new

thinking, then it can’tbe that bad after all.

ANDREAS SCHNEIDERTRAINING MANAGER


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Picture right: At the training center for customers and employees, the

trainees learn more about the latest TRUMPF products.

Picture left: Education 4.0: The TRUMPF instructors are driven by the visions and requirements ofthe future world of work.

DITZ INGEN ( D )

NeueWegegehen –StefanStageldurchquertAmerika.

Träume erfüllen bei TRUMPF

Das „Bündnis für Arbeit“ hilft TRUMPF Mitarbeitern, neben der Arbeit auch andere persönliche Ziele zu verfolgen. Sie können bis zu 1.000 Stunden auf ein Zeitkonto einzahlen und später nutzen – für weite Reisen, Wallfahrten, Weiter-bildungen und ähnliche Wünsche.

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For a steel cube 1/3 of a cubic meter in size, develop meaningful technological content. Design this content with a social group or organization in mind, which is going to use it. Talk to your cus-tomers about what they really need. Do it all as one team, with nine further trainees and trainers. Your budget is 300 euros. You have three months to complete the task. Okay – go!

At � rst, Schneider reports, most of the appren-tices were rather puzzled by this task. Several trainers who were used to courses rather than teamwork also had to get accustomed to the new situation. After four to � ve days of brainstorm-ing at the latest, however, the Tech Cube team suddenly started getting excited. And after that, there was no looking back. “While in the past some apprentices could hardly wait to � nish their workday, today we have to gently steer them in the direction of home some evenings. Otherwise there’s a chance they could carry on working at their Cube all night as well.”

In this way, quite naturally, the apprentices in the TTC project practice skills that will bene� t them for the rest of their professional lives: working in teams with very different colleagues; thinking in terms of processes; aligning themselves with target groups and their differing needs; and, last but not least, developing a product while receiv-ing direct feedback from customers. All these skills are indispensable, and could never be taught in purely theoretical terms.

Schneider adds: “When I was an apprentice I learned, for example, how to turn a bolt on a lathe. Our trainees learn not only the manual skill but also how to properly document a bolt

Ultimately there areno demotivated people,

only unsuitableenvironmental conditions.


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DITZ INGEN ( D )

Pastures new –StefanStagelcrosses America.

Dreams come true at TRUMPF

The “Work Alliance” helps TRUMPF employees to ful� ll their other personal goals outside the work schedule. They can deposit up to 1,000 hours into a worktime account and then use them up later – for long journeys, pilgrimages, training courses, and similar.

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like that. They learn how to communicate it to the development team and also outside the company, and to coordinate with the people who will use it later on.” The trainers and their boss Andreas Schneider learn a great deal too, such as the realization that “ultimately there are no demotivated people, only unsuitable environ-mental conditions – and it’s our job to create the right ones.”

Magni� cent solutions were arrived at, almost as a byproduct, during each three-month-long Cube phase. Schneider estimates that out of roughly four dozen TTCs so far developed and built, only two or three failed to function. The others included a practical instrument case for veter-inarians, a tablet dosage device for retirement homes, and a water puri� er with an integrated solar panel which is soon to actually make the trip to an East African village. Clean water is in short supply there, and demand for suitable equipment is high.

Today’s level of enthusiasm for the training envi-ronment at TRUMPF can be clearly seen from the apprentice drop-out rate. Ever since the training revolution was implemented, it has totaled pre-cisely zero. “After two months at the latest, most of our students today are completely blue,” says Schneider, referring not to their state of mind but to the TRUMPF corporate color. “They iden-tify totally with their company. In the old days, unfortunately, things could sometimes be very different.”

One person who got to know TRUMPF in this way is Valentina Wössner. The 22-year-old from Hei-delberg has been in training at the company since 2012 as part of a dual study course in mechanical engineering. Naturally, she learned a lot, not least of all the fact that “things are a lot different from other companies where friends of mine are work-ing. With the Cube project, for instance, we were basically thrown in the deep end, and we had to think a huge amount about the product we were going to develop as well as its target group – and that was really exciting.”


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Picture left: Stefan Stagel runs the “Non-Production Material Purchasing” department at TRUMPF, and saves work hours for family vacations.

Picture right: The seven-weektrip across North America in their

mobile home was a dream cometrue for the Stagel family.

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Moreover, even during her training time, Wössner was repeatedly entrusted with tasks that cannot be found in any curriculum. One was at “Female Future Day,” for example, where she had to take care of young women who were looking around different industries before choosing their future careers. She accompanied and guided visitors to the TRUMPF production sites, too, and also visited the Fraunhofer Institute for Industrial Engineering IAO in Stuttgart: “The expert lectures there gave me insights into the latest research on the topic of Industry 4.0, which I’m personally very interested in. We students were also asked about how we envisioned the future world of work. That enabled us to contribute to the discussion.”

This vision is also what motivates training man-ager Schneider. “Our society is going to change a great deal over the coming years,” he says. “There’ll be more freedom, more diversity, and more consideration of people’s individual needs. And companies are, after all, a re� ection of soci-ety – so our company needs to go along with this change or, even better, anticipate it.”

But how do you recognize the signs of the times? How do you ensure that an organization retains its edge and is not paralyzed by cherished rou-tines? “Our heads are round so our thoughts can change direction,” said the artist Francis Picabia, and it is precisely this change in perspective that the company prescribes for itself and its employ-ees on a permanent basis.

Wherever I am in thefuture, I won’t takethe advantages forgranted anymore,and I’ll appreciate

them a lot more too.VALENTINA WÖSSNER

STUDENT OF MECHANICAL ENGINEERING


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Picture right: The kids brought home a few of their favorite things from their travels – some of them edible.

Picture left: Christian and Lorena love the States – and the long summer vacations they have together as a family.

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The employees’ numerous stays abroad and their work in other units of the company are exam-ples of this. During her training, for instance, Valentina Wössner spent two and a half months at the TRUMPF subsidiary TRUMPF Photonics Inc. in Cranbury, New Jersey.

“For me, working at a site abroad was one of the most important personal and professional expe-riences of my training time. Before my stay abroad in America, I couldn’t imagine how another country and a different mentality could affect the world of work to such an extent,” says Wössner. She really liked the openness and opti-mism of the Americans, and the change of per-spective also helped her to better assess life and work situations. “Germany and America both have certain advantages and disadvantages. Wherever I am in the future, I won’t take the advantages for granted anymore, and I’ll appre-ciate them a lot more too. And the disadvantages won’t be that important to me anymore,” she summarizes.

A further example of the way that TRUMPF gives its employees a regular change of perspective: During their training period, all trainees are pre-sented with the opportunity to spend a week at a center for the disabled. TRUMPF maintains numer-ous joint projects here. The offer is also open to “fully trained” employees, by the way, who work for some time with the needy, the vulnera-ble, disabled children or young offenders, as part of programs such as “Blickwechsel”(“New Per-spective”) or “Sichtwechsel” (“Change of View”). Here they take to heart that central insight of John le Carré: “The desk is a dangerous place from which to view the world.”

The change of perspective makes it easier to assess life

and work situations.


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Picture right: The Panamericana is a system of highways connecting Alaska with Tierra del Fuego – and there are countless sights to see along the way.

Picture left: The colorful vehicle was home to the Stagel family for seven weeks and – apart from one problem – transported them reliably for around 10,000 kilometers.

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Something that is also valid for all employees in Germany ist the so-called “Bündnis für Arbeit” or “Company Work Alliance” (BfA for short), which caused quite a sensation when it was introduced four years ago. At � rst glance, the BfA is the kind of � exible worktime model that many companies have in place today; on closer inspection, how-ever, it’s pretty unique. This is because the BfA enables employees to decide anew every two years whether to remain with their modi� ed worktime model, to return to their old one, or to select a completely different working pattern. In this way, the possibilities are as varied as life itself.

“Let’s be honest: Who can tell exactly what their life is going to be like in � ve or ten years’ time? Whether they might have to look after a relative, or continue their education outside work, or maybe have to work really hard because they have a house to pay off?” asks Elisabeth Haller. The 37-year-old human resources expert from TRUMPF in Ditzingen is herself a living example of changing life situations and needs. It all started when she wanted to be able to spend a certain amount of time off work with her child, even after completion of her maternity leave. Two days before the leave was due to start, the company offered her a managerial post – and for her, this was a clear and valuable signal that TRUMPF is in favor of part-time work even for those in man-agement positions. “Otherwise, the message most women get is ‘If you’re leaving, then please leave entirely,’” Haller says. “With our company, there’s a noticeable difference there.”

On her return from the maternity break, thanks to the BfA, the new head of recruitment was able

The demands that employees make on their

workplaces are changing.DR. NICOLA LEIBINGER-KAMMÜLLER

PRESIDENT AND CHAIRWOMAN OF THE MANAGING BOARD


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Picture left: Cowgirl Lorena keeps on remembering her fantastic vacation – and is looking forward to new ones.

Picture right: Experiencing thegreat outdoors and watching animals

were among their most memorabletravel experiences.

GRÜSCH ( C H )

Formandfunction –Gerda Schmider getsinspired.

Designing locations at TRUMPF

Since its employees spend a large part of their lives at work, TRUMPF wants to offer them a healthy, stimu-lating and communicative work environment. And respect for nature is all part of that – at Grüsch in Switzerland.

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to reduce her working hours by the 20 percent she wanted. Since then, Elisabeth Haller has had every Friday off, giving her valuable time for her now two-year-old son. When the two-year term of the model expires soon, she can decide once again whether she wants to stay with her reduced working hours or have her contract revert to its original state again automatically. This avoids the dreaded “part-time trap” Haller knows from other companies, where those who opt for a reduced number of working hours are written off as part-time employees from then on.

“The demands that employees make on their workplaces are changing,” says Dr. Nicola Leibin-ger-Kammüller, President of TRUMPF. “With our model, they can always decide how much they want to work in their lives, and when. I know of no other company that offers such � exible options.”

Indeed, the BfA at TRUMPF is regarded as so unique that it received the “Innovation Award of German Industry” immediately after it was implemented. Even Germany’s highest-circulation tabloid felt it was worth printing a portrait of the TRUMPF President, together with her statement that, at TRUMPF, “employees themselves decide how much they want to work, and how long they want to go on vacation.” Of course, that wasn’t the whole story. The fact is that the � exi-ble worktime regulation also features many other innovative components in addition to the weekly hours adjustment. Employees can, for instance, ‘deposit’ up to 1,000 hours in a personal ‘work-time account’ and use the credit later on for lengthier breaks from work or for temporary worktime reductions. Those who want to take longer periods off can work for up to two years for half their salary – and receive the other half as pay during their sabbatical. There is also the choice of working for different amounts of hours for the company pension scheme – an option that is now being used by three-quarters of TRUMPF’s German employees.

Every bit as varied as the BfA models are the personal projects for which employees take


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GRÜSCH ( C H )

Formandfunction –Gerda Schmider getsinspired.

Designing locations at TRUMPF

Since its employees spend a large part of their lives at work, TRUMPF wants to offer them a healthy, stimu-lating and communicative work environment. And respect for nature is all part of that – at Grüsch in Switzerland.

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advantage of the great degree of freedom provided by TRUMPF. One of Haller’s colleagues used her sabbatical to go on a pilgrimage along St James’ Way, while another is soon to begin a long-planned tour of Germany in a historical tugboat. Employees with school-age kids ‘raid’ their work-ing-hour accounts so they can be available for them during the six-week summer vacation. Oth-ers temporarily reduce their working hours so they can look after a relative, or study for a master’s degree parallel to their job. All of these employees share an appreciation for the care shown by the company toward their changing needs.

“In job interviews, too, we sense a growing need for individual life and worktime models – across all ages and professions,” says human resources manager Haller. “Life-phase-oriented work today is no longer a Generation Z phenom-enon. It is frequently a criterion when choosing an employer.”

Ultimately, the Work Alliance is supported by a simple realization. In an era where the only per-manence lies in constant change, the bene� cia-ries are those who recognize that change. They know how to interpret it, and to make use of it for themselves. And that is what TRUMPF does, with far-reaching consistency.

In this way, the company retains its employees’ expertise and loyalty even when their life cir-cumstances change, while retaining the capacity to react � exibly to economic � uctuations and other changes.

Employees reduce theirworktime temporarily

so they can takemaster’s degrees parallelto their job, or assumefamily responsibilities.


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Picture right: The TRUMPF buildings, with their wood, glass, exposed

concrete, and warm colors, blend well into the surrounding landscape.

Picture left: Gerda Schmider works in TRUMPF Power Tools marketing, and loves Grüsch as a location.

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In this way, attentiveness leads almost inevitably to more sustainable, longer-term action – a prin-ciple that is almost second nature to TRUMPF, as a family � rm. The principle is conveyed not least of all by the company’s architecture. Since the employees spend a large part of their lives at work, the company feels duty-bound to provide a healthy, inspiring and communicative working environment. This is why architecture is an inte-gral part of the corporate culture at TRUMPF.

Many of the designs for the new buildings are by Barkow Leibinger Architects, the award-winning of� ce of Regine Leibinger, sister of the TRUMPF President. One example is the company restau-rant at the TRUMPF factory in Ditzingen. In func-tional terms, it is a canteen seating 700 people that is centrally located on the premises – so not all that special, one would assume. The company restaurant is, however, a truly exceptional piece of architecture, with a roof made of pentagonal wooden honeycombs, supported by tree-trunk-like steel supports. The guests in the restaurant, which is located in a dip, look out through the windows at a slope covered with grasses and � owers – it’s like having lunch in the middle of the countryside. Architecture critic Falk Jaeger is highly enthusiastic about the building, which measures 60 by 40 meters: “The room has some-thing musical about it.” It won an award as best new construction of the year from the German Architecture Museum in 2009.

In the planning of its large production sites – whether Farmington in the US, Taicang in China or Hettingen in the Swabian Alb – TRUMPF is similarly sensitive where this integration of sur-roundings is concerned. For the TRUMPF plant in Hettingen, which lies on the edge of a residential

Architecture is an integral part of the corporate culture

at TRUMPF.


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Picture right: The natural surroundings make the work atmosphere for the

employees in Grüsch very special.

Picture left: TRUMPF is an important employer in Switzerland’s Prättigau valley.

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area, a special long-term master plan was devel-oped, providing for a cautious expansion of the site that would take the local countryside and the neigh-borhood into consideration. The � rst construction phase – a 3,400 square meter large production hall – was completed in 2013, and preparations are now under way for phase two. An important aspect is the environmental sustainability of the structure – after all, buildings consume nearly 40 percent of the total energy used in Germany.

In Switzerland, the numbers are no different, which is why a production building like that of TRUMPF Laser Marking Systems AG in Grüsch can certainly be regarded as a pioneering achieve-ment. Around four years ago, global demand for marking lasers necessitated expansion of the existing production capacity, dating from 2004. Grüsch is located in the Prättigau region of Swit-zerland, amid beautiful and highly picturesque mountain scenery. The new building, of� cially opened in 2013, is similarly impressive, with glass facades facing its surroundings. Construc-tion made use of glass as well as gravel, lime, and the renewable raw material wood. Most impor-tantly, since 2013 the Grüsch site has also utilized a natural thermal resource available in almost unlimited quantities: groundwater.

Parallel to construction of the new production building, the somewhat outdated heating system of the site had to be renewed. Jürg Zimmermann, responsible for building maintenance in Grüsch, had already completely planned the new facility, and all that was missing was the manager’s signa-ture so that the job could be sent to the heating engineer. But his boss Achim Ott, then still quite

The Grüsch siteutilizes a natural thermal

resource availablein almost unlimited

quantities: groundwater.


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Picture right: The ventilationsystem is also ultra-modern

and energy-efficient.

Picture left: Being so close to nature creates a sense of responsibility: a new energy concept at the Grüsch site relies on groundwater for heating and cooling.

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new in his position as managing director of TRUMPF Grüsch AG, suggested they � nd a better, more envi-ronmentally-friendly solution. After a night of mull-ing over this surprise suggestion, Zimmermann decided to take up the challenge: What they needed was an entirely new and truly pioneering concept.

Today, the new production hall is fully air-con-ditioned in the summertime by the 10-degrees-warm groundwater. During this cooling of the interior and of the technical equipment, the water absorbs heat which, in summer, is transferred back into the ground. Then, in wintertime, it is utilized by the heat pump as an energy source – along with the waste heat from the air compres-sors. In the other buildings, a heating grid was built on Zimmermann’s initiative that made it possible to dispense with a further, large heating system. So today, the older buildings as well as the new construction are participating ef� ciently in the overall energy concept.

The solution has not only saved on considerable amounts of fossil fuels and therefore CO2 emis-sions, but also roughly 270,000 Swiss francs of investment capital. Projects like Grüsch, or the numerous award-winning buildings at the Ditzin-gen site, represent an architectural principle that sees buildings as far more than mere shells.

Indeed, a closer look at the buildings reveals that they have much in common with the TRUMPF Tech Cube. Although only 30×30×30 centi -meters in size, the TTC ultimately represents almost limitless creative potential for people who react with great attentiveness to everything that takes place in and around them. In so doing, they provide the ideal conditions for TRUMPF to retain its lead role – today, and in the future.

The challenge was tocreate an entirely new and truly pioneering concept.


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Picture right: In marking laserproduction, manual precision is

required in the clean room area.

Picture left: TRUMPF’s best-selling 2D laser machines are manufactured in Grüsch.

actingAND

PART TWO

thinking

attentive

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AACHEN ( D )

Reinventing mobility –Marc Kirchhoff helps with the laser.

Enabling effi ciency at TRUMPF

The StreetScooter is an electric vehicle with a difference. It’s cheap, it delivers mail – and it’s the � rst example of a new bodywork construction method. Flat sheet metal parts are slotted together and then spot welded. This saves an enormous amount of material.

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“Symbiosis” is what biologists call the phenom-enon whereby species cooperate with each other in a remarkable and highly advantageous manner. Clownfish and anemones live in sym-biosis. Ants and aphids do, too, with one spe-cies ‘purchasing’ its protection from the other with honeydew. Many species of tree and fun-gus form functioning communities, in which one benefits from the strengths of the other.

Symbiosis (from the Greek syn, “together,” and bios, “life”) is at � rst glance a purely biological phenomenon, but it also quite aptly describes the relationship between TRUMPF and its partners. Like any business, TRUMPF lives from the trust and loyalty of its customers and suppliers, and in turn helps them to retain their edge over today’s and tomorrow’s competition in all kinds of ways. The numerous examples of this mutual added value include the e-mobile “StreetScooter,” which is playing a pioneering role not only in terms of energy ef� ciency but also vehicle design.

The “StreetScooter” project began three years ago when TRUMPF received a request from a university. Professor Achim Kampker, who holds the Chair of Production Engineering of E-Mobility Compo-nents at RWTH Aachen University, was looking for industrial partners for a research project by his department. The plan was to design and build a new electric vehicle, with the special requirement that it should not only be suitable for everyday use

Lookingfar ahead

TEXT 2


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Picture right: It all starts with the drawing: The first draft by the TRUMPF

engineers led to the success story of the new car body assembly method.

Picture left: As Industry Manager Automotive at TRUMPF, Marc Kirchhoff is full of ideas for the use of lasers in automotive construction.

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but also cost-effective – and hence far more com-petitive than the standard e-mobiles available on the market at the time. “Industry experts didn’t give the project much of a chance back then,” recalls Klaus Löf� er, Managing Director Sales and Ser-vices in the Laser Technology/Electronics division. “Nobody was prepared to believe that a university project could succeed in building a competitive car. But at TRUMPF, we were immediately interested.”

This is because the TRUMPF laser developers pos-sessed an innovative manufacturing technology which they were convinced would signi� cantly increase resource ef� ciency in car body produc-tion. To create car bodies, deep-drawn metal sheets are superimposed and then welded together – a procedure requiring overlap joints with 7 to 15 mm � ange width. The TRUMPF laser develop-ers had a completely different design principle in mind, however: all it required was � at sheet metal parts, cut to shape on standard laser machines. These could then be assembled using interlocks to form a three-dimensional car body. To make the construction stable, the interlocks are welded using the laser. This new principle is extremely � exible, because the size of the car body can easily be varied: The laser only needs to cut the parts slightly larger or smaller. The procedure also saves an enormous amount of material – elaborate welding � xtures are no longer needed because the parts remain connected all by themselves. And most importantly, the overlapping � anges are no longer required. This results in savings of several millimeters of sheet metal per welding edge – and when it comes to series production, that adds up to several hundred tons of steel.

TRUMPF gives its customers advantages like these continuously and in many ways, not least of all through smart use of the laser beam. After all, the laser tool applies the energy required for sep-arating or joining processes more precisely and rapidly than other methods, and laser welding is a particularly good example here. “If you analyze the usual welding technologies in terms of their lifecycle aspects, laser welding represents the highest resource efficiency and the lowest


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Picture right: The welding is done bya TRUMPF Laser with a special optic; it

needs no filler material at all.

