Embed Size (px)
Citation preview
1
Annual Report 2018
03 / WAREMA Group
06 / Letter from the Executive Board
08 / Our DNA
10 / We create living spaces
12 / Our fascination with innovation and technology
14 / We turn plastic visions into reality
16 / Report of the Supervisory Board
19 / Key figures for the WAREMA Group
19 / Imprint
Contents
2 WAREMA Group Annual Report 2018
3
The WAREMA GroupThe WAREMA Group is a strong team of companies divided into two divisions: Sun & Living Spaces and Plastics & Engineering. We enjoy a leading market position on the strength of the solutions we provide and the innovations we develop. In both of our divisions we place equal importance on pursuing a cooperative partnership with our customers, growing our competencies, and incorporating innovative technologies. At the same time, we are also focused on future trends and market developments.
The unifying goal of all WAREMA Group brands is to satisfy demanding customer requests. More than 3,800 employees around the world strive to achieve this goal in a corporate culture characterised by openness, respect and mutual appreciation.
WAREMA, the foundation of what is today the WAREMA Group, was started in 1955 by Hans-Wilhelm Renkhoff. To this day, the Group has remained a family-owned and -operated business. Shared values, the utmost attention to quality, flexibility, and rapid decision-making processes have been the organisa-tion's hallmark and the keys to its success since inception. Together with courage and passion, these attributes form the basis for finding intelligent and individual answers to the challenges of the future.
4 WAREMA Group Annual Report 2018
The solutions and services we provide through our Sun & Living Spaces division play a major role in creating an atmosphere of well-being and improving people's quality of life. Here our offer-ings range from sun and weather protection to the design and creation of living spaces. We ensure that everything we provide fits in perfect harmony with people's wants and needs.
The brands of our Sun & Living Spaces division rank among the international market leaders. We are a pioneer in the areas of smart technology, innovative materials and forward-thinking designs. Our solutions provide people with a greater sense of well-being and added quality of life – whether it's in their own homes and gardens, at work or seated outdoors at a restaurant.
We are open to trying new things, and our approach to challenges and ideas is full of enthusiasm. As part of this philosophy, we maintain constant dialogue with people and listen to what they want – so that we can better improve our products and services. We are a market innovator, and are constantly looking to further grow ourselves and our company.
Creating added quality of life
Sun & Living Spaces
4 WAREMA Group Annual Report 2018
In our Plastics & Engineering division, we take customer re-quests and turn them into innovative plastics solutions. Using our competencies and expert knowledge, we work closely with our partners in the automotive, medical technology and sun shading technology industries to develop high-quality products for the most demanding applications. Our high-precision mould design operations form the basis for making these concepts a reality.
In addition, we also draw on our expertise and passion to develop and build cutting-edge custom machines and intelligent automation solutions for the plastics processing industry.
When it comes to certified processes, cleanroom conditions, surface technologies or assemblies, we are passionate about reliably meeting any requirements our customers may have. Whether it's innovative products, subassemblies, application development or the most advanced production technologies: with us customers always realise their visions and gain valuable competitive advantages in their markets.
Creating added quality of life Driving innovation
Plastics & Engineering
5
6 WAREMA Group Annual Report 20186 WAREMA Group Annual Report 2018
Letter from the Executive Board
The WAREMA Renkhoff SE Executive Board: Angelique Renkhoff-Mücke (Chief Executive Officer), Harald Freund (Vice Chairman of the Executive Board) and Michael Müller (Executive Vice President Manufacturing).
7
The WAREMA Group currently finds itself at an important point in its development. The entire past fiscal year was a year of new horizons for us. In an environment characterised by digitalisation, skilled labour shortages, social changes and increasing speed, we are aware of the need to think and act differently. We need to respond by implementing a number of different measures, applying new methods and, last but not least, adding new competencies. With these changes, the entire WAREMA Group has gained plenty of momentum, which in turn has allowed us to adapt even more quickly and flexibly to changing conditions, and thus remain successful in the marketplace.
