1923–
2023
100 YEARS OF TRUMPF
ANNUAL REPORT 2022|23

TRUMPF GROUPKEY FIGURES
2021/222022/23

Change from2021/22 inpercent

SALES REVENUES

4,222.8

5,364.5+27.0

O R D E R I N TA K E

5,577.4

5,088.0

–8.8

468.4

615.4

+31.4

EBIT MARGIN

11.1

11.5

+3.4

INVESTMENTS

218.2

315.7

+44.7

RESEARCH AND
DEVELOPMENT COSTS

448.0

476.3

+6.3

B A L A N C E S H E E T T O TA L

4,586.1

5,019.1+9.4

EQUIT Y2,387.1

2,700.4

+13.1

52.1

53.8

+3.3

2,500.1

2,709.9

+8.4

54.5

54.0

–0.9

16,554

18,352+10.9

in million euros

in million euros
EBIT

in million euros

in percent

in million euros

in million euros
in million euros

in million euros
E Q U I T Y R AT I O

in percent

ECONOMIC EQUIT Y*

in million euros

E C O N O M I C E Q U I T Y R AT I O

in percent

E M P L OY E E S O N J U N E 3 0

number* Equity capital plus long-term loans from partners

1923–
2023
100 YEARS OF TRUMPF
ANNUAL REPORT 2022|23

1923–
2023
100 YEARS OF TRUMPF
ANNUAL REPORT 2022|23

2

EDITORIAL

10 0 Y E A R S O F T R U M P F

31923 – 2023
DEAR READERS,TRUMPF is one hundred years old!
For my colleagues on the Managing Board and me, this is more than ever anoccasion to say thank you: Thank you to our customers and partners who haveremained loyal to us for a century, in good times and in not so good times! Thankyou to our over 18.000 employees at more than 80 locations worldwide, who
once again gave their all for TRUMPF this past fiscal year 2022/23! Thank you
to the many people who have contributed their passion and imagination to ourcompany on its way from a ‘garage factory’ in Stuttgart in 1923 to a global technology company!
Anniversaries should not be a time for nostalgia, but an incentive to look to the
future. Nevertheless, as our centennial year draws to a close, this annual report
is dedicated to milestones in our corporate history. Optimism remains a duty – aphrase that my father quoted throughout his life in reference to Erich Kästner’s
famous short novel “Fabian”, set at the height of the Great Depression at the endof the 1920s. It applies all the more to what lies ahead in a world that is changing.
The fact that we had a very good fiscal year with an (albeit declining) order intake
of 5.1 billion euros and rising sales revenues of 5.4 billion euros despite ongoing
eﬀects from the coronavirus pandemic, supply chain problems, and the consequences of the Russian war of aggression against Ukraine, speaks for TRUMPF’s
strength and ability to adapt. Earnings before interest and taxes of 615 million
euros and a margin of 11.5 percent top oﬀ our fiscal year 2022/23.
I hope you enjoy this journey through 100 years of TRUMPF in words and pictures.
Nicola Leibinger-KammüllerEDITORIAL

4

CONTENTS

10 0 Y E A R S O F T R U M P F

5

2023

CONTENTS
1923–1945 HOW IT ALL BEGAN

Page 8

COMPANY

Page 100

1945–1962 NEW BEGINNINGS AND ECONOMIC MIRACLE

Page 16SUSTAINABILITY

Page 115

1963–1977 TRUMPF DISCOVERS THE WORLD

Page 26

GROUP MANAGEMENT REPORTPage 129

1978–1988 ERA OF THE INDUSTRIAL LASER

Page 38

CONSOLIDATED ANNUAL FINANCIAL STATEMENTS

Page 149

1989 –1999 FALL OF THE BERLIN WALL AND REUNIFICATION

Page 46

IMPRINT

Page 176

2000 –2010 MILLENNIUM PERIOD

Page 58

2011–2022 AGE OF MICROELECTRONICS

Page 702023 CENTENNIAL YEAR

Page 78

LOOKING TO TOMORROW THE FUTURE WITH TRUMPF

Page 88

1923

2023
WO R K I N G I N T H E D I GI TA L AGE

Today, production at TRUMPF
is digitally networked
throughout. Working on computers is part of the daily
routine and improves theefficiency and quality of
production.

E MP LOYE E AT A U N I V E R SA L
MI LLI N G M AC H I NE
Milling and grinding machineswith a flexible shaft form
the product portfolio when
Christian Trumpf becomes apartner in the Julius Geiger
mechanical workshop.

1923

8

1923-1945

Stuttgart
Weilimdorf

10 0 Y E A R S O F T R U M P F

9HOWIT ALL
BEGAN

Empire State Building

Time Magazine

Fritz Lang “Metropolis”

Orson Welles “Citizen Kane”

VW Beetle
Stock market crash

Weimar Republic

Second World War

Thomas Mann Nobel Prize in Literature
Marcel Breuer “Wassily Chair”
Charlie Chaplin “Modern Times”
Mies van der Rohe “Barcelona Pavilion”

Erich Maria Remarque “All Quiet on the Western Front”

Hyperinflation
Pablo Picasso “Guernica”

Mickey Mouse
Konrad Zuse Z3 computer

Weissenhof Estate Stuttgart

Heisenberg, Born, and Jordan: Fundamentals of quantum mechanics

1923–
1945

T H E FI R ST N E W LO C AT I O N

In July 1933, Christian Trumpf
acquires the factory building of
José del Monte’s insolvent cardboard
box factory at Josenhansstrasse 11
in the Stuttgart suburb of Weilimdorf.
The cost: 30,000 Reichsmarks.

8

1923-1945

10 0 Y E A R S O F T R U M P F

WOHStuttgart
LLA TI
Weilimdorf
NAGEB

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elteeB WV

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raW dlroW dnoceS

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esuoM yekciM”acinreuG“ ossaciP olbaP

retupmoc 3Z esuZ darnoKtragttutS etatsE fohnessieW

scinahcem mutnauq fo slatnemadnuF :nadroJ dna ,nroB ,grebnesieH

–3291
5491

T H E FI R ST N E W LO C AT I O N
In July 1933, Christian Trumpf
acquires the factory building of
José del Monte’s insolvent cardboard
box factory at Josenhansstrasse 11
in the Stuttgart suburb of Weilimdorf.
The cost: 30,000 Reichsmarks.

910

1923-1945

10 0 Y E A R S O F T R U M P F

11

M A N UA L WO R K
Employees in the Weilimdorf production hall in the mid-1930s producing
universal machines with flexible
shafts. Various attachments for theshafts can be seen on the workbench:
milling cutters, files, grinders
and drills.

12

1923-1945

Solidarity

10 0 Y E A R S O F T R U M P F

HOWIT ALLBEGAN“We are impoverished, so impoverished. The number of those who cannot earn their daily bread has
never been greater.” This is how Chancellor Wilhelm
Marx describes the dramatic economic situation in the
Weimar Republic in his Christmas speech in 1923. An
egg that already costs 800 Marks in June would see its
price go up to 320 billion Marks by the end of the year.
To be able to keep up with this drastic drop in the value of money, employers pay wages twice a day.
In the middle of this hyperinflation, Christian Trumpf
joins Julius Geiger GmbH – a small mechanical workshop with five employees at Gutenbergstrasse 38 in
the Stuttgart-West district. The young businessman
doesn’t secure his investment in the company withworthless money, but with 29 vices and 1,300 kilograms of wire. The small company needs this wire forthe production of flexible shafts, which are initiallyused by dentists for their devices. Further development for the industrial processing of metal and woodsoon takes place.

S E C U RI TY F O R THE WORK F ORCE
Employees in production, during a break in the yard at the Weilimdorf factory,
and testing the machines. Bottom right: Trumpf (2nd from right), was born in1892 in Forchtenberg in the Hohenlohe district. The picture shows him in 1934 on
the annual company outing standing among his workforce. Despite the patriarchal
management style common in those days, Christian Trumpf attaches great importanceto a sense of solidarity among his employees and social security. In 1938, hesets up a company provident fund for his retired workers. From 1952 onwards, hepays out a profit share.

13

T HE G OL D EN T W EN T I ES
Economic stabilization follows, and with it the Golden
Twenties, a time shaped by technology, utopias, music, film, architecture and art. Besides Berlin, Stuttgart
is also a center of the avant-garde: architect Le Corbusier takes part in the construction of the Weissenhof Estate, painter Willi Baumeister achieves international fame, and actress and singer Josephine Baker
performs in the Friedrichsbau Varieté theater. In thisspirit of optimism, Berthold Leibinger’s parents, Emmaand Anton Leibinger, open a shop selling East Asian
antiques in the Königsbau in the center of Stuttgart.
The Trumpfs, who are art collectors, visit the shop
frequently, and their shared passion for Japan leads toa friendship between the two couples. Anna Trumpf
becomes godmother to Berthold Leibinger, who isborn in 1930.
Times are golden for Christian Trumpf and his mechanical workshop too. He is quick to recognize theimportance of innovations and international sales,
and the company has his entrepreneurial foresight tothank for its rapid rise to a small, medium-sized industrial company with 70 employees in 1928.

As the global economic crisis looms in 1929, however,the company goes through diﬃcult times, with declining
orders and short-time working becoming the rule. But
despite a significant drop in sales and losses, Trumpf is
optimistic about the future. In 1933 he decides to movethe company headquarters from the cramped backyard in
Stuttgart to Weilimdorf, where the factory building of aformer cardboard box factory is for sale. In the new premises, Trumpf expands the company’s product portfolio in
1934: the first electric hand shears that are developed canbe used to cut sheet metal up to a thickness of 1.2 mm.
The business success of Christian Trumpf ultimately resultsin the partners renaming the company to “TRUMPF & Co.
formerly Julius Geiger” in 1937.
DA R K T I MES
Like many mechanical and electrical engineering companies flourishing during the Second World War, TRUMPF
is involved in the National Socialist armaments industry.
The company maintains its product range of electric handshears and flexible shafts even during the war. All major
aircraft factories and some car manufacturers too are buyers of manual plate shears.
But the company also contributes directly to wartime
production, producing foot pumps for aircraft as a sub-supplier to Mahle subsidiary Elektron-Co. mbH. TRUMPF maintains its entire production throughout the war.
Among the up to 150 employees are 34 French and two
Italian forced laborers. The so-called ‘civilian workers’ live
directly on the company premises, in a specially built hut.
They leave the company immediately after the invasion of
French troops in April 1945.
At Berthold Leibinger’s personal request, TRUMPF joins
the German business foundation initiative “Remembrance,
Responsibility and Future” in December 1999. The foundation contributes to the financial compensation of former
forced laborers.

1923–
1945

12

1923-1945

WOH

Solidarity
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.srerobal decrof

S E C U RI TY F O R THE WORK F ORCE

–3291
5491

-mun ehT .dehsirevopmi os ,dehsirevopmi era eW“
sah daerb yliad rieht nrae tonnac ohw esoht fo reb
mlehliW rollecnahC woh si sihT ”.retaerg neeb reveneht ni noitautis cimonoce citamard eht sebircsed xraM
nA .3291 ni hceeps samtsirhC sih ni cilbupeR ramieW
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fpmurT naitsirhC ,noitaflnirepyh siht fo elddim eht nI-krow lacinahcem llams a – HbmG regieG suiluJ snioj
ni 83 essartsgrebnetuG ta seeyolpme evfi htiw pohs
namssenisub gnuoy ehT .tcirtsid tseW-tragttutS eht
htiw ynapmoc eht ni tnemtsevni sih eruces t’nseod-olik 003,1 dna seciv 92 htiw tub ,yenom sselhtrow
rof eriw siht sdeen ynapmoc llams ehT .eriw fo smarg
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Employees in production, during a break in the yard at the Weilimdorf factory,
and testing the machines. Bottom right: Trumpf (2nd from right), was born in1892 in Forchtenberg in the Hohenlohe district. The picture shows him in 1934 on
the annual company outing standing among his workforce. Despite the patriarchal
management style common in those days, Christian Trumpf attaches great importanceto a sense of solidarity among his employees and social security. In 1938, hesets up a company provident fund for his retired workers. From 1952 onwards, hepays out a profit share.

10 0 Y E A R S O F T R U M P F

13

14

1923-1945

Shears &shafts

10 0 Y E A R S O F T R U M P F

15

TECHNOLOGYHIGHLIGHT

Konrad Adenauer

E LE CTRI C HAND SHE ARS HSU 1. 5
Electric hand shears with a 25-watt universal motor cut sheets
up to 1.5 mm at about 1,500 cuts per minute. They cut cleanly,
quickly, and reliably with hardly any hand fatigue, and caneven cut small curvatures with a radius of 10 to 20 mm without
any problems. The electric hand shears are driven by a universal
motor that can be connected to any branch circuit with a plug.
S H E E T M E TA L H AND TOOLTRUMPF has been manufacturing various electric hand shears since1934. At a trade show booth in 1937, the company presents its
product portfolio of universal machines with a flexible shaft.

The design features a simple shear gear consisting of a few sturdy parts. The lower blade moves straight up and down against theupper fixed blade by means of a double-bearing eccentric. The
clean and burr-free cut eliminates the need for post-treatment.

2 kg

Weight

13 cm
Height

1.5 mm

Cutting performance

14

1923-1945

Shears &shaftsYG OL O N H C E T
THGILHGIH

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mc 31
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S H E E T M E TA L H AND TOOL
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5.1 manufacturing
TRUMPF has
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t setanimi
le tuc eerf-rrub dna naelc

10 0 Y E A R S O F T R U M P F

15

16

In
series1945-1962

10 0 Y E A R S O F T R U M P F

17NEW BEGINNINGSANDECONOMIC
MIRACLE
LEGO

Sputnik

Verner Panton “Panton Chair”

NATO

Atomic bombs dropped on Hiroshima and Nagasaki

Cuban Missile Crisis

United Nations

IBM hard drive
Polaroid camera
Marshall Plan

Louis Poulsen “PH Artichoke Lamp”

GDR
FRG

Rock’n’Roll
Video recorder“Tennis for Two” video game

Fuel cell
European Parliament
Theodore Maiman: first laser
Term ‘AI’
Andy Warhol “Campbell’s Tomato Soup”
Charles and Ray Eames “Lounge Chair”

Berlin Wall

J AC K OF A L L T RA D E S
The TRUMPF stationary curve shears(TAS) can punch as well as nibble.
They can be used to make cuts without
pre-punching the center of the sheet
and to produce complicated shapes.

1945–
1962

16

1945-1962

In - N I G E B W E N
DNA
SGNIN
seriesC I M O N OC E
ELCARIM
OGEL

kintupS”riahC notnaP“ notnaP renreV

OTAN

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GRF

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llaW nilreB

–5491
2691

J AC K OF A L L T RA D E S

The TRUMPF stationary curve shears(TAS) can punch as well as nibble.
They can be used to make cuts without
pre-punching the center of the sheet
and to produce complicated shapes.

10 0 Y E A R S O F T R U M P F

17

18

1945-1962

1958
Paris

10 0 Y E A R S O F T R U M P F

19

20

1945-1962

Growth10 0 Y E A R S O F T R U M P F

NEW BEGINNINGSAND ECONOMIC
MIRACLEThe Second World War ends in Europe in May 1945. The
consequences of the war can be felt everywhere. The
victorious powers divide Germany into four occupation
zones. Millions of men are prisoners of war or have diedin the war. Many large cities are in ruins after air raids,
and living space is scarce. Refugees and expellees fromthe East stream into the occupation zones. There is a lackof essential goods for the population such as food andclothes; the power supply is diﬃcult.
In order to quickly boost reconstruction, the Stuttgart
Economic Oﬃce grants permission in August 1945 forthe production of power tools to resume. Initially, it only
applies to the food sector and the railways. Christian
Trumpf has a decisive starting advantage: he has an undamaged factory. In 1947, he develops his first machine,
the stationary curve shears, TAS. He quickly manages to
exceed the one-million sales mark. The move into stationary sheet metal processing means that the flexible
shaft no longer fits into the company’s logo. From thispoint on, it is replaced by a ‘trump’ card in the shape ofan ace of spades as a play on the alternative meaning of
the company’s name.

I NV E S T M E NT I N ED UCATION21

PA R T I T I ON A N D P R OS P ER I T Y
The partition of Germany progresses as a result of theEast-West divide. In May 1949, the Federal Republic of
Germany (FRG) is founded, and in October, the German
Democratic Republic (GDR) is constituted as the second
German state.
The demand for cars, mopeds, washing machines andradios also steadily boosts production at TRUMPF. Christian Trumpf recognizes that participation in domestic andforeign trade shows is an important instrument for promoting sales. So in 1951, TRUMPF exhibits its products at
the first ‘Exposition Européenne de la Machine-Outil’, amechanical engineering trade fair in Paris. This is quickly
followed by trade show appearances in North and SouthAmerica, Australia and Japan.
When in 1955 the millionth Beetle rolls oﬀ the production line in Wolfsburg as a symbol of the economic miracle,
TRUMPF opens a new factory in Hettingen in the Swabian Alb, a picturesque corner of southwest Germany.
Increasing sales of large machine tools from the TAS seriesrequire more space than is available in the factory halls in
Weilimdorf.