Picture left: In a robot cell, the sheet metal parts for the Street-Scooter are slotted together and then welded at their contact points.

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Picture right: The welding is done bya TRUMPF Laser with a special optic; it

needs no filler material at all.

Picture left: In a robot cell, the sheet metal parts for the Street-Scooter are slotted together and then welded at their contact points.

045

environmental impact,” explains Professor Michael Rethmeier, head of the “Welding Tech-nology Production Methods” department at Ger-many’s Federal Institute for Materials Research and Testing (BAM).

Klaus Löf� er goes on to mention further argu-ments in favor of the laser: “In the automotive industry, our customers’ products sometimes travel at speeds of up to 250 km/h – okay, that’s pretty remarkable. But with our lasers we work at the speed of light, with high power and pre-cise focus points. Our product can be accurately controlled and regulated – so, all in all, it’s pleas-ingly ef� cient.”

The lightweight concept of the StreetScooter combines the advantages of laser welding with those of a new production idea. TRUMPF has been utilizing similar concepts successfully for many years in the machine tool sector. The problem was that for the automotive industry, the process was so unconventional that no-one really believed it would work.

All of that changed rapidly when the � rst Street-Scooter rolled off the production line: the � rst prototypes of the university’s electric vehicle seri-ously impressed potential buyers in terms of both cost and practicality. The customers include Deut-sche Post AG, which at the end of 2014 fully acquired the new startup StreetScooter GmbH, and expanded production. The StreetScooter is now being produced in a former rail vehicle fac-tory in Aachen, using TRUMPF bending and cutting

With our lasers wework at the speed of light,

with high power andprecise focus points.

KLAUS LÖFFLERMANAGING DIRECTOR SALES AND SERVICES IN

THE LASER TECHNOLOGY/ELECTRONICS DIVISION


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Picture right: The batteries of the electric vehicle and the yellow plastic

superstructure with the post horn symbol have now both been mounted

on the underbody.

Picture left: At the demo factoryof the RWTH in Aachen, Marc Kirchhoff assesses the quality ofthe weld seams on the underbody.

047

systems. Once the experts from Deutsche Post AG have tested the StreetScooter in � eld trials in Bonn, the plan is to build 20,000 of them and integrate them into the company’s � eet. Thanks to the highly successful � agship model, this innovative TRUMPF technology is currently being presented to heads of production and developers from major automotive manufacturers.

“Economically speaking, joint ventures between researchers and universities may look like subsi-dized undertakings at � rst,” says Marc Kirchhoff, Industry Manager Automotive at TRUMPF, “but they bring us into contact with new ideas and creative minds. Our customers gain direct bene� ts from that. The StreetScooter project, for instance, has helped us and our customers to completely rethink the design of the automobile.” TRUMPF promotes similarly striking developments across all kinds of industries, whatever the technolog-ical challenges involved. For instance, together with customers, the TRUMPF developers organize the so-called “Technology Days,” when specialists from several companies openly exchange their ideas, research approaches and experiences. Their most important tool: a few sheets of white paper. Their working basis: mutual trust. Their working model: a temporary symbiosis.

This process of thinking things over together in new ways is tremendously valuable, and for many companies and entrepreneurs it actually holds the key to long-term survival. “After all, numerous businesses fail because they do one thing really well

The StreetScooter project has helped us and our customers

to completely rethink the design of the automobile.

MARC KIRCHHOFFINDUSTRY MANAGER AUTOMOTIVE


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Picture right: The mountedbox tops provide enough space

for packages and parcels.

Picture left: The StreetScooter production line in Aachen is designed for mass production.

PE ISSENBERG ( D )

Processes for thefuture –Maximilian Fischer has the overview.

Experiencing connectivity at TRUMPF

Processes in manufacturing plants are becoming increasingly complex. Apps, tablets, cameras and extensive software support are providing more clarity and faster response times. At Agfa HealthCare, for instance, where ‘Industry 4.0’ is making good progress.

049

and don’t think about the next thing,” says Eric Schmidt, Executive Chairman of the search engine giant Google – an enterprise which, in addition to optimizing its algorithms, also works on driverless cars, Internet balloons, and numerous other future technologies. For Google, these sectors are poten-tial business units of the future, even if today they sound as far-fetched as a search-engine algorithm may have done for some people back in the 1990s.

While Google can afford its own innovation department and research projects, a lot of TRUMPF customers – SMEs and smaller suppliers – natu-rally lack the time and money required for such lighthouse projects, despite the fact that their business model and their competitiveness make such projects an urgent necessity. To realize this, you only need to take one look at Eberhard Wahl’s “spaghetti picture.”

Eberhard Wahl is a quali� ed industrial engineer with many years of experience in production and development at TRUMPF, and today is head of Product Management “Flexible Sheet Metal Production”. He’s well acquainted with custom-ers’ everyday realities and constraints. Around 60 percent of TRUMPF customers, he says, are job shops, manufacturing products as SMEs for mechanical engineering, automotive and other industries: “What’s crucial for them today is how quickly, � exibly and ef� ciently they can execute an order. Slowness is fatal.”

Every year, Wahl visits at least � ve dozen cus-tomer sites to ask how business is going, what challenges they are currently facing, and whether

For many customersit is crucial how

quickly, fl exibly andeffi ciently they canexecute an order.


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PE ISSENBERG ( D )

Processes for thefuture –Maximilian Fischer has the overview.

Experiencing connectivity at TRUMPF

Processes in manufacturing plants are becoming increasingly complex. Apps, tablets, cameras and extensive software support are providing more clarity and faster response times. At Agfa HealthCare, for instance, where ‘Industry 4.0’ is making good progress.

049

051

TRUMPF can help them in any way. The most important skill in such consulting, says Wahl, is the ability to “listen attentively, to ask the right questions, and to learn how to understand pre-cisely what the customer’s problems are.”

An instant impression of a core problem facing many customers can be gained from looking at the presentation chart that Wahl refers to as the “spaghetti picture.” From incoming orders to shipping of the completed end product, the chart shows all the typical workstations and sequences within an exemplary manufacturing operation. Countless red and blue “spaghetti lines” can be seen running between the stations – the blue ones stand for information and the red ones for mate-rial � ows. Together, they form a confusing, red-and-blue tangle. “What you’re primarily looking at here is the enormous complexity in manufac-turing operations,” explains Wahl, referring to the chart. “Today, high variance and inevitable inter-ruptions in standard processes are leading to a variety of challenges that can hardly be overcome by small and medium-sized businesses.”

Meanwhile, despite this confusion, customiza-tion, globalization, and increasing time and cost pressures are all requiring that companies actu-ally work even more ef� ciently in order to remain competitive. The demands are shorter response times, smaller batch sizes, and faster throughput times. But for many job shoppers, this is almost

Today, high variance and inevitable interruptionsin standard processes

are leading to a varietyof challenges that

can hardly be overcomeby small and medium-

sized businesses.


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Picture right: The housing of anX-ray film printer – the perfect

component for a punch lasermachine like the TruMatic 6000.

Picture left: Maximilian Fischer, in charge of sheet metal production at Agfa HealthCare, knows the importance of connectivity in a machine park.

053

impossible to realize. “Today I keep hearing from customers that they would react far more quickly,” says Wahl, “but they say they’re just not strong enough to keep up with the tremen-dous pace.”

So what many customers would need would be a fundamental review and optimization of their work processes – that is, of the routines that enabled many of them to do well in the past but are now of only limited viability. The problem is that the inevitable process of thought followed by transformation is something many small businesses and medium-sized companies cannot afford alongside their already strenuous daily business. “In the past, a good punching machine was enough to give our customers the edge on the competition. Those days are gone. Today, they have to check the optimization potential of all their business processes, and commit themselves to a continuous process of change,” says Wahl.

Since this work cannot be handled alone by many in the industry, TRUMPF takes care of much of it for its customers. One example is the prepa-ration of offers, which can sometimes require several days and considerable capacities. With WebCalculate, TRUMPF offers its customers and partners software that is easy to use and cus-tomize. The result: an individual web shop with integrated calculation software that shows the customer’s potential customers in real time what products are available, within what time, and at what price. TRUMPF includes consulting for software implementation and support as part of the package. This not only helps customers to be faster on the supply side, but also keeps them free of obligations so that they can tackle other tasks. For Eberhard Wahl, this symbiotic service is a natural aspect of the attentiveness that is integral to the TRUMPF style.


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Picture right: The machineoperator becomes process manager,

and can monitor several machines simultaneously.

Picture left: Automated production processes like those inside this bending cell are standard at Agfa HealthCare.

055

“For us, being attentive means giving warnings and instructions for action before serious prob-lems arise,” says the consultant. “We want our customers to have the tools that will give them the edge, today and tomorrow.” He adds that what a company is not doing is just as important as what it is doing. “At TRUMPF you won’t � nd us doing things simply because others are doing them. Everything we do is carefully considered – because it’s in our customers’ interests.”

When asked what tools and what processes will be in demand in the future, Wahl soon mentions that magical, much-quoted and currently ubiqui-tous concept known as “Industry 4.0”.

Scarcely any other term has more appeal in the manufacturing industry right now. The German government has declared a special future project in its name, and has initiated a platform made up of representatives from politics, industry, associa-tions, academia and trade unions. But there’s still a lot of confusion about the term, which seems to mean many different things to different people. So what exactly are the distinguishing characteristics of ‘Industry 4.0’? And how will it affect TRUMPF and its customers?

Eberhard Wahl has an answer to that question too – and a comprehensive one, with the preci-sion typical of an engineer. “Industry 4.0 stands for the fourth industrial revolution after mech-anization, electri� cation and automation. In the

At TRUMPF you won’t fi nd us doing things simply because

others are doing them. Everything we do is carefully

considered – because it’sin our customers’ interests.

EBERHARD WAHLHEAD OF PRODUCT MANAGEMENT

“FLEXIBLE SHEET METAL PRODUCTION”


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Picture right: To ensure that the quality is just right, every single

sheet metal part is scanned, accurately measured, and

documented.

Picture left: While the punch laser machine processes one order, Maximilian Fischer can already discuss the next; meanwhile his colleague monitors the laser system, located far off in another corner.

057

future – now that today’s manufacturing pro-cesses and machines are being digitized, or digi-talized, ever more effectively – they’re going to be ever more closely networked. This enables com-pletely new and intelligent value-added processes across entire product lifecycles.” Wahl then viv-idly describes real-time-optimized and self-or-ganizing value-added networks that will replace traditional linear production and go far beyond the limitations of companies. He talks enthusi-astically of the optimization potential offered by production organized in this way, in terms of cost, availability and resource consumption. And then he suddenly suggests we take a look at the whole thing live and in color – by taking a trip to the TRUMPF production facility in Gerlingen.

The TRUMPF factory in Gerlingen is just four kilo-meters away from the company’s headquarters in Ditzingen. The punching tools manufactured by this plant, with its 94 employees, are used by TRUMPF customers to fabricate sheet metal components for many different sectors, includ-ing the automotive, home appliance, furniture, facade and machine manufacturing industries. These punching tools are all different from each other, sometimes minutely so, and each is quite unique. “We therefore have very similar require-ments as many of our customers when it comes to complexity,” says plant manager Markus Hees, “and, just as for our customers, it’s how quickly we deal with them that is the crucial factor”.

This is why, in recent years, gentle yet fundamen-tal changes have been implemented at the Gerlin-gen factory. In a special, separate section of the factory hall, four fully automatic processing machines are now in operation; although locally monitored and maintained by TRUMPF employees, they are being fed with orders sent from TRUMPF customers anywhere in the world. After these customers have logged in via the customer portal “MyTRUMPF” they can enter the con� guration themselves of any punching tool they require. The shop system then decides automatically which machine will take over the job and what priority level is involved. This not only eliminates order


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Picture right: The last screws are tightened – and the radiography

device is ready for delivery.

Picture left: On eye level with the manufacturer: Maximilian Fischer talks with a service expert at TRUMPF, who can highlight explanations for him and help to locate the fault.

KARLSRUHE ( D )

Oneplatformfor all – Florian Weigmann createssolutions.

Founding the future with TRUMPF

The newly-founded � rm of AXOOM GmbH isworking on an open business platform that TRUMPF,its customers and partners will all share. The key: optimizing entire business processes instead of only machines.

059

acceptance and processing but also sharply accel-erates production itself – because since the four machines integrated into the system work 24/7, they can complete a job far more quickly and can also adapt it to match TRUMPF customer sched-ules and order situations, which are subject to very different laws than the shift and work sched-ules of a normal factory.

According to statistics provided by Gerlingen plant manager Hees, it seems that the order intake from customers can � uctuate by up to 50 percent each day. What exactly triggers these enormous � uctuations in the order situation is still a mys-tery to the factory manager, but ultimately this is of no consequence. What matters far more is that any desired punching tool reaches the customer as quickly as possible, and that fully automated production enables far greater variety. Theoreti-cally, TRUMPF customers today can choose from around 31 million standard tool variants.

“When I started out at TRUMPF in 2001, we still needed an average of eight to ten days for one order,” says Hees, recalling days long gone. “Today, our delivery time has fallen to an aver-age of three days. And if a customer is in a seri-ous hurry, we even have same-day delivery for any punching tool that’s been ordered by 2 pm.”

For Markus Hees, the enormous pace is just one advantage of production à la Industry 4.0. A further key bene� t lies in the reduced costs and smarter processes enabled by a digitized and net-worked production system. The production hall at Gerlingen is currently being converted, because smarter production with more complex machines is making many individual special machines

Theoretically, TRUMPF customers today can choose

from around 31 million standard tool variants.


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KARLSRUHE ( D )

Oneplatformfor all – Florian Weigmann createssolutions.

Founding the future with TRUMPF

The newly-founded � rm of AXOOM GmbH isworking on an open business platform that TRUMPF,its customers and partners will all share. The key: optimizing entire business processes instead of only machines.

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061

super� uous. On one of these new machines, tests are being carried out to see where things could go in the near future. Each blank is being laser marked with a special code that makes it digitally recognizable at any stage of the production pro-cess. This will render standard order forms obso-lete. “It’s like the blank knows what’s going to happen to it,” explains Hees, “and our customers can always track the current status of their order, from initial acceptance to courier delivery.”

In Gerlingen, therefore, the much-discussed ‘Industry 4.0’ is already a reality. “What would have happened if we hadn’t noticed the signals from the market a few years ago?” Hees wonders, and promptly answers his own question: “Then we wouldn’t have been by far as successful as we are today. There’s a chance that we could have vanished from the market entirely, because others were faster and cheaper than we were.”

TRUMPF’s sensitivity to market changes and macro trends is resulting not only in improved services for customers, but also in a noticeable change within the company itself. Suddenly, things are conceivable now that would have been rejected out of hand or seen as too visionary just a few years ago. Today, however, they are quite simply groundbreaking.

Who would have thought, for example, that soft-ware developers would one day be such an impor-tant target group for recruitment at TRUMPF? That the company would launch a start-up for cloud computing, and that it would develop so dynamically? Or that TRUMPF, the rock-solid

TRUMPF launches astart-up for cloud

computing and starts todevelop a further

mainstay as a software fi rm.


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Picture right: The employees make regular trips to TRUMPF headquarters in Ditzingen, often to collect a few small items that are

still missing at the new company.

Picture left: Florian Weigmann, CEO of AXOOM GmbH, wants to give TRUMPF customers the competitive edge with his comprehensive business platform.

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mechanical engineering company, would develop a further mainstay as a software � rm?

Yet that is precisely what has happened. More and more employees are currently moving into an of� ce building in Karlsruhe – jointly used by TRUMPF, the Karlsruhe Institute of Technology (KIT), and other software experts – to work for a company of their own. It will soon have around 30 program-mers, including a development team from a sub-sidiary in Chennai, India. All are working on an open, independent business platform that will be jointly used in the future by TRUMPF, its customers and its partners. The name of this ambitious small company and its product is AXOOM.

For TRUMPF, the development of a broad-based solution like this was “fairly new territory,” admits Dr. Stephan Fischer, head of software development at the company. “We’re going beyond our own borders here, because for our customers and part-ners we want to solve problems that neither start nor stop at TRUMPF machines. This platform offers them maximum � exibility with all the tools and options they need to optimize their work processes – in stages and steps that can be individually con-trolled.” Examples here include online purchase of materials; the order acceptance and costing offered by WebCalculate; the networked control of material � ow and production as exempli� ed by the factory in Gerlingen; or access to offers from powerful logistics partners.

We’re going beyondour own borders here,

because for our customers and partners we wantto solve problems that

neither start nor stop at TRUMPF machines.

DR. STEPHAN FISCHER HEAD OF SOFTWARE DEVELOPMENT


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Picture right: A team meeting for a team that has now outgrown the

space available – so carrying chairs around is quite normal.

Picture left: Hey, wake up! It’s easy to become engrossed in the work and get glued to the screen.

065

“The working title for the project was Apollo, and the parallel with the Moon expedition isn’t that far-fetched,” says Fischer. “After all, we’re enter-ing completely new territory here. It’s clear that, like any pioneer entering the unknown, we have a few surprises in store for us, and we’re posi-tively excited about them.” The process of estab-lishing a cloud as powerful as this one, which will decrease complexity for customers from manu-facturing industry while strengthening their com-petitiveness, is of course highly complex in itself, and Fischer and AXOOM CEO Florian Weigmann have an ambitious schedule ahead of them.

“We’ve coordinated very closely with customers in the highly dynamic design phase, and we’re already representing many of their requirements in several modules,” reports Weigmann. “The open beta version of the business platform is soon to follow, and we’ll be testing it out together with a larger number of customers.” According to the project schedule, the “data cloud” should be accessible to a broad customer base by as early as mid-2016. Enormous tasks still need to be accomplished by then, but the outlook is prom-ising. As with all genuine innovations, success is by no means certain, but as Artur Schopen-hauer once said: “All new ideas are initially rid-iculed by professionals; then they are violently opposed; ultimately, however, they are accepted as self-evident.”

TRUMPF continues to change – together with its customers, for their bene� t, and apace with them.

We’ll be testing outthe open beta version of

the business platform together with a larger number of customers.

FLORIAN WEIGMANN CEO OF AXOOM


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Picture right: The developmentresults have to stand up to criticism

from colleagues on a regular basis.

Picture left: “Focus on customer benefit” – of all the messages collected here, this one is the most important.

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Sometimes it’s hard to say what came � rst: Was it the decision to take customers’ needs, processes and products to a new level? Or the company’s proactive realization that such a change would be important and correct? Or was it speci� c projects, such as the StreetScooter or the new software platform, which are ushering in change and are as innovative as they are successful?

All of that is just as hard to answer as the ques-tion about where TRUMPF will be headed in a few years’ time. Here, too, a brief digression into the experiences of biologists is enlightening. “Our entire behavior is played out in balances,” says evolutionary biologist Professor Hans Mohr. “In evolution, what we call mixed strategies are all that have prevailed, because it is only mixed strategies that give people, animals and plants the elasticity in behavior that they need to effec-tively meet changing environmental in� uences.” He regards one-sided strategies as always having been doomed to failure.

It is precisely this elasticity that TRUMPF retains. It does so by registering changes with special sensitivity and always as rapidly as possible; by remaining open to new ideas; by continu-ally being ready to ditch cherished habits if they are no longer in keeping with the times; and by adapting new ideas insofar as they help the com-pany and its customers.

In other words: An attentive company like TRUMPF remains true to itself by constantly changing – while the world of its customers and partners changes along with it.


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Picture right: They’ve just moved in – and the entrepreneurs at

AXOOM are full of pioneering spirit.

Picture left: Looks like the AXOOM color is going to be yellow – judging by these first accessories.

Index –54 pictures6 stories

attentiveTRUMPF Annual Report 2014/15 069

Index

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Since 2012, Valentina Wössner has been train-ing at TRUMPF as part of a dual studies course in mechanical engineering. In the “TRUMPF Tech Cube” project she not only learned tech-nical skills, but also interdisciplinary team-work: the importance of thinking in processes, and developing an eye for the needs of the target group. She also made some interesting contacts in jobs outside the curriculum,ranging from student groups to customers and research institutes.

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DISCOVER ING GREAT

NEW OPT IONS –

VALENT INA WÖSSNER

AND THE CUBES .

attentive TRUMPF Annual Report 2014/15070

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Stefan Stagel is one of the 247 TRUMPF employees in Germany to use the so-called “family and train-ing time account.” Up to 1,000 regular working hours can be booked to this account and then retrieved later on for large blocks of free time up to six months, or for � nancing reduced working hours. Stefan Stagel saved up seven weeks to take a vacation trip in summer 2014 along the northern section of the “Panamericana.” He’s currently saving again.

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PASTURES

NEW –

STEFAN STAGEL

CROSSES

AMERICA .


