Actual state: Annual Report 2007

In 2007 Kuhn Group generated sales of CHF 929 million. Growth was very encouraging at 19 % and was supported by a positive environment in the agricultural sector. The rising demand for food and the growing trend towards renewable energy sources resulted in higher prices for agricultural products and made farmers more willing to invest. Order intake totalled CHF 1 045 million, surpassing the previous year by 30 %. The operating profit rose to CHF 108 million from CHF 42 million, a striking increase. Kuhn Group's share in group sales was 38 % up from 37 % in 2006.

CHF million	2007	2006
Order intake	1 045.3	805.5
Net sales	929.2	778.7
Order book	333.1	210.7
Operating profit (EBITDA)	126.8	68.2
Operating profit (EBIT)	107.7	41.6
Number of employees at year end	3 077	2 748
Average number of employees during year	2 956	2 822

Sales of Bucher Municipal increased by 4 % to CHF 557 million in 2007 in a favourable economic environment. Adjusted for currency effects, sales grew by 1 %, and adjusted for acquisitions and disposals of business activities, the growth rate was 4 %. The increase was based on several major public-sector contracts and on the division's excellent performance in Western and Eastern Europe. Order intake totalled CHF 603 million, an increase of 12 % over the previous year. With an operating profit of CHF 37 million, the division achieved an EBIT margin of 7 %. Its share of Group sales was 22 % compared with 25 % in 2006.

CHF million	2007	2006
Order intake	602.9	536.3
Net sales	556.5	537.0
Order book	178.1	126.7
Operating profit (EBITDA)	45.7	37.7
Operating profit (EBIT)	36.9	28.9
Number of employees at year end	1 535	1 482
Average number of employees during year	1 508	1 528

In 2007 Bucher Process increased sales revenues by 24 % to CHF 174 million. When adjusted for currency effects, the increase was 21 %. Order intake at Bucher Process totalled CHF 202 million and exceeded the previous year by 33 %. The operating profit rose to CHF 19 million from CHF 11 million - an astonishing increase of 78 %, far greater than the growth in sales. This outstanding business activity was driven by both wine and apple juice production equipment.

CHF million	2007	2006
Order intake	201.6	151.6
Net sales	173.8	140.0
Order book	68.7	39.4
Operating profit (EBITDA)	21.0	12.9
Operating profit (EBIT)	19.0	10.7
Number of employees at year end	490	506
Average number of employees during year	514	533

Bucher Hydraulics continued the positive business trend of recent years. In 2007 the division increased sales by 26 % to CHF 387 million. The operating profit rose disproportionately by 51 % to CHF 59 million. The order intake of CHF 414 million again surpassed the prior year's total, by 31 %. All the division's product segments posted high growth rates and contributed to the excellent result. By acquiring the US company Monarch Hydraulics in Michigan, the division strengthened its base in North America. The di vision accounted for 16 % of Group sales up from 15 % in the previous year.

CHF million	2007	2006
Order intake	414.0	315.8
Net sales	386.6	307.7
Order book	93.7	58.9
Operating profit (EBITDA)	70.8	49.9
Operating profit (EBIT)	58.5	38.7
Number of employees at year end	1 303	1 164
Average number of employees during year	1 259	1 137

Emhart Glass increased sales by 27 % to CHF 420 million in 2007 in a very strong market environment. The increase was 22 % after adjustment for acquisitions. Order intake reached CHF 441 million, outpacing the previous year by 25 %. The economic tail wind and the global shortage of glass containers were the dominant factors in this encouraging sales development. The operating profit exceeded the previous year's result by 43 %, rising to CHF 33 million. High capacity utilisation, increased efficiency and higher absorption of fixed costs led to this improved result. The division accounted for 17 % of group sales up from 16 % in 2006.

CHF million	2007	2006
Order intake	440.5	353.9
Net sales	419.6	331.5
Order book	197.7	169.5
Operating profit (EBITDA)	41.7	30.0
Operating profit (EBIT)	33.2	23.3
Number of employees at year end	1 063	862
Average number of employees during year	1 009	847