With the economic upturn after the war, the number of employees also grows.
TRUMPF invests in a new office building at the Weilimdorf location andexpands the training workshop. In 1950, families also come along on theannual company outing.
M E TA L C H I P S
An apprentice produces
a workpiece on a millingmachine in the training
workshop in Hettingen.

TRUMPF IS CROWNED THE “NIBBLING KING”
BY THE PRESSTRUMPF’s growing success as a machine tool builder isclosely linked to the young engineer Berthold Leibinger.
Leibinger completes a training program at the companyof his godfather Christian Trumpf as early as 1950 andwrites his diploma thesis in 1956. The CN 63 copy nibbling machine he designs, which operates automaticallyfor the first time thanks to a mechanical design, proves tobe a magnet for visitors at the 1957 spring trade show inLeipzig. For this reason, the trade press refers to TRUMPF
as the “nibbling king” in the years that follow.
Despite his success in Germany, it remains a great
dream for young inventor Berthold Leibinger to live andwork in America. At the end of 1958, he and his wife Doris set oﬀ for Wilmington (Ohio), where he works for two
years as a development engineer at the Cincinnati Milling Machine Company, the largest machine tool factoryin the world at the time.
In spite of this job, Leibinger always keeps his eyes
open at trade shows and on business trips for new technologies that he considers important for TRUMPF.
To this end, he stays in close contact with the Cosa
Corporation, TRUMPF’s commercial agency in the US at
the time. But Berthold Leibinger is also in constant correspondence with TRUMPF in Weilimdorf. On a small
drawing board that he buys for a few dollars, Leibinger
designs a copy punch. He comments on designs from
Weilimdorf that are intended to improve the copy nibbler and the newly introduced hand nibbler. His wife
Doris Leibinger types the texts on her travel typewritercalled ‘Erika’.
Looking back, Leibinger comments: “Cincinnati Milling, my employer, was in a diﬀerent league from a technical and business point of view. But my technical heart
belonged to TRUMPF.”
So it’s no surprise that Leibinger takes over as head of
TRUMPF’s design department after his return to Germany in January 1961.

1945–
1962

20

1945-1962

SGNINNIGEB WEN
GrowthC I M O N OC E D N A
ELCARIM”GNIK GNILBBIN“ EHT DENWORC SI FPMURTS S E R P E H T YB
si redliub loot enihcam a sa sseccus gniworg s’FPMURT.regnibieL dlohtreB reenigne gnuoy eht ot deknil ylesolc
ynapmoc eht ta margorp gniniart a setelpmoc regnibieL
dna 0591 sa ylrae sa fpmurT naitsirhC rehtafdog sih fo-bin ypoc 36 NC ehT .6591 ni siseht amolpid sih setirw
yllacitamotua setarepo hcihw ,sngised eh enihcam gnilb
ot sevorp ,ngised lacinahcem a ot sknaht emit tsrfi eht rof
ni wohs edart gnirps 7591 eht ta srotisiv rof tengam a eb
FPMURT ot srefer sserp edart eht ,nosaer siht roF .gizpieL.wollof taht sraey eht ni ”gnik gnilbbin“ eht sataerg a sniamer ti ,ynamreG ni sseccus sih etipseD
dna evil ot regnibieL dlohtreB rotnevni gnuoy rof maerd-oD efiw sih dna eh ,8591 fo dne eht tA .aciremA ni krowowt rof skrow eh erehw ,)oihO( notgnimliW rof ﬀo tes sir-lliM itannicniC eht ta reenigne tnempoleved a sa sraey
yrotcaf loot enihcam tsegral eht ,ynapmoC enihcaM gni.emit eht ta dlrow eht niseye sih speek syawla regnibieL ,boj siht fo etips nI-hcet wen rof spirt ssenisub no dna swohs edart ta nepo
.FPMURT rof tnatropmi sredisnoc eh taht seigolon
asoC eht htiw tcatnoc esolc ni syats eh ,dne siht oT
ta SU eht ni ycnega laicremmoc s’FPMURT ,noitaroproC-roc tnatsnoc ni osla si regnibieL dlohtreB tuB .emit eht
llams a nO .frodmilieW ni FPMURT htiw ecnednopser
regnibieL ,srallod wef a rof syub eh taht draob gniwardmorf sngised no stnemmoc eH .hcnup ypoc a sngised-bin ypoc eht evorpmi ot dednetni era taht frodmilieW
efiw siH .relbbin dnah decudortni ylwen eht dna relb
retirwepyt levart reh no stxet eht sepyt regnibieL siroD.’akirE‘ dellac-lliM itannicniC“ :stnemmoc regnibieL ,kcab gnikooL-hcet a morf eugael tnereﬀid a ni saw ,reyolpme ym ,gnitraeh lacinhcet ym tuB .weiv fo tniop ssenisub dna lacin”.FPMURT ot degnoleb
fo daeh sa revo sekat regnibieL taht esirprus on s’ti oS-amreG ot nruter sih retfa tnemtraped ngised s’FPMURT.1691 yraunaJ ni yn

–5491
2691
I NV E S T M E NT I N ED UCATION

10 0 Y E A R S O F T R U M P F

ehT .5491 yaM ni eporuE ni sdne raW dlroW dnoceS ehTehT .erehwyreve tlef eb nac raw eht fo secneuqesnoc
noitapucco ruof otni ynamreG edivid srewop suoirotciv
deid evah ro raw fo srenosirp era nem fo snoilliM .senoz,sdiar ria retfa sniur ni era seitic egral ynaM .raw eht ni
morf seellepxe dna seegufeR .ecracs si ecaps gnivil dna
kcal a si erehT .senoz noitapucco eht otni maerts tsaE eht
dna doof sa hcus noitalupop eht rof sdoog laitnesse fo.tlucﬃid si ylppus rewop eht ;sehtolc
tragttutS eht ,noitcurtsnocer tsoob ylkciuq ot redro nI
rof 5491 tsuguA ni noissimrep stnarg ecﬃO cimonocE
ylno ti ,yllaitinI .emuser ot sloot rewop fo noitcudorp eht
naitsirhC .syawliar eht dna rotces doof eht ot seilppa-nu na sah eh :egatnavda gnitrats evisiced a sah fpmurT,enihcam tsrfi sih spoleved eh ,7491 nI .yrotcaf degamad
ot seganam ylkciuq eH .SAT ,sraehs evruc yranoitats eht-ats otni evom ehT .kram selas noillim-eno eht deecxe
elbixefl eht taht snaem gnissecorp latem teehs yranoit
siht morF .ogol s’ynapmoc eht otni stfi regnol on tfahs
fo epahs eht ni drac ’pmurt‘ a yb decalper si ti ,no tniop
fo gninaem evitanretla eht no yalp a sa sedaps fo eca na.eman s’ynapmoc eht
Y T I R E P S O R P D N A N O I T I T R AP
eht fo tluser a sa sessergorp ynamreG fo noititrap ehT
fo cilbupeR laredeF eht ,9491 yaM nI .edivid tseW-tsaEnamreG eht ,rebotcO ni dna ,dednuof si )GRF( ynamreGdnoces eht sa detutitsnoc si )RDG( cilbupeR citarcomeD.etats namreG
dna senihcam gnihsaw ,sdepom ,srac rof dnamed ehT-sirhC .FPMURT ta noitcudorp stsoob ylidaets osla soidar
dna citsemod ni noitapicitrap taht sezingocer fpmurT nait
-orp rof tnemurtsni tnatropmi na si swohs edart ngierof
ta stcudorp sti stibihxe FPMURT ,1591 ni oS .selas gnitom
a ,’lituO-enihcaM al ed enneéporuE noitisopxE‘ tsrfi eht
ylkciuq si sihT .siraP ni riaf edart gnireenigne lacinahcem
htuoS dna htroN ni secnaraeppa wohs edart yb dewollof.napaJ dna ailartsuA ,aciremA-cudorp eht ﬀo sllor elteeB htnoillim eht 5591 ni nehW
,elcarim cimonoce eht fo lobmys a sa grubsfloW ni enil noit
-awS eht ni negnitteH ni yrotcaf wen a snepo FPMURT.ynamreG tsewhtuos fo renroc euqserutcip a ,blA naib
seires SAT eht morf sloot enihcam egral fo selas gnisaercnIni sllah yrotcaf eht ni elbaliava si naht ecaps erom eriuqer.frodmilieW

With the economic upturn after the war, the number of employees also grows.
TRUMPF invests in a new office building at the Weilimdorf location andexpands the training workshop. In 1950, families also come along on theannual company outing.
M E TA L C H I P S
An apprentice produces
a workpiece on a millingmachine in the training
workshop in Hettingen.

21

22

1945-1962

M AC H I NE S F RO M THE SWA B IA N A L B
Local councilors from Hettingen on a factory tour to discuss
expansion options for the location. Below: Ditzingen employees
visit colleagues at the new site in Hettingen in 1956 andinspect the renovation of the building.

10 0 Y E A R S O F T R U M P F

23

24

1945-1962

10 0 Y E A R S O F T R U M P F

25

TECHNOLOGYHIGHLIGHT

TRUMPF & Co
STUTTGART

Konrad Adenauer

Slitting &peening
S H A P I N G TH E S TEEL
An employee makes a slit in a workpiece. Below: An employee peens ahemispherical shell.

TAS 400
TRUMPF stationary curve shears (TAS) are multi-purpose machines
for sheet metal and plastics processing. The machine body is designed in such a way that even highly deformed workpieces can betrimmed, sheared, beaded or louvered. The machine is used in car
body construction, aeronautical engineering and in electrical andchemical equipment construction. The quick and easy tool change
increases the economic efficiency of this machine. A round guide
C Awith
L I P E R SinterA N D nal
M E A centering
SU R E M E N T BY
E
isE Y
available
for round blanks, rings andsegments.
simple straight-line guide, which is included
A circular
design engineer
in ADitzingen
in the delivery,
enablesstraight-line work. A special feature ismeasuresand inspects
a workpiece
the infinitely
adjustableproducedby a copy
nibbling stroke. It can be adjusted up to 6 mm,
8 mm or He
10 is
mm,wearing
regardlessof the number of strokes or working pomachine.
a whitesitionof traditional
the ram.
coat
– the
work
attire back then.

490 kgWeight174 cmHeight

10 mm

Sheet thickness

241945-1962

10 0 Y E A R S O F T R U M P F

YG OL O N H C E T
THGILHGIH

oC & FPMURTTR A G T T U T S

reuanedA darnoK

Slitting &peening
0 0 4 S AT

senihcam esoprup-itlum era )SAT( sraehs evruc yranoitats FPMURT-ed si ydob enihcam ehT .gnissecorp scitsalp dna latem teehs rof
gk 094eb nac seceipkrow demrofed ylhgih neve taht yaw a hcus ni dengis
rac ni desu si enihcam ehT .derevuol ro dedaeb ,deraehs ,demmirt
thgieW
dna lacirtcele ni dna gnireenigne lacituanorea ,noitcurtsnoc ydob
egnahc loot ysae dna kciuq ehT .noitcurtsnoc tnempiuqe lacimehc
mc 471
ediug dnuor A .enihcam siht fo ycneiciffe cimonoce eht sesaercni
dna sgnir ,sknalb dnuor rof elbaliava si gniretnec lanretni htiw
thgieHdedulcni si hcihw ,ediug enil-thgiarts elpmis A .stnemges ralucricsi erutaef laiceps A .krow enil-thgiarts selbane ,yreviled eht ni
mEm01
S H A P I N G TH
S TEEL,mm 6 ot pu detsujda eb nac tI .ekorts elbatsujda yletinifni eht-oslitp gniinkroa
w workro sekorts fo rebmun eht fo sseldrager ,mm 01 ro mm 8
ssenkciht temakes
ehS
An employeea.mar eht fo noitis
piece. Below: An employee peens ahemispherical shell.

C A L I P E R S A N D M E A SU R E M E N T BY E Y E
A design engineer in Ditzingenmeasures and inspects a workpiece
produced by a copy nibblingmachine. He is wearing a whitecoat – the traditional work
attire back then.

25

26

1965
Osaka

1962-1974

10 0 Y E A R S O F T R U M P F

27

TRUMPFDISCOVERS
THE WORLDABBA

Microsoft

Programmable microprocessor

Assassination of John F. Kennedy
Martin Luther King “I have a Dream”

Beatles “Abbey Road”
Ford Mustang

Prague Spring
Cell phone
E-mailEnd of Vietnam war

Death of Elvis Presley
Flower power movement
Porsche 911

Club of Rome

Cassette recorder
Munich Olympics

Film: Saturday Night Fever

Germany wins the World Cup
USM Haller: modular furniture
Moon landing

Woodstock

SHOWSTO PP E R F O R JAPA N
TRUMPF presents the TKF 100 beveler
at its booth in Osaka. The handy power
tool, which can be used for curves,
enables weld seam preparation even forbulky and large workpieces with notransport or guide direction.

1963–
1974
1977
Chicago26

1962-1974

10 0 Y E A R S O F T R U M P F

27

FPMURT1965
S
R E V OC S I D
Osaka
ABBA

tfosorciM

DLROW EHT

rossecorporcim elbammargorPydenneK .F nhoJ fo noitanissassA”maerD a evah I“ gniK rehtuL nitraM”daoR yebbA“ seltaeB
gnirpS eugarP

gnatsuM droF

enohp lleC
liam-Eraw manteiV fo dnEyelserP sivlE fo htaeD
tnemevom rewop rewolF
119 ehcsroPemoR fo bulC

redrocer ettessaC
scipmylO hcinuM

reveF thgiN yadrutaS :mliF

puC dlroW eht sniw ynamreG
erutinruf raludom :rellaH MSU
gnidnal nooM

kcotsdooW

–3691
7791
SHOWSTO PP E R F O R JAPA N

TRUMPF presents the TKF 100 beveler
at its booth in Osaka. The handy power
tool, which can be used for curves,
enables weld seam preparation even forbulky and large workpieces with notransport or guide direction.

1974
Chicago28

1963-1977

10 0 Y E A R S O F T R U M P F

1968
Buenos Aires

29

30

1963-1977

First steps towards
globalization

10 0 Y E A R S O F T R U M P F

TRUMPFDISCOVERS
THE WORLD

The 1960s are years of contrasts and change. In the midstof the Cold War, Vietnam becomes the scene of a tragic proxy war between the superpowers of the time. The
first man lands on the moon. The Beatles and the Rolling
Stones conquer the music world. The hippie movement
rigorously challenges traditional ties and social constraints.
The mood of upheaval and desire for change can also
be felt at TRUMPF.
Berthold Leibinger achieves another innovative breakthrough in 1963, shortly after becoming head of thedesign oﬃce. He develops the TKF 100 beveler, a beveling tool for metal edges. The power tool is a bestseller
for years and achieves a sales share of 13 percent surprisingly quickly. Due to his abilities and importance forthe company, the young engineer is oﬀered shares in thecompany by Anna and Christian Trumpf.
Almost unnoticed, the history of the company’s firstmajor product lines comes to an end in 1964, when thepartners decide to stop manufacturing the universal machines and associated flexible shafts.
T HE T R I U MP H OF N U MER I C A L CON T R OL
With financial security thanks to high profits and his experience from the US behind him, Berthold Leibinger decides to take the bold step of developing a numericallycontrolled copy punching machine – against the adviceof Christian Trumpf, who sees no market for such an expensive and highly complex machine. The Trumatic 20
is a sensation at the 1967 Hannover Messe. The next
groundbreaking innovation follows just three years
later: the first Trumatic 20 with an automatically controlled tool changer. The order books are full, and thequestion of where to manufacture the new, large-format machine tool quickly arises. The Weilimdorf locationoﬀers no opportunities for expansion.

F RO M A F RI C A TO SOUTH A M ERICA
In 1963, French firm Technom convinces customers in Paris of the qualityof TRUMPF products with a mobile demonstration vehicle. TRUMPF presents
power tools at trade shows in Tel Aviv and Nairobi in 1964. The company
presents a copy nibbling machine for the first time in South America at
its trade show booth in São Paulo in 1963.

GE N T L E M E N ’ S M E E T I N G I N E N GL A N D
Christian Trumpf (middle) andBerthold Leibinger (far right)
visit TRUMPF’s commercial agency
in the UK, F.J. Edwards Ltd. incentral London.