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Gerda Schmider works in Grüsch. The small town in the Swiss mountain valley of Prättigau is not only home to three TRUMPF subsidiaries, it’s also a very beautiful place. The idyllic location makes careful site design especially important, which is why, as elsewhere, the TRUMPF buildings blend harmoniously into the landscape. The main construction materials include wood, gravel and limestone and, since 2013, the Grüsch site has also used ground-water for heating and cooling.

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FORM AND

FUNCT ION –

GERDA SCHMIDER

GETS

INSP IRED .


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Marc Kirchhoff is an e-mobility expert – and a laser expert as well. This is why he got involved early on in a research project at the RWTH Aachen: The goal was to design and build a new, low-cost elec-tric vehicle. This produced the StreetScooter, which has since been acquired by Deutsche Post and is being mass-produced as a delivery vehicle. The TRUMPF laser experts contributed here to a whole new, � exible, material-saving design principle.

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RE INVENT ING

MOBIL I TY –

MARC K IRCHHOFF

HELPS WITH THE LASER .


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Maximilian Fischer is responsible for sheet metal parts production at Agfa HealthCare in Peissen-berg, Bavaria. The parts are produced on TRUMPF machines and are key components for radiogra-phy devices and X-ray � lm printers manufactured by Agfa. The company ranks as a pioneer in the e-health area, and is a leading provider of connec-tivity solutions for general practitioners and healthcare services. So it’s no surprise that sheet metal production is connected too, and operates with state-of-the-art machinery.

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PROCESSES FOR

THE FUTURE –

MAXIMIL IAN F ISCHER

HAS THE OVERVIEW.


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Florian Weigmann is CEO of AXOOM GmbH, a young company that TRUMPF has just established.It is developing an open and independent business platform for manufacturing operations. Here, TRUMPF is intentionally breaking its own barriers, because the mission is to solve problems for customers that neither stop nor start at TRUMPF machines. AXOOM provides the diverse and highly � exible tools that are required in the opti-mization of “Industry 4.0”-related work processes.

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ONE PLATFORM FOR ALL –

FLOR IAN WEIGMANN

CREATES SOLUT IONS .


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2 0 142015

5,413Employees in Germany

5,460outside Germany

10,873

Info

EmployeesTRUMPFAT A G L A N C E

In fiscal year 2014/15, theTRUMPF Group had moreemployees abroad than inGermany for the first time.

TRUMPF

2014 / 15

TRU M PF.CO M

ANNUAL REPORT

> Contents

091 Group Management Report

093 Structure and Business Activities

094 Economic Report

104 Securing the Future

116 Opportunities and Risks

124 Subsequent Events

124 Outlook

129 Consolidated Financial Statements

130 Consolidated Balance Sheet

131 Consolidated Profit

and Loss Account

132 Statement of Shareholders’ Equity

134 Development of the Consolidated Fixed Assets

135 Consolidated Cash Flow Statement

136 Notes to the Consolidated

Financial Statements

156 Audit Opinion

079 The Company

080 Company Management

081 Message from the Management

082 Supervisory Board Report

084 Company Information

086 Global Presence

089 Shaping the future sustainably

TRUMPF Annual Report 2014/15078

080 Company Management

081 Message from the Management

082 Supervisory Board Report

084 Company Information

086 Global Presence

089 Shaping the future sustainably

ContentsP

The Company2014/15

The CompanyTRUMPF Annual Report 2014/15 079

Dr. rer. soc. Gerhard Rübling

Dr.- Ing. E.h. Peter Leibinger

Dr. phil. Nicola Leibinger-Kammüller

Dr.- Ing. Mathias Kammüller

Dr. rer. pol. Lars Grünert

>

Company Management>

The Company TRUMPF Annual Report 2014/15080

> Message from the Management

Ladies and Gentlemen,

The TRUMPF Group can look back on a very good fiscal year. We successfully increased sales and earnings once again compared to the previous year. The macroeconomic conditions were not always easy: In addition to the decline in business with Russia, we were also hit by currency effects on our Swiss locations. Ultimately, however, we achieved the highest sales in the company’s history.

We are especially pleased that we were able to compensate for the discontinuation of the Medical Technology division within just one year. This was due to the good results in our core business of machine tools and laser technology. We also integrated new firms into our company: JK Lasers in the UK, EHT in Teningen, Germany, the software producer Metamation in India, and sales and service subsidiaries in Turkey, Bulgaria and Romania are now part of the TRUMPF Group. Growth, for us, is never an end in itself: We grow in order to optimally position ourselves in the important fields, markets and product segments of the future.

This includes initiation of a business platform with which we are specifically driving further digitalization in mechanical engineering as part of “Industry 4.0.” With AXOOM, together with other partners, TRUMPF will answer the question of how we can develop innovative software-based business models and arrive at integrated solu-tions for the benefit of our customers.

An annual review should not shy away from self-criticism. The Electronics division was obliged to face a decline in orders, which led us to make structural changes. Nevertheless, after a successful run through the strategy process, we are convinced we can raise the market potential of electronics under new conditions! This is not something that can be done within one year – it will require the special staying power we have as a family business.

On that note, thank you to our customers for having once again placed your trust in us, our products and our services, within a difficult market environment. And thanks also to our suppliers and partners, for your willingness to break new ground together with us.

Outward growth has to be accompanied on the inside by further developing our shared understanding of the TRUMPF brand. What makes us different? What do we stand for? In addition to our customers, partners and suppliers, no-one knows that better than our employees. Our thanks also go to them at this point, for helping to shape the process of change in the Group so constructively, and with so many good ideas.

Ditzingen, October 2015

DR. PHIL . NICOLA LEIBINGER-KAMMÜLLERPRESIDENT AND CHAIRWOMAN OF THE MANAGING BOARD


Supervisory Board Report>

Ladies and Gentlemen,

The 2014/15 fiscal year was a record year for TRUMPF. Order intake, sales and earnings all increased significantly. The divestiture of the Medical Technology division was more than offset by this. The company is altogether well-positioned. The strategy of growth through innovation, regional diversification, and targeted acquisitions in our core businesses is a successful one.

The Supervisory Board exercised the responsibilities incumbent on it with due skill, care and diligence, in accordance with statutory regulations. Communication between the Managing Board and the Supervisory Board was constantly close and effective. The efficiency audit of the Supervisory Board, carried out once again, confirmed this. The Chairwoman of the Board informed the Supervisory Board regularly and promptly of all events of significance. The Supervisory Board met three times during the period under review, during which it dealt comprehensively with the strategy of the divisions and of the regions of North America and China, the business opportunities offered by industry 4.0, the new management structure, and risk and compliance management. Regular points of consultation were the Company’s business policy, budget monitoring, and all significant investment and acquisition projects.

During the 2014/15 fiscal year, Dr. Klaus Parey resigned from the Supervisory Board. Jürgen Schäfer was appointed the employees’ Supervisory Board member in his place. We thank Dr. Parey for his constructive and trusting cooperation.

The annual balance of accounts, the consolidated financial statements and the group management report were audited by Ernst & Young GmbH Wirtschaftsprüfungs-gesellschaft, Stuttgart, and each section was issued with a clean audit certificate. After completing its own audits of the annual balance of accounts, the proposed appropria-tion of earnings, the consolidated financial statement as well as the group management report, the Supervisory Board has accepted without objection the annual balance of accounts and the consolidated financial statement as presented by the Managing Board.

The Supervisory Board thanks the Managing Board and all employees worldwide for their hard work and constructive personal contributions to the success of the company. We also thank the works council representatives for their good cooperation.

Ditzingen, October 2015

DR. RER. NAT. JÜRGEN HAMBRECHTCHAIRMAN OF THE SUPERVISORY BOARD


>

TRUMPFG m b H + C o . KG

Company Information

Managing Board

Dr. phil. Nicola Leibinger-Kammüller

President and Chairwoman of the Managing Board of TRUMPF GmbH + Co. KG,responsible for strategic development, corporate com-munication, brand management, real estate, facilities, legal affairs, sustainable development and security

Dr.-Ing. E.h. Peter Leibinger

Vice-Chairman of the Managing Board of TRUMPF GmbH + Co. KG and head of the Laser Technology/Electronics division, responsible for research and development

Dr.-Ing. Mathias Kammüller

Executive Vice-President of TRUMPF GmbH + Co. KG and head of the Machine Tools division, responsible for production, quality and process management, and purchasing, with regional responsibility for China

Dr. rer. pol. Lars Grünert

Chief Financial Officer of TRUMPF GmbH + Co. KG, responsible for finance, financial services and information technology, with regional responsibility for North America

Dr. rer. soc. Gerhard Rübling

Executive Vice-President of TRUMPF GmbH + Co. KG and Labor Director, responsible for human resources, sales and services, with regional responsibility for Europe, Central/South America and Asia (China excepted)

Partners

Family Leibinger

95.0 percent

Berthold Leibinger Stiftung GmbH*

5.0 percent

* Indirectly via Berthold Leibinger Beteiligungen GmbH.


Berthold LeibingerG m b HSupervisory Board

Dr. rer. nat. Jürgen Hambrecht

Neustadt an der WeinstraßeChairman of the Supervisory Board of Berthold Leibinger GmbH,Chairman of the Supervisory Board of BASF SE, Ludwigshafen

Renate Luksa *

Vaihingen/EnzVice-Chairman of the Supervisory Board of Berthold Leibinger GmbH,Senior Chairman of the Works Council of TRUMPF Werkzeugmaschinen GmbH + Co. KG, Ditzingen

Werner Bruker *

LauterbachChairman of the Works Council of TRUMPF Laser GmbH, Schramberg

Dr.-Ing./U.Cal. Markus Flik

StuttgartChief Executive Officer of CHIRON-WERKE GmbH & Co. KG, Tuttlingen

Stefan Fuchs

HirschbergChairman of the Executive Board of FuchsPetrolub SE, Mannheim

Prof. Dr. rer. pol. Hermut Kormann

UlmFormer Chairman of the Board of Managementof Voith AG, Heidenheim

Prof. Dipl.-Ing./M. Arch. Regine Leibinger

BerlinArchitect, Barkow Leibinger Architects, Berlin

Monika Lersmacher *

KornwestheimUnion Secretary of the IG Metall Trade UnionBaden-Württemberg, Stuttgart

Dr. rer. nat. Klaus Parey * (until October 31, 2014)

EngelsbrandHead of Innovation Management and Technical Services at TRUMPF GmbH + Co. KG, Ditzingen

Martin Röll *

TübingenSecond Delegate of the IG Metall Trade Union Stuttgart

Jürgen Schäfer * (from February 12, 2015)

WeinstadtDirector of the Corporate Department Real Estate and Facilities, TRUMPF Immobilien GmbH + Co. KG, Ditzingen

Joachim E. Schielke

BacknangFormer Chairman of the Board of Management ofBaden-Württembergische Bank, Stuttgart Former Member of the Board of Management of Landesbank Baden-Württemberg, Stuttgart

Harald Weihbrecht *

TrochtelfingenChairman of the Works Council of TRUMPF Werkzeugmaschinen GmbH + Co. KG, Hettingen

* Employee representative.


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Global Presence

68 – SubsidiariesTRUMPF

TRUMPF Annual Report 2014/15TRUMPF Annual Report 2014/15The Company086

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DitzingenHeadquarters, with plants inGerlingen, Hettingen

Aachen

Freiburg

Munich

Neukirch

Schramberg

Teningen

SofiaBulgaria

HaguenauFrance

ParisFrance

LutonGreat Britain

RugbyGreat Britain

SouthamptonGreat Britain

MilanItaly

TurinItaly

VizencaItaly

HengeloNetherlands

LinzAustria

WarsawPoland

BucharestRomania

MoscowRussia

AlingsåsSweden

BaarSwitzerland

GrüschSwitzerland

KošiceSlovakia

MadridSpain

LiberecCzech Republic

PragueCzech Republic

IstanbulTurkey

BudapestHungary

São PauloBrazil

MississaugaCanada

ApodacaMexico

CranburyUSA

FarmingtonUSA

RenoUSA

Santa ClaraUSA

DongguanChina

Hong KongChina

TaicangChina

ShanghaiChina

YangzhouChina

ChennaiIndia

PuneIndia

JakartaIndonesia

YokohamaJapan

SagamiharaJapan

Kuala LumpurMalaysia

SingaporeRep. of Singapore

SeoulSouth Korea

Gueishan ShiangTaiwan

There is at least one operational TRUMPF subsidiary at each of these sites.

GERMANY

11EUROPE

30AMERICA

7ASIA-PACIFIC

20

TRUMPF Annual Report 2014/15TRUMPF Annual Report 2014/15 The Company 087

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S

Innovative Projects

SR

Corporate social responsibility and the future-oriented

utilization of resources are part of our culture as a family-

owned company. Education, our employees, research,

the values of a family business, and sustainable business

practices are all areas in which we have a special

commitment.

SR 1 ED UC AT I O N

SR 4 FA M I LY BUS I N E SS

SR 3 R E SE A RCH

SR 5 SUS TA I N A BL E BUS I N E SS P R AC T ICE S

SR S O C I A L R E SP O NS I B I L I T Y

SR 2 O U R EM P LOYEE S


Social Responsibility

Shaping the future sustainably

SR 1

EducationWithin the context of various networks, and together with local educational institutions, we shape future-oriented educational projects and assume our responsibility for keeping Germany an attractive and competitive location for education and science.

Ten years ago we were one of the founding members of the “Knowledge Factory – Companies for Germany” association. In its anniversary year of 2015, we can look back over a successful decade: With various programs such as “KIEWIS”, “School2Start-up” or “Student2Start-up,” and after nearly 2,500 project hours, we have reached more than 1,800 students and advised numerous entre-preneurs. And that is only an intermediate result – the search for new topics and projects continues.

We have also sponsored a book that introduces young people to the subject of economics and entrepreneurship. It was written by Reinhold Gross, Managing Director for Sales and Services in the Machine Tools division, together with his children. The “Ice-Cream Bakery” provides a vivid account of how an imaginary company is founded – and conveys skills that are also very useful for our school projects.

SR 2

Our Employees With their qualifications, commitment and motivation, our employees determine the future effec-tiveness and competitiveness of TRUMPF.

In the training of our employees, we are breaking new ground. Together with the Staatsgalerie Stuttgart, we have developed an experimental dialog workshop series and integrated it into our seminar program. Beyond everyday structures, the unusual work environment of a museum offers participants major scope for development with regard to topics such as “creativity” and “inter-cultural competency.”

TRUMPF Annual Report 2014/15TRUMPF Annual Report 2014/15 The Company 089

SR 3

ResearchInnovation is a part of our corporate culture. This is why we work together with universities and research institutes on the technologies of the future. In the relevant research networks, we strive for a bilateral transfer of knowledge between research and practice.

The United Nations proclaimed 2015 the “International Year of Light and Light-Based Technolo-gies.” A year for laser technology, and for TRUMPF. We are participating in many of our scientific partners’ projects, initiatives and symposia. For the “Technical Collection” in Dresden, we donated an entire “LaserLab” for its exhibition marking the Year of Light, complete with seven laser-themed “experience stations.”

SR 4

Family BusinessAs a family business it is important to us to help shape framework conditions in industry, science and education. The members of our Group Management are personally involved in various boards and committees. As a company, TRUMPF is a member of many associations and organizations in which our experts participate in working groups.

Since 1975, TRUMPF has been a member of the German Stifterverband, a business community initiative advocating long-term improvement of the German education and research landscape. As the first woman on the board, Dr. phil. Nicola Leibinger-Kammüller has strongly supported the aims of the association since 2015. In order to sustainably improve the education and research landscape, the Stifterverband sponsors universities and research institutes, supports talented individuals, and analyzes the science system, deriving recommendations for politics and business.

SR 5

Sustainable Business PracticesWe are firmly committed to our responsibility for future generations, and think and act long-term. At the beginning of the 2014/15 fiscal year, we established a central department for Sustainable Economic Management and Security, which will coordinate sustainability reporting within the TRUMPF Group in the future.

In our production we consistently implement lean thinking with our SYNCHRO concept, striving to avoid any kind of waste. This standard also applies in all other areas of our company. In product development, we place great emphasis on minimizing resource consumption, enabling our customers to save on energy and materials. Energy savings and sustainable concepts are also important to us in the construction and modernization of buildings. Ergonomic solutions for our products, or flexible work schedules at our company, are just two of the ways we deal with demographic change.


Group Management Report2014/15

093 Structure and Business Activities

094 Economic Report

104 Securing the Future

116 Opportunities and Risks

124 Subsequent Events

124 Outlook

ContentsP

091TRUMPF Annual Report 2014/15 Group Management Report

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2,717.0 million €

Info

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MACHINE TOOLS

Machine Tools

Machine tools for flexible sheet metal and tube processing


Laser Technology

Lasers for production technology

Electronics

Power supplies for high-tech processes

Divisions

TRUMPFAT A G L A N C E

>

2 0 142015Sales

092 TRUMPF Annual Report 2014/15Group Management Report

Structure and Business Activities

The high-technology company TRUMPF offers production solutions in the machine tool, laser and electronics sectors. They are used in the manufacture of the most diverse products, from vehicles, building technology and mobile devices to state-of-the-art power and data storage. As an independent, family-owned company we think and act long-term. Our desire to shape the future has made us a guarantor of continuous innovative strength. We offer our customers future-oriented, reliable production solutions that give them the competitive edge and secure their long-term success.

Two divisions – One powerful company

The two divisions, Machine Tools and Laser Technology/Electronics, are both under the roof of a holding company, TRUMPF GmbH + Co. KG.

Our largest area of activity comprises machine tools for flexible sheet metal and tube processing. We have machines for bending, punching, combined punch and laser processing, and also laser cutting and welding applications. Diverse automation solutions and a broad range of software round off the portfolio.

Our product range in laser technology contains laser systems for the cutting, welding and surface treatment of three-dimensional components. We provide high-performance CO2 lasers, disk and fiber lasers, direct diode lasers, ultrashort pulse lasers, and also marking lasers and marking systems.

The electronics product portfolio includes DC, radio and medium frequency generators for inductive material heating, surface coating and processing via plasma technology, as well as for laser excitation.

Group Management Reportfor fiscal year 2014/15


Comprehensive worldwide service

We support our customers with comprehensive service that covers the entire lifecycle of our products. We offer all services – from financing concepts, functional expansion and technical service to consulting, training and second-hand machinery trade.

The Machine Tools and Laser Technology divisions are based in Ditzingen (Germany). The Electronics business field is managed from Freiburg (Germany).

The TRUMPF Group is represented in all of the world’s leading markets. We have 68 operational subsidiaries in Europe, America and the Asia-Pacific region. There are production plants in Germany, France, Great Britain, Italy, Austria, Switzerland, Poland, the Czech Republic, the USA, Mexico, China and Japan.

Economic Report

Economic Situation

World economy still on course for growth

According to the International Monetary Fund (IMF), the global gross domestic product in 2014 was 3.4 percent above the level of the previous year. The established industrial nations were primarily responsible for this, while growth in emerging countries remained moderate.

The global economy in 2014 was affected by complex factors that remain relevant for 2015. These included overall social phenomena such as the demographic development and steadily weaker growth, together with a low oil price, several significant exchange-rate fluctuations and geo political crises.

Boosted by consumer confidence resulting from further declines in unemployment and the low price of oil, the economic performance of the USA increased by 2.4 percent. In the eurozone, too, economic growth was up by 0.8 percent in relation to the previous year. This was primarily due to higher exports. In Germany, GDP rose by 1.6 percent. In Japan, economic growth fell

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The established industrial nations primarily were responsible for growth; the emerging countries made more moderate gains.

Change in GDP worldwide in percent

3.2

10 1411 12 13

5.3

3.9

3.1

Source: International Monetary Fund

3.4


by 0.1 percent, while the Chinese economy managed to remain roughly at the previous year’s growth level and increased by 7.4 percent. Nevertheless, factors such as a weakening real estate market and lower investments indicate a slowdown. At 4.6 percent, growth in emerging coun-tries was again below the level of the previous year, and, according to the forecasts, this trend will continue.

Inconsistent development in the machine tool market

In 2014, Germany’s mechanical and plant engineering sector experienced a cyclical roller-coaster. Following a good start to the fiscal year, sharp slowdowns were caused by the crisis in Ukraine and a drop in domestic investment. Despite this, according to the German Engineering Federation (VDMA), sales increased by 2.9 percent to €212 billion, while production rose by 2.2 percent to €199 billion. Employment reached a new high in the sector, with 1.01 million people working for more than 6,400 companies. As a result, German mechanical and plant engi-neering continues to be the industry with the highest employment in the country.

According to the German Machine Tool Builders’ Association (VDW), the machine tool industry in Germany had an order intake in 2014 of €14.8 billion. This corresponds to an increase of 4.0 percent as compared to the previous year. An exceptionally dynamic development at the start of the year was followed by a sharp slowdown; only the final quarter secured the overall satisfactory result for 2014.

