VOLK Achieves Yet Another Record in Fiscal Year 2008 and Moves Successfully into the Year 2009

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	VOLK achieves yet another record in fiscal year 2008

and moves successfully into the year 2009

Bad Waldsee, 30.01.2009 – The fiscal year 2008 was the most successful year so far in VOLK’s company history. In comparison to the previous year, sales revenues were increased by 22 percent. The average annual growth in the past four fiscal years thus came to a breathtaking 28 percent.

All strategic business fields contributed once again to this positive development. The export share amounted to approximately 35 percent and thus came in just narrowly behind the record figure from 2006. In the industrial vehicle segment, VOLK was able to register a significant increase in demand, primarily in the high performance classes. In this market segment VOLK is the first and so far only manufacturer worldwide to forge ahead in com-
pletely new performance dimensions with the two newly developed electric tow tractors EFZ 60 N and EFZ 80 N.

In the airport vehicle segment, several new customers were gained, among them the baggage handling com-




	In full activity even in dark times – VOLK moves into 2009 with double- digit growth rates, top financial figures and a full order book

companies Swissport and Losch Airport Services and the Munich, Saarbrücken and Friedrichshafen airports. In ad-
dition, VOLK received follow-up orders from existing customers, such as the baggage handling companies Avia-
partner, Cargologic, Air France Services Ltd. and the airport in Cologne-Bonn. The airport business has thus estab-
lished itself as a second foothold next to the industrial customer segment.

VOLK has made considerable investments again in 2009. The implementation of a new ERP system was one of the




	The technologicall heart of VOLK – In 2008 the design and development
	departments were combined in a new engineering office

largest single investments of the past year. With the in-
troduction of the fully integrated Microsoft Dynamics NAV Program, the technical platform for the future company development was also created.

In addition, VOLK consolidated its development and de-
sign activities in a new engineering office. With the new space, the conditions for innovations were further im-
proved. At the same time, the requirements for the per-
sonnel expansion of the engineering department were met.

Although many companies tend to neglect cost struc-
tures during times of rapid growth, VOLK has continued in the past years to work on optimizing processes and increasing efficiency. “We optimized the costs while we had the time to collect the best ideas for doing so,” says VOLK’s managing director Dr. Matthias Baur.

“As a result, our cost structures are so flexible that even if we had a decrease in sales this year of 30 percent, we

would still be in the black. That is reassuring to know,“ continues Dr. Baur, „but while many companies are forced to reduce their working hours in these days, we continue to work overtime.” In fact the sales in January 2009 were an amazing 38 percent higher than in January last year. In the midst of the most serious economic crisis ever, VOLK’s dynamic growth continues to accelerate.

In view of the high number of orders remaining from 2008 and the only slightly decreasing number of customer

inquiries, VOLK looks optimistically at the coming year. VOLK expects that it will continue to improve its compe-
titive position in the year 2009.

“This short breather will do us good after years of tre-
mendous growth,“ says Dr. Baur with certainty. “It allows us to gather strength and concentrate more on innova-
tions. The expansion of the technical infrastructure of our company will also continue in 2009.”

It now pays off that VOLK has always used its operative profitability to provide a financial cushion. The business equity of VOLK is now in the millions and the equity share rose in spite of the enormous growth rate to well over 30 percent. If one looks at the published financial statements of the main competitors, VOLK has by far the best equity base of the entire sector.

Experience shows that market shares are usually not reshuffled during good times, but during periods of economic hardship. In the coming months it will thus




	In fiscal year 2008, VOLK achieved another sales record – There was especially large growth in the sales of heavy tow tractors capable of pulling loads in excess of 50.000 kg

be of great significance to be able to act from a position of strength in order to take advantage of strategic opportuni-
ties. VOLK is certainly well-equipped for the job.


	innovation@work^®