Schmidt + Clemens Group (S+C), which operates worldwide, posted positive financial results in the past business year. S+C in 2014 recorded consolidated sales of EUR 278M. Total assets, at EUR 151M, was on the level of the previous year. At EUR 198.5M, the consolidated group’s order backlog is at a high level.
“Sales were about 10% below last year”, reports Jan Schmidt-Krayer, the company’s managing partner. “The reasons for this were the low raw materials prices and the close-down of unprofitable divisions. With our product portfolio and thanks to prudent actions we have nonetheless attained very good results.” Like last year, the major portion of the profits was generated by its foreign subsidiaries. Due to heavy investments in its new plant in Malaysia, fixed assets rose by EUR 16M while circulating assets sank by EUR 15M. “Besides the difficult working parameters in Germany, the debt crisis in the Eurozone, political conditions in the Middle East and the war in Ukraine have had their impact on the 2014 business year”, according to Schmidt-Krayer. “But we are still working very intensely on massively expanding our consolidated sales by 2019. We will be generating this growth from the new market for specialised piping in the onshore and offshore fields as well as from our burgeoning business in services.”