The production trend followed that of order intake. The production volume of €14.5 billion remained at 1.0 percent above the previous year’s level. The decline was noticeable in the production of machine tools for sheet metal processing, as well as forming. The only increase in the sector was in parts, equipment and services. The production volume for machines fell by 3.0 percent to €10.8 billion.

Global production of machine tools rose in 2014 by 4.0 percent to €59.9 billion. With a share in global production volume of over 21 percent, China remained the largest producer. Once again, the German manufacturers had to surrender second place to Japan, and they were followed by Italy and South Korea. With an export volume of €7.6 billion, Germany successfully maintained its position as the world’s leading exporter, accounting for 21.1 percent of all machine-tool exports worldwide.


Global market for industrial laser systems continues to grow sharply

According to a survey by Optech Consulting, the world market for industrial laser systems achieved a new record volume of €8.7 billion in 2014. This is equivalent to an 8.5 percent increase over the previous year.

Throughout Asia, there was a double-digit increase in demand. Growth in North America also increased sharply, while demand in Europe was below average because of the deteriorating eco-nomic situation. Worldwide, great interest was shown in products for both high-performance and precision processing, with laser cutting and welding and also additive manufacturing tech-nologies. By contrast, the product market for laser micro processing in the electronics industry made only little progress. Among the beam sources, fiber lasers had the sharpest sales increases.

Over 50 percent of global demand for industrial laser systems was registered in Asia, and the trend is still increasing. According to Optech Consulting, China will probably replace Europe by 2020 as the largest market worldwide, even though demand continued to rise in Europe during 2014.

For 2014, according to the VDMA, German manufacturers of industrial laser systems realized an 11.0 percent increase in production to €852 million. Exports of laser systems grew by 16.0 percent, and have now reached a 78.0 percent share of the production value in Germany. The US, Chinese and Japanese markets recorded especially strong growth. Western Europe expanded moderately, as well.

According to the Central Association of the Electrical Engineering and Electronics Industry (ZVEI), sales in the German electrical industry during 2014 increased to €171.8 billion in 2014. The sector grew by 2.9 percent in relation to the previous year, exceeding that year’s forecast. Production grew in real terms by 2.6 percent as compared to the year before.


Business Development

In the 2014/15 fiscal year, sales in the TRUMPF Group exceeded the €2.7 billion mark for the first time. They increased by 5.0 percent to €2.72 billion (previous year: €2.59 billion). An important special effect should be noted here: The consolidated sales figure includes revenues from the Medical Technology division only for the month of July 2014, because effective August 1, 2014 it was sold to the US medical technology manufacturer Hill-Rom Holdings, Inc. In an adjusted annual comparison that excludes the Medical Technology division, consolidated sales rose during the year under review by 12.6 percent.

The TRUMPF Group actually managed to overcompensate for the sales contribution by the medical technology companies of €184 million during fiscal 2013/14. In comparison to the previ-ous year, the two divisions of Machine Tools and Laser Technology/Electronics successfully increased their sales by a considerable margin – whereby the consolidated revenues within the divisions were used as a basis for comparison.

Machine tools division registers high-level growth

We successfully increased sales at Machine Tools, our largest division, by 9.4 percent to €2.36 billion (previous year: €2.16 billion). Almost half of this growth, however, was due to currency effects – especially the weak euro.

In the Machine Tools division, the 2014/15 fiscal year was marked by numerous world premieres and new developments. In all machine technologies – laser cutting, laser tube cutting, punching and bending – we successfully placed new products from the high-quality 5000 Series in the market. TruTops Boost, our new process-oriented software for design and programming applica-tions, is also being well received. In general, our customers are steadily showing more interest in the numerous possibilities offered by gradual process optimization and increased productivity as part of Industry 4.0. Increasingly, energy efficiency is also becoming an important criterion in machine procurement. As an example here, the investment program launched by Japan’s current Prime Minister Shinzo Abe, with its subsidization of energy-efficient production systems, gave our sales of solid-state laser machines a noticeable boost in the important Japanese market.

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In an adjusted annual comparison, accounting for the sale of Medical Technology the TRUMPF Group actually achieved a sales increase of 12.6 percent.

Salesin € millions

2,587

10/11 14/1511/12 12/13 13/14

2,024

2,328 2,343

+ 5.0%Sales increase:

2,717


Laser Technology division increases sales impressively by almost 17 percent

The Laser Technology/Electronics division registered sales of €966 million, an increase of 14.8 percent (previous year: €841 million).

This growth came directly from the laser technology business field, where sales rose by 16.8 percent to €890 million (previous year: €762 million).

The solid-state laser business is of great importance to TRUMPF, both in the OEM sector, and also as tools incorporated into their own machines. The cost reduction in diode-pumped solid-state lasers driven by diode technology once again increased demand sharply. Lasers of this type are finding ever broader application, and this has had a very positive influence on sales and earn - ings in the laser technology business field. One powerful sales driver is lightweight construction in the automotive sector, for example in the processing of high-tensile steels. Highlights of the 2014/15 fiscal year included the use of TRUMPF UV lasers in the production of flexible flatscreens. For EUV technology it was a year of transition, following the initial wave of test- system installations during previous years. Toward the end of the year under review, a major order placed by a leading US chip manufacture with our customer led to a breakthrough in the pilot production and future large-scale manufacture of microchips utilizing EUV lithography.

Revenues in the electronics business field fell by 9.6 percent to €102 million (previous year: €113 million). This was the result of general investment restraint in the core markets of glass, display and industrial coatings, as well as electrothermal processes. The photovoltaic industry remained relatively flat, and the electronics sector was also negatively impacted by the declining share of CO2 lasers in machine tools.

Laser-relevant products account for almost two thirds of revenue

The shares in turnover of the divisions changed sharply in relation to the previous fiscal year, due to the sale of the Medical Technology division. Taking the consolidated sales within the divisions as a basis, the Machine Tools division had a share in the complete TRUMPF turnover of 70.7 percent (previous year: 67.8 percent). The Laser Technology/Electronics division generated a share in consolidated turnover of 28.8 percent (previous year: 26.4 percent). During the one month of the year under review that the Medical Technology division still belonged to the TRUMPF Group, it contributed 0.4 percent to consolidated sales.

Graphic 03

* consolidated within the division

a / MACHINE TOOLS 2,361 / +9.4%

b / LASER TECHNOLOGY/ELECTRONICS 966 / +14.8%

c / MEDICAL TECHNOLOGY 12 / – 93.5%

b

a

c03Graphic

> Sales according to divisions*in € millions

Medical Technology only belonged to the TRUMPF Group for one month during the year under review.


Laser-relevant product sales totaled €1.86 billion in the 2014/15 fiscal year, equivalent to 68.5 percent of consolidated sales. Compared to the previous year, in which laser-relevant sales totaled €1.73 billion or 66.8 percent of turnover, this is a remarkable increase. It can be ascribed to the sale of the Medical Technology division, as well as to acquisitions in the laser sector.

Asia’s share in turnover increasing

In terms of regional sales distribution, the trends of the previous year continued. Asia’s share of overall sales rose further to 26.3 percent (previous year: 24.4 percent). America remained slightly below the level of the previous year, while the share in TRUMPF Group overall sales there decreased from 19.3 percent to 18.0 percent. Europe (not including Germany) increased its over-all sales share sharply to 34.3 percent (previous year 30.7 percent), whereby Western Europe, already at a high level, experienced a further jump in sales. With a declining share in sales of 20.9 percent (previous year 25.0 percent), the home market of Germany is still our largest single market.

Heterogeneous picture in Europe and America

The countries of Central and Eastern Europe increased sales by 10.8 percent to €273 million (previous year €246 million). The highest sales were achieved in the Czech Republic, Poland, and Hungary. Russia, in fourth place, was forced to accept sharp declines in sales due to the sanc-tions. In Western Europe (not including Germany), we succeeded in increasing sales by 20.2 per-cent to €659 million (previous year: €548 million). The Netherlands was especially dynamic here: EUV business enabled us to more than double our sales, from a level that was already high. Italy, Great Britain and Austria all developed well, too. Our Spanish subsidiary, which also assumed sales and service activities for Portugal with a local support base, increased its sales as well.

In the French market we registered what at first glance would appear to be a drop in revenues, but this was offset by the sale of a French subsidiary that was part of the Medical Technology division. Adjusted for this effect, our sales in France grew by 9.5 percent. There was a further seemingly negative result in Germany, where sales fell by 12.0 percent to €568 million (previous year: €646 million). This decline was also due to the sale of the Medical Technology division, and was further affected by the fact that our EUV business is now based in the Netherlands, no longer Germany. When adjustments are made for these effects, sales in Germany rose by 5.5 percent.


In America, the situation was mixed. Sales of the TRUMPF Group as a whole on the American continent fell slightly by 2.2 percent to €488 million (previous year: €499 million). In North America, we again succeeded in remaining at a high level with sales growth of 5.3 percent to €420 million (previous year: €399 million).

Here, too, the picture was distorted by changes in the operation of our EUV business. With adjustments made for the EUV influence, TRUMPF achieved sales growth in North America of 17.3 percent. In contrast, the market development in South America was weak. Because of the recession in Brazil we were forced to register a drop in sales of 41.1 percent to €43.8 million (previous year: €74.3 million). In the Asia-Pacific region we again managed to secure strong growth during the year under review. Sales rose by 13.2 percent to €714 million (previous year: €631 million), and by 16.9 per-cent in the Chinese market alone. China has just overtaken the USA for the first time, and is now our second-largest single market after Germany. In Japan we improved over the previous year’s sales by 16.4 percent, primarily as a result of the Japanese government’s latest subsidy programs for energy-efficient production systems. Sales were also increased in Korea, Taiwan, and India.

Order intake above level of previous year

The order intake was above the previous year’s level and also above consolidated sales. At €2.82 billion, it was significantly higher than the previous year’s value of €2.70 billion, reflect-ing an increase of 4.3 percent. Orders on hand at the start of the fiscal year increased slightly by 0.7 percent to €804 million (previous year: €799 million). The forward order book thus amounted to 3.2 months (previous year: 3.5 months). The higher order intake and the level of orders on hand were also influenced by the sale of the Medical Technology division. With adjustments made for this effect, the order intake registered an increase of 11.7 percent, and orders on hand rose by 13.0 percent.

Last year’s Group Management Report predicted moderate sales growth, together with an order intake higher than sales. Both forecasts were correct. The regional sales distribution also corre-sponds to expectations, with an especially sharp increase in Western Europe, followed by East-ern Europe and Asia-Pacific. We also increased the return on sales successfully, in keeping with predictions.

Graphic 04

+ 4.3%Growth in order intake:

04Graphic

>

Adjusted for the effect of the Medical Technology sale, the order intake rose by 11.7 percent.

Order intakein € millions

2,702

10/11 14/1511/12 12/13 13/14

2,2192,348 2,330

2,818


Results of operations, net assets and financial position

Results of operations: Significant increase in profits

During the 2014/15 fiscal year, TRUMPF managed to achieve a significant increase in profits. Income before taxes rose by 43.8 percent to €357 million (previous year: €248 million). This corresponds to a return on sales of 13.1 percent (previous year: 9.6 percent).

This sharp growth is also partially due to a one-time effect arising from the sale of the Medical Technology division, which improved the result by €72 million. When adjustments are made for this effect, there is still a clear improvement in the return on sales from 9.6 to 10.5 percent.

The reasons for this are our margin improvement programs, such as Group-wide optimization of purchasing, the yield improvement program throughout the Group, and the optimized product mix. These were, however, countered by negative effects, such as the sharp rise in value of the Swiss franc when the Swiss National Bank decided to end its policy of intervention. This seriously diminished the competitiveness of the TRUMPF production companies in Switzerland.

Overall performance increased by 3.6 percent to €2.75 billion (previous year: 2.66 billion), primar-ily as a result of the development in sales, and in spite of a lower build-up of inventories of finished and semifinished goods relative to the previous year. Expenses for materials and services fell by 3.0 percent to €1.19 billion (previous year: €1.23 billion). In terms of overall performance the material expenditure quota, improved sharply to 43.3 percent (previous year: 46.2 percent). This was due to the sale of the Medical Technology division, currency-related effects, and also a posi-tive development in material costs resulting from purchasing and development successes.

Other operating profits rose by 50.9 percent to €133 million (previous year: €88 million). This was mainly due to the doubling of exchange-rate gains to €84 million (previous year: €41 million).

Personnel expenses increased during the year under review by 9.7 percent to €793 million (previous year: €723 million). This development can be traced to employee wage and bonus increases, to higher pension reserves and retirement plan costs, and to exchange-rate effects. Pension provisions rose as a result of the prolonged low interest rate and the accompanying change in the discount factor. Our share of expenses for personnel amounted to 28.8 percent (previous year: 27.2 percent).

Graphic 05

05Graphic

>

In the 2014/15 fiscal year, TRUMPF showed a clear profit surge. Income before taxes rose by 43.8 percent.

Income before taxesin € millions

248

10/11 14/1511/12 12/13 13/14

+ 13.1%Return on sales 2014/15:

185

211

154

357


Other operating expenses rose by 15.1 percent to €488 million (previous year: €424 million). This resulted from sharply higher exchange-rate losses – due especially to revaluation of the Swiss franc against the euro – as well as from higher additions to provisions.

The financial and investment result of –€17 million (previous year: –€18 million) derived primarily from interest income and expenditure. The extraordinary result amounting to €72 million reflects the special effect arising from separation of the Medical Technology division.

Tax expenses during the 2014/15 fiscal year amounted to €86 million. Taxes on income and earnings amounted to €77 million (previous year: €46 million), and other taxes to €9 million (previous year: €9 million).

Effective income taxes during the year under review were at €81 million (previous year: €50 million). This contrasts with deferred taxes of €4 million (previous year: €4 million). They resulted in a total of €1 million (previous year: €1 million) from differing recognition and valuation principles between the commercial and the tax balance sheet and a total of €3 million (previous year: €3 million) from consolidation measures.

The Group net income amounted to €271 million (previous year: €193 million).

Net assets and financial position: Considerably higher balance sheet total

The balance sheet total increased by 18.4 percent to €2.71 billion (previous year: €2.29 billion) in the year under review.

Fixed assets rose to €951 million (previous year: €902 million) – this corresponds to an increase of 5.4 percent.

The growth in intangible assets is due to first-time consolidations and corporate acquisitions made during the fiscal year. The increases on the tangible assets side resulted mainly from investment projects in construction as well as technological systems and machinery, above all in Ditzingen (Germany), Linz (Austria), Cranbury (USA), and Grüsch and Baar (Switzerland).

Graphic 06

Deferred tax liabilities

Liabilities

Accruals

Special reserves

Equity

Equity and liabilitiesAssets

0.7%

34.3%

18.1%

0.4%

46.6%

0.7%

29.7%

18.2%

0.3%

51.1%

06Graphic

>

The balance sheet total rose by 18.4 percent during the year under review.

Balance sheet structurein percent and € millions

2,7092,70913/14 14/1514/15 13/142,287 2,287Total

35.1%39.4%

64.9%60.6%Current assets

Fixed assets


Current assets including prepaid expenses increased by 26.9 percent to €1.76 billion (previous year: €1.39 billion). Exchange-rate effects played a significant role in the increase. Securities and cash increased overall by 170.1 percent to €490 million (previous year: €181 million). Inventories increased by 7.7 percent to €591 million (previous year: €548 million) – a development that can largely be ascribed to exchange-rate fluctuations. Receivables and other assets also increased, by 3.6 percent to €651 million (previous year: €629 million). This increase resulted primarily from short-term securities to the value of €37 million, representing other assets. The receivables turn-over rose to 5.0 (previous year: 4.6).

Cash and cash equivalents rose, primarily because of the cash inflow from the sale of the Medical Technology division and as a result of operations, by 131.5 percent to €475 million ( previous year: €205 million).

Equity rose by 29.9 percent to €1.38 billion (previous year: €1.07 billion). The equity ratio increased to 51.1 percent (previous year: 46.6 percent). The economic equity ratio including long-term shareholder loans also rose to 60.6 percent (previous year: 58.0 percent).

Accruals rose by 19.3 percent to €494 million (previous year: €414 million). The increase here was primarily due to higher pension and other personnel-related provisions, and to higher sales-related accruals from customer relationships.

Liabilities increased by 2.7 percent to €762 million (previous year: €741 million). Liabilities to managing partners rose by €19 million to €332 million (previous year: €313 million). Trade pay-ables grew by 10.7 percent to €148 million (previous year: €134 million). This can be traced back primarily to valuation effects from foreign currencies as well as a higher procurement vol-ume. The increase in other liabilities of 5.8 percent to €108 million (previous year: €102 million) is connected to the start of deposit banking by TRUMPF Financial Services GmbH during the year under review.


Securing the Future

During the period under review, the TRUMPF Group continued to invest significantly in acquisi-tions, tangible assets, and research and development activities. The overall share in future invest-ments amounted to 14.5 percent of sales (previous year: 14.2 percent). At 4.8 percent, the investment ratio of fixed assets was at the level of the previous year.

Investments and acquisitions

Higher investments

During the 2014/15 fiscal year, investments in tangible and intangible assets rose by 3.7 percent to €129 million (previous year: €125 million). The TRUMPF Group funded 24.3 percent of the entire investment sum in real estate and construction expansion projects. Plant and machinery accounted for a further 23.7 percent. 26.5 percent went into office and business equipment and 25.5 percent into intangible assets.

A total of 42.5 percent of the investments were in Germany. The focus here was on construction projects at our headquarters in Ditzingen, and also at our site in Neukirch. 39.8 percent of investments were made elsewhere in Europe, especially in the acquisition of the development and production facilities of the laser manufacturer JK Lasers in Great Britain, and in the expansion of our bending competence center in Linz (Austria). 13.9 percent of investments were made in America – especially in our diode plant in Princeton, NJ – and 3.8 percent in Asia.

The amount invested in tangible and intangible assets remained at a similar level to depreciation and amortization, which totaled €109 million during the year under review (previous year: €103 million). The increase was largely due to corporate acquisitions, as well as to the high level of investment in past fiscal years.

Synergies through acquisitions

Our fixed assets increased by €33 million as a result of acquisitions and first-time consolidations (previous year: €109 million). This was essentially due to additions to intangible assets including goodwill. The most important acquisitions during the year under review were made in, for example, Hungary, Germany and Great Britain.

Graphic 07

07Graphic> Investments

in € millions

61

153

136125

10/11 14/1511/12 12/13 13/14

129

A total of 42.5 percent of the investments were in Germany, 39.8 percent were made else-where in Europe.

+ 3.7%Increase in investments:


During the first quarter of the 2014/15 fiscal year we strengthened our presence in Hungary by purchasing the business of our representative until that time, Lasersystems Kft. Because of this merger, two of our business divisions – Machine Tools and Laser Technology – are now represented in Hungary. We continue to operate Lasersystems Kft. there as the laser technology division of TRUMPF Hungary Kft. In September 2014, as part of the takeover, we also acquired the Lasersystems Kft. business in Romania and Bulgaria and transferred it to newly-founded subsidiaries.

In August 2014, we acquired a 51-percent share in the software company India Metamation Software Pvt. Ltd. An important partner in our software strategy for Industry 4.0, the company is located in Chennai, Southeast India. The takeover also provides an indirect participation in the company’s US subsidiary Metamation Inc. in Reno, Nevada.

In October 2014, we purchased an 80-percent interest in our agency KOZ Makina Sanayi ve Dıs Ticaret A.S . in Istanbul. The company continues to be responsible for TRUMPF lasers and machine tools sales in Turkey.

At the end of January 2015, we acquired a 100-percent stake in one of the oldest industrial enterprises in Germany: the EHT Werkzeugmaschinen GmbH in Teningen. Founded in 1771, the Eisen und Hammerwerke Teningen (EHT) manufactures bending machines and plate shears. EHT has special expertise for bending machines with a press force of more than 400 tons, along with press brakes for special applications.

In mid-April 2015 the laser company SPI Lasers UK Ltd., a member of the TRUMPF Group based in Southampton, Great Britain, acquired the laser manufacturer JK Lasers, headquartered in Rugby, Great Britain. In terms of expertise and product focus, the two companies complement each other well – we expect the acquisition to accelerate our progress on the fiber laser roadmap considerably. The core competence at JK Lasers is fiber lasers with outputs from 100 watts to four kilowatts, as well as combiners for laser sources and other beam delivery components. Manufacturers of machines for laser applications and for additive manufacturing methods are among the company’s most important target groups.


Research and development

TRUMPF is a company with great innovative strength. As a high-tech provider, our mission is to detect trends and to anticipate the future for our customers. We continually develop new solu-tions in the hardware and software sector, in order to increase our customers’ productivity and competitiveness.

We further increased our expenditure on research and development in fiscal 2014/15. It rose by 8.9 percent to €265 million (previous year: €243 million). The development ratio in relation to sales rose to 9.8 percent (previous year: 9.4 percent). The number of employees working in research and development on the closing date rose by 3.7 percent to 1,587 (previous year: 1,530). This means that 14.6 percent of our employees (previous year: 14.0 percent) are working on the products and ideas of tomorrow.