31

P I ON EER I N G D EC I S I ON S
In 1968, the now 75-year-old Christian Trumpf hands
over his shares and the management of the company toBerthold Leibinger and co-partner Hugo Schwarz. The
new managing directors immediately tackle the construction of an administration and factory building inneighboring Ditzingen. When it opens in 1972, the newlocation oﬀers 600 employees state-of-the-art working
and production conditions.
The German economic miracle ends in 1973 with thefirst oil crisis. However, for TRUMPF, the triumphantmarch continues unabated. The Trumatic 20 accounts
for 50 percent of total sales in the mid-1970s. Between
1973 and 1977, sales revenues increase from 49.6 to
80.9 million Deutsche Marks.
T R U MP F G OES OU T I N TO T HE WOR L D TO I T S
C U S TOMER S
During this time, TRUMPF also takes its first international steps. Until now, TRUMPF has relied on commercial
agencies outside Germany, but these all have machines
and products from several other companies in their sales
ranges – which makes the TRUMPF partners worry that
their own products are not given suﬃcient attention.
For this reason, they turn to demonstration vehicles,
which the company itself uses to convince customers on
the ground of the quality of its power tools and sheet
metal processing machines.
As sales abroad rise, there is also increased demand forlong-term services, which the commercial agencies cannot provide. These include in particular the maintenanceand repair of the machines.
So Christian Trumpf opens the first foreign sales company in Zug, Switzerland, in 1963. Then in 1969, TRUMPF
America Inc. becomes the first production location outside of Europe, in Farmington/CT. Berthold Leibinger
and co-partner Hugo Schwarz have initiated the founding of the American subsidiary. Additional sales companies are established in the United Kingdom (St. Albans)in 1974, and in Japan (Yokohama) and France (Gonesse
near Paris) in 1977.

1963–
1977

30

1963-1977

FPMURTFirst Ssteps
towardsR E V OC S I D
globalization
DLROW EHTSNOISICED GNIREENOIP
sdnah fpmurT naitsirhC dlo-raey-57 won eht ,8691 nI
ot ynapmoc eht fo tnemeganam eht dna serahs sih revo
ehT .zrawhcS oguH rentrap-oc dna regnibieL dlohtreB-noc eht elkcat yletaidemmi srotcerid gniganam wen
ni gnidliub yrotcaf dna noitartsinimda na fo noitcurts
wen eht ,2791 ni snepo ti nehW .negniztiD gnirobhgien
gnikrow tra-eht-fo-etats seeyolpme 006 sreﬀo noitacol.snoitidnoc noitcudorp dna
eht htiw 3791 ni sdne elcarim cimonoce namreG ehT
tnahpmuirt eht ,FPMURT rof ,revewoH .sisirc lio tsrfi
stnuocca 02 citamurT ehT .detabanu seunitnoc hcram
neewteB .s0791-dim eht ni selas latot fo tnecrep 05 rof
ot 6.94 morf esaercni seunever selas ,7791 dna 3791
.skraM ehcstueD noillim 9.08
S T I OT D L R OW E H T OT N I T U O S E O G F P M U R T
S R E M OT S U C-noitanretni tsrfi sti sekat osla FPMURT ,emit siht gniruDlaicremmoc no deiler sah FPMURT ,won litnU .spets lasenihcam evah lla eseht tub ,ynamreG edistuo seicnegaselas rieht ni seinapmoc rehto lareves morf stcudorp dna
taht yrrow srentrap FPMURT eht sekam hcihw – segnar.noitnetta tneicﬃus nevig ton era stcudorp nwo rieht,selcihev noitartsnomed ot nrut yeht ,nosaer siht roF
no sremotsuc ecnivnoc ot sesu flesti ynapmoc eht hcihw
teehs dna sloot rewop sti fo ytilauq eht fo dnuorg eht.senihcam gnissecorp latem
rof dnamed desaercni osla si ereht ,esir daorba selas sA-nac seicnega laicremmoc eht hcihw ,secivres mret-gnol
ecnanetniam eht ralucitrap ni edulcni esehT .edivorp ton.senihcam eht fo riaper dna-moc selas ngierof tsrfi eht snepo fpmurT naitsirhC oS
FPMURT ,9691 ni nehT .3691 ni ,dnalreztiwS ,guZ ni ynap
-tuo noitacol noitcudorp tsrfi eht semoceb .cnI aciremA
regnibieL dlohtreB .TC/notgnimraF ni ,eporuE fo edis
-dnuof eht detaitini evah zrawhcS oguH rentrap-oc dna-apmoc selas lanoitiddA .yraidisbus naciremA eht fo gni)snablA .tS( modgniK detinU eht ni dehsilbatse era sein
essenoG( ecnarF dna )amahokoY( napaJ ni dna ,4791 ni.7791 ni )siraP raen

–3691
7791

10 0 Y E A R S O F T R U M P F

tsdim eht nI .egnahc dna stsartnoc fo sraey era s0691 ehT-gart a fo enecs eht semoceb manteiV ,raW dloC eht fo
ehT .emit eht fo srewoprepus eht neewteb raw yxorp ci
gnilloR eht dna seltaeB ehT .noom eht no sdnal nam tsrfi
tnemevom eippih ehT .dlrow cisum eht reuqnoc senotS-noc laicos dna seit lanoitidart segnellahc ylsuorogir.stniarts
osla nac egnahc rof erised dna lavaehpu fo doom ehT.FPMURT ta tlef eb-kaerb evitavonni rehtona seveihca regnibieL dlohtreB
eht fo daeh gnimoceb retfa yltrohs ,3691 ni hguorht-leveb a ,releveb 001 FKT eht spoleved eH .ecﬃo ngised
rellestseb a si loot rewop ehT .segde latem rof loot gni-rus tnecrep 31 fo erahs selas a seveihca dna sraey rof
rof ecnatropmi dna seitiliba sih ot euD .ylkciuq ylgnisirp
eht ni serahs dereﬀo si reenigne gnuoy eht ,ynapmoc eht.fpmurT naitsirhC dna annA yb ynapmoc
tsrfi s’ynapmoc eht fo yrotsih eht ,decitonnu tsomlA
eht nehw ,4691 ni dne na ot semoc senil tcudorp rojam-am lasrevinu eht gnirutcafunam pots ot ediced srentrap.stfahs elbixefl detaicossa dna senihc
LORTNOC LACIREMUN FO HPMUIRT EHT-xe sih dna stfiorp hgih ot sknaht ytiruces laicnanfi htiW
-ed regnibieL dlohtreB ,mih dniheb SU eht morf ecneirep
yllaciremun a gnipoleved fo pets dlob eht ekat ot sedic
ecivda eht tsniaga – enihcam gnihcnup ypoc dellortnoc-xe na hcus rof tekram on sees ohw ,fpmurT naitsirhC fo
02 citamurT ehT .enihcam xelpmoc ylhgih dna evisnep
txen ehT .esseM revonnaH 7691 eht ta noitasnes a si
sraey eerht tsuj swollof noitavonni gnikaerbdnuorg-noc yllacitamotua na htiw 02 citamurT tsrfi eht :retal
eht dna ,lluf era skoob redro ehT .regnahc loot dellort-rof-egral ,wen eht erutcafunam ot erehw fo noitseuq
noitacol frodmilieW ehT .sesira ylkciuq loot enihcam tam.noisnapxe rof seitinutroppo on sreﬀo

F RO M A F RI C A TO SOUTH A M ERICA
In 1963, French firm Technom convinces customers in Paris of the qualityof TRUMPF products with a mobile demonstration vehicle. TRUMPF presents
power tools at trade shows in Tel Aviv and Nairobi in 1964. The company
presents a copy nibbling machine for the first time in South America at
its trade show booth in São Paulo in 1963.

GE N T L E M E N ’ S M E E T I N G I N E N GL A N D
Christian Trumpf (middle) andBerthold Leibinger (far right)
visit TRUMPF’s commercial agency
in the UK, F.J. Edwards Ltd. incentral London.

31

32

1963-1977

O N T H E GR OUNDTRUMPF customer service
with its mobile
demonstration vehicle.

10 0 Y E A R S O F T R U M P F

Close tocustomers33

34

1963-1977

10 0 Y E A R S O F T R U M P F

35

TECHNOLOGYHIGHLIGHT

FI R ST ST E P S I N AU TO M AT I O N

TRUMPF veteran “Bobby” Braunfrom Ditzingen traces a contour with a copy stamp on
a copy nibbling machine. Itstransfer produces the newly
manufactured workpiece.

Officevibes

Konrad Adenauer

TRUMATI C 20

E V E RYDAY L I F E IN THE OF F ICE(from left to right:) Managing directors and partners Hugo Schwarz andBerthold Leibinger in their office at the new company headquarters inDitzingen. Below: An employee familiarizing himself with the latest
office technology in the new Ditzingen building in 1972.

The TRUMATIC 20 is the first sheet metal processing machine withnumerical path control. For the first time, it enables a fully
automatic workflow apart from the tool change. All the information required to process the workpiece is stored on punched tape.
The machine offers continuous path control for contouring operations and faster programming, and works at a rate of up to 140
strokes per minute. Highlights of models since the 1970s include
fully automatic tool change in less than eight seconds; memoryfor 20 cassettes, each containing a complete tool set consisting of punch, die and stripper; loading and unloading of new tool
sets in a few seconds.

5,700 kg
Weight235 cmHeight

10 mm

Sheet thickness

34

1963-1977

YG OL O N H C E T
THGILHGIH

Officevibes

gk 007,5

reuanedA darnoK

0 2 C I TA M U R T

htiw enihcam gnissecorp latem teehs tsrif eht si 02 CITAMURT ehT
ylluf a selbane ti ,emit tsrif eht roF .lortnoc htap laciremun
thgieW-amrofni eht llA .egnahc loot eht morf trapa wolfkrow citamotua.epat dehcnup no derots si eceipkrow eht ssecorp ot deriuqer noit
mc 532-repo gniruotnoc rof lortnoc htap suounitnoc sreffo enihcam ehT
041 ot pu fo etar a ta skrow dna ,gnimmargorp retsaf dna snoita
thgieHedulcni s0791 eht ecnis sledom fo sthgilhgiH .etunim rep sekorts
E V E RYDAY L I F E IN THE OF F y
ICEromem ;sdnoces thgie naht ssel ni egnahc loot citamotua ylluf
mm 01
tsisnoc tdirectors
es loot etandelpmpartners
oc a gnini
atnoc
hcae ,settessac 02 rof(from left to right:) -Managing
Hugo
Schwarzandlinoottheir
wen fofficeo gnidaatolntheu dnnewa gncompany
idaol ;reppirts dna ei
d ,hcnup fo gni
ssenkciLeibinger
ht teehS
Berthold
headquartersin
sdnoces wef a ni stes
Ditzingen. Below: An employee familiarizing himself with the .
latestoffice technology in the new Ditzingen building in 1972.

10 0 Y E A R S O F T R U M P F

FI R ST ST E P S I N AU TO M AT I O N
TRUMPF veteran “Bobby” Braunfrom Ditzingen traces a contour with a copy stamp on
a copy nibbling machine. Itstransfer produces the newly
manufactured workpiece.

35

36

Factorycult

1963-1977

10 0 Y E A R S O F T R U M P F

WO R K T H AT C A R R I E S W E I GH T
Employee Karl Steiner assembles
a punching head for the TC 180,
one of the first CNC-controlledmachines, in Hettingen in 1976.
In the foreground, nibblingheads for the CN 701/901 can beseen in red primer.

37

38

1978-1988

10 0 Y E A R S O F T R U M P F

39

ERA OF THE
INDUSTRIALLASER
Oil crisis

Film: E.T.
TV series: Dallas

Film: Dirty Dancing

MTV

Tetris computer game
Concorde

WalkmanBoris Becker wins Wimbledon

Chernobyl

Macintosh computer
GPS
Space Shuttle Challenger disaster

Steffi Graf world number one

CD

Pink Floyd “The Wall”

Death of John Lennon

L IGH T FOR MAN UFACTUR IN G
In 1979, TRUMPF moves into laser
technology with the Trumatic 180
Laserpress. It is the firstcombination punch-laser machine.
Initially, 500 and 700 Watt CO2
lasers purchased from the US areused as beam sources.

1978–
First
1988
cut

This was our very first cut with a laser
Mr. Braun, the careful appraiser
Full of curiosity the team gathers roundThe new technique appears to be soundAny kind of steel or seamCan now be cut by laser beam.

38

1978-1988

10 0 Y E A R S O F T R U M P F

39

EHT FO ARE
LAIRTSUDNI
RESAL
sisirc liO.T.E :mliF
sallaD :seires VT

gnicnaD ytriD :mliF

VTM

emag retupmoc sirteT
edrocnoC

nodelbmiW sniw rekceB siroB

namklaWlybonrehC

retupmoc hsotnicaM
SPG
retsasid regnellahC elttuhS ecapSDC

eno rebmun dlrow farG iffetS”llaW ehT“ dyolF kniP

nonneL nhoJ fo htaeD

–8791
8891
L IGH T FOR MAN UFACTUR IN G

In 1979, TRUMPF moves into laser
technology with the Trumatic 180
Laserpress. It is the firstcombination punch-laser machine.
Initially, 500 and 700 Watt CO2
lasers purchased from the US areused as beam sources.

This was our very first cut with a laser
Mr. Braun, the careful appraiser
Full of curiosity the team gathers roundThe new technique appears to be soundAny kind of steel or seamCan now be cut by laser beam.

First
cut

40

1978-1988

10 0 Y E A R S O F T R U M P F

Fascination
with lasers

L AS E R L I GHTS
In 1985 TRUMPF develops its
first CO2 laser in Ditzingen.
When it successfully fires up,
the developers hug each otherwith joy.

41

42

1978-1988

Internationalization

10 0 Y E A R S O F T R U M P F

ERA
OF
THE
1986
INDUSTRIAL
Essen
LASER
Always on the lookout for the next innovation, Berthold
Leibinger visits several laser manufacturers during a trip
to America. He wants to check whether the CO2 laser,which is much discussed in trade journals, can be used in
sheet metal processing. Upon his return, TRUMPF orders alaser of this type from Photon Sources in Michigan, as thecompany has a service branch in Germany. Fascinated by
the new technology, a development team from Ditzingen
begins building the prototype for a punching machinewith a 500-watt CO2 laser in the spring of 1979. The
machine can punch out sheet metal parts and cut themwith the laser. Later that same year, TRUMPF presents
the new TRUMATIC 180 Laserpress to the public at the
Exposition Mondiale de la Machine-Outil (EMO) trade
show in Milan.
T HE FI R S T L A S ER D EV ELOP ED I N -HOU S E
The quality of the purchased lasers causes TRUMPF greatdiﬃculties, however. Time and again, the lasers fail because they often do not meet the requirements for continuous industrial operation. Even a switch to laser manufacturer Coherent does not bring the desired success. In
addition, Berthold Leibinger is very concerned about becoming dependent on an American laser manufacturer.
In 1982, he therefore decides to work with the German
Aerospace Research and Testing Institute (DFVLR) in
Stuttgart on the development of his own one-kilowatt
CO2 laser.
The project comes to fruition in 1985, when the firstCO2 laser developed and produced in-house is launchedon the market. The TLF 1000 has one kilowatt of beam
power and is the first compact laser resonator withhigh-frequency excitation.
Demand is huge: instead of the 60 planned lasers,
TRUMPF produces twice as many in 1987. But even thatquickly proves to be too little. Just between 1986 and1995, TRUMPF sells a total of some 2,500 CO2 lasers.

A M E RI C A BE C KO NS
Top left: In 1981, the company establishes a subsidiary,TRUMPF Máquinas LTDA,in São Paulo, Brazil. Top right: Berthold, Doris and Peter Leibinger celebrate
the start of construction work on the new TRUMPF service and demonstration centerin Farmington in 1982 together with the incumbent Democratic Governor of the US
state of Connecticut William A. O’Neill (from right). Below: On a delegation trip
with Lothar Späth, then Minister President of Baden-Württemberg, Berthold Leibinger shows off the TRUMPF booth in Shenyang in 1981 (from left). They don’t missthe opportunity to try out the power tools.