We have identified the challenges of the future and I firmly believe that we are on the right path. For proof of this we can simply look to the past fiscal year. In the Sun & Living Spaces division we opened 2018 optimistically, with full order books. Although things got off to a somewhat slower start, the continued growth and high demand in the construction industry had a positive effect on our business performance. In the Plastics & Engineering division we benefitted from long-term projects and enormous confidence in our capabilities. Our Medical Technology business unit also remains on track for continued growth.
We were able to achieve sales growth of close to 11% across the entire WAREMA Group.
However, positive trends like these are only possible when everyone pulls together. And that is why I would like to take this opportunity to express, both person-ally and on behalf of the entire Executive Board and General Management, our sincere gratitude to all of you – our valued employees – and to all of our cus- tomers and business partners. Your trust, dedication and loyalty are what make the WAREMA Group able to constantly grow and achieve continued success as an organisation.
Together we are confidently embarking on the journey into the world of tomorrow and I am happy to know that you will be there with us for the ride.
With best wishes
Angelique Renkhoff-Mücke CEO
Partnership
Long-term success and a consistently
high level of performance can only be
achieved through cooperation.
8 WAREMA Group Annual Report 2018
Our DNA
8 WAREMA Group Annual Report 2018
The WAREMA Group is an organisation characterised by continuous progress. And though our corporate culture adapts to external conditions and changes in society, we will never forget our identity or our concept of who we are. This under-standing is based on the high expectations we set for ourselves, and therefore for the products and services we offer our partners. We are passionate about creating tailor- made solutions that deliver exactly what customers want.
Solutions that inspire
We work closely with our customers and partners to create sophisticated individual solutions.
9
Values
Our understanding
of who we are unites all
WAREMA Group employees.
Faster, more digital and increasingly complex: society and the world of business are in a constant state of flux. We embrace these changes and continuously seek to adapt, both the way we work and our internal processes. We respond by collaborating across all departments and hierarchies, employing agile methods, remaining open to new things and maintaining a determined approach.
The point of departure for our journey into the future was the management conferences held at the start of 2018 with a focus on transparency and networking. The open dialogue about our strategic alignment then continued with the added participation of our employees.
The entire process rests on a valuable basis of welcoming and trusting interactions as well as existing values such as respect and mutual appreciation.
Facing the unknown with determination
We work closely with our customers and partners to create sophisticated individual solutions.
Agile methodologies like SCRUM in conjunction with Design Thinking enable us to implement and complete projects more efficiently.
The open dialogue, which formed a central part of the management conference, was later expanded to include the entire organisation.
We create living spaces
10 WAREMA Group Annual Report 2018
The past fiscal year saw us expand our offerings with the addition of new products and services. From now on the Sun & Living Spaces division will include not only SunLight Management, our core competency, but also the design and creation of living spaces. People's well-being and quality of life is always in the forefront of our mind when we create places of comfort – be they in people's own homes, at work or for outdoor seating at restaurants.
11
The trend of extending living spaces outside continues unabated. People use balco-nies, patios and gardens for relaxing, working, cooking and much more. The main theme of the 2018 R+T, the world's leading trade fair for the sun shading systems industry, was also centred around outdoor living. In addition to numerous other innovations, WAREMA presented its newly developed, high-grade Lamaxa slat roofs and new Perea pergolas at the event. Not only do these new products deliver reliable sun shading and weather protection, they also represent added outdoor living space.
Our outdoor living lineup has also been enhanced by the addition of top-quality parasols from the CARAVITA brand. The new EXTERRA brand is focused on providing consulting and services for all aspects related to the design of outdoor foodservice spaces.
At home on the patio and in the garden
The WAREMA Designer app utilises augmented reality to provide a smart solution for configuring and virtually previewing customers' desired awnings or Lamaxa slat roofs.
Our fascination with innovation and technology
12 WAREMA Group Annual Report 2018
13
Throughout our value chain in the Sun & Living Spaces division, we use the latest technology whilst further digitalising our processes. We constantly invest in ma-chinery, systems, software and buildings and expand our capacity in order to more consistently keep pace with larger market fluctuations. In line with this strategy, one important step over the past year was the establishment of an additional production site in Pécs, Hungary. This new facility is manufacturing WAREMA brand products to the very same high standard of quality used in our German plants.
