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Festo remains on course for growth

Fiscal year 2007
Festo remains on course for growth

Festo AG one of the world’s leading suppliers of automation technology continues to enjoy global growth. In its past fiscal year 2007, the company posted consolidated sales of over 1.65 billion Euro and thus achieved growth of 8.5 %. Two thirds of total sales revenue was generated outside Germany. There was an increase in demand for handling technology, ready-to-fit and customized solutions. In the new business fields “Electric Drives” and “Process Automation”, as well as in many other areas, growth reached double figures. The company’s didactic segment also remains on course for growth. Training and consulting services for industrial customers, as well as learning system equipment, have generated total growth of 45 % in the last two years. Festo once again raised investment in the development of new products and services in 2007. Intelligent components and systems, adaptive solutions for industrial automation, sector- and customer-specific solutions, as well as engineering solutions in mechatronics, are the top trends for the future of manufacturing. A further area of focus was the development and implementation of products and solutions for process automation in the field of water/waste water, hygiene applications, pharma and food. Festo also underlined its innovative strength with its continued development of nano- and microtechnology, as well as wireless technologies. The R&D budget remained steady at 7.5 % of sales in 2007. Subject to moderate developments on the energy and currency markets, the Executive Board expects further year-on-year sales growth of around 6 % in fiscal year 2008.

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