43

COMP U T ER S FOR T HE WOR L D OF WOR K
From the 1980s onward, the Commodore 64 home computer and the first game consoles help popularize information technology. Computers don’t stop at mechanicalengineering either. In machine control, TRUMPF succeeds in taking the next major development step withthe transition to computer-controlled CNC machine
tools. In 1982, TRUMPF presents the Trumatic 225 with
Siemens controls and in 1983 the Trumatic 235 with
Bosch controls. Thanks to new microchips, workpieces
can now be designed directly on the computer screen
and transferred to a production program. A floppy disk
stores the design data for the first time. The next innovation follows in 1987: the Trumatic L 3000 flatbed laser
cutting machine has flying optics, so from now on, theworkpiece no longer moves in the machine during cutting. Instead, the processing head ‘flies’ over the sheet
metal.
The spade logo, formerly developed from a playing
card, no longer fits the image of the modern company.
After almost 40 years, TRUMPF introduces the blue rectangle as its logo in 1985, which is still in use today. Thisis also accompanied by a change in the machine color,
with white gradually replacing the original green. At thistime, this is a novelty in mechanical engineering.
A LWAYS C LOS E TO OU R C U S TOMER S
The introduction of computer-controlled machine tools
massively increases the need for training. This applies
both to sales staﬀ and customers. In 1985 alone, TRUMPF
conducts programming courses for over 1,100 participants. Then there are special training courses for the
maintenance and operation of the new laser machines.
In 1987, TRUMPF inaugurates a demonstration centerin Ditzingen with a machine presentation area of 5,500
square meters. The aim is for customers to be able to see
the innovations and quality of TRUMPF machines forthemselves on site.

1978–
1988

42

1978-1988

E
H
T
F
O
A
R
E
InternationalLAIRTSUDNI
izationR E S A L

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S R E M O T S U C R U O O T E S O L C S YA W L A
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rof senihcam FPMURT fo ytilauq dna snoitavonni eht.etis no sevlesmeht

–8791
8891

dlohtreB ,noitavonni txen eht rof tuokool eht no syawlA
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negniztiD morf maet tnempoleved a ,ygolonhcet wen eht
enihcam gnihcnup a rof epytotorp eht gnidliub snigeb
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dna 6891 neewteb tsuJ .elttil oot eb ot sevorp ylkciuq.sresal 2OC 005,2 emos fo latot a slles FPMURT ,5991

A M E RI C A BE C KO NS

Top left: In 1981, the company establishes a subsidiary,TRUMPF Máquinas LTDA,in São Paulo, Brazil. Top right: Berthold, Doris and Peter Leibinger celebrate
the start of construction work on the new TRUMPF service and demonstration centerin Farmington in 1982 together with the incumbent Democratic Governor of the US
state of Connecticut William A. O’Neill (from right). Below: On a delegation trip
with Lothar Späth, then Minister President of Baden-Württemberg, Berthold Leibinger shows off the TRUMPF booth in Shenyang in 1981 (from left). They don’t missthe opportunity to try out the power tools.

10 0 Y E A R S O F T R U M P F

1986
Essen

43

44

1978-1988

10 0 Y E A R S O F T R U M P F

45

TECHNOLOGYHIGHLIGHT

Konrad Adenauer

TRUMPF TLF LASE RWO RK M A NS H I P
Andreas Böpple 1987 in Ditzingen in final assembly at a 3D laser-only machineteaching in a 3D part. Below: In the same year, TRUMPF opens its demonstration
center in Ditzingen. Berthold Leibinger (left) presents the Trumatic 240 punchingmachine to Minister President of Baden-Württemberg Lothar Späth. A TLF 5000 laser
is in the background.

The first CO2 laser developed in-house by TRUMPF, the TLF(TRUMPF Laser Fast Flow) is available in two different power
levels: the TLF 1000 (1 kilowatt) and TLF 1500 (1.5 kilowatts).
It is the first compact laser resonator with high-frequency
excitation.
The laser’s wavelength makes it possible to process different
COtypes
M PAC T and
A L L - thicknesses
ROUNDERof materials. Manufacturing with thestable,productive
and generates little spatter.
Inlaser
1987,isTRUMPFdevelops
a square,Its compact
designIt
means
that existing systems can be easily
is compact‘folded’CO2 laser.
retrofittedwith quality.
the CO2 laser.
andhas high beam
In thiscombination, it is a novelty.

500 kgWeight135 cmHeight50 W – 1,500 W
Power

44

1978-1988

10 0 Y E A R S O F T R U M P F

YG OL O N H C E T
THGILHGIH

reuanedA darnoK

gk 005thgieWRESAL FLT FPMURTFLT eht ,FPMURT yb esuoh-ni depoleved resal 2OC tsrif ehT
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thgieHWO RK M A NS H I P
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eht htiw in
gnifinal
rutcafu
naM .slairetsessenkcihmachine
t dna sepyt
Andreasassembly
at
aam
3Dfo
laser-only
W 005,1Böpple
– W 051987 in Ditzingen.rettInapstheeltsametil syear,
etarenTRUMPF
eg dna opens
evitcuits
dorpdemonstration,elbats si resalteaching in a 3D part. Below:
ylisae eLeibinger
b nac smet(left)
sys gnipresents
tsixe tahthet snTrumatic
aem ngise240
d tcpunching
apmoc stI
rewoP
center in Ditzingen.
Berthold.resal Späth.
tiw 5000
dettilaser
forter2OC eht
machine to Minister President of Baden-Württemberg Lothar
A hTLFis in the background.

CO M PAC T A L L - R O U N D E R
In 1987, TRUMPF develops a square,‘folded’ CO2 laser. It is compact
and has high beam quality. In thiscombination, it is a novelty.

45

46

1989 -1999

10 0 Y E A R S O F T R U M P F

47

FALL OF THE
BERLIN WALL AND
REUNIFICATION
EmojisGermany wins the World Cup

World Wide Web
Smartphone

IoT

GoogleAmazonECB

End of the Cold War

Film: Forrest Gump
Günter Grass Nobel Prize for Literature

Playstation
Death of Frank Sinatra

Dolly the (cloned) sheep
J.K. Rowling “Harry Potter”
Fall of the Berlin Wall
DVD

1989–
1999
Netflix

Neukirch

SU CC E SSFU L C U STO M E R P R E SE N TAT I O NLong-time employee Bernd Thalmannin 1995 in front of a Trumatic
200 after a successful customer
presentation at the demonstration
center in Ditzingen.

46

1989 -1999

10 0 Y E A R S O F T R U M P F

EHT FO LLAF
DNA LLAW NILREBNOITACIFINUER
sijomEpuC dlroW eht sniw ynamreG

beW ediW dlroW
enohptramS

ToI

elgooG
nozamA
BCE

pmuG tserroF :mliF

raW dloC eht fo dnE

erutaretiL rof ezirP leboN ssarG retnüG

noitatsyalP
artaniS knarF fo htaeD

peehs )denolc( eht ylloD”rettoP yrraH“ gnilwoR .K.J
llaW nilreB eht fo llaF
DVD

–9891
9991
Neukirch
xilfteN

SU CC E SSFU L C U STO M E R P R E SE N TAT I O NLong-time employee Bernd Thalmannin 1995 in front of a Trumatic
200 after a successful customer
presentation at the demonstration
center in Ditzingen.

47

48

1989 -1999

In thefactory

10 0 Y E A R S O F T R U M P F

SC R E W I N G WO R K I N D I T ZI N GE N
Assembly of a 3D laser cutting
machine with cantilever.

49

50

1989 -1999

M O RE L A S E R
The Trumatic 260 Laserpress is one of the first machines in the Ditzingen demonstration
center to feature a laser built in-house. Below: In 1998, TRUMPF opens a new laser
factory in Ditzingen, where the company assembles, among other things, the TLF 1500
Turbo with new square ‘folded’ CO2 lasers. With a lateral length of only 80 cm, thelaser housing accommodates a resonator length totaling three meters.

10 0 Y E A R S O F T R U M P F

51

Las eras s embly52

1989 -1999

Significant
encounters

10 0 Y E A R S O F T R U M P F

FALL OF THE
BERLIN WALL AND
REUNIFICATIONThe reforms of Soviet President Mikhail Gorbachev, theeconomic crisis in the GDR, the mass exodus of people tothe West and the ever-growing Monday demonstrations
in Leipzig lead to an unexpected miracle in the fall of
1989: the fall of the Berlin Wall on November 9 and thepeaceful reunification of Germany on October 3, 1990.
I N V ES T MEN T S I N T HE N EW FED ER A L S TAT ES
Sächsische Werkzeug und Sondermaschinen GmbH
(SWS) in Neukirch was already equipping its laser cutting machines with lasers from TRUMPF in the GDR era.
In 1991, under the administration of Treuhandanstalt
Berlin, the production of loading devices for TRUMPF
machines begins. After enjoying a good working relationship for many years, the company becomes a subsidiary of the TRUMPF Group in 1992. Subsequently,
plans are made for the factory in Neukirch to switch its
production from laser cutting machines to new types ofwaterjet cutting machines. TRUMPF presents the firstTrumatic WS 2500 at the EuroBLECH trade show in Hannover in 1992. However, the machine does not sell inlarge numbers, even after years of eﬀort. In 2003, thepainful decision is made in Ditzingen to end the foray
into waterjet cutting.

BE TW E E N TWO WORL D S
At the Leipzig Spring Fair in March 1989, Erich Honecker visits the TRUMPF
booth. Back then, the GDR leadership was planning to purchase laser units fromTRUMPF and install them in machine tools made by Sächsische Werkzeug und Sondermaschinen GmbH (SWS) in Neukirch. In response to Honecker’s question about
what a laser is, Leibinger replies “The laser is a tool that you can use to
separate or join things – it just depends on the setting.” Honecker swallows
this remark without comment.

CON QU ER I N G N EW A R EA S
Diversification defines the 1990s at TRUMPF. With its
move into laser production, TRUMPF needs a reliable
partner for the manufacture of high-frequency generators. HÜTTINGER in Freiburg develops into an important
supplier in the following years. When in 1990 the company succession remains unresolved, TRUMPF takes overthe majority stake.
In the same year, TRUMPF decides to move into bending technology for sheet metal parts so that it can cover all production steps from cutting flat parts to thefinished product. The new factory in Pasching, Austria,
henceforth builds the TrumaBend V5 and remains
TRUMPF’s lead factory for bending machines to this day.
TRUMPF’s participation in HAAS Laser in Schramberg
in 1991 opens the door to the world of solid-state lasers.
In the same year, TRUMPF begins operations in Singapore as a hub for the Asia/Pacific region.

53

In 1992, the Berthold Leibinger Stiftung is establishedwith the goal of advancing innovative science, creating
a rich cultural landscape and strengthening social commitment in society.
C R I S I S I N MEC HA N I C A L EN G I N EER I N G
The global economic crisis of the 1990s is also felt in theGerman mechanical engineering sector. When the decline in orders at TRUMPF worsens dramatically in 1993,
Berthold Leibinger sees his life’s work in danger. In 1994,
the Baden-Württembergische Beteiligungsgesellschaft(BWK) temporarily steps in to save the company. Unlike
many other companies in the sector, TRUMPF emerges
from the crisis stronger than before: laser technology
has developed as a strong second pillar alongside classic
mechanical engineering, and the foreign production locations established early on are profitable.
I N T R OD U C T I ON OF SYN C HR O FLOWP R OD U C T I ON
With the major crisis in mechanical engineering, thetime has come at TRUMPF for a self-critical appraisal.
Japanese mechanical engineers have an enormous costadvantage over their German competitors: Eﬃcient organization and flow production enable them to produce
much more cheaply.
Because of the small quantities, significant weight,
and size of the machine tools, some people at TRUMPF
in Ditzingen are initially skeptical about the production lines. After an event organized by Japanese management consultant Hitoshi Takeda, managing director
Mathias Kammüller is able to persuade those concernedto rethink.
With the introduction of flow assembly at the end of
the 1990s, the production time of a machine compared
to stationary assembly is reduced from an average of 56
to 21 days. Given such impressive figures, the Ditzingenfactory receives the “Factory of the Year” award fromPRODUKTION magazine in 2002.

Man of many
visions1989–

1999

Berthold Leibinger

52

1989 -1999

E H T F O L L AF
Significant
D N A L L AW N I L R E B
N O I TA C I F I N U E R
encountersdehsilbatse si gnutfitS regnibieL dlohtreB eht ,2991 nI
gnitaerc ,ecneics evitavonni gnicnavda fo laog eht htiw
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GNIREENIGNE LACINAHCEM NI SISIRC
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ekilnU .ynapmoc eht evas ot ni spets yliraropmet )KWB(
segreme FPMURT ,rotces eht ni seinapmoc rehto ynam
ygolonhcet resal :erofeb naht regnorts sisirc eht morf
cissalc edisgnola rallip dnoces gnorts a sa depoleved sah-ol noitcudorp ngierof eht dna ,gnireenigne lacinahcem.elbatfiorp era no ylrae dehsilbatse snoitac
WOL F O R H C N YS F O N O I T C U D O R T N I
NOITCUDORP
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ecudorp ot meht elbane noitcudorp wofl dna noitazinag.ylpaehc erom hcum
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rotcerid gniganam ,adekaT ihsotiH tnatlusnoc tnemega
denrecnoc esoht edausrep ot elba si rellümmaK saihtaM.knihter ot
fo dne eht ta ylbmessa wofl fo noitcudortni eht htiW
derapmoc enihcam a fo emit noitcudorp eht ,s0991 eht
65 fo egareva na morf decuder si ylbmessa yranoitats ot
negniztiD eht ,serugfi evisserpmi hcus neviG .syad 12 ot
morf drawa ”raeY eht fo yrotcaF“ eht seviecer yrotcaf.2002 ni enizagam NOITKUDORP

BE TW E E N TWO WORL D S

–9891
9991

10 0 Y E A R S O F T R U M P F

eht ,vehcabroG liahkiM tnediserP teivoS fo smrofer ehT
ot elpoep fo sudoxe ssam eht ,RDG eht ni sisirc cimonoce
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S E TAT S L A R E D E F W E N E H T N I S T N E M T S E V N I
HbmG nenihcsamrednoS dnu guezkreW ehcsishcäS-tuc resal sti gnippiuqe ydaerla saw hcrikueN ni )SWS(.are RDG eht ni FPMURT morf sresal htiw senihcam gnit
tlatsnadnahuerT fo noitartsinimda eht rednu ,1991 nI
FPMURT rof secived gnidaol fo noitcudorp eht ,nilreB-aler gnikrow doog a gniyojne retfA .snigeb senihcam-bus a semoceb ynapmoc eht ,sraey ynam rof pihsnoit,yltneuqesbuS .2991 ni puorG FPMURT eht fo yraidis
sti hctiws ot hcrikueN ni yrotcaf eht rof edam era snalp
fo sepyt wen ot senihcam gnittuc resal morf noitcudorp
tsrfi eht stneserp FPMURT .senihcam gnittuc tejretaw-naH ni wohs edart HCELBoruE eht ta 0052 SW citamurTni lles ton seod enihcam eht ,revewoH .2991 ni revon
eht ,3002 nI .troﬀe fo sraey retfa neve ,srebmun egral
yarof eht dne ot negniztiD ni edam si noisiced lufniap.gnittuc tejretaw otni
SAERA WEN GNIREUQNOC
sti htiW .FPMURT ta s0991 eht senfied noitacfiisreviD
elbailer a sdeen FPMURT ,noitcudorp resal otni evom-areneg ycneuqerf-hgih fo erutcafunam eht rof rentrap
tnatropmi na otni spoleved grubierF ni REGNITTÜH .srot-moc eht 0991 ni nehW .sraey gniwollof eht ni reilppus
revo sekat FPMURT ,devlosernu sniamer noisseccus ynap
.ekats ytirojam eht-dneb otni evom ot sediced FPMURT ,raey emas eht nI-voc nac ti taht os strap latem teehs rof ygolonhcet gni
eht ot strap tafl gnittuc morf spets noitcudorp lla re,airtsuA ,gnihcsaP ni yrotcaf wen ehT .tcudorp dehsinfi
sniamer dna 5V dneBamurT eht sdliub htrofecneh.yad siht ot senihcam gnidneb rof yrotcaf dael s’FPMURT
grebmarhcS ni resaL SAAH ni noitapicitrap s’FPMURT.sresal etats-dilos fo dlrow eht ot rood eht snepo 1991 ni-agniS ni snoitarepo snigeb FPMURT ,raey emas eht nI.noiger cfiicaP/aisA eht rof buh a sa erop

At the Leipzig Spring Fair in March 1989, Erich Honecker visits the TRUMPF
booth. Back then, the GDR leadership was planning to purchase laser units fromTRUMPF and install them in machine tools made by Sächsische Werkzeug und Sondermaschinen GmbH (SWS) in Neukirch. In response to Honecker’s question about
what a laser is, Leibinger replies “The laser is a tool that you can use to
separate or join things – it just depends on the setting.” Honecker swallows
this remark without comment.

