Overview
- Germany is the focus of the review due to high energy and labor costs and heavy bureaucracy, though no site-level decisions have been made.
- Voith reported fiscal 2023/24 revenue of €5.23 billion and a €247 million net loss after years of underperformance versus peers.
- CEO Dirk Hoke said consultations with works councils will explore options and aim for solutions that avoid compulsory redundancies.
- The strategy centers on simplifying processes and investing in growth areas including service and digital offerings, industrial water treatment, recycling and heat recovery.
- The restructuring lands as the VDMA reports a third straight annual decline in German machinery output and prolonged weak factory utilization.