Outside of our organisation we are also involved in promoting digital development and collaboration in the construction sector. As a founding member of BE5, we work together with well-established companies, start-ups, talented individuals, and other important stakeholders to advance digital transformation in the building industry.
Networking the value chain
Sustainability
Our intelligent sun
shading solutions reduce CO2 emissions
from buildings.
Together with participants from the construction value chain, BE5 is actively sha-ping the future for the construction and operation of buildings and infrastructure.
Light is life Sun shading systems and Smart Home solutions from the WAREMA brand symbolise the balance between visual privacy, glare control and a view to the outside world, and also provide comfort and an atmosphere of well-being.
In both the private sphere and the work environ-ment, daylight has a positive effect on people's comfort and productivity. Through our collabora-tion with Trilux, a specialist for tailor-made light-ing solutions, we are co-developing the perfect symbiosis of artificial light and daylight.
We turn plastic visions into reality
14 WAREMA Group Annual Report 2018
15
Our companies in the Plastics & Engineering division develop and produce surface-finished interior parts for the automotive industry, functional and technical subassemblies for medical equipment, and plastic parts for external and internal sun shading systems.
By investing to expand our cleanroom, we have allowed our Medical Technology busi-ness unit to enlarge its portfolio. Our many years of experience with multi-component injection moulding and overmoulding of insert components can now also be put to use in the cleanroom. Alongside our new injection moulding machines we are now also using 6-axis robots and special auto- mation solutions planned and realised by our in-house Mechanical Engineering department.
Efficient project execution with cutting-edge technology Precision
Numerous certifications attest
to our high standards of quality
and precision.
Technology meets handwork where subassemblies are completed.
Report of the Supervisory Board
16 WAREMA Group Annual Report 2018
The WAREMA Renkhoff SE Supervisory Board: Dr Axel Bauer (Chairman), Sabine Manig, Manfred E. Neubert (Vice Chairman), Dr Hanns-Peter Ohl, Dr Christine Alsmann (Employee Representative), Alexander Thauer (Employee Representative)
17
Fiscal year 2018 brought changes to the lineup of the WAREMA Renkhoff SE Supervisory Board on the shareholder and em- ployee representative sides. With his term expiring on 24 April 2018, Thomas Benz decided to retire from the Board after many years of service to the company.
At the General Meeting on 24 April 2018, Sabine Manig was elected to serve as a shareholder representative, and existing shareholder representatives Dr. Axel Bauer, Manfred E. Neubert and Dr. Hanns-Peter Ohl were re-elected to their positions on the Board. All of the employee representative slots on the Supervisory Board were up for election. Alexander Thauer was chosen to replace Bernd Ruppert on 24 April 2018. Dr. Christine Alsmann was re-elected to another term as Employee Repre-sentative. In the Supervisory Board meeting held on 24 April 2018, Dr. Axel Bauer was unanimously elected as the Board's Chairman and Manfred E. Neubert was chosen to serve as Deputy Vice Chairman.
In fiscal year 2018, the WAREMA Renkhoff SE Supervisory Board regularly advised the Executive Board and monitored management activities. In doing so, the Supervisory Board adhered to the tenets of responsible and effective corporate governance. The Executive Board provided the Supervisory Board with extensive information about the course of business
and the economic state of affairs of the companies in the WAREMA Group in four ordinary meetings held on 23 April 2018, 24 April 2018, 18 September 2018 and 11 December 2018, and in monthly meetings conducted as teleconferences. In addition, the Supervisory Board took decisions in five cases by circular resolution.
The Executive Board regularly provided the Supervisory Board with prompt and thorough information in written and verbal re- ports. These reports included all information relevant to strategy development, planning, corporate business performance during the fiscal year, the position of the Group, the overall risk situa-tion, risk management and compliance. The Supervisory Board received regular briefings on the economic situation of the com- pany and its individual business divisions, on business develop- ments and on corporate planning, and it consulted with the Executive Board on both the state of business and the strategic focus at the company.