Man of many
visions
Berthold Leibinger

53

54

1989 -1999

10 0 Y E A R S O F T R U M P F

Factory &employees

T E A M S AT WO R K
P U N CH I N W H I T E
In Ditzingen, TRUMPF assembles the Trumatic 260 R withnew hydraulic punching headin a new white color concept.
The rotation of the tool
holder allows all tools tobe turned.

Above: Employees also enjoy their work in the mailroom and cafeteria.
Below: Technical trainees test learning islands and repair power tools with
Joachim Bürklen for their assignment in the factory. During their training,
Marco Grund and Thomas König put a handling device into operation.

55

56

1989 -1999

10 0 Y E A R S O F T R U M P F

57

TECHNOLOGYHIGHLIGHT

Development& trials

TRUDI SK 1000 DI SK LASE R

D E V E LO P M E N T AND TRIA L S IN SCHRA M B ERG
Hamdi Uyan and Gerd Haller (from left to right) use a logic analyzer andoscilloscope to try to get to the bottom of a software error. Below: Ralf
Denkinger adjusts a coupling on an HL4006D laser in Schramberg.

Assemblyflow

From drilling ultra-fine holes the diameter of a hair to welding ship panels, from CW lasers to ultrashort pulse lasers, disklaser technology comes into its own both at high pulse energies
and at high average powers. The high-power laser is suited tomany applications in the automotive industry, such as powertrain
applications, where the requirements for accuracy and reproducibility of the welding results are particularly demanding. The
disk laser cuts a wide range of sheet thicknesses and material
types up to and including highly reflective non-ferrous metals.

490 kgWeight143 cmHeight60 W – 1,000 W
Power

56

1989 -1999

10 0 Y E A R S O F T R U M P F

57

YG OL O N H C E T
THGILHGIH

Development& trials

gk 094thgieWRESAL KSID 0001 KSIDURT-dlew ot riah a fo retemaid eht seloh enif-artlu gnillird morF
ksid ,sresal eslup trohsartlu ot sresal WC morf ,slenap pihs gni
mc 341
seigrene eslup hgih ta htob nwo sti otni semoc ygolonhcet resalot detius si resal rewop-hgih ehT .srewop egareva hgih ta dna
thgieHniartrewop sa hcus ,yrtsudni evitomotua eht ni snoitacilppa ynam
-cudorper dna ycarucca rof stnemeriuqer eht erehw ,snoitacilppa
00P,M1E–NW
06 TRIA LeShIN
DW
E V E0LO
T AND
SCHRA
T .
gnidnMaB
mERG
ed ylralucitrap era stluser gnidlew eht fo ytilibi
laireta(fromm dna leftsessetonkcright)
iht teeuse
hs fao logic
egnar analyzer
ediw a standuc resal ksid
ewoPGerd Haller
Hamdi Uyan randslaget
tem tosuotherrefbottom-non evof
itcaelsoftware
fer ylhgierror.
h gniduBelow:
lcni dnRalf
a ot pu sepyt
oscilloscope to try .to
Denkinger adjusts a coupling on an HL4006D laser in Schramberg.

Assemblyflow

58

2000 -2010

10 0 Y E A R S O F T R U M P F

59

MILLENIUM“Blautopf”
PERIOD
CO M PA N Y R E STAU R A N T, D I T ZI N GE N

A new center on the campus
is created in 2008 with the“Blautopf”. The spacious
interior in the new building
type in Ditzingen serves asa restaurant, exhibition space
and auditorium for events.

Financial crisis
Tesla
Facebook
Instagram

Hurricane Katrina overwhelms New Orleans

World Trade Center

Dotcom bubble

iPod

Herta Müller Nobel Prize for Literature
Film: Slumdog Millionaire

iPhoneYouTubeObama becomes America’s first African-American president

Death of Johnny Cash

WhatsApp
Twitter
Google Maps
Deepwater Horizon

BitcoinDitzingen
SA L E S A N D SE R V I C E C E N TE R

2000–
2010

58

2000 -2010

MUINELLIMDOIREPsisirc laicnaniF
alseT
koobecaF
margatsnI

elbbub moctoD

snaelrO weN smlehwrevo anirtaK enacirruH

doPi

retneC edarT dlroW

erutaretiL rof ezirP leboN rellüM atreH
erianoilliM godmulS :mliF

enohPiebuTuoYtnediserp naciremA-nacirfA tsrif s’aciremA semoceb amabO

hsaC ynnhoJ fo htaeD

ppAstahW
rettiwT
spaM elgooG
noziroH retawpeeD

nioctiB–00
02
Ditzingen
0102
SA L E S A N D SE R V I C E C E N TE R

10 0 Y E A R S O F T R U M P F“Blautopf”
CO M PA N Y R E STAU R A N T, D I T ZI N GE N
A new center on the campus
is created in 2008 with the“Blautopf”. The spacious
interior in the new building
type in Ditzingen serves asa restaurant, exhibition space
and auditorium for events.

59

60

2000 -2010

Hettingen
M O RE T RA INING
Situated in the picturesque
Lauchert valley, surrounded bydense forest and rugged rocky
outcrops: in 2009, TRUMPF adds anoffice building with training
workshops to the existing factory.

10 0 Y E A R S O F T R U M P F

61

62

2000 -2010

10 0 Y E A R S O F T R U M P F

63Neukirch

GrüschSchramberg
S TA RT- U P C E N T ER, GRÜSCH
In Grüsch in the Swiss canton of Graubünden, the start-up center opened in 2001 asa free-standing pavilion with workshops, offices, conference rooms and a canteen.
Below: On a two-hectare site on the outskirts of Schramberg, TRUMPF expands the
footprint of its existing commercial facility in 2000. New offices, laboratories,classrooms and a café are built for the 1980s laser factory.

64

2000 -2010

New
beginnings

10 0 Y E A R S O F T R U M P F

MILLENIUMPERIOD65

C L E A R E D GE
Südblech trade show in
Sinsheim in 2002. Employees
set up a bending machine.

The new millennium begins with a record for TRUMPF,
as sales revenues exceed 1 billion euros for the first time.
Not everyone is in such a good financial position, however, and the dotcom bubble of the new economy leaves
its mark on small investors in broad sections of society.
MOV E I N TO T HE MON EY B U S I N ES S
Regardless of the squabbles on the international markets, Berthold Leibinger considers entering the financial
sector.
During his time on the supervisory board of BMW, hecomes up with the brilliant idea of transferring the concept of leasing new cars to the machine tool market.
For many medium-sized customers, the purchase of amachine tool is a major financial undertaking. With thefounding of TRUMPF Leasing + Service GmbH + Co. KG in
2001, they can now take out leases.
G EN ER AT I ON C HA N G E
After more than 40 years in management, Berthold
Leibinger hands over the reins of the company to thenext generation of the family in 2005 and takes on thechairmanship of the Supervisory Board. His daughter
Nicola Leibinger-Kammüller takes over as Chief Executive Oﬃcer, son Peter Leibinger is responsible for Laser
Technology and Vice CEO, and son-in-law Mathias Kammüller is responsible for the Machine Tools division. The
management team now faces up to new challenges together. Particular attention is paid to the company’s expanded focus on the Chinese market.
T R U MP F P R OD U C ES G LOB A L LY
The rapid rise of China as an industrial nation makes it
essential for TRUMPF to establish a production facility
there.
In 2007, the company establishes TRUMPF Machine
Tools Co. Ltd. in Taicang, 50 kilometers north of Shanghai. Its initial task is to sell TRUMPF machine tools in China. TRUMPF continues to produce high-tech products
such as lasers, control elements and motion units outsideof China and to import them.

Although TRUMPF has been selling products in Japan
since the 1950s, it is not until 2008 that the company
opens its first production company in Fukushima. Before
that, production activities are limited for a long timeto the installation of supplied computer controls in thecompany’s own machine tools and the final assembly ofparts supplied from Germany. The task of the TRUMPF
Manufacturing Corporation is to manufacture storage
systems and automation equipment for machine tools.
MEC HA N I C A L EN G I N EER I N G I N T HE G LOB AL
FI N A N C I A L C R I S I S
On September 15, 2008, the Lehman Brothers investment bank files for bankruptcy. Events on the world’s
financial markets then come to a head. The bursting of
the real estate bubble in the US is seen as the trigger. But
the financial crisis is not the end of the story. Consumption falls sharply worldwide, causing industrial production to slump massively. The major industrialized countries slide into the biggest recession since the Second
World War, with the export-oriented German economy
hit particularly hard. In November 2008, TRUMPF faces
an unexpected slump in its orders. Unlike during the crisis in the 1990s, the company’s management reacts immediately and cuts production. Sales revenues drop by
22.5 percent in fiscal year 2008/09. To avoid compulsory
redundancies, the company introduces short-time working at its German locations, but it quickly becomes clearthat these measures are not enough on their own. As aprecautionary measure, the owner family decides to increase the equity ratio through private contributions.
Despite the slump in sales, the company looks to the
future: TRUMPF acquires British fiber laser manufacturer
SPI Lasers and further increases R&D spending – making
it well prepared when demand picks up again significantly in mid-March 2010. In the following fiscal year,
2010/11, the company records the largest growth in revenues in its history. Sales revenues increase by 51 percent
to 2.02 billion euros.

RE ADY F O R NE W CHA L L ENGES
Above: (from left to right) Peter Leibinger, Nicola Leibinger-Kammüller andMathias Kammüller in 2005 upon taking over the management of the company. At theturn of the millennium, a new customer center is built in Farmington. At the
groundbreaking ceremony, Berthold Leibinger (3rd from left) and his son-in-law
Mathias Kammüller (2nd from right) stand out in their light-colored trenchcoats. Below: The Ditzingen campus expands to include the training center, thesales and service center and a laser factory. Mathias Kammüller and Nicola
Leibinger-Kammüller visiting the subsidiary in Japan in 2007.

2000–
2010

64

2000 -2010

MUINELLIMNewDOIREP

beginnings
napaJ ni stcudorp gnilles neeb sah FPMURT hguohtlA
ynapmoc eht taht 8002 litnu ton si ti ,s0591 eht ecnis
erofeB .amihsukuF ni ynapmoc noitcudorp tsrfi sti snepo
emit gnol a rof detimil era seitivitca noitcudorp ,taht
eht ni slortnoc retupmoc deilppus fo noitallatsni eht ot
fo ylbmessa lanfi eht dna sloot enihcam nwo s’ynapmoc
FPMURT eht fo ksat ehT .ynamreG morf deilppus strap
egarots erutcafunam ot si noitaroproC gnirutcafunaM.sloot enihcam rof tnempiuqe noitamotua dna smetsys
L A B OL G E H T N I G N I R E E N I G N E L A C I N A H C E M
SISIRC LAICNANIF-tsevni srehtorB namheL eht ,8002 ,51 rebmetpeS nO
s’dlrow eht no stnevE .yctpurknab rof selfi knab tnem
fo gnitsrub ehT .daeh a ot emoc neht stekram laicnanfi
tuB .reggirt eht sa nees si SU eht ni elbbub etatse laer eht-pmusnoC .yrots eht fo dne eht ton si sisirc laicnanfi eht-cudorp lairtsudni gnisuac ,ediwdlrow ylprahs sllaf noit
-nuoc dezilairtsudni rojam ehT .ylevissam pmuls ot noit
dnoceS eht ecnis noissecer tseggib eht otni edils seirt
ymonoce namreG detneiro-tropxe eht htiw ,raW dlroW
secaf FPMURT ,8002 rebmevoN nI .drah ylralucitrap tih-irc eht gnirud ekilnU .sredro sti ni pmuls detcepxenu na-mi stcaer tnemeganam s’ynapmoc eht ,s0991 eht ni sis
yb pord seunever selaS .noitcudorp stuc dna yletaidem
yroslupmoc diova oT .90/8002 raey lacsfi ni tnecrep 5.22
-krow emit-trohs secudortni ynapmoc eht ,seicnadnuder
raelc semoceb ylkciuq ti tub ,snoitacol namreG sti ta gni
a sA .nwo rieht no hguone ton era serusaem eseht taht-ni ot sediced ylimaf renwo eht ,erusaem yranoituacerp.snoitubirtnoc etavirp hguorht oitar ytiuqe eht esaerc
eht ot skool ynapmoc eht ,selas ni pmuls eht etipseD
rerutcafunam resal rebfi hsitirB seriuqca FPMURT :erutuf
gnikam – gnidneps D&R sesaercni rehtruf dna sresaL IPS-fiingis niaga pu skcip dnamed nehw deraperp llew ti,raey lacsfi gniwollof eht nI .0102 hcraM-dim ni yltnac-ver ni htworg tsegral eht sdrocer ynapmoc eht ,11/0102
tnecrep 15 yb esaercni seunever selaS .yrotsih sti ni seune.sorue noillib 20.2 ot,FPMURT rof drocer a htiw snigeb muinnellim wen ehT.emit tsrfi eht rof sorue noillib 1 deecxe seunever selas sa-woh ,noitisop laicnanfi doog a hcus ni si enoyreve toN
sevael ymonoce wen eht fo elbbub moctod eht dna ,reve.yteicos fo snoitces daorb ni srotsevni llams no kram sti
S S E N I S U B Y E N O M E H T OT N I E VO M
-ram lanoitanretni eht no selbbauqs eht fo sseldrageR
laicnanfi eht gniretne sredisnoc regnibieL dlohtreB ,stek.rotceseh ,WMB fo draob yrosivrepus eht no emit sih gniruD-noc eht gnirrefsnart fo aedi tnaillirb eht htiw pu semoc.tekram loot enihcam eht ot srac wen gnisael fo tpec
a fo esahcrup eht ,sremotsuc dezis-muidem ynam roF
eht htiW .gnikatrednu laicnanfi rojam a si loot enihcam
ni GK .oC + HbmG ecivreS + gnisaeL FPMURT fo gnidnuof.sesael tuo ekat won nac yeht ,1002
E G N A H C N O I TA R E N E G
dlohtreB ,tnemeganam ni sraey 04 naht erom retfA
eht ot ynapmoc eht fo snier eht revo sdnah regnibieL
eht no sekat dna 5002 ni ylimaf eht fo noitareneg txen
rethguad siH .draoB yrosivrepuS eht fo pihsnamriahc-ucexE feihC sa revo sekat rellümmaK-regnibieL alociN
resaL rof elbisnopser si regnibieL reteP nos ,recﬃO evit
-maK saihtaM wal-ni-nos dna ,OEC eciV dna ygolonhceT
ehT .noisivid slooT enihcaM eht rof elbisnopser si rellüm-ot segnellahc wen ot pu secaf won maet tnemeganam-xe s’ynapmoc eht ot diap si noitnetta ralucitraP .rehteg.tekram esenihC eht no sucof dednap
YL L A B O L G S E C U D O R P F P M U R T
ti sekam noitan lairtsudni na sa anihC fo esir dipar ehT
ytilicaf noitcudorp a hsilbatse ot FPMURT rof laitnesse.erehtenihcaM FPMURT sehsilbatse ynapmoc eht ,7002 nI-gnahS fo htron sretemolik 05 ,gnaciaT ni .dtL .oC slooT-ihC ni sloot enihcam FPMURT lles ot si ksat laitini stI .iah
stcudorp hcet-hgih ecudorp ot seunitnoc FPMURT .an
edistuo stinu noitom dna stnemele lortnoc ,sresal sa hcus
.meht tropmi ot dna anihC fo

RE ADY F O R NE W CHA L L ENGES
Above: (from left to right) Peter Leibinger, Nicola Leibinger-Kammüller andMathias Kammüller in 2005 upon taking over the management of the company. At theturn of the millennium, a new customer center is built in Farmington. At the
groundbreaking ceremony, Berthold Leibinger (3rd from left) and his son-in-law
Mathias Kammüller (2nd from right) stand out in their light-colored trenchcoats. Below: The Ditzingen campus expands to include the training center, thesales and service center and a laser factory. Mathias Kammüller and Nicola
Leibinger-Kammüller visiting the subsidiary in Japan in 2007.

–0002
0102

10 0 Y E A R S O F T R U M P F

65

C L E A R E D GE
Südblech trade show in
Sinsheim in 2002. Employees
set up a bending machine.

66

2000 -2010

10 0 Y E A R S O F T R U M P F

67

L A SE R FAC TO RY, D I T ZI N GE N
The roof landscape laid out
in strips that are alternately
tilted upwards and downwards
is the defining feature of the
production halls on the Ditzingen campus. The diamond-shaped
openings ensure that the work
areas are optimally lit.

Modernfactory68

2000 -2010

10 0 Y E A R S O F T R U M P F

69

TECHNOLOGYHIGHLIGHT

New
work

TRULASE R 5030 F I BE R

D I GI TA L BE GI NNERS
Computers and electronics have become an indispensable part of everyday work and production.
At the beginning of the millennium, this often
means working on large screens and computers.

