AUGSBURG (dpa-AFX) - Kuka (KUKAY.PK, KUKAF.PK), a manufacturer of robotics and automation solutions, still expects to post a slight increase in revenue for the full year 2019 of about 3.3 billion euros and an EBIT margin of about 3.5% before final evaluation of the ongoing reorganization expenditure.
At the Annual General Meeting of KUKA, Chief Executive Officer Peter Mohnen said that he recommended to the Meeting that a dividend of 0.30 eurs per share be paid, which is less than in the previous year. But, he believes that the dividend will be appropriate, in view of the financial performance in 2018.
Mohnen noted that the company has put an efficiency program into place at the company with the goal of saving 300 million euros by 2021. The company aims to achieve around a third of the savings in 2019. This will involve a reduction in staff numbers. It has already reacted accordingly in other regions, where capacity can be adjusted at shorter notice.
Mohnen said around 150 jobs were cut at KUKA Systems at the Augsburg location in 2018. The company also had to reduce the number of temporary workers in Augsburg from a peak of around 500 in 2018 to around 100 at the end of February 2019 due to reduced capacity utilization.
This year, the company is planning to reduce a total of 350 more jobs in Augsburg out of total workforce of 4,000, affecting all companies. Cuts will be concentrated primarily on socalled indirect areas. On a smaller scale, it will also be adjusting the number of employees in direct areas.
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