Management activities, particularly those requiring the approval of the Supervisory Board, were reviewed in detail by the Board based on written reports submitted by the Executive Board. The Supervisory Board then discussed these actions with the Execu-tive Board. Every decision proposed by the Executive Board was met with the approval of the Supervisory Board.
18 WAREMA Group Annual Report 2018
The annual financial statements and the consolidated finan- cial statements for WAREMA Renkhoff SE for the year ended 31 December 2018, as well as the management reports, were audited by the Zimmermann, Steiner & Partner mbB accounting and tax advising firm based in Augsburg, Ger- many, which was selected during the General Meeting to review the financial statements for fiscal year 2018. These financial statements were certified with an unqualified audit opinion. The Supervisory Board closely examined the documents submitted by the Executive Board and the auditor's reports, which were available to all members of the Supervisory Board.
The Supervisory Board approves the results of the year-end financial audit and accepts the annual financial statements prepared by the Executive Board for fiscal year 2018 as well as the consolidated financial statements and the management reports. The annual financial statements for fiscal year 2018 are thereby adopted.
The Executive Board's proposal for the appropriation of the annual net profit has been reviewed by the Supervisory Board, which also discussed the recommendation at length with the Executive Board. On the basis of the Supervisory Board's own review, and after taking into account the earnings situation and financial position, the Supervisory Board has
endorsed the proposal for the appropriation of profit submitted by the Executive Board.
The conclusive results of the review by the Supervisory Board give no occasion for any objections.
The Supervisory Board wishes to thank the Executive Board and the management of the WAREMA Group, as well as all of the employees and employee representatives, for their outstanding personal commitment and excellent performance over the past fiscal year.
Marktheidenfeld, 15 April 2019
Dr Axel BauerChairman of the Supervisory Board
19
Published by WAREMA Renkhoff SE Hans-Wilhelm-Renkhoff-Straße 2 97828 Marktheidenfeld, Germany Tel +49 9391 20-0 E-Mail: [email protected] www.warema-group.com
Contact Sandra Mairon Tel +49 9391 20-2420 E-Mail: [email protected]
Design and realisation albert+köpfe Werbeagentur www.albertundkoepfe.de
Photos WAREMA
Imprint
Key figures for the WAREMA Group
in TEUR 2018 2017 2016 2015 2014
Earnings
Revenue 509,466 460,407 445,721 418,948 403,956
(Adjusted) operating income 508,772 470,120 448,989 421,905 417,905
Personnel costs 217,827 202,223 194,868 187,711 186,637
Cost of materials 197,035 180,819 171,957 157,209 156,819
(Adjusted) operating result/EBIT 28,371 24,437 24,686 16,473 18,272
Net income 13,626 11,910 11,258 4,079 9,125
Financial position & cash flow
Fixed assets 157,047 144,231 118,335 115,206 123,141
Current assets 150,083 149,120 150,655 140,578 127,547
Equity 145,592 136,089 128,571 119,396 119,317
Total assets 309,466 295,559 271,073 257,445 252,496
Investments (without long-term financial assets) 28,957 17,892 19,169 16,678 16,292
Depreciation and amortisation 16,045 16,549 15,958 15,504 15,208
Cash flow from operating activities 31,270 26,599 38,129 29,143 33,032
Key figures
Return on sales before taxes (%) 4.2 4.2 3.8 2.1 3.7
(Adjusted) EBIT as % of sales 5.6 5.3 5.5 3.9 4.5
Equity ratio (%) 47.0 46.0 47.4 46.4 47.3
WAREMA Renkhoff SEHans-Wilhelm-Renkhoff-Straße 2 • 97828 Marktheidenfeld • Germanywww.warema-group.com • [email protected] 87
7712
/5.2
019
Rig
ht to
mak
e ch
ange
s re
serv
ed,
prin
ting
erro
rs a
nd d
iscr
epan
cies
exc
epte
d.