The TruLaser 5030 fiber works quickly and enables reproducible,
high part quality even when cutting complex contours. Thanks
to the solid-state laser with up to 24 kW of laser power, themachine achieves excellent feed rates. Assistance systems makethe complete machining process more productive and reliable than
T Hever.
E TC 5 0The
0 A SSEM BLY L I N Eoperator
I N H E T T I N GE
N.
benefits:
involvement
is low, non-productive
times supplies
are minimal,parts of
costs
TRUMPFlargeandnumbers
the are low. The machine featuresa powerful
drive
dynamic
axis movements, even for complex
machine(1920)
fromand1991
to 2004.
contours.assemble
Dependingthe model,
it cuts even fine contours in
Employees
andonadjust
thethick structuralsteel
and oversize
sheets.
coordinate
guide thatguidestheinserted sheet metal for punching.

11,700 kg
Weight220 cmHeight35 mm

Sheet thickness

682000 -2010

10 0 Y E A R S O F T R U M P F

YG OL O N H C E T
THGILHGIH

New
work

gk 007,11
thgieWREBIF 0305 RESALURT,elbicudorper selbane dna ylkciuq skrow rebif 0305 resaLurT ehT
sknahT .sruotnoc xelpmoc gnittuc nehw neve ytilauq trap hgih
eht ,rewop resal fo Wk 42 ot pu htiw resal etats-dilos eht ot
mc 022ekam smetsys ecnatsissA .setar deef tnellecxe seveihca enihcam
naht elbailer dna evitcudorp erom ssecorp gninihcam etelpmoc eht
thgieHevitcudorp-non ,wol si tnemevlovni rotarepo :stifeneb ehT .reve
D I GI TA L BE GI NNERS
serutaef enihcam ehT .wol era stsoc strap dna ,laminim era semit
mm 53
xelphave
moc rbecomeof nevean,sindistnemevom sixa cimanyd dna evird lufrewop a
Computers and electronics
ni sruwork
otnocandeniproduction.
f neve stuc ti ,ledom eht no gnidnepeD .sruotnoc
ssenkcipart
ht teehof
S everyday
pensablesteehs ezisrevo dna leets larutcurts kciht
At the beginning of the millennium, this .often
means working on large screens and computers.

T H E TC 5 0 0 A SSE M BLY L I N E I N H E T T I N GE N .
TRUMPF supplies large numbers of themachine (1920) from 1991 to 2004.
Employees assemble and adjust thecoordinate guide that guides theinserted sheet metal for punching.

69

70

2011-2022

10 0 Y E A R S O F T R U M P F

71

AGE OFH I GH -T E C H SO LU T I O N S FO R T H E WO R L D

Without the most powerful pulsed
industrial lasers from TRUMPF,
no modern smartphone would work
today. The huge systems are built
in clean rooms and consist of
metal, electronics, and a lot ofengineering expertise. An EUV
laser weighs more than ten tons.

MICROELECTRONICS

Fridays for Future

Ultra HD
Smartwatch
COVID-19
BrexitFukushima
Donald Trump

Greek sovereign debt crisis
TikTokPokémon Go

ChatGPT

New Silk Road
Germany wins the World Cup

Arab Spring

Black Lives Matter

Russian war of aggression against Ukraine

Charlie Hebdo attack
Refugee crisis in Germany

Death of David Bowie

Death of Queen Elizabeth II
Notre Dame fire

Snapchat

Kevin McCoy, NFT artwork “Quantum”

2011–
2022
5G mobile communications

Microchips
T IN Y HI GH - P E RF O RM ANCE COM P UTERSIntroducing the control centers ofsmartphones and computers: microchips.
To produce them, lithography systems
project light onto silicon wafers ina way that is similar to a photocopiermachine. EUV technology makes it possible to fit 80 billion transistors on
chips the size of a fingernail.

70

2011-2022

FO EGA-ORCIMSCINORTCELE

erutuF rof syadirF

DH artlU
hctawtramS
91-DIVOC
tixerBamihsukuF
sisirc tbed ngierevos keerG

pmurT dlanoD
koTkiT

TPGtahC

oG nomékoPdaoR kliS weN
puC dlroW eht sniw ynamreG

gnirpS barA

rettaM seviL kcalB

eniarkU tsniaga noissergga fo raw naissuR

kcatta odbeH eilrahC
eiwoB divaD fo htaeD

ynamreG ni sisirc eegufeR

II htebazilE neeuQ fo htaeD
erif emaD ertoN

tahcpanS”mutnauQ“ krowtra TFN ,yoCcM niveK

–1102
2 202
snoitacinummoc elibom G5

Microchips
T IN Y HI GH - P E RF O RM ANCE COM P UTERSIntroducing the control centers ofsmartphones and computers: microchips.
To produce them, lithography systems
project light onto silicon wafers ina way that is similar to a photocopiermachine. EUV technology makes it possible to fit 80 billion transistors on
chips the size of a fingernail.

10 0 Y E A R S O F T R U M P F
H I GH -T E C H SO LU T I O N S FO R T H E WO R L D
Without the most powerful pulsed
industrial lasers from TRUMPF,
no modern smartphone would work
today. The huge systems are built
in clean rooms and consist of
metal, electronics, and a lot ofengineering expertise. An EUV
laser weighs more than ten tons.

71

72

2011-2022

Smart
Factory
Chicago

10 0 Y E A R S O F T R U M P F

73

N E T WO R K E D I N D U ST RY
In 2017, TRUMPF completes its
demonstration and sales center near
Chicago. The production chain for
sheet metal components consists ofhigh-tech machines and pioneering
production processes.

74

2011-2022

Live& work

10 0 Y E A R S O F T R U M P F

AGE OFMICROELECTRONICS
The sovereign debt crisis dominates the eurozone in theearly 2010s. Countries such as Greece, Spain and Italy
struggle with huge budget deficits and high rates of unemployment. The heads of state and government of thecommon currency zone decide on the European Stability
Mechanism (ESM), a rescue package designed to provide
emergency loans and guarantees to the aﬀected countries.
D I G I TA L LY N ET WOR KED MAC HI N ES
Microelectronics, on the other hand, experience a real
boom in these and the following years of the decade:Smartphones are equipped with their first voice recognition functions, mobile communications technologies
reach the masses, and artificial intelligence and 5G become widespread. During this time, TRUMPF also breaks
new ground and benefits in many ways from the innovative leaps in semiconductors.
In 2011, for example, when business representatives
first unveil the concept of digitally networked production at Hannover Messe with the slogan “Industry
4.0”, TRUMPF is already raring to go. The company hadlaunched its “TruTops Fab” production control software
in 2010 and since then, had been networking more andmore machine tools and industrial lasers for use in areas
such as the automotive industry.
However, networked manufacturing at TRUMPF reaches its preliminary peak with the first Smart Factory in Chicago in the US in 2017. The engineers had planned forthe technology center there to be completely equippedwith digitally networked production processes. Advisingand supporting customers in introducing manufacturing solutions of this kind is still the core task of the team
there today. Smart Factories in Ditzingen, Taicang andFarmington follow later.

I NNOVATI O N AND RESP ONSIB IL ITY
Above: For their application “Producing with flashes of light – ultrashortpulse lasers for industrial mass production,” researchers from TRUMPF, Boschand the University of Jena receive the German Future Prize in 2013. Peter
Leibinger celebrates with award winner Dirk Sutter. TRUMPF’s new logistics
center in Ditzingen has a storage area equal to around three soccer pitches
and is used as a spare parts and shipping warehouse. The automated small
parts warehouse there has 23,000 bin locations. Below: The daycare centerin Ditzingen can accommodate 75 children of TRUMPF employees and from thecommunity. Nicola Leibinger-Kammüller with her sister Regine Leibinger, who
has played a key role in shaping architecture in the TRUMPF Group since
the late 1990s with her Berlin-based architectural firm Barkow Leibinger.

75

T HE MOS T P OW ER FU L C HI P S
T HA N KS TO L A S ER STRUMPF achieves at least as much success with its lasers
for semiconductor lithography systems, which enable
the most powerful microchips in the world to be produced. After about ten years of development, TRUMPF
delivers the first series systems for a high-performancelaser to Dutch technology giant ASML. With the aid of
this laser, the company can for the first time process microchips with very short-wave light, also known as extreme ultraviolet light (“EUV”). As a result, more than ten
billion transistors can suddenly be accommodated on asingle microchip – and the chips perform many times
better than anything previously available. To do this, the
TRUMPF laser fires 50,000 miniscule droplets of tin persecond. As a result, they heat up to 220,000 degrees toform a plasma and emit particularly short-wave lightwith a wavelength of 13.5 nanometers. No new smartphones or modern computers work today without thesechips produced using EUV.
E-C A R S A N D A N A L L I A N C E FOR WOR K
The innovative leap in microelectronics makes it possible
to develop other technologies that cannot be produced
economically without lasers: complex battery management systems and power electronics help electromobility
achieve a breakthrough. TRUMPF quickly leads the way inthis area, particularly when it comes to green lasers.
Apart from technology, TRUMPF continues to develop in other areas too during this decade, with both employer and employee sides agreeing on an “Alliance for
Work,” one of the most modern company agreements.
The agreement regulates mobile working, flexible working time accounts and the right to further training.
N EW MA R KET S , N EW T EC HN OLOG I ES
In the decade of microelectronics, TRUMPF also expands
into new markets. In 2013, the company enters into a cooperative venture with Chinese machine tool manufacturer Jiangsu Jinfangyuan CNC Machine Company Ltd(JFY) and acquires a majority stake. Back then, TRUMPF
has just under 10,000 employees worldwide and sales
revenues of around 2.3 billion euros.
In 2015, TRUMPF takes over “Eisen- und Hammerwerke Teningen” (EHT), one of the oldest companies inGermany. The company in Breisgau boasts a history ofalmost 250 years, having been founded in 1771, andmanufactures bending machines, among other things.

2011–
2022

L A SE R D I O D E S FO R A P P L E

Laser diodes from TRUMPF help smartphones save power and avoid accidental contact. Among other things, they
are used in Apple’s iPhone. Beforehand, TRUMPF technicians subject thehair-width sensors to extensive
quality controls.

74

2011-2022

FO EGA

10 0 Y E A R S O F T R U M P F

75

Live
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I NNOVATI O N AND RESP ONSIB IL ITY

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FPMURT ,tnempoleved fo sraey net tuoba retfA .decudecnamrofrep-hgih a rof smetsys seires tsrfi eht sreviled

Above: For their application “Producing with flashes of light – ultrashortpulse lasers for industrial mass production,” researchers from TRUMPF, Boschand the University of Jena receive the German Future Prize in 2013. Peter
Leibinger celebrates with award winner Dirk Sutter. TRUMPF’s new logistics
center in Ditzingen has a storage area equal to around three soccer pitches
and is used as a spare parts and shipping warehouse. The automated small
parts warehouse there has 23,000 bin locations. Below: The daycare centerin Ditzingen can accommodate 75 children of TRUMPF employees and from thecommunity. Nicola Leibinger-Kammüller with her sister Regine Leibinger, who
has played a key role in shaping architecture in the TRUMPF Group since
the late 1990s with her Berlin-based architectural firm Barkow Leibinger.

L A SE R D I O D E S FO R A P P L E
Laser diodes from TRUMPF help smartphones save power and avoid accidental contact. Among other things, they
are used in Apple’s iPhone. Beforehand, TRUMPF technicians subject thehair-width sensors to extensive
quality controls.

76

2011-2022

10 0 Y E A R S O F T R U M P F

77

TECHNOLOGYHIGHLIGHT

EUV

Additive
manufacturing

TRUMPF LASE R AMPLI F I E R F OR E UV LI G HTH O N O RE D BY T HE GERM A N P RESID ENT
Above: A TRUMPF employee prepares a measurement.
Representing all the TRUMPF, ZEISS and Fraunhofer employees involvedin the EUV “Generation Project”, three employees receive the German
Future Prize in 2020. The picture shows award winners Peter Kürz,
Michael Kösters and Sergiy Yulin (from left to right).

17,000 kg
A key challenge in EUV lithography is to generate light with anextremely short wavelength. To do this, a tin generator fires
Weight50,000 tin droplets per second into a vacuum chamber, while a laser pulse hits the droplets as they rush by. The laser heats the
230 cmtin droplets to 220,000 degrees, which is about 45 times hotter
than the sun. This creates a plasma flash with the desired waveHeight (Drive Laser)
length of 13.5 nanometers. TRUMPF has developed H
a I GH
unique-T E C H beam
SO LU T I O N S U SI N G M E TA L P OW D E R
purpose. The
source based on its CO2 laser technology for thisIndustrial
3D printers
can produce
30 kW
TRUMPF laser amplifier amplifies a weak laser pulse
in five thatam- cannot
components
be manufactured
plifier stages by more than 10,000 times to overin
30thekilowatts
ofoutputpower
conventional Average
way. Theyareusedaverage power, with a peak pulse power of several
inmegawatts.
the dental, automotive and aerospaceindustries.

76

2011-2022

10 0 Y E A R S O F T R U M P F

77

YG OL O N H C E T
THGILHGIH

EUV

gk 000,71

THGIL VUE ROF REIFILPMA RESAL FPMURTna htiw thgil etareneg ot si yhpargohtil VUE ni egnellahc yek A
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H O N O RE D BY T HE GERM A N P
ehT prepares.esoprup asimeasurement.
ht rof ygolonhcet resal 2OC sti no desab ecruos
Above: A TRUMPF
employee
Wk 03
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Representing all the -TRUMPF,
andFraunhofer
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fo re
wop eslu
p kaepa htiw ,rewop egareva
Future Prize in 2020. The
award
winnersPeter
Kürz,
Michael Kösters and Sergiy Yulin (from left to right).

Additive
manufacturing
H I GH -T E C H SO LU T I O N S U SI N G M E TA L P OW D E R
Industrial 3D printers can produce
components that cannot be manufactured
in the conventional way. They are usedin the dental, automotive and aerospaceindustries.

78

CENTENNIAL YEAR

10 0 Y E A R S O F T R U M P F

79

CENTENNIAL
YEAR
Earthquakes in Turkey and Syria

Oscar for “All Quiet on the Western Front”

Death of Tina Turner

Second year of war in Ukraine

Worldwide end of the coronavirus pandemic
Nuclear phase-out in Germany

Coronation of King Charles III in the United Kingdom

India most populous country on earth

Ice Hockey World Championship

Women’s World Cup

2023

C E N T E N N I A L GA L A U N D E R A BA N N E R O F L I GH T S

680 spotlights in and around the Blautopf
company restaurant at TRUMPF headquarters
in Ditzingen. A stage with 85 square
meters of LED screens. And around 500
invited guests. This is how TRUMPF celebrates its centennial with customers
and prominent representatives from theworlds of politics and science.

78

CENTENNIAL YEAR

10 0 Y E A R S O F T R U M P F

LAINNETNEC
RAEY
airyS dna yekruT ni sekauqhtraE”tnorF nretseW eht no teiuQ llA“ rof racsO

renruT aniT fo htaeD

eniarkU ni raw fo raey dnoceS

cimednap surivanoroc eht fo dne ediwdlroW
ynamreG ni tuo-esahp raelcuN

modgniK detinU eht ni III selrahC gniK fo noitanoroC

htrae no yrtnuoc suolupop tsom aidnI

pihsnoipmahC dlroW yekcoH ecI

puC dlroW s’nemoW3202

C E N T E N N I A L GA L A U N D E R A BA N N E R O F L I GH T S
680 spotlights in and around the Blautopf
company restaurant at TRUMPF headquarters
in Ditzingen. A stage with 85 square
meters of LED screens. And around 500
invited guests. This is how TRUMPF celebrates its centennial with customers
and prominent representatives from theworlds of politics and science.

79

80

CENTENNIAL YEAR

10 0 Y E A R S O F T R U M P F

Festival100

PA RTY M I L E I N S TEA D OF COM PA NY CA M P US
Singing, chatting, dancing: At the “Festival 100” in Ditzingen alone,
more than 4,500 employees celebrate TRUMPF’s centennial. Amongthem are many international colleagues, including people from Mexico,
the Netherlands, Spain, China, India and Indonesia.

81

82

CENTENNIAL YEARL AS E R C LUB
At the centennial festival,
the lawn of the company
campus disappears under ahuge stage show. Bands andDJs play into the night –and employees dance together
like there’s no tomorrow.