The main focus of research and development at TRUMPF is on the fields of production and fabrica-tion technology, photonics, laser technology and its areas of application, beam sources, materials processing, and the software solutions of the future. We can frequently offer our customers different and sometimes rival methods to solve their requirements, and we find the most suitable solution through targeted, individual consulting.

New corporate department for research and development

During the year under review we consolidated overlapping tasks within a new Research and Development corporate department. Innovation management, development strategies and meth-ods, and central development targets can be coordinated and rolled out independent of sector or site. To secure our innovation leadership position over the long term we also actively monitor disruptive technological developments in the market from our new centralized research and development department. Under the new structure, the international development sites of the TRUMPF Group receive efficient support for their projects allowing them to work together in close proximity to the customer, in an integrated, future-oriented manner.

Agile development methods for maximum possible transparency

Development tasks in mechanical engineering have now become immensely complex and require a combination of numerous experts and disciplines, all working together. To manage this complexity we apply agile development methods, and subdivide projects into transparent time

Graphic 08

Graphic 09

08Graphic

>

The development ratio in relation to sales rose to 9.8 percent.

Research and developmentin € millions

243

+ 8.9%R&D expenditure:

158

193

211

10/11 14/1511/12 12/13 13/14

265


periods. At the end of each stage we synchronize all involved departments and make short-cycle based joint decisions about how the projects will continue, affording maximum transparency.

The development departments in the Machine Tools division work on diverse far-reaching future projects, ranging from new machine concepts and collaborative robots to a control architecture for Industry 4.0.

Cloud-based platforms for process optimization in production

The most important development project in connection with Industry 4.0 is the business platform “AXOOM.” This cloud-based solution is aimed at synchronizing and simplifying the process steps within a manufacturing company. The plan is to make the open platform available to all manu-facturing companies, their suppliers and other service providers; with its thoroughness and transparency, it will take the companies’ overall productivity to a new level.

AXOOM will be operated and developed by a TRUMPF subsidiary. For this, and for the numerous other projects connected with Industry 4.0, we hired more software developers than ever before during the year under review. With new recruiting models, and our presence at trade shows like the CeBIT, we are striving to make the mechanical engineering company TRUMPF more attrac-tive for software developers.

For the efficient implementation of Industry 4.0, the modular principle we have introduced is also an important basis for being able to work with the same solutions where sensors, software and electronics in differing machine types are concerned. Today, this modular approach enables development to react even more rapidly to new market developments than it did in the past, and to place innovations in the entire product family without adaptation costs.

Cost management improved

During the year under review we also paid close attention to the topic of cost engineering. The key questions here are: How can we utilize expertise to achieve optimal manufacturing costs for a product or a service offering? And what are the possible approaches to savings from the value analysis point of view? The overriding objective here is to think far more clearly in cost terms where our development projects are concerned, and to systematically anchor the topic of cost management to our development process.

09Graphic>

At the end of the year under review, 14.6 percent of employees in the TRUMPF Group were working on the products and ideas of tomorrow.

Employees in research and development

1,157

1,3521,430

+ 3.7%Personnel increase R&D:

10/11 14/1511/12 12/13 13/14

1,5871,530


Laser welding in sheet metal fabrication is a new aspect of machine tool development, and has been a part of the Laser Technology division. We intend to make laser welding an integral com-ponent in our machine tool customers’ processing chains.

During the year under review, we had more world premieres and innovations along the entire sheet metal processing chain than ever before. In addition to pioneering software for design and programming we also successfully presented innovations in almost all product sectors, from laser cutting and laser welding to punching and bending. These included the new generation of the TruBend Series 5000 as well as the semiautomatic bending center TruBend Center – an entirely new member of the TRUMPF bending family.

Microprocessing with new solutions and applications

There is a special focus in laser technology on micro processing, using picosecond and femtosecond lasers. Here, we are expanding our TruMicro Series product portfolio with new beam sources and equipping them with new optics. These laser applications include the cutting of touchscreen surface layers and flexible displays, or the welding of rechargeable batteries and metal housings.

Energy efficiency and ‘green production’ are equally important slogans for our customers and for us. The very latest generation of our TruDiode lasers is exceptionally energy-efficient – with a degree of efficiency of up to 40 percent. With direct diode lasers, the laser radiation from the diodes is bundled into a beam using optical elements, creating a very compact beam source. For welding, soldering and surface applications up to six kilowatts, TRUMPF achieves excellent results with its TruDiode lasers.

TRUMPF developers are also devoting special attention to process sensor technology – because reliable sensor systems are key to ensuring stable, robust and repeatable processes during laser welding.

Two methods for the additive manufacturing of metallic components

In the additive manufacturing sector, TRUMPF is the only company to offer both established methods for the industrial additive manufacturing of metallic components: Laser Metal Fusion (LMF) and Laser Metal Deposition (LMD). While LMF enables the creation of extremely


filigreed components, LMD is a more suitable solution for larger, rougher structures. In both areas, new products are about to be introduced to the market. Development is focused on complete industrial solutions for mass production. To complement our own development activi-ties, our joint venture with the Italian company Sisma S.p.A. is also working intensively on new products.

Further performance increase with EUV systems

Our development activities have been extensive with regard to EUV lithography – the key technology for manufacturing next-generation microchips. Our main contribution here is the TRUMPF laser amplifier. This system consists of CO2 lasers switched in series, driving a plasma source to generate extreme ultraviolet light with a wavelength of 13.5 nanometers that is required for EUV lithography.

The main goal of development here is to further increase the performance of the EUV source, because 250 watts of EUV power are needed for the technology to be profitable and productive. This is why we are working on the next generation, which, with a completely newly-developed seed unit and even higher amplification power, delivers both the required EUV power and the necessary system availability. Currently, the TRUMPF development teams have almost achieved their objective, and in the 2015/16 fiscal year TRUMPF will begin delivering the first mass- produced 250 watt EUV systems.

Innovative power storage solutions

In the Electronics business field, in addition to numerous other development activities, we are also working on an entirely new product: flow batteries. These are bidirectional charge inverters for charging and discharging large batteries in the megawatt-hour range, and with them we are breaking into a new market segment. As part of a successful joint development project with the Fraunhofer Institute for Solar Energy Systems ISE, a marketable product was created, and during the year under review, we successfully presented it at a trade show for the first time. The system sets standards for flow battery operation in the kilowatt and megawatt range and is an important contribution toward solving the issue of how to store electrical energy.


Employees

Personnel figures at previous year’s level

As compared to the previous year, the overall number of employees in the TRUMPF Group barely changed as of June 30: the 10,873 employees in 2015 contrasted with 10,914 in 2014. While the previous year’s figure still contains 731 employees from the Medical Technology division, the figure for June 30, 2015 shows the personnel figures after the division was sold.

TRUMPF’s headcount increased primarily through acquisitions, such as the machine tool com-pany EHT in Germany or the laser manufacturer JK Lasers in Great Britain. When adjustments are made for these acquisitions and for the sale of the Medical Technology division, 421 new employees came to the TRUMPF Group, equivalent to an increase of 4.1 percent.

In Germany, the TRUMPF Group had 5,413 employees on the closing date (previous year: 5,599) – 3.3 percent fewer than in the previous year. Outside Germany, the number of employees increased by 2.7 percent to 5,460 (previous year: 5,315) – so, for the first time, we have more employees abroad than we have in Germany. For the current fiscal year we are planning to increase the number of jobs further in step with the economic development – also in Germany.

Developing junior employees at our own company is of great importance to TRUMPF. During the year under review we trained 487 young people as skilled workers, engineers and business administrators. During the previous year the figure was 525 apprentices and students. The training quota in the Group was 4.6 percent (previous year: 5.1 percent). The decrease was largely due to the sale of the Medical Division, where a large number of trainees were employed.

Positive results for Company Work Alliance 2016

Since 2011, in order to be an attractive employer to our staff and consider their individual needs, we have offered a life-phase-oriented worktime model as part of our Company Work Alliance. The current alliance enables all employees at the German sites to deviate from their contractual work schedules in an alternating two-year rhythm, and adapt their schedules to their individual life phases. As of June 30, a total of 756 employees had taken advantage of this offer, whereby 65.5 percent increased their worktime and 34.5 percent decreased it. Participation has increased sharply as compared to 2012, when worktime options were introduced, and is now at 15.3 percent.

Graphic 10

10Graphic>

Not including acquisitions and the sale of Medical Technology, the number of employees increased by 4.1 percent.

Employees

8,546

9,5559,925

10,914

10/11 14/1511/12 12/13 13/14

Personnel development:

– 0.4%

10,873


In addition to offering the option of modifying work schedules, the Company Work Alliance also features several different choices for scheduling free time. The option of taking a sabbatical lasting up to two years complements classical offers such as vacation time and flexible work hours. Employees can also bank up to 1,000 hours of their regular worktime into a so-called ‘family and further education account,’ using them for blocks of free time lasting from six weeks up to six months, or to finance reduced worktime. As of June 30, a total of 247 employees were benefiting from this option. Preparations are now under way for a new work alliance due to start in 2016, which will offer additional choices.

Processes and organization

In the past fiscal year we established our new management structure, effective July 1, 2014. The aim of the restructuring was to make management at TRUMPF more efficient, effective, and transparent.

One goal here was to unburden Group Management. Each division is now headed by only one group manager. Regional responsibility, i.e. disciplinary authority for the majority of the sales and service subsidiaries, is now assigned to one group manager.

Strengthening the corporate functions

Another important goal was to strengthen the divisions and central functions. The existing corporate departments – Real Estate, Purchasing, Financial Services, Finance, IT and Processes, Brand Management and Marketing Communication, Personnel, Quality and Process Management, Legal Affairs and M+A, as well as Corporate Communication and Politics – were all clearly structured and realigned. We also created several new corporate departments: Research and Development, Sustainable Development and Security, Production, Corporate Development, and Sales and Services.

Responsibility for each function, as well as for its Group-wide development – especially in mat-ters of functional strategy and operational excellence – is now anchored in one corporate depart-ment. In this way we can ensure that the same standards apply and are observed throughout the entire TRUMPF Group. The corporate department for Real Estate, for instance, is in charge of planning and construction standards across the Group. During the year under review, the corpo-rate department Personnel rolled out international employee satisfaction surveys.


Standardized processes

The Sales and Services corporate department is responsible for the standardization of sales processes. The large-scale project ‘EaSi Sales’ (Easy and Simplified Sales Processes) ensures a standardized, consistent sales process from the first customer contact to order dispatching in production. With a new approach to CRM, we guarantee even better worldwide coordination between customer contacts. State-of-the-art training concepts help sales staff to address specific customer needs and give them an overview of the steadily increasing number of technologies and Industry 4.0 solutions.

Optimized business processes

As a result of optimized business processes, our corporate department IT and Processes also contributed toward more efficient international cooperation. Two companies were newly included in the ERP alliance. IT expanded its support of existing processes and, because of a newly reworked authorization concept, also made them more secure. Innovative technologies made it possible to offer new functions: For service representatives, for instance, a special search engine was introduced that operates using algorithms from natural speech processing. This has enabled our service representatives inside and outside the company to search through millions of documents within a matter of seconds, to fall back on existing solution scenarios, and provide customers with even faster and more competent support.

Sustainable development and security

In our new corporate department Sustainable Development and Security, all security tasks are the responsibility of the Group Safety and Security Officer. This includes work safety and infor-mation security, two areas where we have prioritized creating standards with Group-wide validity.

Furthermore, this department will be responsible for and focus on energy and resource efficiency, driving it together with the divisions. Finally, it is accountable for sustainability reporting of the TRUMPF Group. As part of this, data management is being established which will help to assess and steer the ‘sustainability performance’ of TRUMPF even more effectively in the future.

Energy efficiency is one aspect of this. For many years TRUMPF has worked steadily on the energy and energy cost management of its infrastructure, one example being the appropriate planning of new buildings and the optimization of existing structures and production processes.


It is also our mission to ensure that each TRUMPF machine is more energy-efficient than its pre-decessor. We offer our customers production methods with an efficient overall eco-balance, and provide them with construction, process and application expertise in order to save on material, energy and time.

Production

Our worldwide production plants registered balanced capacity utilization during the 2014/15 fiscal year. We succeeded in keeping delivery times short on a constant basis. They are very low in relation to the industry average.

New corporate department Production

We also created a new corporate department for Production during the year under review, with cross-divisional responsibility for all our production sites worldwide. A key topic here is SYNCHRO, the lean production system specially developed by TRUMPF. Here, the corporate department utilizes individual process consulting to support the sites within the TRUMPF global production alliance, and is the first contact for the plants whenever management targets need to be translated into operational measures. At the same time it is driving the establishment of an academy for training our production staff and employees. Lastly and importantly, it organizes and coordinates consulting activities for customers and suppliers.

A further central task is production strategy. This not only involves investment decisions and product and site targets, but also innovation and risk management within the global production alliance. Appropriate processes provide a large degree of transparency here. The corporate depart-ment is now also tasked with planning and controlling the global supply chain for production.

Group-wide productivity management established

Performance management and especially productivity management are of particular importance at TRUMPF. We actively pursued these from the start of the year under review. As a result, every plant right down to the smallest organizational unit is capable, on a daily basis, of measuring productivity at the touch of a button. This enables close-knit capacity management and this ini-tiative brought us a sharp increase in our productivity during the year under review.


At the beginning of each fiscal year, in order to make this kind of success sustainable, the plants define detailed plans for measures to achieve the productivity targets set by management. This helps with the continuous improvement process and is in keeping with the concept of SYNCHRO plus. Shop-floor management contains daily goal-achievement tests aimed both at failure-free operation and specific savings measures. This principle, which works with precise and measur-able targets updated on a daily basis, is now firmly anchored in the TRUMPF production world and has contributed decisively to further improvement of our throughput times in component and machine assembly worldwide.

New buildings – also for EUV technology

In addition to these broad measures, we also carried out important innovations at individual sites. During the year under review we successfully opened our new production and development departments at the bending competence center in Linz, Austria. Production there now features state-of-the-art flow assembly for latest-generation bending machines, as well as a laser hybrid welding plant for machine frames. A large-component milling machine for bending-machine frames has also been installed in the new section of the plant, and enables up to 30 percent shorter processing times than in the past.

To be prepared for the mass production we are planning as part of EUV technology, construc-tion work on new buildings is currently under way at the company’s headquarters in Ditzingen covering an overall surface area of almost 34,000 square meters. A multi-story hall will contain production space and clean rooms, as well as testing and commissioning areas. The new build-ing will be utilized primarily by the subsidiary TRUMPF Laser Systems for Semiconductor Man-ufacturing GmbH. Founded at the end of 2014, it is exclusively responsible for manufacturing and developing the so-called TRUMPF laser amplifier and its associated components.

Intensive cooperation with JFY

Cooperation with the Jiangsu Jinfangyuan CNC Machine Company Ltd. (JFY) has progressed well. The company continues to exist as an independent brand within the TRUMPF Group, but is tied to TRUMPF by intensive cooperation projects. JFY delivers machine frames to TRUMPF in China and, during the year under review, worked intensively on the optimization of product


processes with the help of SYNCHRO measures. Parallel to process support, TRUMPF also supplied JFY with its own solid-state lasers, which are currently being used in the most current version of laser cutting centers there. During the year under review, TRUMPF’s own production subsidiary in China ensured that all TRUMPF machine technologies are manufactured directly on-site for Chinese customers.

Procurement

The 2014/15 fiscal year was characterized by a balanced procurement situation, with hardly any capacity difficulties, demand fluctuations or problems in the raw material markets. Neverthe-less, exchange rates did have an effect on procurement performance. The revaluation of the Swiss franc against the euro, in particular, put high pressure on the TRUMPF production companies in Switzerland; they work together with numerous local suppliers, but the majority of sales are in euros.

Corporate department Purchasing established

As part of the major ‘Purchasing Excellence’ project, we established a new procurement concept for the TRUMPF Group during the year under review. The newly-created corporate department Purchasing supports management and the sites with the development of their purchasing orga-nization, cross-site operation, process improvement and system expansion. During the year under review, for instance, numerous commodity groups for production material and non- production material were handled methodically. We also introduced a cross-site, standardized KPI system.

Restructuring of non-production material purchasing

The purchasing process for non-production material was restructured during the past fiscal year. Purchasing is now responsible for the procurement of indirect requirements across the entire TRUMPF Group. As part of the introduction of commodity-group management, we intensified and improved cooperation across departments and sites. Numerous measures, including volume bundling and standardization, enabled us to greatly improve throughput times in order processing.


Connecting purchasing and development

Our suppliers’ expertise also contributes to our technological edge. Our strategic suppliers are integrated into the cost incurrence phase very early on, in order to successfully implement our modular concept in the Machine Tools division aimed at reducing complexity within the indi-vidual product lines. To always find the best solutions, we have intensified cooperation between purchasing and development. Production material purchasing has established a project buyer structure. A shared technology and commodity-group management is developing global strate-gies for all relevant commodity groups, thus facilitating cooperation across technologies, sites and functions.

In general, purchasing costs in the 2014/15 fiscal year were further reduced through broader measures, as well as cost-optimization workshops implemented together with suppliers. We also achieved continuous quality improvements within the supplier network.

Opportunities and Risks

Risk management

As a leading global technology company, TRUMPF is exposed to a multitude of risks. To respond appropriately, we have a sophisticated risk management system in place. A central Risk Manager insures that risks in all areas are regularly identified, evaluated and controlled on a standard basis, and that any relationships between the risks are identified. The results are regularly pre-sented to management and the supervisory board. Our corporate department for Corporate Development defines the potential for strategic development. Centrally controlled innovation management, as well as responsibility for sectors and product group organization in the indi-vidual business fields, also helps to identify entrepreneurial opportunities and risks.

The Group’s managing board, heads of business divisions and central corporate departments regularly analyze and assess risks using financial figures. These are recorded each month by the Group Information System (GIS) for all divisions, subsidiaries and production facilities. A daily report supplements the GIS. Furthermore, monthly and quarterly reports provide information on the results of operations, net assets and financial position.


For risk assessment purposes, our company planning includes analyzing alternative scenarios of possible trends within the TRUMPF Group. A liquidity reporting system allows us to obtain a largely automated, daily company liquidity report. An interest-rate and currency committee meets monthly to manage and control cash flow, currency and interest-rate risks at the Group level. In addition, market and competitor analyses increase risk transparency.

Market risks

In both sales and procurement, various risks must be considered. To minimize them on the pro-curement side, we have a comprehensive supplier management system in place, further refined by selecting and evaluating strategic suppliers and by means of a strict supplier acceptance process. Continuously monitoring supply quality and reliability allows us to derive suitable quality assur-ance and supplier development measures depending on individual situations.

We can guarantee our basic supply by third parties through an extensive dual sourcing system. We rely on single sourcing for some key components. We are in constant contact with these man-ufacturers in order to guarantee that deliveries are punctual and flawless, and drive joint devel-opments. For suppliers who deliver core components, there are de-escalation processes and fail-safe strategies that include on-site supplier premise audits.

As far as sales possibilities are concerned, we rely on moderate growth in the global economy. According to the IMF (International Monetary Fund), the industrialized nations should continue to recover in 2015, while emerging countries will display weaker growth. This is due, in particular, to the moderate outlook for the larger emerging countries, and oil-exporting countries.

The global finance system remains a risk. Growth in the industrial nations is contingent on expansive monetary policy to a large extent. Geopolitical risks continue to exist, and their macroeconomic effects need careful monitoring.


Opportunities in sales financing

To provide our customers with access to funding for new means of production, we founded our own bank in February 2014. Alongside our leasing and lease-purchase financing offers so far, we can now grant loans and supply funding. Furthermore, the EU passport has granted us unlimited access to the markets of Europe. During the year under review, we took advantage of this oppor-tunity to act as a bank in five additional countries (Denmark, the Netherlands, Great Britain, Ireland, and Spain). In the current fiscal year we will be extending our activities to include other countries such as Belgium and Italy. Moreover, we are active worldwide with a second leasing company based in Switzerland, and are cooperating with longstanding partners in various countries.

During fiscal 2014/15, the TRUMPF Bank built up capacities in both the front and back office organizational units – and also promoted new offers. By intensifying risk management we also take increasing regulatory requirements into account. In this sector, the TRUMPF Bank is well-positioned, which is also reflected in the risk costs, sharply below the internally defined bench-mark during the year under review.

Since the start of 2015, we have offered deposit banking products like savings books and fixed deposit accounts for TRUMPF employees. Over 10 percent of German TRUMPF employees are depositing money in their company’s own bank. There is a special focus on the online sector: our IT solutions for the TRUMPF Bank are steadily optimized, in order to make the planning and conclusion of financing deals as convenient as possible for our customers.

