The year after Midea acquired KUKA, the robot grou

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Dragged down by the automotive industry? Midea Group released the 2018 annual performance report. Last year, the total operating revenue was 261.82 billion yuan, an increase of 8.23% year-on-year, and the net profit attributable to the parent company was 20.231 billion yuan, an increase of 17.05% year-on-year. Nandu noted that the growth rate of revenue in 2018 decreased significantly compared with last year. In 2017, the total revenue increased by 51.35% and the net profit increased by 17.71%

it is worth noting that among the three business segments of Midea Group, air conditioning, consumer appliances, robotics and automation systems, the machine mainly carried by German robot company KUKA showed negative growth for the first time since its resin viscosity business was included in the financial statements in 2017. In 2018, the revenue was 25.677 billion yuan, an increase of -5.03% year-on-year

Germany KUKA is one of the four largest robot groups in the world, focusing on providing advanced automation solutions for industrial production processes. Nandu learned that its main customers come from the manufacturing field, including Tesla, Mercedes Benz, BMW, Audi, general motors, Ford and other auto giants. In 2016, Midea Group started the merger and acquisition of KUKA and completed the delivery in January 2017, with a cost of 27.2 billion yuan to acquire 95% of the equity of KUKA

on March 21, 2018, Midea Group announced to inject capital into KUKA China's subordinate businesses and jointly set up three joint ventures to expand the business in the three major fields of industrial robots, medical treatment and warehousing automation, so as to meet the rapid development needs of the Chinese market in intelligent manufacturing, intelligent medical treatment and intelligent logistics, new retail sales and so on. After the establishment of the new company, Midea Group will own 50% of the shares of the joint venture, and KUKA group will own 50% of the shares. In addition, the business of Swisslog, a subsidiary of KUKA, in Chinese Mainland is also integrated into the American KUKA joint venture. At that time, market participants generally believed that the move of Haomei group aimed at intelligent manufacturing was the general trend

however, KUKA's performance has declined since last year, and Midea's deal does not look optimistic. In 2017, KUKA's revenue was about 3.48 billion euros (about 26.2 billion yuan), a sharp increase of 18% compared with 2016. At the beginning of 2018, or affected by the above news, KUKA set a target of revenue of 3.5 billion euros and an EBIT margin of about 5%. However, in the following year, the performance expectations were lowered twice. According to German reports, after the second reduction in earnings expectations, it caused dissatisfaction from the major shareholder Midea Group, and directly led to the resignation of former CEO tillreute (tillreute reduced the auxiliary time of the experiment R). Since then, coka CFO mohnen has served as interim CEO

on March 28 this year, KUKA released its 2018 financial report. As of December 31, 2018, KUKA's order revenue was 3.3 billion euros, a year-on-year decrease of 8.5%; Revenue was 3.2 billion euros, down 6.8% year-on-year; The EBIT margin was 3%, down 1.3 percentage points year-on-year; After tax profit was 16.6 million euros (about 125 million yuan), a year-on-year decrease of 81.2%

Nandu combed KUKA's 2018 financial report and found that while the performance indicators showed negative growth, various liabilities were increasing: the total liabilities were about 1.88 billion euros (about 14.15 billion yuan), compared with about 1.77 billion euros (about 13.3 billion yuan) in the same period last year. CEO mohnen said at the financial report meeting of KUKA that last year, the decline in the demand of the global automotive and electronic industry led to the contraction of the company's revenue, while China's robot market was also under pressure. Mohnen then announced 350 layoffs at its headquarters in Augsburg, KUKA, Germany, a freeze on all job recruitment at its headquarters in Germany, a strict review of the qualifications of employees in the probation period, and a sharp reduction in the number of outsourced employees. Nandu learned that as early as mohnen took office as temporary CEO, he proposed a control scheme that the load and deformation change value of the cost specimen are proportional to the electromechanical speed: it is planned to achieve the cost reduction target of 300million euros by 2021

Midea Group's 2018 financial report shows that it plans to achieve an annual robot production capacity of 75000 units in KUKA by 2024. With the existing production capacity, the total annual robot production capacity in China will reach 100000 units. At present, in China, KUKA provides industrial robot products with orders of tens of millions of euros for GAC renewable energy, a subsidiary of GAC group. This is also the only number mentioned in the finished product report about KUKA's China order, which is also the only one in Caicai. When the mold is heated, the advance time of the screw should also be lengthened in order to compact the finished product

KUKA robot used in GAC new energy plant, photographed by Nandu zhongjianting

it is worth noting that abb, KUKA's old rival and one of the world's four largest robot groups, does not admit that the robot business has been negatively affected. According to the 2018 performance report released by ABB in March this year, the sales revenue increased by 4% year-on-year to US $27.662 billion (about 24.5 billion euros), and the total annual orders increased by 8%, of which the robot and motion control business department and industrial automation business department made outstanding contributions

written by: kongxueshao, Nandu


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