10 0 Y E A R S O F T R U M P F

83

84

CENTENNIAL YEARWorldwide
moment10 0 Y E A R S O F T R U M P F

THE
CENTENNIAL YEAR85

O L D TO GE T H E R ,BI G TO GE T H E R“Die Fantastischen Vier”, oneof the oldest and best-known
German hip-hop bands, heats up
the atmosphere at the employee
festival. The band members allcome from the vicinity of thecompany headquarters and know
TRUMPF from their childhooddays. “We made it,” says singer
Thomas D. “We’re playing at
TRUMPF.“

Following the end of the coronavirus pandemic, whichlasted more than two years, global uncertainties continue to dominate the world economy. The Russian warof aggression in Ukraine has already lasted more thana year and has caused energy prices in Germany to rise
sharply, with food prices also rising significantly in thewake of this. In January 2023, the inflation rate in Germany is 8.7 percent. Terms such as “Zeitenwende” (epochal shift), “Energiewende” (energy transition) and “climate-neutral transformation of industry” are shaping
the discussion in Germany about economic and social
development.
FOC U S ON S U S TA I N A B I L I T Y
At TRUMPF, too, the INTECH in-house exhibition is allabout sustainable manufacturing during this centennial year. This includes technologies to save materials, energy and cutting gas. TRUMPF also showcases processes
for reducing or completely avoiding chemicals that areharmful to the environment, for example in automotive production.
At the Laser trade show, the company presents an
AI application for lasers that makes manufacturing
even more eﬃcient. Electric car manufacturers in particular will benefit from this, as electric motors can beproduced in less time – an advantage for local, emission-free e-mobility.
C HA N G E I N T HE S U P ER V I S ORY B OA R D
The key change in this centennial year, however, concerns the leadership of the TRUMPF Group. Jürgen
Hambrecht, Chairman of the Supervisory Board forten years, steps down for age-related reasons. His successor is Peter Leibinger. He is succeeded in the Managing Board by Berthold Schmidt as Chief Technology
Oﬃcer. Also for age-related reasons, Christian Schmitz
leaves the company as the member of the Managing
Board responsible for Laser Technology, and is succeeded by Hagen Zimer.

1 0 0 YEA R S OF T R U MP F
TRUMPF celebrates its centennial with numerous eventsfor customers, business partners and employees. Theoﬃcial celebrations begin on May 12 with a gala evening at the Ditzingen campus. Guests include business partners from all over the world, representatives
from science, business, trade associations and politics.
Baden-Württemberg’s Minister President Winfried Kretschmann gives the keynote speech: “TRUMPF is a callingcard for the world that could not be more impressive. “
However, the TRUMPF centennial is not just about history and looking back on what has already been achieved.
It is also about looking to the future. For this reason, cutting-edge technology also plays a significant role thatevening, with ceremonial speeches, panels and the entire performance focusing on topics of the future – fromlasers to quantum technology.
A WOR L DW I D E C EL EB R AT I ON
The celebrations on July 8 are also among the highlightsof the centennial year. In Ditzingen alone, around 4,500
employees come together to celebrate TRUMPF. Worldwide, around 12,000 TRUMPF employees and their families gather on this day – from Taiwan to Mexico.
The visual highlight of the centennial year is one of
the most powerful show lasers in the world, whichbathes the campus in Ditzingen in green light during
the first week of August. Exactly 100 years after the company was entered in the commercial register, the beamof a converted industrial laser from the company shines
within a radius of around 80 kilometers.

F RO M C H I N A TO THE USTRUMPF employees around the world celebrate its centennial. At 3 p.m. German
time on July 8, 2023, they join the festival at the company’s headquarters andsend greetings from the various time zones. A cake is part of the festivities,of course.

2023

84

CENTENNIAL YEAR

EHTWorldwide
RAEY LAINNETNEC

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Y T I L I B A N I AT S U S N O S U C O F
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era taht slacimehc gnidiova yletelpmoc ro gnicuder rof-omotua ni elpmaxe rof ,tnemnorivne eht ot lufmrah.noitcudorp evit
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gniganaM eht fo rebmem eht sa ynapmoc eht sevael-deeccus si dna ,ygolonhceT resaL rof elbisnopser draoB.remiZ negaH yb de

F RO M C H I N A TO THE USTRUMPF employees around the world celebrate its centennial. At 3 p.m. German
time on July 8, 2023, they join the festival at the company’s headquarters andsend greetings from the various time zones. A cake is part of the festivities,of course.

3202

10 0 Y E A R S O F T R U M P F

85
O L D TO GE T H E R ,BI G TO GE T H E R“Die Fantastischen Vier”, oneof the oldest and best-known
German hip-hop bands, heats up
the atmosphere at the employee
festival. The band members allcome from the vicinity of thecompany headquarters and know
TRUMPF from their childhooddays. “We made it,” says singer
Thomas D. “We’re playing at
TRUMPF.“

86

CENTENNIAL YEARGRE E N L I GH T OVER STUTTGA RT
On August 6, the actual day of the centennial, TRUMPF lights up the sky at
its headquarters with one of the most powerful show lasers in the world.
Together with Lightline, the show laser manufacturer, around 35 experts fromthe company have converted an industrial high-performance laser into an
event laser. Normally, a system of this kind is used to weld batteries forelectromobility, for example.

10 0 Y E A R S O F T R U M P F

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10 0 Y E A R S O F T R U M P F

89

THE FUTURE
WITH TRUMPF

LookingtoUltrashorttomorrow
pulse laser

88

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10 0 Y E A R S O F T R U M P F

ERUTUF EHTFPMURT HTIW

gnikoo L
otworromot

Ultrashortpulse laser

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10 0 Y E A R S O F T R U M P F

Quantumtechnology

GA M E C H ANGE R F OR IND USTRY
No industrial company will be able to ignore quantum technology in the future. The
US alone will be investing around 20 billion dollars in it by the end of the decade.
TRUMPF is taking a two-pronged approach to this future topic. Firstly, the company’s
physicists and engineers are already feeding quantum computers with problems in order
to find new solutions for production.
And secondly, TRUMPF’s wholly-owned subsidiary Q.ANT has brought the first industrialgrade quantum sensors to market. In future, these sensors should enable users to perform a variety of tasks, from controlling prostheses with their minds to measuring
the states of tiny gas particles on a large scale. Q.ANT has also developed a quantum
computer chip that should make it possible to use powerful quantum computers without
having to cool them to extreme sub-zero temperatures, as is usually the case.

3D printing

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Artificial
intelligence

10 0 Y E A R S O F T R U M P F

THE FUTURE
WITH TRUMPF

TRUMPF has always focused on its customers and partners when developing modern manufacturing solutions
and products, and taking a technological and entrepreneurial leadership role remains the company’s goal.
TRUMPF will continue to supply new technologies thatwill enable society to meet the challenges of the coming
years and decades.
L A S E RS F O R E N V I RO N M E N TA L LY F RI E N D LY
D RI V E S A N D H Y D RO G E N
E-mobility has found its way into the mass market. Market analysts expect that in Europe alone every second
car will be an electric car by 2028 – and six out of seven
will be by 2035. But car manufacturers can only produce
high-quality batteries, electric engines and power electronics eﬃciently with the help of networked manufacturing solutions. These include lasers, optics, sensors andsoftware. TRUMPF is a global leader in these systems
thanks to its wealth of experience.
The company can also play to its strengths when it
comes to hydrogen. For example, it is almost impossible
to economically manufacture the stack, which is the coreof the fuel cell, without a laser. The same applies to electrolyzers, which produce the hydrogen. The potential ishuge: to achieve the goal of climate neutrality, experts
reckon that up to 600 million tons of green hydrogen
will have to be traded. This means the global market islikely to reach a volume of around 1.4 trillion US dollars
in 2050.
L A S E RS F O R S E CO N DA RY B E A M S O URC E S
EUV lasers from TRUMPF have enabled the productionof state-of-the-art high-performance microchips forseveral years. This was made possible by a developmental leap in laser technology to particularly high powerand short pulses. EUV was one of the first successful
secondary beam sources. These are lasers that cause
something else to radiate, leading to innovative processes (see also p. 76 right).

M ANU FAC T U RI NG THAT THINK S F OR ITSEL F
Artificial intelligence (AI) is already ensuring greater efficiency, improved
quality and more sustainability in manufacturing thanks to fewer rejects. TRUMPF
would like to take on the role of lead user and lead supplier in this area too
in future. Today, AI is already calculating the best way for full-service laser
machines to sort and select sheet metal parts – or identifying the best place
for welding robots to position their seams when producing electric car engines.

93

Secondary beam sources open up a whole new worldof the future. Beams generated by lasers can gently heal
skin cancer and penetrate barrels of radioactive material without even scratching the surface. At some point,
fusion power plants could even generate clean energy
with the help of lasers. It is not yet possible to put a precise figure on the market for this, but experts agree that,
if successful, it could be worth hundreds of billions ofeuros.
N O RO C K E T S C A N F LY I N TO S PAC E
WI T H O UT L A S E RS
Commercial space travel is not possible without 3D printers. Today, TRUMPF technology is already being used in
the rapidly growing aerospace industry known as New
Space. Aerospace companies use lasers to weld rockets
and 3D printers to manufacture thrusters for space shuttles and satellites, for example. According to one forecast, the market volume for commercial space services
alone is expected to increase to 459 billion US dollars by
2030. Market volumes for commercial rockets and satellite hardware are also expected to grow significantly.
P OWE R A M P L I F I E RS F O R PA RT I C L E
ACC E L E RATO RS
Scientists need the giant particle accelerators for basic
and materials research, and doctors are increasingly using them for low-impact and precise cancer therapies.
In the chemical, pharmaceutical and manufacturing industries, particle accelerators enable deep insights into
substances and materials through X-ray imaging, thereby acting as a catalyst for innovation. TRUMPF Hüttinger develops and produces the technological heart ofparticle accelerators: power amplifiers that accelerateelementary particles almost to the speed of light. The
market for irradiation equipment in heavy ion and proton therapy for cancer alone is estimated by experts tobe worth around 10 billion euros. And upcoming major
projects, such as the Future Circular Collider at CERN in
Switzerland, are likely to use particle accelerators worth
around 400 million euros.

Particle
Looking toaccelerators
tomorrow

92

LOOKING TO TOMORROWERUTUF EHT
Artificial
FPMURT HTIW

10 0 Y E A R S O F T R U M P F

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M ANU FAC T U RI NG THAT THINK S F OR ITSEL F

ot gnikoo L
worromot

Artificial intelligence (AI) is already ensuring greater efficiency, improved
quality and more sustainability in manufacturing thanks to fewer rejects. TRUMPF
would like to take on the role of lead user and lead supplier in this area too
in future. Today, AI is already calculating the best way for full-service laser
machines to sort and select sheet metal parts – or identifying the best place
for welding robots to position their seams when producing electric car engines.

Particle
accelerators

93

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LOOKING TO TOMORROW

10 0 Y E A R S O F T R U M P F

Alternative
drives95

96

LOOKING TO TOMORROWThe TRUMPF
story
FACTS AND FIGURES ABOUT
THE HISTORY OF TRUMPF

1923 –
Christian Trumpf acquires the Julius Geiger GmbHmechanical workshop in Stuttgart and produces
flexible shafts.

1934 –
The company introduces the first motor-driven
hand shears (HSP 201) for cutting sheet metal.

In addition to its range of electric hand shears
and flexible shafts, TRUMPF also manufactures
foot pumps for aircraft construction as a subsupplier to Elektron-Co. mbH in Bad Cannstatt.
In total, more than one hundred employees
work for the company. A third of them are
French forced laborers, most of whom comefrom the town of Vierzon, south of Paris. The
production facilities remain undamaged.

1953 –TRUMPF now has an international presence attrade shows and begins to build up a customer
base abroad. Hugo Schwarz becomes a partnerand commercial director and works for thecompany in this position until 1978.

97

1956 –
Berthold Leibinger begins an experimental
diploma thesis at TRUMPF, working on improving
the cutting process for shearing machines.

1961 –
Berthold Leibinger becomes head of design.
The company employs 325 people and achieves
sales revenues of DM 11 million.

– 1933
An increase in the number of employees
makes a move to Weilimdorf necessary.

1967 –TRUMPF unveils the TRUMATIC 20, the firstsheet metal processing machine with numericalpath control.

– 1937The company is renamed “ TRUMPF & Co.
formerly Julius Geiger GmbH”.

1939 –

10 0 Y E A R S O F T R U M P F– 1947
Christian Trumpf decides to build a stationary
curve shear machine, which is introduced under
the name TRUMPF Aushauschere TAS.

– 1948Due to the new product area, TRUMPF changes
its logo in 1948. The spade logo will be in use formore than thirty years.

– 1955
TRUMPF opens a factory in Hettingen
in the Swabian Alb.

1978 –The new President and CEO of TRUMPF,
Berthold Leibinger, returns from a fact-finding trip
through the US with a special piece of luggage:a CO² laser. In the same year, TRUMPF founds its
subsidiary in Yokohama, Japan.

– 1957
TRUMPF patents the coordinate guide for sheet
metal: it is the starting point for NC control,
which will soon be used on all machine tools.

– 1963
The first foreign subsidiary is founded in Zug,
Switzerland, in 1963. This is followed by a
subsidiary in Farmington, US, in 1969.
The first TRUMPF TKF 100 beveler is built.

– 1972
TRUMPF moves its location to Ditzingen.
The production conditions and traﬃc infrastructure in Stuttgart-Weilimdorf are no longer
appropriate for the company. Berthold
Leibinger and Hugo Schwarz acquire Christian
Trumpf’s shares and become TRUMPF’s sole
shareholders. TRUMPF employs 800 people andachieves sales revenues of DM 73 million.

– 19791985 –TRUMPF gets a new logo. The company employs
1,500 people and achieves sales revenues of nearly
DM 300 million.
TRUMPF launches itself as a laser manufacturer,
with the first CO² laser developed and produced
in-house, the TRUMPF LASER TLF 1000.

TRUMPF moves into laser technology. The
company introduces the first combination
punch-laser machine, the TRUMATIC 180
LASERPRESS. 500 and 700-Watt CO² lasers
from the US are used as beam sources.

– 1987
TRUMPF presents another innovation in thisfield, the TRUMATIC L 3000, a flatbed laser
cutting machine with flying optics.

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LOOKING TO TOMORROW

1989 –
The first ‘folded’ laser in a TRUMATIC 240
LASERPRESS is presented at EMO in Hannover.

1992 –In 1991, “Sächsische Werkzeug- und Sondermaschinen GmbH” under the administration of
Treuhandanstalt Berlin begins manufacturingloading equipment for TRUMPF. In 1992, thecompany is privatized as a subsidiary of the
TRUMPF Group.

2003 –
Opening of the new sales and service center at
the Ditzingen location. The company presents the
prototype of a disk laser with 4 kW laser power asa world first.

2009 –TRUMPF showcases the first highly brilliant
multi-kilowatt industrial laser with high-power
laser diodes as a direct beam source. The Machine
Tool Development Center and the Laser
Technology Center are opened in Ditzingen.

2012 –On December 31, 2012, Professor Berthold
Leibinger steps down as Chairman of theSupervisory Board of the TRUMPF Group forage-related reasons. The company’s Supervisory
Board elects Dr. Jürgen Hambrecht, former CEO
of BASF SE, as his successor.

2014 –
Foundation of TRUMPF Bank.

– 1990The cooperation between HÜTTINGER and
TRUMPF that began back in 1986 has developed
so well over the years that in 1990, TRUMPF
acquires the majority shares in HÜTTINGER.

– 1998A new laser factory is inaugurated, making
Germany a secure production location.

– 2005
Dr. Nicola Leibinger-Kammüller becomes Chief
Executive oﬃcer and Professor Berthold Leibinger
takes over as Chairman of the Supervisory Board.

– 2011
The new Alliance for Work for TRUMPF locationsin Germany is adopted. At its core is a highly
flexible working time model that takes into
account employees’ respective life phases andso goes well beyond standard working time
contracts.

– 2013
TRUMPF expands its development headquarters
for solid-state lasers in Schramberg with a new
development center, thereby adding 6,200 square
meters of built space to the company location.

Researchers from TRUMPF, Bosch and the
University of Jena are awarded the coveted
German Future Prize for their application“Producing with flashes of light – ultrashortpulse lasers for industrial mass production.”
TRUMPF acquires a majority stake in Chinesemachine tool manufacturer JFY.

10 0 Y E A R S O F T R U M P F

992015 –TRUMPF takes over EHT WerkzeugmaschinenGmbH in Teningen, one of the oldest companies
in Germany.

Establishment of Additive Manufacturing division.

2017 –In September 2017, TRUMPF opens the Smart
Factory in Chicago, a technology center for
Industry 4.0 solutions that works entirely withdigitally networked production processes.