Financial risks

The TRUMPF Group regularly maintains its liquidity through medium and long-term measures. We increased our liquidity reserves sharply in relation to the previous year. The liquid funds have been invested in the money market for the short term. When investing our liquidity reserves we distribute risk by allocating our investments across numerous financial institutions and instru-ments. Here, we work exclusively with banks that have good credit ratings.

In July 2015, we structured a revolving credit facility with our core banks. Through this, we secured a large part of our credit lines until 2022 at attractive rates.


Our liquidity reporting system enables us to generate daily reports on the liquidity of all our sub-sidiaries. Internal audits performed by Group Controlling create additional transparency with regard to our subsidiaries.

Currency-exchange and interest-rate risks constitute additional financial risks for us. Since the eurozone, with a 46.5-percent share of our sales, is our main sales market and we are partly able to offset foreign currency payments within the company through our global production alliance and worldwide purchasing, we view our exchange-rate risk as limited. Our ongoing currency-hedging activities are regulated and, for major currencies, occur centrally through the Group’s holding company. The Group’s treasury and insurance department and the currency committee are responsible for accounts and control. We were able to use the currently weaker euro for medium-term currency hedging.

Currency hedging for regulated markets is done directly by the subsidiaries in close cooperation with the company’s headquarters. This applies, for instance, to the Korean won, the Chinese renminbi and the Brazilian real.

Derivative financial instruments at TRUMPF are not used for speculation purposes but exclusively to hedge underlying business transactions. The hedging takes place within the TRUMPF Group companies to cover foreign-currency risks resulting from posted, pending and anticipated under-lying transactions. In accordance with the internally concluded futures and options trading and taking into consideration the net exposures, external hedging activities are transacted with banks with excellent credit ratings.

We systematically hedge against net exposures in the following currencies: US dollars, Japanese yen, British pounds, Swiss francs and Polish zlotys. To this end, we use standardized foreign currency hedging instruments such as forward exchange transactions and currency options. Other currencies are hedged against based on individual projects. A risk exists in the market price fluctuation of forward exchange transactions, but it is usually countered by contrary market values for the underlying transaction. In the eurozone, we concentrate our liquidity daily using a cash-pool system that ensures a Group-wide and transnational liquidity balance. We have a comparable system in place at our subsidiaries in China. A multilateral netting of accounts receiv-able and payable increases transparency, and facilitates the processing of internal payments.


Business opportunities

Well prepared for major orders in EUV lithography

EUV lithography for microchip production offers TRUMPF great business opportunities. The technology is currently in a decisive stage: the laboratory phase at our customer’s clients is draw-ing to an end, and preparations for mass production of the latest-generation chips are under way. With the positive lab results and the long-term major orders within the framework of production preparation, the participants have largely accepted the breakthrough of EUV technology and are no longer questioning it.

This is why we have begun construction work at TRUMPF in Ditzingen on our own development and production building for EUV technology. The new building will be utilized primarily by the subsidiary TRUMPF Laser Systems for Semiconductor Manufacturing GmbH, founded at the end of 2014, which is exclusively responsible for manufacturing and developing the so-called TRUMPF laser amplifier and its relevant components. In this way we are ideally positioned for the major orders we are expecting from the coming fiscal year onward.

At the end of May 2015, we also reached a strategic framework agreement with our customer in the EUV business. It provides for long-term cooperation and further expansion of the strategic partnership, in order to fulfill the requirements of the exclusive supply relationship and also the needs of the semiconductor industry. Foundation of the new subsidiary, signing of the frame-work agreement, and construction of new buildings providing suitable capacity all assure the EUV business for TRUMPF of a good future.

Robust machines in the additive manufacturing sector

The additive manufacturing of metallic components is a production method with great potential. Over the past few years its use has been largely limited to the production of individual proto-types, but now a mass-production market is opening up. An increasing number of manufacturers are analyzing and qualifying their components for additive manufacturing as a substitute for methods such as milling or molding.


TRUMPF is on the brink of introducing robust series production machines. The joint venture founded for this purpose in the 2013/14 fiscal year with the Italian laser and machine manufac-turer Sisma S.p.A., named TRUMPF Sisma S.r.l., has started successfully. Our own developmental activities in the additive manufacturing sector at the TRUMPF headquarters in Ditzingen are very well along. During the current fiscal year there will be numerous product presentations for additive-manufacturing applications.

Important target sectors include the automotive industry and aerospace. The method for small-batch production of various components has proven suitable for the automotive sector. In aero-space, there is great potential in turbine production, where the related technology of laser deposition welding using our products is already being employed for repair purposes. This method also has great potential, because it can be used for coating applications as well as the additive manufacture of entire workpieces.

Cloud-based business platform for manufacturing companies

We regard the developments around Industry 4.0 as a great opportunity and, as a result, have been actively helping to shape the connected production of the future for many years now. To do this, we participate in various working groups and projects, in order to contribute our experi-ence, expertise and ideas. Since 2011, for example, TRUMPF has been a member of the Industry 4.0 working group initiated by the German government and has played a key role in defining the smart factory of the future. For basic research, we have established a shared research laboratory at the Fraunhofer Institute for Production Technology and Automation IPA.

Our biggest project in this arena is AXOOM, an open, cloud-based business platform that helps manufacturing operations to optimize their entire company. AXOOM solves the problem of con-stantly increasing complexity in the manufacturing industry, i.e. in the sheet metal fabrication industry, where batch sizes are becoming ever smaller. Here the business process is observed in its entirety instead of from the perspective of the machines alone. As a result, customers can remove bottlenecks in their business processes, further increase their efficiency, and improve their productivity.


Due to its modular structure, AXOOM enables easy entry into and gradual expansion of the platform. This enables customers to gradually replace island solutions for individual process steps with one single start-to-finish solution. By integrating their own solutions, partners create more value-added along the business process, i.e. in material procurement and delivery, or in the processing of CAD drawings. Since the open platform will be available to all manufacturing operations, their suppliers and other service providers, it offers great business potential.

Other opportunities and risks

Active rights protection policy

With an active rights protection policy, we secure protection for TRUMPF developments. We sys-tematically test technological innovations for patent suitability, and apply for patents wherever we can. We submit design patents for new developments in design. Here, the focus is on core markets. Our active rights protection policy is enhanced by defensive publications of concepts and ideas that enrich the technological state of the art but can only be implemented by TRUMPF on a very small scale or not at all, or not by the company itself. Such contributions to the verifi-able technological state of the art help to enhance freedom of action for TRUMPF and its custom-ers in the long term.

We have identified the risks of business interruptions in production and taken protective mea-sures against them accordingly. We have examined and assessed critical production processes. Production downtimes can be avoided by increasing the flexibility of our production facilities or the short-term relocation of production. Measures also include extensive emergency scenarios.

Property and fire damage and operating downtimes, as well as operational and product liability risks are sufficiently covered by an international insurance policy and local coverage. Together with our insurance brokers we have analyzed and audited our production locations. In the past fiscal year we re-tendered our international insurance program and optimized it both in content and premium structure.


Monitoring and minimization of IT risks

We also keep a very close eye on IT risks. We constantly monitor our central Enterprise Resource Planning System (ERP) and continuously improve its security standards. We have continued with restructuring of the authorization system within the ERP system. The new authorizations are in accordance with a standardized principle and are based on our business processes. We continue to steadily optimize the security level of the remaining IT structure.

Low rate of fluctuation and compliance program

Our employee turnover rate is low – 3.8 percent in the Group and 2.2 percent in Germany. Demographic change and the lack of qualified staff in technological professions continue to present our Human Resources department with challenges. However, we place high priority on recruiting and securing the next generation of highly skilled workers. Our efforts also include long-term measures such as projects and school partnerships, i.e. as part of our “Knowledge Factory” initiative. Our flexible worktime model makes us a very attractive employer, especially in Germany.

TRUMPF has introduced a Group-wide compliance program. The code of conduct describes the expectations of the company and requires that, throughout their business dealings, all employees of the TRUMPF Group follow the law and adhere to ethical standards. It also establishes the basic rules that must be followed at TRUMPF.

Assessment of the company’s risk situation

There are no identifiable risks that could substantially endanger the continuity of the corporate Group. The risk management system practiced by the company enables risks to be detected in real time so that adequate countermeasures can be introduced. Activities focus on the manage-ment of financial risks and market risks, as well as on the identification of entrepreneurial and technological opportunities.


Subsequent events

After the end of the fiscal year under review we founded a company for the preparation and operation of cloud computing infrastructures, as well as for the development and marketing of applications for the utilization of such infrastructures. The new company, based in Karlsruhe and with a branch in Ditzingen, is called AXOOM GmbH and will be commencing business operations effective October 1, 2015.

Outlook

Global economic growth of more than 3 percent

In accordance with the established predictions for 2015, global economic growth will remain above the 3-percent mark. The IMF (International Monetary Fund) did revise its forecast down by 0.2 percentage points to 3.3 percent in July 2015, primarily because of a weak first quarter in North America – yet important economic drivers in the industrialized countries continue to have an effect. This is reflected in easy financing conditions, a low oil price, and fundamental trust in the market. The emerging countries, in contrast, continue to register a slowdown in growth caused by overcapacities, the new economic alignment of China, and uncertainties brought about by political crises.

For the industrial countries, the IMF is predicting economic growth of 2.1 percent. In the USA, economic performance in 2015 will increase by 2.5 percent and in 2016 by 3.0 percent. The eurozone continues to gain momentum, and growth there for 2015 is predicted to be 1.5 per-cent, followed by as much as 1.7 percent for 2016. For Japan the IMF is forecasting 0.8 percent growth for 2015 and 1.2 percent for 2016. Here, the increase in investment activity is playing a special role.


Growth in emerging countries is expected to decrease to 4.2 percent in 2015, though in 2016 it could pick up again to 4.7 percent. The IMF is expecting better conditions in Russia and in sev-eral Middle Eastern markets. For China, the IMF is predicting growth of 6.8 percent for 2015 and 6.3 percent for 2016. Although these forecasts appear high in a global comparison, they are far lower than in the past. The reason is the necessary structural reforms in many areas.

Production and export increases for machine tools

According to joint forecasts by the VDW (German Machine Tool Builders’ Association) and Oxford Economics, companies in the German machine tool industry can expect production growth of 3.0 percent in 2015, together with a 4.0-percent increase in exports. The impetus nec-essary for this is expected to set in during the second half of the year in particular. A sharp increase in orders of 7.0 percent is predicted for Europe. A decrease of 3.0 percent is likely for America. Asia is still on course for growth, with a plus of 8.0 percent.

Good growth opportunities for the German laser industry

With regard to worldwide sales of lasers and laser systems for material processing, Optech Con-sulting is assuming average annual growth rates in the upper single-digit range until the year 2020. The predictions assume values at double the level of global economic growth. A worldwide market volume for laser systems of almost €10 billion is being predicted for 2015.

With its sustained high innovation potential, its participation in promising future technology sectors, and its efficient economic infrastructure, the German laser industry will continue to play an important role in the dynamic world market.


TRUMPF is growing in all regions

The TRUMPF Group is largely optimistic for the 2015/16 fiscal year. Despite the Greek crisis, Europe is still on a good course and will continue to grow. We are assuming that business in Germany will regain momentum. The situation in Russia remains uncertain: the sanctions are directly impacting business for our Russian subsidiary, and the medium-term effects cannot be fully known at this time.

America is still on a stable course for growth, albeit at a lower level than in previous years. For the fiscal year 2015/16 we are again expecting clear increases. Although growth in China has lost its momentum and a certain degree of insecurity has been detected where investment goods are concerned, the Chinese market has still developed positively for us, and we are anticipating continued growth there. We are also expecting sales increases in the rest of Asia.

Against this backdrop, we are planning single-digit percentage sales growth for the TRUMPF Group during the 2015/16 fiscal year. Here, we are assuming that our order intake will exceed sales. All industrialized regions will contribute to this growth, and especially America and Asia. Western and Eastern Europe will grow in single percentage figures. At the same time we are planning a sharp improvement in results of ordinary business activities as well as a further increase in our return on sales.

Growth strategy for the divisions

During the year under review, we devised and implemented a comprehensive growth strategy in the Machine Tools division. Here we identified ten growth sectors we intend to expand over-propor-tionally in the years to come. These include, for instance, laser welding in sheet metal fabrication, pipe processing, automation, and digital connectivity, as exemplified by Industry 4.0. TruConnect initiatives and the new cloud-based industry platform AXOOM will, even during the current fiscal year, be attracting many established as well as new customers to the offers available from


Industry 4.0. They will open up new market potential for TRUMPF. The introduction of further innovative business models and new machine concepts also allow us to look forward to the com-ing fiscal year with optimism. There is, however, considerable uncertainty as to economic devel-opments in the cyclical machine tool sector, and not only in Russia or China.

The Laser Technology business field should again experience sharp growth. During the 2015/16 fiscal year we are expecting major orders in the area of cutting of hardened glass displays for smartphones for the Machine Tools division. The use of UV lasers in the manufacture of flexible flatscreens will also increase. The market has recently been showing great interest once again in the processing of carbon-fiber-reinforced plastic with the laser. We are very well positioned here indeed, having developed the method considerably over the past few years. As far as the ultrashort pulse laser as a tool for universal microprocessing is concerned, we are expecting it to spread to industries that have not yet relied on the technology. During the current calendar year, the additive manufacturing sector plans to introduce a TRUMPF machine for the additive manufacturing of metallic components, with subsequent models to follow. Last but not least, we are also expecting major orders in EUV technology.

For the Electronics division, a realignment strategy was launched at the beginning of the 2015/16 fiscal year. TRUMPF Hüttinger will sharply increase and intensify its commitment in the semi-conductor industry. Numerous products are on the verge of market rollout in this division. Entirely new electrical energy storage products form an additional pillar of our electronics strategy.

Higher level of investments

We will be sharply increasing our level of investments over the 2015/16 fiscal year. At sites in Germany, the USA, and China, we will be launching new construction and expansion projects to further boost our international presence. Our traditionally high investment in research and develop ment remains well above the industry average.


We are making these efforts because we perceive opportunities for growth and want to remain successful over the long term. This is how we secure our independence, our innovative strength, and the market opportunities of our customers.

Ditzingen, September 17, 2015

TRUMPF GmbH + Co. KG Berthold Leibinger GmbHDr. phil. Nicola Leibinger-Kammüller, PresidentDr.-Ing. E.h. Peter Leibinger, Vice-PresidentDr. rer. pol. Lars GrünertDr.-Ing. Mathias KammüllerDr. rer. soc. Gerhard Rübling


Consolidated Financial Statements2014/15

130 Consolidated Balance Sheet

131 Consolidated Profit and Loss Account

132 Statement of Shareholders’ Equity

134 Development of the Consolidated Fixed Assets

135 Consolidated Cash Flow Statement

136 Notes to the Consolidated Financial Statements

156 Audit Opinion

ContentsP

129TRUMPF Annual Report 2014/15 Consolidated Financial Statements

EQUITY AND LIABILITIES in € ’000s Notes 6/30/2015 6/30/2014

EQUITY 9

Fixed capital and subscribed capital 98,500 98,500

Revenue reserves 1,089,793 897,417

Equity difference from foreign currency translation 148,470 30,955

Minority interests 47,068 38,479

1,383,831 1,065,351

DIFFERENCE FROM CAPITAL CONSOLIDATION 1,340 –

SPECIAL RESERVES 10 8,480 9,687

ACCRUALS

Accruals for pensions and similar obligations 199,856 158,086

Other accruals 11 294,228 256,151

494,084 414,237

LIABILITIES 12 761,709 741,344

DEFERRED INCOME 13 39,327 39,916

DEFERRED TAX LIABILITIES 14 19,737 16,622

2,708,508 2,287,157

ASSETS in € ’000s Notes 6/30/2015 6/30/2014

FIXED ASSETS

Intangible assets 1 143,948 115,910

Tangible assets 2 795,691 771,944

Financial assets 3 11,555 14,257

951,194 902,111

CURRENT ASSETS

Inventories 4 590,558 548,332

Receivables and other assets 5 651,143 628,803

Securities 6 554 9

Cash 7 489,525 181,247

1,731,780 1,358,391

PREPAID EXPENSES 8 25,534 26,655

2,708,508 2,287,157

Consolidated Balance Sheetas of June 30, 2015

130 TRUMPF Annual Report 2014/15Consolidated Financial Statements

in € ’000s Notes 2014/15 2013/14

Sales 19 2,716,993 2,586,826

Changes in inventories and own work capitalized 20 33,529 69,305

2,750,522 2,656,131

Other operating income 21 132,738 87,966

Cost of materials 22 –1,190,503 –1,227,404

Personnel expenses 23 –793,052 –722,867

Amortization and depreciation on intangible assets and tangible assets –109,140 –103,040

Other operating expenses 24 –488,468 –424,304

Financial and investment result 25 –16,887 –18,120

Results from ordinary business activities 285,210 248,362

Extraordinary income 26 71,930 –

Extraordinary result 71,930 –

Taxes on income 27 –76,998 –46,152

Other taxes –9,351 –8,932

Group net income for the year 270,791 193,278

Results allocable to minority interests 9 –1,099 –881

Group net income for the year excluding results allocable to minority interests 269,692 192,397

For information purposes:

Partners’ taxes 27 –47,014 –26,757

Group net income for the year after partners’ taxes and minority interests 222,678 165,640

Consolidated Profit and Loss Accountfor fiscal year 2014/15


Parent company Minority interests

Fixed capital and subscribed

capital

Equityearned bythe Group

Accumulated other comprehensive income

Equity Minoritycapital

Accumulated other compre-

hensive income

Equity Group equity

in € ’000s Exchange ratedifferences

Other recog-nized income and expense

Exchange ratedifferences

As of June 30, 2013 98,500 878,313 35,997 –76,635 936,175 9,023 7 9,030 945,205

Payments of dividends – – – – – –439 – –439 –439

Allocations to partners’ accounts – –98,860 – – –98,860 –156 – –156 –99,016

Changes in consolidated group – – – – – 29,609 –417 29,192 29,192

Group net income for the year – 192,396 – – 192,396 881 – 881 193,277

Other changes – 2,203 –5,042 – –2,839 – –29 –29 –2,868

As of June 30, 2014 98,500 974,052 30,955 –76,635 1,026,872 38,918 –439 38,479 1,065,351


Allocations to partners’ accounts – –93,255 – – –93,255 – – – –93,255

Changes in consolidated group – – – 13,748 13,748 1,534 – 1,534 15,282

Group net income for the year – 269,692 – – 269,692 1,099 – 1,099 270,791

Other changes – 2,191 117,515 – 119,706 – 6,018 6,018 125,724

As of June 30, 2015 98,500 1,152,680 148,470 –62,887 1,336,763 41,489 5,579 47,068 1,383,831

Statement of Shareholders’ Equityfor fiscal year 2014/15


Parent company Minority interests

Fixed capital and subscribed

capital

Equityearned bythe Group

Accumulated other comprehensive income

Equity Minoritycapital

Accumulated other compre-

hensive income

Equity Group equity

in € ’000s Exchange ratedifferences

Other recog-nized income and expense

Exchange ratedifferences

As of June 30, 2013 98,500 878,313 35,997 –76,635 936,175 9,023 7 9,030 945,205


Allocations to partners’ accounts – –98,860 – – –98,860 –156 – –156 –99,016

Changes in consolidated group – – – – – 29,609 –417 29,192 29,192

Group net income for the year – 192,396 – – 192,396 881 – 881 193,277

Other changes – 2,203 –5,042 – –2,839 – –29 –29 –2,868

As of June 30, 2014 98,500 974,052 30,955 –76,635 1,026,872 38,918 –439 38,479 1,065,351


Allocations to partners’ accounts – –93,255 – – –93,255 – – – –93,255

Changes in consolidated group – – – 13,748 – 1,534 – 1,534 15,282

Group net income for the year – 269,692 – – 269,692 1,099 – 1,099 270,791

Other changes – 2,191 117,515 – 119,706 – 6,018 6,018 125,724

As of June 30, 2015 98,500 1,152,680 148,470 –62,887 1,336,763 41,489 5,579 47,068 1,383,831


in € ’000s Acquisition costs

7/1/2014

Changes in consolidated

group

Additions Disposals Transfers Accumu-lated

depreciation

Book value 6/30/2015

Book value 6/30/2014

Depreciationfor the year

INTANGIBLE ASSETS

Acquired concessions, industrial and similar rights and assets and licenses 145,308 –3,029 13,641 –1,052 582 –79,235 76,215 65,221 14,630

Goodwill 73,348 5,051 18,739 – – –31,075 66,063 48,868 15,785

Payments on account 1,820 –10 589 – –729 – 1,670 1,821 –

220,476 2,012 32,969 –1,052 –147 –110,310 143,948 115,910 30,415

TANGIBLE ASSETS

Land and buildings 826,607 –26,622 15,442 –1,008 21,328 –269,392 566,355 547,354 26,373

