Actual state: Annual Report 2009

In 2009, Kuhn Group generated sales of CHF 948 million, a decrease of 14% or, excluding currency effects and acquisitions, 23% from the high figure a year earlier. Operating profit before impairment charges fell by 48% to CHF 71 million. With the credit crunch and lower prices for agricultural produce, farmers saw their income dwindle, which severely dampened their capital spending. As a result, order intake dropped by 40% to CHF 735 million. Excluding acquisitions, manpower was reduced by 19% or 665 full-time equivalents compared with 2008. Kuhn Group's share of group sales increased to 44% (2008: 39%).

CHF million	2009	2008
Order intake	735.4	1 224.0
Net sales	948.4	1 105.6
Order book	246.0	432.2
Operating profit (EBITDA)	109.4	157.0
Operating profit (EBIT) before impairment	71.1	136.9
Operating profit (EBIT)	7.4	136.9
Number of employees at 31 December	3 152	3 563
Average number of employees during year	3 438	3 384

Bucher Municipal generated sales of CHF 452 million for 2009, a year-on-year decline of 22% or currency-adjusted 17%. Order intake fell by 17% to CHF 437 million. Operating profit before restructuring costs was down 21% to CHF 30 million. The restructuring costs incurred in concentrating production of the Bucher Schörling brand in Switzerland and Latvia amounted to CHF 10 million. Compared with 2008, manpower was reduced by 12% or 178 full-time equivalents. Bucher Municipal accounted for 21% of group sales (2008: 21%).

CHF million	2009	2008
Order intake	436.5	528.4
Net sales	452.1	579.1
Order book	91.0	114.5
Operating profit (EBITDA) before restructuring	38.5	50.9
Operating profit (EBIT) before restructuring	30.4	38.0 1)
Operating profit (EBIT)	20.4	38.0
Number of employees at 31 December	1 365	1 543
Average number of employees during year	1 422	1 569

¹⁾ Including impairment charge of CHF 4.7 million.

Bucher Process was unable to escape the economic crisis. The division's sales decreased by 38% or currency-adjusted 35% to CHF 122 million, while operating profit declined by CHF 19 million year on year to CHF 5 million. Business in winemaking equipment saw the general restraint in capital spending exacerbated by early announcements of EU subsidies. No major orders for fruit juice equipment materialised. Bucher Process recorded order intake of CHF 116 million, down 31% from the high level a year earlier, and reduced manpower by 12% or 61 full-time equivalents. The division accounted for 6% of group sales (2008: 7%).

CHF million	2009	2008
Order intake	116.4	167.7
Net sales	122.0	195.2
Order book	33.2	40.1
Operating profit (EBITDA)	6.8	26.1
Operating profit (EBIT)	4.7	24.1
Number of employees at 31 December	459	520
Average number of employees during year	490	533

As a component supplier, Bucher Hydraulics was particularly hard hit by the economic downturn. Sales fell by 36% or currency-adjusted 34% year on year to CHF 320 million. Operating profit before impairment charges was CHF 14 million, down by CHF 43 million from the previous year's level. Order intake decreased by 42% to CHF 277 million. Compared with 2008, the division reduced manpower by 21% or 347 full-time equivalents. Its contribution to group sales was 15% (2008: 18%).

CHF million	2009	2008
Order intake	276.7	472.9
Net sales	319.8	497.0
Order book	45.6	85.4
Operating profit (EBITDA)	33.9	76.3
Operating profit (EBIT) before impairment	13.7	56.4
Operating profit (EBIT)	- 8.5	31.2
Number of employees at 31 December	1 317	1 664
Average number of employees during year	1 340	1 614

Emhart Glass was hit hard by the economic downturn due to the high capital intensity of the glass container industry. Sales fell by 27% or currency-adjusted 24% to CHF 304 million, and order intake was down 42% year on year at CHF 232 million. Operating profit came in at CHF 12 million, a decrease of CHF 23 million from the previous year's record figure. Last year was marked by great uncertainty, leading to projects and orders being deferred, scaled back or cancelled. Compared with 2008, the division reduced manpower by 18% or 193 full-time equivalents. It accounted for 14% of group sales (2008: 15%).

CHF million	2009	2008
Order intake	232.4	398.9
Net sales	303.7	418.3
Order book	91.5	171.2
Operating profit (EBITDA)	21.3	44.4
Operating profit (EBIT)	12.2	35.0
Number of employees at 31 December	871	1 064
Average number of employees during year	909	1 058