Technical equipment and machines 306,514 –6,530 14,201 –8,897 17,709 –217,501 105,496 90,465 23,227

Other equipment, factory and office equipment 345,481 –25,822 34,685 –12,599 1,961 –241,130 102,576 101,185 28,528

Payments on account 33,560 –1,202 32,149 –2,392 –40,851 – 21,264 32,940 597

1,512,162 –60,176 96,477 –24,896 147 –728,023 795,691 771,944 78,725

FINANCIAL ASSETS

Shares in affiliatedenterprises 8,275 –7,574 8,378 – – – 9,079 8,272 –

Shares in associatedenterprises 55 – – – – – 55 55 –

Participations 8,024 –964 1,414 –4,244 – –2,304 1,926 5,720 –

Long-terminvestments 592 – 219 – – –591 220 – –

Other loans 709 –497 66 –3 – – 275 210 –

17,655 –9,035 10,077 –4,247 – –2,895 11,555 14,257 –

1,750,293 –67,199 139,523 –30,195 – –841,228 951,194 902,111 109,140

Development of the Consolidated Fixed Assetsfor fiscal year 2014/15


in € ’000s 2014/15 2013/14

GROUP NET INCOME 270,791 193,278

– / + Extraordinary result –71,930 –

+ Depreciation for the year on non-current assets 109,140 103,040

+ / – Increase/decrease of accruals for pensions and similar obligations 44,047 16,381

+ / – Increase/decrease of other accruals and deferred tax liabilities 30,629 18,365

+ / – Other non-cash expenses/income 11,588 8,463

– / + Profit/loss on disposals of fixed assets 163 639

– / + Increase/decrease in inventories, trade receivables and other assets not related to investing or financing activities 22,226 –94,346

+ / – Increase/decrease in trade payables and other liabilities not related to investing or financing activities –65,327 30,357

= Cash flow from operating activities 351,327 276,177

+ Proceeds from disposal of tangible assets 6,373 5,391

– Purchase of tangible assets –96,477 –116,847

+ Proceeds from disposal of intangible assets 54 1,930

– Purchase of intangible assets –32,969 –7,927

+ Proceeds from disposal of non-current financial assets 3,544 2

– Acquisition of non-current financial assets –10,077 –7,764

+ Proceeds from investment subsidies 526 319

+ Proceeds from the sale of consolidated companies 187,079 –

+ / – Purchase of consolidated companies 121 –103,455

+ Proceeds from financial investment as part of short-term cash management – 50,000

– Cash payments for financial investment as part of short-term cash management –37,066 –

= Cash flow from investing activities 21,108 –178,351

– Cash payments made to partners and minority shareholders –83,548 –36,715

– Cash repayments of long-term loans –63,259 –66,506

+ Proceeds from new financial liabilities 14,161 –

= Cash flow from financing activities –132,646 –103,221

CHANGE IN CASH AND CASH EQUIVALENTS 239,789 –5,395

+ / –Change in cash and cash equivalents due to exchange rate movements, changes in Group structure and in valuation procedures for cash funds 30,090 –899

+ Cash and cash equivalents at the beginning of fiscal year 205,224 211,518

= Cash and cash equivalents at the end of fiscal year 475,103 205,224

COMPOSITION OF CASH AND CASH EQUIVALENTS

+ Cash, securities and promissory note bonds 490,079 224,333

– Short-term bank loans (current account) –14,976 –19,109

= Cash and cash equivalents at the end of fiscal year 475,103 205,224

Consolidated Cash Flow Statementfor fiscal year 2014/15


Principles and Methods

The consolidated financial statements for the fiscal year 2014/15 have been prepared in accor-dance with sec. 264a HGB (German Commercial Code) and in line with sec. 290 et sequentes HGB. The accounting and valuation principles of the HGB for large corporations have been applied while taking into account the regulations for partnerships. In accordance with sec. 298 (1) HGB in conjunction with sec. 244 HGB the consolidated financial statements have been prepared in euro (€). The consolidated profit and loss account has been drawn up using the method of total costs.

To enhance the clarity of the consolidated financial statements, various items on the consolidated balance sheet and the consolidated income statement have been grouped together. They are disclosed separately in the notes to the consolidated financial statements. The balance sheet was supplemented by the position “Other financial liabilities” in addition to those prescribed by law.

Accounting and Valuation

The financial statements of the companies included in the consolidated financial statements have been prepared according to uniform accounting and valuation principles. Any adjustments required to conform with local regulations to ensure uniform group accounting have been made in a “Handelsbilanz II” (balance sheet for consolidation purposes).

Intangible and tangible assets are stated at acquisition or manufacturing cost, net of normal amortization or depreciation. Tangible assets are depreciated using the straight-line method. For tangible assets which have been depreciated using the declining balance method, the option to continue to apply this method provided by sec. 67 (4) EGHGB was exercised.

Normal amortization and depreciation is generally based on the following useful lives: 3 to 5 years for software, 5 years for goodwill, 9 to 12 years for acquired customer bases, 3 to 9 years for technological know-how, 10 years for trademark rights, 25 to 50 years for buildings, 6 to 8 years for technical equipment and machinery, and 3 to 20 years for other equipment, factory and office equipment.

Financial assets are stated at acquisition cost or the net realizable value as of the balance sheet date. For accounting and valuation of shares in associated enterprises, please refer to the explanations of the consolidation principles.

Notes to the Consolidated Financial Statementsfor fiscal year 2014/15 Shortened presentation


Inventories of raw materials, consumables and supplies as well as merchandise are stated at the lower of cost or market value. Finished goods and work in progress are valued at manufacturing cost, which includes direct material and productions costs, appropriate material and production overhead costs as well as depreciation expenses attributable to the manufacturing process.

Inventories are adjusted to the attributable value at the balance sheet date if this is lower than the acquisition or manufacturing cost due to lower replacement prices, lower sales market prices, excess inventories or unsaleability.

Payments on account received are deducted from inventories.

Receivables and other assets are stated at the lower of nominal values or net realizable values at the balance sheet date. If the collectability of receivables is at risk, appropriate allowances are made while uncollectible receivables are written-down completely. The general credit risk inher-ent in trade receivables is covered by lump-sum bad debt allowances on net receivables that are not subject to specific allowances.

Securities are stated at the lower of acquisition cost or the net realizable value at the balance sheet date.

Prepaid expenses include payments prior to the balance sheet date to the extent they relate to expenses for a certain period after that date. Debt discount is capitalized and amortized over the scheduled term of the loan.

The special reserves include investment subsidies and grants for fixed assets. These are released over the economic life of the subsidized assets.

Accruals for pensions and similar obligations are calculated based on actuarial principles using the projected unit credit method based on Prof. Dr. Klaus Heubeck’s 2005 G mortality tables. In accordance with the regulation in sec. 253 (1) HGB the expected increase in salaries and pen-sions as well as the predicted employee turnover are taken into account in the actuarial calcula-tion of the accruals. Accruals for pensions and similar obligations are discounted at the average market interest rate prevailing over the past seven fiscal years, working on the assumption of a residual term of 15 years. The interest rates are published by Deutsche Bundesbank (German Central Bank).


In fiscal year 2014/15 the calculation was based on the following parameters:

– Interest rate: 4.20 percent p.a. (prior year 4.81 percent p.a.)– Increase of salaries and pensions: 3.0 percent p.a. (prior year 3.0 percent p.a.)– Pension trend: 1.0–2.0 percent p.a. (prior year 1.0–2.0 percent p.a.)– Employee turnover rate: 2.0 percent p.a. (prior year 2.0 percent p.a.)

Other accruals cover all known risks, uncertain liabilities and contingent losses on pending transactions as of the balance sheet date. They are recognized at the amount needed to settle them based on prudent commercial judgment. Accruals with a remaining term of more than one year have been discounted in accordance with sec. 253 (2) sentence 1 HGB. Economic hedging relationships between derivative financial instruments and underlying transactions are accounted for by creating valuation units.

Accruals for obligations relating to phased retirement programs are calculated according to actuarial principles based on an interest rate of 2.42 percent p.a. (prior year 3.19 percent p.a.). These accruals were offset against assets which will be used exclusively for the settlement of obligations resulting from phased retirement contracts and which cannot be accessed by all other remaining creditors. The net realizable value of the plan assets (k€ 2,626, prior year k€ 2,951) is equivalent to the acquisition costs. The repayment amount of the accruals for obligations relating to phased retirement programs which were offset against the assets stands at k€ 3,006 (prior year k€ 2,951). Due to immateriality the offsetting of expenses and income was waived.

Accruals for obligations relating to the “TRUMPF Familien- und Weiterbildungskonto” were off-set against assets that will only be used for the fulfillment of the obligation and that cannot be accessed by other creditors. The net realizable value of the plan assets, which corresponds to the acquisition costs is k€ 3,229 (prior year k€ 2,026). The repayment amount of the accruals is also k€ 3,229 (prior year k€ 2,026). Due to immateriality the offsetting of the corresponding expenses and income was waived.

Liabilities are reported at the repayment amount.

Deferred income includes payments prior to the balance sheet date to the extent they relate to income for a certain period after that date.

Deferred taxes result from temporary and quasi-permanent differences between the commercial amounts stated for assets, liabilities and accrued and deferred items and the corresponding tax


valuations, or from tax loss carry forwards. To calculate the deferred tax, the respective undis-counted tax burden or relief is valued based on the company-specific tax rate that is expected to prevail when the differences will be settled. Deferred tax assets and liabilities are shown net. If a surplus remains on the assets side as of the balance sheet date the option for recognition in accordance with sec. 274 (1) sentence 2 HGB is not exercised.

Ownership of Shares and Companies included in Consolidation

Prof. Dr. techn. Dr.-Ing. E.h. Berthold Leibinger and his family and Berthold Leibinger Stiftung GmbH hold all shares, directly and indirectly, in TRUMPF GmbH + Co. KG and Berthold Leibinger GmbH, Ditzingen (Germany). Together, the two companies exercise control over all domestic and foreign subsidiaries of the TRUMPF Group. The consolidation process treats these two companies as joint parent companies.

The consolidation group consists of 26 (prior year 26) German subsidiaries and 53 (prior year 56) subsidiaries outside of Germany in addition to the parent companies. A complete list of shareholdings in accordance with sec. 313 HGB is published together with the complete notes to the consolidated financial statements in the “elektronischer Bundesanzeiger” (electronic Federal Gazette).

During the financial year 2014/2015 the Medical Technology division was sold and all compa-nies associated with it will no longer be included in the consolidated financial statements. Total sales and total assets of the Medical Technology division during the financial year 2013/2014 amounted to k€ 183,802 and k€ 124,593, respectively. The division contributed profits from ordinary business activities of k€ 5,194. The deconsolidation resulted in a gain on disposal of k€ 71,930.

Ten (prior year five) subsidiaries are not included in the consolidated financial statements for rea-sons of immateriality as neither the sum of net income nor the sum of revenues of these compa-nies exceed 1 percent of the consolidated TRUMPF Group net income and revenue, respectively. Consequently, they are considered as irrelevant for the fair presentation of the net assets, finan-cial position and results of operations of the Group. Two (prior year two) companies are included in the consolidated financial statements as associated enterprises, in accordance with sec. 311 et sequentes HGB. For one (prior year four) additional company, the application of the equity method has been waived for reasons of immateriality as neither net income nor revenues exceed 1 percent of the consolidated TRUMPF Group net income and revenue, respectively.


Consolidation Principles

Until June 30, 2010 capital consolidation was carried out in accordance with the book value method. This involves offsetting acquisition costs against the pro rata owner’s equity of the subsidiaries at the time of first-time consolidation, foundation or acquisition. From fiscal year 2010/11 onwards the revaluation method in accordance with sec. 301 (1) HGB has been applied. When using this method the equity of the subsidiaries is stated at an amount that approximates the net realizable value of those assets and liabilities that have to be included in the consolidated financial statement.

Until the fiscal year 2009/10 a residual debit difference was treated as goodwill and offset against the revenue reserves and minority interests without affecting income. From fiscal year 2010/11 onwards a residual debit difference is shown as goodwill on the assets side and is depreciated based on the expected useful life. If a credit difference results from capital consolidation, it is disclosed as a credit difference arising from capital consolidation below the equity items.

Investments in associated enterprises have been consolidated at equity in accordance with sec. 312 (1) no. 1 HGB using the book value method.

The consolidation measures of sec. 300 to 305 HGB may result in differences between the accounting and the tax base of assets, liabilities as well as of accrued or deferred items. In these cases, the prospective tax relief or burden is recognized in the balance sheet as a deferred tax asset/liability provided that these differences are expected to reverse in the future. The calcula-tion of deferred taxes is based on the individual tax rate expected for the date of settlement of the differences. The tax rates range from 12 percent to 39 percent. Deferred tax liabilities are disclosed net of deferred tax assets. In the event that the latter exceed the former, the option to recognize deferred tax assets in the balance sheet provided by sec. 274 HGB is not exercised.

Any intercompany profits arising from intercompany sales or services are eliminated with effect on income. Accounts receivable and payable between companies included in the consolidation are offset against each other. Any resulting foreign exchange related differences are not included in the profit and loss account and recognized in the item “equity difference from foreign currency translation” instead. Revenues from intercompany sales and intercompany income are offset against the corresponding expenses or reclassified as changes in inventory or other own work capitalized.


Foreign Currency Translation

In the individual financial statements, foreign currency receivables and liabilities are translated generally at the average spot exchange rate. In case of residual terms of more than one year the realization principle (sec. 298 (1) HGB in conjunction with sec. 252 (1) No. 4 clause 2 HGB) and the historical cost principle (sec. 298 (1) HGB in conjunction with sec. 253 (1) sentence 1 HGB) are taken into account.

Bank balances denoted in foreign currency are translated at the average spot exchange rate pre-vailing at the balance sheet date. Acquisition costs for shares in foreign subsidiaries or participa-tions – with the exception of other participations – are valued at historical rates. Figures disclosed in the notes to the financial statements are translated at the average spot exchange rate on the balance sheet date.

In the consolidated financial statements, the balance sheet items of subsidiaries that do not use the euro as functional currency are translated in accordance with sec. 308a HGB using the modified current-rate method. Hence, items on the assets and the liabilities side of the balance sheets prepared in foreign currencies are translated at the average spot exchange rate prevailing at the balance sheet date. This practice does not apply to the equity position for which historical rates are used. The items in the profit and loss accounts of subsidiaries that do not use the euro as functional currency are translated at the average exchange rate for the fiscal year. Any resulting differences are shown in accordance with sec. 308a HGB within Group equity below the reserves as “equity difference from foreign currency translation”.


Explanations to the Balance Sheet

The numbers stated in the following paragraphs refer to the corresponding items in the consoli-dated balance sheet or consolidated profit and loss account.

The development of the consolidated fixed assets is presented separately. Differences resulting from currency translation have been taken into account in the acquisition or manufacturing costs as well as in the accumulated depreciation and amortization.

1. Intangible assets

The position primarily consists of goodwill arising from acquisitions as well as of software and expertise acquired from third parties. Additions mainly result from the initial recognition of assets in the process of the acquisition of JK Lasers as well as from the acquisition of software licenses by TRUMPF GmbH + Co. KG. The prior year value includes intangible assets of the deconsolidated Medical Technology division amounting to k€ 1,655 with a total residual book value at the date of the deconsolidation of k€ 1,607.

2. Tangible assets

The increase in tangible assets of 3.1 percent is mainly attributable to investment projects of our subsidiaries in Ditzingen and Schramberg (Germany), Cranbury and Farmington (USA), Linz (Austria) as well as in Grüsch and Baar (Switzerland), which relate to the construction of new buildings, the enlargement and refurbishment of existing buildings as well as machines and equipment for those buildings and replacement and expansion investments for machines. In the prior year, the Medical Technology division reported tangible assets of k€ 35,554 with a total residual book value at the date of the deconsolidation of k€ 34,949.

3. Financial assets

The shares in affiliated enterprises relate to subsidiaries not included in the consolidated finan-cial statements. The prior year value includes financial assets of the deconsolidated Medical Technology division of k€ 964 with a total residual book value at the date of the deconsolidation of k€ 964.


The deconsolidated Medical Technology division reported inventories with a book value of k€ 40,723 as of June 30, 2014.

Receivables and other assets of the Medical Technology division amounted to k€ 57,887 in the prior financial year.

4. Inventories

in € ’000s 6/30/2015 6/30/2014

Raw materials, consumables and supplies 184,393 165,127

Work in progress 165,913 155,511

Finished goods and merchandise 359,823 338,818

Payments on account 7,995 7,676

718,124 667,132

Payments on account received –127,566 –118,800

590,558 548,332

5. Receivables and other assets

in € ’000s 6/30/2015 6/30/2014

Trade receivables 541,298 563,792

of which with a residual term of more than one year 7,835 20,902

Receivables from affiliated companies 650 59

of which with a residual term of more than one year – –

Receivables from participations – 550

of which with a residual term of more than one year – –

Other assets 109,195 64,402

of which with a residual term of more than one year 3,658 4,460

651,143 628,803


6. Securities

The securities include investment products which are held for financial investment purposes as well as to secure the claims of employees from the “TRUMPF Familien- und Weiterbildungskonto”.

7. Cash and cash equivalents

This relates to checks, cash on hand and bank balances as well as short-term investments.

Other prepaid expenses include vacation allowances, insurance premiums, maintenance agree-ments, rent, dues and other prepaid costs caused by the divergent fiscal year.

9. Equity

The fixed capital and subscribed capital position corresponds to the compulsory contributions of the limited partners of TRUMPF GmbH + Co. KG and the subscribed capital of the general partner. The compulsory contributions of the limited partners and the risk capital are identical.

The result allocation for the fiscal year 2014/15 was made in accordance with the regulations of the partnership agreements and has been taken into account in the preparation of the consoli-dated financial statements.

Other revenue reserves contain profits and losses generated by the general partner, the domestic and foreign subsidiaries as well as allocated goodwill of k€ –62,887 (prior year k€ –76,635).

8. Prepaid expenses

in € ’000s 6/30/2015 6/30/2014

Debt discount pursuant to sec. 250 (3) HGB 164 198

Other 25,370 26,457

25,534 26,655


Furthermore, in accordance with sec. 308a HGB exchange rate differences are not disclosed together with revenue reserves anymore. From the fiscal year 2010/11 onwards they are recog-nized separately within equity in the item “equity difference from foreign currency translation”.

Where capital increases have been made from company funds at subsidiaries since foundation or acquisition, the amounts concerned totaling k€ 13,374 (prior year k € 13,429) have been transferred back to the revenue reserves.

Minority interests mainly relate to investments in Jiangsu Jinfangyuan CNC Machine Company Limited, TRUMPF-Homberger S.r.l., TRUMPF Sachsen GmbH, TRUMPF Sisma S.r.l. and TRUMPF Hüttinger GmbH + Co. KG. The result allocable to minority interests comprises profit shares of k€ 2,526 (prior year k€ 1,422) and loss shares of k€ 1,427 (prior year k€ 541). The development of the Group’s equity is shown separately in the statement of changes in Group equity.

Other accruals mainly relate to obligations in the personnel and welfare area, warranty obliga-tions, outstanding purchase invoices and other contingent liabilities. The deconsolidated Medical Technology division has recognized accruals amounting to k€ 13,662 as of June 30, 2014.

10. Special reserves

in € ’000s 6/30/2015 6/30/2014

Investment subsidies and grants 8,480 9,687

8,480 9,687

11. Other accruals

in € ’000s 6/30/2015 6/30/2014

Tax accruals 20,329 26,232

Other accruals 273,899 229,919

294,228 256,151


Trade payables are subject to the customary retention of title.

12. Liabilities

Term Term

in € ’000s 6/30/2015 Total

up to 1 year

1 to 5 years

over 5 years

6/30/2014Total

up to 1 year

Liabilities to banks 109,225 18,753 40,594 49,878 127,732 24,654

Other financial liabilities 63,869 26,212 20,921 16,736 63,854 1,093

Trade payables 148,383 145,665 2,718 – 134,049 131,325

Liabilities on bills accepted and drawn 21 21 – – 20 20

Liabilities to affiliated companies 25 25 – – 384 384

Liabilities to partners 332,131 73,861 258,270 – 312,745 51,064

Liabilities to associated companies – – – – 428 428

Other liabilities 108,055 92,260 15,157 638 102,132 88,798

of which taxes 30,673 30,673 – – 32,935 32,935

of which relating to social security 5,633 5,633 – – 5,036 5,036

761,709 356,797 337,660 67,252 741,344 297,766


Other financial liabilities relate to a private placement on the US stock market in the unchanged amount of k€ 62,762 (prior year k€ 62,762) and the accrued interest. Liabilities to partners relate to liabilities of TRUMPF GmbH + Co. KG and TRUMPF Hüttinger GmbH + Co. KG to their limited partners.

Other liabilities include funds lent to the Group by employees in connection with the company profit participation plan. This position also contains commissions, customer credits and other loans. Liabilities to the indirect stockholder Berthold Leibinger Stiftung GmbH also contained in this position amount to k€ 15,935 (prior year k€ 15,290) on the balance sheet date.

Liabilities to banks amounting to k€ 49,596 (prior year k€ 57,093) have been backed by mortgage.

Liabilities attributable to the Medical Technology division had a book value of k€ 13,974 in the prior year.

13. Deferred income

This item includes mainly the deferral of revenues or payments already received for maintenance services, training or leasing contracts.


14. Deferred tax liabilities

Deferred tax liabilities amount to k€ 19,737 (prior year k€ 16,622) as of the balance sheet date. The balanced deferred tax liabilities are based on divergent balance sheet values in the commercial and the tax financial statement which are mainly attributable to intangible assets, tangible assets and provisions as well as deferred taxes from consolidation activities.

Due to the sound net assets, financial position and profit of the companies, for which a guaran-tee was provided, the risk of claiming out of the contingent liabilities is considered to be low.

Foreign exchange related transactions concern foreign exchange forwards and swaps in the currency pairs EUR/USD, EUR/JPY, EUR/CNY, EUR/GBP, EUR/SEK and EUR/PLN. Other transactions include combined interest and foreign exchange hedging transactions in the currency pairs EUR/USD and EUR/JPY.

Adequate provisions have been made for hedging transactions with a negative net realizable value on the balance sheet date that are not included in a valuation unit. The valuation is conducted in accordance with generally accepted valuation methods, e.g. present value or option pricing models.

15. Contingent liabilities

in € ’000s 6/30/2015 6/30/2014

Warranty agreements and guarantees 505 568

505 568

16. Derivative financial instruments and valuation units

in € ’000s Nominal amount

Net realizable value

Book value Balance sheet item

Foreign exchange related transactions 338,125 –5,034 – –

Other transactions 66,946 5,495 – –


The following valuation units have been generated:

In respect of the existing hedges on the balance sheet date the following applies in accordance with sec. 254 HGB:

Economic hedging relationships between derivative financial instruments and underlying trans-actions are reflected in the balance sheet by recognizing valuation units. Due to the consistency of all significant value-determining components, the opposite changes in value from the under-lying and the hedged item completely offset one another within the hedge period. The effectiveness of the hedges is monitored on a regular basis within the existing risk management. If necessary, the hedging strategy is modified immediately. Based on that, hedging relationships can be assumed to be effective prospectively and retrospectively.

To hedge foreign exchange risks arising from highly probably forecast transactions, the TRUMPF Group enters into forward contracts that match the expected net cash flow in terms of duration, nominal value and currency (macro hedges). The highly probable future incoming and outgoing payments arising from sales and sourcing transactions are derived from corporate planning. The verification of former planning has shown that the applied transactions are highly probable.

Underlying transaction/Hedging instrument Risk/Type of valuation unit Included amounts

Hedged amount

Third party sales/Foreign exchange forwards

Foreign exchange risk/ Macro hedge k€ 27,692 kCNY 193,586

Third party sales/Foreign exchange forwards and foreign exchange swaps

Foreign exchange risk/ Macro hedge k€ 74,240 kJPY 8,536,000

Third party sales/Foreign exchange forwards and foreign exchange swaps

Foreign exchange risk/ Macro hedge k€ 189,995 kUSD 226,500


Foreign exchange risk/ Macro hedge k€ 35,887 kGBP 28,800


Foreign exchange risk/ Macro hedge k€ 1,952 kSEK 18,000

Trade payables/Foreign exchange forwards

Foreign exchange risk/ Macro hedge k€ 8,359 kPLN 36,000

Financial liabilities/Combined interest and foreign exchange hedges

Interest and foreign exchange risk/Micro hedge k€ 62,762 kUSD 75,000

Financial liabilities/Combined interest and foreign exchange hedges

Interest and foreign exchange risk/Micro hedge k€ 4,184 kJPY 522,594


17. Off-balance-sheet transactions

In this fiscal year there are no material off-balance-sheet transactions.

In addition to that, there are obligations from master agreements and regular purchase commit-ments on a scale customary for the company.

Explanations to the Profit and Loss Account

19. Sales

21 percent (prior year 25 percent) of total sales were generated in Germany and 79 percent (prior year 75 percent) abroad. For sales per business division please refer to the group management report.

In the prior year, the Medical Technology division contributed sales of k€ 183,802.

18. Other financial commitments

in € ’000s 6/30/2015 6/30/2014

Rent, lease and leasing agreements as well as other commitments 51,724 58,944

Purchase obligations relating to capital expenditures 10,201 15,682

61,925 74,626

The amounts are due as follows: Within 1 year 22,871 34,019

2 to 4 years 24,681 25,264

5 years and thereafter 14,373 15,343

61,925 74,626

in € ’000s 2014/15 2013/14

Sales in Germany 567,997 645,768

Sales outside Germany 2,148,996 1,941,058

2,716,993 2,586,826


21. Other operating income

Other operating income mainly relates to income from exchange rate gains and the release of accruals. Income from foreign currency translation amounts to k€ 83,605 (prior year k€ 40,677). Other operating income totaling k€ 15,138 is allocable to other fiscal years (prior year k€ 19,672).

In the prior financial year, cost of materials attributable to the deconsolidated Medical Technology division amounted to k€ 98,191.

Personnel expenses also contain remuneration and pension expenses for our partners. Personnel expenses of the Medical Technology division amounted to k€ 45,458 in the prior year.

20. Changes in inventories and own work capitalized

in € ’000s 2014/15 2013/14

Changes in inventories of finished goods and work in progress 27,488 61,431

Own work capitalized 6,041 7,874

33,529 69,305

22. Cost of materials

in € ’000s 2014/15 2013/14

Cost of raw materials, consumables and supplies and of purchased goods 1,131,043 1,155,811

Cost of purchased services 59,460 71,593

1,190,503 1,227,404

23. Personnel expenses

in € ’000s 2014/15 2013/14

Wages and salaries 636,843 599,974

Social security and other welfare costs 111,419 103,273

Pension costs 44,790 19,620

793,052 722,867


24. Other operating expenses

Other operating expenses mainly contain administrative and selling expenses including sales representative commissions, third party services, maintenance costs, training and travel expenses, freight out, exchange rate losses, advertising expenses as well as rent and lease expenses. Expenses from foreign currency translation amount to k€ 78,099 (prior year k€ 41,560). The Medical Technology division recognized other operating expenses of k€ 33,230 in the prior year.

26. Extraordinary result

Extraordinary profits are fully attributable to the sale of the Medical Technology division in the current financial year.

25. Financial and investment result

in € ’000s 2014/15 2013/14

Income from securities and loans 98 10

Income from equity investments 2 22

Other interests and similar income 9,771 9,114

of which from affiliated companies 6 7

Depreciation of financial assets and current securities –15 –

Interests and similar expenses –26,743 –27,266

of which from discounting of accruals –7,361 –4,509

–16,887 –18,120

in € ’000s 2014/15 2013/14

Extraordinary profits 71,930 –

71,930 –


27. Taxes on income

Taxes on income include the effective and deferred trade tax and corporate income tax payable by TRUMPF GmbH + Co. KG, the general partner and the domestic and foreign subsidiaries. Effective income taxes stood at k€ 80,963 (prior year k€ 50,114) for the reporting year.

The deferred tax income of k€ 3,964 recognized in the current fiscal year (prior year k€ 3,962) can be split into two components: income resulting from differences between the commercial and tax balance sheet (k€ 1,054, prior year k€ 1,438) as well as income from consolidation measures (k€ 2,910, prior year k€ 2,524).

Partners’ taxes were presented, for information purposes only, after the figure for the consoli-dated net income for the year according to sec. 264c (3) HGB. They are not included in the calculation of deferred taxes.

Notes to the Cash Flow Statement

28. Composition of cash and cash equivalents

Cash and cash equivalents includes cash, highly-liquid securities and short-term liabilities to banks. The amount of cash and cash equivalents reported in the cash flow statement diverges from the corresponding balance sheet position due to the netting of liquid funds against short-term liabilities to banks in the balance sheet. The difference between the amount of short-term bank loans in the cash flow statement and the amount of liabilities to banks with a remaining maturity of less than one year disclosed in the notes to the financial statements can be explained accordingly. The cash flow from operating activities includes interest received (k€ 4,838, prior year k€ 8,206), interest paid (k€ 6,468, prior year k€ 9,686) as well as refunds of income tax (k€ 3,665, prior year k€ 2,015) and paid income tax (k€ 81,325, prior year k€ 48,815).


Other Disclosures

29. Audit fees

The total fee charged by the independent auditor for the fiscal year amounts to k€ 1,052 (prior year k€ 891) and can be broken down as follows:

30. Employees

Annual average headcount:

31. Management

The persons stated below are responsible for the management of the company. The remuneration of the management of the parent company for the execution of the duties and responsibilities within the parent company and subsidiaries amounts to k€ 7,789 (prior year k€ 8,547).

Pension commitments of k€ 17,564 (prior year k€ 16,551) were made to former members of the management. In the fiscal year 2014/15, former general managers or their surviving dependents received benefits of k€ 1,280 (prior year k€ 1,283).

32. Exemption in accordance with HGB

The following corporations made use of the exemption from sec. 264 (3) HGB: TRUMPF Werkzeugmaschinen Beteiligungs-GmbH, TRUMPF Werkzeugmaschinen Deutschland Vertrieb + Service Beteiligungs-GmbH, TRUMPF International Beteiligungs-GmbH, TRUMPF Laser- und Systemtechnik GmbH, TRUMPF Hüttinger Verwaltung GmbH, TRUMPF Laser GmbH, Celtia

in € ’000s 2014/15 2013/14

Audit of financial statements 673 476

Tax consulting services 363 306

Other services 16 109

2014/15 2013/14

Germany Employees 4,916 5,102

Trainees 350 378

Abroad Employees 5,182 4,646

Trainees 136 147

10,584 10,273


Verwaltungs-GmbH, TRUMPF Lasertechnik GmbH (former TRUMPF Capital GmbH), TRUMPF Finance GmbH, TRUMPF Med Beteiligungen GmbH, Berthold Leibinger Immobilien GmbH, TRUMPF Kapitalbeteiligungen GmbH, TRUMPF Sachsen GmbH, TRUMPF Scientific Lasers Verwaltungsgesellschaft mbH, INGENERIC GmbH, TRUMPF Lasersystems for Semiconductor Manufacturing GmbH.

The following commercial partnerships within the meaning of sec. 264a (1) HGB made use of the exemption from the preparation of annual financial statements provided for in sec. 264b HGB in accordance with the commercial law provisions applicable to corporations: TRUMPF GmbH + Co. KG, TRUMPF Werkzeugmaschinen GmbH + Co. KG, TRUMPF Hüttinger GmbH + Co. KG, TRUMPF Immobilien GmbH + Co. KG, TRUMPF Werkzeugmaschinen Deutschland Vertrieb + Service GmbH + Co. KG, TRUMPF Scientific Lasers GmbH + Co. KG.

33. Supervisory Board/Administrative Board

Sec. 1 (1) no. 2 of the MitbestG (German Codetermination Law) provides that a company which exceeds a certain size classification must appoint a supervisory board. In accordance with sec. 7 (1) no. 1 MitbestG, Berthold Leibinger GmbH has met this requirement effective since fiscal year 1998/99. The Supervisory Board has twelve members.

The Supervisory Board total remuneration amounts to k€ 104 (prior year k€ 103).

34. Related party transactions

All transactions with affiliated companies and persons were at arm’s length.

Ditzingen, September 17, 2015

TRUMPF GmbH + Co. KG Berthold Leibinger GmbHDr. phil. Nicola Leibinger-Kammüller (President)Dr.-Ing. E.h. Peter Leibinger (Vice President)Dr. rer. pol. Lars GrünertDr.-Ing. Mathias Kammüller Dr. rer. soc. Gerhard Rübling


> Audit Opinion

Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft, Stuttgart, issued the fol-lowing audit opinion on the consolidated financial statements and the group man-agement report as published in the “elektronischer Bundesanzeiger” (electronic Federal Gazette):

We have audited the consolidated financial statements prepared by TRUMPF GmbH + Co. KG, Ditzingen, and Berthold Leibinger GmbH, Ditzingen, comprising the bal-ance sheet, the profit and loss account, cash flow statement, statement of changes in Group equity and the notes to the consolidated financial statements, together with the group management report for the fiscal year from July 1, 2014 to June 30, 2015. The preparation of the consolidated financial statements and the group management report in accordance with German commercial law as well as the additional provi-sions of partnership agreements are the responsibility of the companies’ manage-ment. Our responsibility is to express an opinion on the consolidated financial statements and on the group management report based on our audit.

We conducted our audit of the consolidated financial statements in accordance with sec. 317 HGB (“Handelsgesetzbuch”: German Commercial Code) and German generally accepted standards for the audit of financial statements promulgated by the Institut der Wirtschaftsprüfer (IDW, Institute of Public Auditors in Germany). Those standards require that we plan and perform the audit such that misstatements materially affecting the presentation of the net assets, financial position and results of operations in the consolidated financial statements in accordance with German principles of proper accounting and in the group management report are detected with reasonable assurance. Knowledge of the business activities and the economic and legal environment of the Group and expectations as to possible misstatements are taken into account in the determination of audit procedures. The effectiveness of the accounting-related internal control system and the evidence supporting the dis-closures in the consolidated financial statements and the group management report are examined primarily on a test basis within the framework of the audit. The audit includes assessing the annual financial statements of those entities included in con-solidation, the determination of the entities to be included in consolidation, the accounting and consolidation principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements and the group management report. We believe that our audit provides a reasonable basis for our opinion.


Our audit has not led to any reservations.

In our opinion, based on the findings of our audit, the consolidated financial state-ments comply with the legal requirements as well as the additional provisions of partnership agreements and give a true and fair view of the net assets, financial position and results of operations of the Group in accordance with German princi-ples of proper accounting. The group management report is consistent with the con-solidated financial statements and as a whole provides a suitable view of the Group’s position and suitably presents the opportunities and risks of future development.

Stuttgart, September 18, 2015

ERNST & YOUNG GMBHWIRTSCHAFTSPRÜFUNGSGESELLSCHAFT

MARBLER HEUBACHGERMAN PUBLIC AUDITOR GERMAN PUBLIC AUDITOR


> Imprint

Published byTRUMPF GmbH + Co. KG

Corporate Communications and Public Affairs

Edited byAnke Roser

Harald Willenbrock (www.harald-willenbrock.de)

ContactTRUMPF GmbH + Co. KG

Johann-Maus-Straße 2

71254 Ditzingen, Germany

Fon +49.7156 303-0

Fax +49.7156 303-930309

[email protected]

Picture creditsCover J.H. Darchinger/Friedrich-Ebert-Stiftung

Jacket (product photos) TRUMPF GmbH + Co. KG

Page 83 (Dr. Hambrecht) Thomas Dashuber

NOTEWith the exception of the Editorial and the Management Board and Supervisory Board Reports, only the masculine form is used throughout this Annual Report for the sake of legibility, but it should be taken to refer to persons of both genders.

2 0 142015

REALIZATION

CONCEPT AND DESIGN

STRICHPUNKT GmbHStuttgart / Berlin, Germanywww.strichpunkt-design.de

PHOTOGRAPHS

Cira Morowww.laif.de

PRINT

Raff Media Group GmbHwww.raff-mediagroup.de

TRUMPF Annual Report 2014/15Imprint158

>> Technology Highlights

0 9 / 2014 >1

TruMatic 6000 fi berThe best of both worlds

The TruMatic 6000 � ber combines the advantages of a solid-state laser with high-performance punching technology, and this makes it a productive thin sheet machine for punch laser processing. With high-perfor-mance values for its cutting speed, punching force and drive as well as a robust, well-proven machine concept, this machine is pioneering in terms of productivity and pro-cess reliability.

10 / 2014 >2

TruTops BoostSoftware for rapid design

and programming

With TruTops Boost, design and program-ming tasks in sheet metal processing are almost child’s play. This new software from TRUMPF is based on a completely new ope-rating philosophy. Process-oriented, it guides users through the program and supports them with numerous automatic functions. Design, parts processing, and the generation of NC programs for 2-D laser cutting, pun-ching, and bending are all order-based in one single system.

10 / 2014 >3

TruBend Series 5000Better bending

Numerous newly-developed features make the new TruBend Series 5000 even more productive and user-friendly. Two innovative angle measuring systems guarantee the high-est accuracy. This new development is focused primarily on machine operators: a new control concept has made their tasks far easier. Ergonomic components such as the MagicShoe, which has revolutionized stroke release, make working on TRUMPF’s most successful bending machine even more enjoyable.

12 / 2014 >4

TruPunch 5000The world champion – even more

productive

Newly-developed axis drives have made the TruPunch 5000 – the fastest punching machine in the world – even faster. Produc-tivity is further boosted by the higher axis accelerations and rotational speeds. Smart functions ensure that all processes run smoothly and reliably – transforming high performance into high throughput.

09/2014 – 12/2014

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10 / 2014 >2


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10 / 2014 >3



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productive


09/2014 – 12/2014

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TruLaser Cell 8030Laser cutting of hot-formed components

The second generation of the TruLaser Cell 8030 sets new standards. It is more produc-tive and more energy-ef� cient than its pre-decessor – and, thanks to modular design and � exible con� guration, it means lower investment costs. The new machine’s main � eld of application is the laser cutting of hot-formed 3D structures and press-harde-ned components. New sensor systems make work even safer and processes even more stable.

02 / 2015 >6

TruTool DD 1010First battery-powered drill driver

The battery-powered drill driver TruTool DD 1010 is small and lightweight, offers impressively high performance and an ergo-nomically correct design. It draws its power from a state-of-the-art 10.8V Li-ion battery, ensuring long service life. The battery is identical in construction to those used in other TRUMPF power tools. Professionals can use the machine to drill start holes in steel plate as well as for screwdriving and drilling in other materials.

0 6 / 2015 >7

TruMicro 5080Fast cutting of display glass

Ultrashort pulse lasers are used to separate transparent materials such as sapphire and glass for the electronics industry. These are now more popular than ever, protecting the displays, cameras and housings of consumer products such as smartphones. The new � ag-ship at TRUMPF is the TruMicro 5080: It delivers the highest repetition rate and the most powerful pulses in the industrial short pulse laser world. With more than 150 watts of average power, it excels in all applications.

0 6 / 2015 >8

TOP CleaveNewly-developed record-breaking optic

In order to separate thin, hardened glass, ultrashort pulsed laser beams like those of the TruMicro 5080 focus into the inside of the glass and modify a narrow zone there, along the desired separation line. The change creates tension, the glass breaks in a controlled manner – and the resulting edge is smooth as a mirror, with precision down to one hundredth of a millimeter. With TOP Cleave, TRUMPF presents an optic that makes this process one hundred times faster – reaching speeds of one meter per second.

12/2014 – 06/2015

> Imprint

Published byTRUMPF GmbH + Co. KG

Corporate Communications and Public Affairs

Edited byAnke Roser

Harald Willenbrock (www.harald-willenbrock.de)

ContactTRUMPF GmbH + Co. KG

Johann-Maus-Straße 2

71254 Ditzingen, Germany

Fon +49.7156 303-0

Fax +49.7156 303-930309

[email protected]

Picture creditsCover J.H. Darchinger/Friedrich-Ebert-Stiftung

Jacket (product photos) TRUMPF GmbH + Co. KG

Page 83 (Dr. Hambrecht) Thomas Dashuber

NOTEWith the exception of the Editorial and the Management Board and Supervisory Board Reports, only the masculine form is used throughout this Annual Report for the sake of legibility, but it should be taken to refer to persons of both genders.

2 0 142015

REALIZATION

CONCEPT AND DESIGN

STRICHPUNKT GmbHStuttgart / Berlin, Germanywww.strichpunkt-design.de

PHOTOGRAPHS

Cira Morowww.laif.de

PRINT

Raff Media Group GmbHwww.raff-mediagroup.de

TRUMPF Annual Report 2014/15Imprint158


0 9 / 2014 >1



10 / 2014 >2


and programming


10 / 2014 >3



12 / 2014 >4


productive


09/2014 – 12/2014

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Technology Highlights

2014 2015

DREAMS

SITE

L IV ING

WORKING

LEARNING

That is our mission: to be attentive, both internally and

externally. Like a seismograph, registering the technological

and social changes that we are helping to positively shape.

DR. PHIL . NICOLA LEIBINGER-KAMMÜLLERPRESIDENT AND CHAIRWOMAN OF

THE MANAGING BOARD

TH INKING

ACT ING

EFF IC IENCY

START-UP

CONNECT IV ITY

trumpf annual report 2014/15 · annual report 2014 /15 attentive > ... by josef darchinger of...

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