2020 –In recognition of their project “EUV Lithography –New Light for the Digital Age,” German President
Frank-Walter Steinmeier awards his prize for technology
and innovation to the team of researchers led byMichael Kösters, TRUMPF Laser Systems for
Semiconductor Manufacturing, Peter Kürz, ZEISS
Semiconductor Manufacturing Technology (SMT)
division, and Sergiy Yulin, Fraunhofer Institute forApplied Optics and Precision Engineering IOF in Jena.

– 2016
With its updated Alliance for Work, TRUMPF
responds to the challenges of the futuresuch as dynamic brand development, thedigital transformation and the need formore individuality.

– 2019TRUMPF opens a company daycare center at
its headquarters in Ditzingen in May 2019.
A total of 70 children can be cared for in the
1,200 square meters building.

– 2021
Dr. Peter Leibinger receives the Cross of Meriton Ribbon of the Order of Merit of the Federal
Republic of Germany.
TRUMPF opens a capital city oﬃce near the
Brandenburg Gate in Berlin.

TRUMPF opens a new Smart Factory in Ditzingen,Germany – the company’s third fully networked factory
after Chicago, US, and Taicang, China.

2022 –
The former TRUMPF GmbH + Co. KG now operates
under the name TRUMPF SE + Co. KG.

At aglance100

10 0 Y E A R S O F T R U M P F

Company101

102

CO M PA N Y

10 0 Y E A R S O F T R U M P F

Berthold
Schmidt

OliverMaassen

103

Managing Board

Hagen
Zimer

StephanMayer

Lars
GrünertNicolaLeibingerKammüller

MathiasKammüller

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10 0 Y E A R S O F T R U M P F

105

Message from theManaging Board
LADIES AND GENTLEMEN,TRUMPF had an extremely successful fiscal year 2022/23, which ended on June 30, 2023 and marks the first half of
the “100 Years of TRUMPF” centennial year.

The company succeeded in increasing sales revenues by 27 percent compared to the previous year (4.2 billion euros)
to 5.4 billion euros – the highest figure in our company’s history. Never before have we exceeded the 5 billion euro
threshold. At 591 million euros, June 2023 was also the strongest single month in our company’s history in termsof sales revenues.
We significantly increased sales revenues in our home market of Germany, recording an increase of 32.2 percent to 779 million euros. We were particularly successful in the Americas. In the US, our sales revenues were up
38.5 percent to 899 million euros. In China, our largest Asian market, we boosted sales revenues by 4.7 percent to
602 million euros.
If we look at the business divisions and selected business fields, the Machine Tools division in particular saw sales
revenues increase by 32.8 percent to 3,038 million euros. The Laser Technology business division also achievedvery high growth of 28.0 percent, with sales revenues there rising to 2,059 million euros. Our EUV business likewise
posted very significant growth, with sales rising by 22.2 percent to 971 million euros.
Our earnings before interest and taxes (EBIT) improved by 147 million euros to 615 million euros as a result of thesignificant growth in revenues compared to the previous year (468 million euros). Despite higher raw material,
logistics and personnel costs, the EBIT margin was 11.5 percent (previous year: 11.1 percent).
Notwithstanding our satisfaction with sales revenues and earnings, we have also been feeling the eﬀects of theweakening global economy since the beginning of calendar year 2023 in the form of declining orders. Measured
against the previous year (5.6 billion euros), our order intake fell by 8.8 percent to 5.1 billion euros in the pastfiscal year.
Although the outlook for the global economy was subdued, we again increased investments in the past fiscal year,
in particular in construction measures at various locations worldwide. In addition to Laser Area 4 and the TRUMPF
Education Center at our headquarters in Ditzingen, Germany, we invested in various new buildings and expansions,
including those in Schramberg, Warsaw and Budapest. Investments increased by 44.7 percent compared to theprevious year (218 million euros) to a new all-time high of 316 million euros.

Our company also increased its shareholdings. In February 2023, we agreed on a strategic partnership for Smart
Factory solutions with STOPA , one of the leading manufacturers of automated storage systems. In this context,
TRUMPF acquired a 25.1 percent stake in STOPA Anlagenbau GmbH. In March 2023, we increased our stake in
Auroma Technologies Co. Dba Access Laser Company (USA) from 85.0 percent to 100.0 percent.
At 476 million euros, research and development costs were significantly higher than in the previous year
(448 million euros). Relative to increased sales revenues, the R&D ratio decreased slightly to 8.9 percent (previous
year: 10.6 percent), but remained at a very high level, well above the industry average. The number of employees
in research and development increased by 8.8 percent to 2,853 (previous year: 2,623).
We increased the total number of our employees worldwide from 16,554 in fiscal 2021/22 to 18,352 as of thereporting date of June 30, 2023. New jobs were created in the growth fields of EUV and Electronics in particular, which
underscores our aspiration to contribute to value creation and employment with innovations even in diﬃcult times.
In Germany, TRUMPF employed 9,124 people as of the balance sheet date of June 30, 2023 (previous year: 8,417).
This is nearly half of our global workforce, although Germany’s share of total sales revenues is only 14.5 percent.
Outside Germany, the number of employees increased by 13.4 percent to 9,228 (previous year: 8,137).
In the year under review, 550 young people also completed a training course or co-op work-study program. The
training ratio was 3.5 percent.
On behalf of the Managing Board – both the new Board and the one in oﬃce until June 30, 2023 – I would like tothank all TRUMPF employees for their commitment in fiscal year 2022/23!
I would like to combine these thanks with an equally big thank you to our loyal customers and business partners,
without whom we would have been nowhere near as successful as we have been over the past 100 years – including this past fiscal year!
Ditzingen, October 2023
Dr. phil. Nicola Leibinger-Kammüller
Chairwoman of the Managing Board

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10 0 Y E A R S O F T R U M P F

107

Message from theSupervisory Board
LADIES AND GENTLEMEN,

The Ukraine war and increasing geopolitical tensions between the US and China led to bottlenecks and price increases
in many value chains in fiscal year 2022/23, and the pace of growth decreased in almost all markets. In this challenging business environment, TRUMPF once again increased sales revenues and earnings, successfully and consistently
pursuing its strategy of growth through innovation, portfolio management, and investments, including investments
ensuring the company’s supply capability.
The Supervisory Board exercised the monitoring and advisory responsibilities incumbent on it under the law and theGroup’s articles of association with due care and diligence. In doing so, the Supervisory Board and the Managing
Board worked together eﬀectively and eﬃciently in a spirit of trust. The Chairwoman of the Managing Board reported
regularly and promptly to the Chairman of the Supervisory Board about all events of significance. In three meetings
during the fiscal year, the Supervisory Board addressed the strategic development of the company as a whole, operational excellence and digital transformation, China and high-volume markets, the expansion of business in North
America, the future of laser and quantum technology and the Electronics business field, data security, employee
satisfaction, talent management, and compliance and auditing. Regular items on the agenda were business development, budget monitoring, risk provisioning, and key future areas such as EUV lithography, additive manufacturing,
photonic components, and investment and portfolio projects.
In the fiscal year, the Supervisory Board appointed Dr. Berthold Schmidt as successor to Dr. Peter Leibinger (fromJuly 1, 2023 for three years) and Dr. Hagen Zimer as successor to Dr. Christian Schmitz (from July 1, 2023 for three years)
to the Managing Board. Oliver Maassen’s contract was extended by five years (from October 1, 2023). We would liketo thank Dr. Schmitz for his many years of service to the company.
On the Supervisory Board, the undersigned, Dr. Peter Leibinger, took over as Chairman eﬀective July 1, 2023.
Ms. Elke Reichart (eﬀective July 1, 2023) and Mr. Alexander Hasselbächer (eﬀective October 1, 2022) joined theSupervisory Board as new members. We would like to thank departing Supervisory Board members Martin Röll andProf. Dr. Claudia Eckert for their many years of constructive and trusting cooperation.
PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft, Stuttgart, audited the separate and consolidated
annual financial statements and the Group Management Report, and issued an unqualified audit opinion in eachcase. Following presentation by the auditors and having completed their own reviews of the separate and consolidated annual financial statements, the proposed appropriation of earnings, and the Group Management Report, theSupervisory Board approved the financial statements prepared by the Managing Board without objection.
The Supervisory Board wishes to thank the Managing Board members and all employees worldwide for their outstanding commitment and constructive personal contributions to the company’s success. We would also like to thankthe Works Council for its valuable cooperation.
Ditzingen, October 2023
Dr.-Ing. E. h. Peter Leibinger
Chairman of the Supervisory Board

108

CO M PA N YCOMPANYINFORMATIONManaging Board

Supervisory Board **D R . R E R . N AT. J Ü R G E N H A M B R E C H T (to 06/30/2023),• Chairwoman of the Managing Board of TRUMPF SE + Co. KG• Responsible for Corporate Communications,Public Policy & Brand, Corporate Development, Group Legal &Integrity, and Corporate Real Estate & Sustainability• Chairman of the Supervisory Board of Leibinger SE

D R . - I N G . E . H . P E T E R L E I B I N G E R (to 06/30/2023)
Chief Technology Oﬃcer (CTO)• Vice Chairman of the Managing Board of TRUMPF SE + Co. KG• Responsible for Corporate Technology & New Business, the areas of
EUV and Venture Capital, and for developing new business fields

Neustadt a. d. Weinstraße

D R . - I N G . E . H . P E T E R L E I B I N G E R (from 07/01/2023),

Schwieberdingen• Chairman of the Supervisory Board of Leibinger SE

R E N AT E L U K S A* * *, Vaihingen/Enz• Vice Chairwoman of the Supervisory Board of Leibinger SE• Chairwoman of the Joint Works Council of
TRUMPF Werkzeugmaschinen SE + Co. KG, Ditzingen

DR . RER . POL . LARS GRÜNERT

P R O F. D R . R E R . N AT. C L AU D I A E C K E R T (to 06/30/2023),• Member of the Managing Board of TRUMPF SE + Co. KG• Responsible for Group Finance & Controlling and Internal Risk
Management, Financial Services, and Treasury & Insurance• Professor of IT Security at the Technical University of Munich• Director of the Fraunhofer Institute for Appliedand Integrated Security (AISEC), Garching

Chief Financial Oﬃcer (CFO)

D R . - I N G . M AT H I A S K A M M Ü L L E R
Chief Digital Oﬃcer (CDO)• Member of the Managing Board of TRUMPF SE + Co. KG• Responsible for Corporate Business Information Services, Corporate
Marketing, Sales & Services, and Corporate Operations

D I P L . - B E T R I E B S W. O L I V E R M A A S S E N
Chief Human Resources Oﬃcer (CHRO)• Member of the Managing Board of TRUMPF SE + Co. KG• Responsible for Human Resources (Labor Director)

D R . - I N G . S T E P H A N M AY E R

Chief Executive Oﬃcer Machine Tools (CEO MT)• Member of the Managing Board of TRUMPF SE + Co. KG• Responsible for national subsidiaries and regions

D R . R E R . N AT. B E R T H O L D S C H M I DT (from 07/01/2023)
Chief Technology Oﬃcer (CTO)• Member of the Managing Board of TRUMPF SE + Co. KG• Responsible for Corporate Technology & New Business,
the areas of EUV, Electronics, Venture Capital, and Photonic
Components, and for developing new business fields

D R . - I N G . C H R I S T I A N S C H M I T Z (to 06/30/2023)
Chief Executive Oﬃcer Laser Technology (CEO LT)• Member of the Managing Board of TRUMPF SE + Co. KG• Responsible for national subsidiaries and regions

D R . R E R . N AT. H AG E N Z I M E R (from 07/01/2023)
Chief Executive Oﬃcer Laser Technology (CEO LT)• Member of the Managing Board of TRUMPF SE + Co. KG• Responsible for national subsidiaries and regions

Partners
L E I B I N G E R FA M I LY
• 90.0 percent

BERTHOLD LEIBINGER STIF TUNG GMBH*• 10.0 percent***

Indirectly via Berthold Leibinger Beteiligungen GmbH
Supervisory Board of the Managing Partner of
TRUMPF SE + Co. KG*** Employee representative

109

LOCATIONSIN GERMANY

DR . PHIL . NICOL A LEIBINGER-K AMMÜLLER
Chief Executive Oﬃcer (CEO)10 0 Y E A R S O F T R U M P F

Garching

D R . - I N G . / U . C A L . M A R K U S F L I K , Stuttgart• Industrial Advisor & Investor,
Member of Supervisory and Advisory Boards

S T E FA N F U C H S , Hirschberg• Chairman of the Executive Board of FUCHS SE, Mannheim

A L E X A N D E R H A S S E L B ÄC H E R * * * (from 10/01/2022),
Lahnau• Second Authorized Representative of IG Metall Stuttgart, Stuttgart

D I R K H Ö L S C H * * *, Oberndorf a. N.

• Chairman of the Works Council of TRUMPF Laser GmbH, Schramberg

P R O F. R E G I N E L E I B I N G E R , Berlin• Managing Director and Partner
Barkow Leibinger Architekten, Berlin

14

J A N L I N D E M A N N * * *, Freiburg• Head of Global Engineering Electronics,
TRUMPF Hüttinger GmbH + Co. KG, Freiburg

Y V O N N E M Ö L L E R * * *, Stuttgart• Union Secretary of IG Metall, Baden-Württemberg, Stuttgart

R A I N E R N E S K E , Frankfurt• CEO of Landesbank Baden-Württemberg, Stuttgart

E L K E R E I C H A R T (from 07/01/2023), Ammerbuch• Former Chief Digital Oﬃcer (CDO) of TUI AG,
Member of Supervisory and Advisory Boards

M A R T I N R Ö L L* * * (to 09/30/2022), Tübingen• Second Authorized Representative of IG Metall Stuttgart, Stuttgart

H A R A L D W E I H B R E C H T- B E T Z * * *, Trochtelfingen• Head of Production Unit Assembly Modules,
TRUMPF Werkzeugmaschinen SE + Co. KG, Hettingen• Ditzingen(headquarters)• Gerlingen• Hettingen• Aachen• Berlin• Freiburg• Herzogenrath• Neukirch• Schramberg• Stutensee• Stuttgart

Selected locations of legally independent and dependent companies.

• Teningen• Ulm• Unterföhring

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CO M PA N Y

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111

LOCATIONSIN EUROPELOCATIONSWORLDWIDE(excluding Germany)(excluding Europe)

29• Sofia, Bulgaria• Haguenau, France• Paris, France• Luton, United Kingdom• Southampton,
United Kingdom• Dublin, Ireland• Milan, Italy• Turin, Italy• Vicenza, Italy• Zagreb, Croatia• Eindhoven, Netherlands• Hengelo, Netherlands• Spankeren, Netherlands• Pasching, Austria• Warsaw, Poland• Zielonka, Poland• Lisbon, Portugal• Bucharest, Romania• Moscow, Russia• Alingsås, Sweden• Baar, Switzerland

Selected locations of legally independent and dependent companies.

• Grüsch, Switzerland• Košice, Slovakia• Madrid, Spain• Vitoria-Gasteiz, Spain• Liberec,
Czech Republic• Prague,Czech Republic• Istanbul, Türkiye• Budapest, Hungary

AM ERI CAS

ASI A- PACI FI C

• São Paulo, Brazil• Mississauga, Canada• Apodaca, Mexico• Querétaro, Mexico• Chicago, IL, US• Costa Mesa, CA, US• Cranbury, NJ, US• Detroit, MI, US• Farmington, CT, US• Santa Clara, CA, US• Wilmington, DE, US• Dongguan, China• Beijing, China• Shanghai, China• Shenzhen, China• Taicang, China• Yangzhou, China• Chennai, India• Pune, India• Jakarta, Indonesia• Yokohama, Japan• Kuala Lumpur, Malaysia

28• Manila, Philippines• Singapore,
Rep. Singapore• Seoul, South Korea• Taoyuan City, Taiwan• Bangkok, Thailand• Ho Chi Minh City,
Vietnam

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CO M PA N Y

EMPLOYEESBY REGION

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113

SALES REVENUESBY REGION
in million euros

TOTA LTOTA L E XC LU D I N G G E R M A N YTOTALTOTAL EXCLUDI NG GERM ANY

18,352

9,228

5,365

4,586

plus 10.9 %plus 13.4 %plus 27.0 %plus 26.2 %GERMAN Y

EUROPEE XC LU D I N G G E R M A N Y

GERM ANYEUROP EEXCLUDI NG GERM ANY*

9,124

5,048

779

1,280

plus 8.4 %plus 19.6 %plus 32.2 %plus 26.4 %AME R IC A S

A S I A - PAC I F I CAM ERI CAS*

ASI A- PACI FI C*

1,683

2,497

1,161

1,159

plus 9.2 %plus 5.0 %plus 42.8 %plus 16.0 %COOP ERAT I ONS(EUV BUSI NESS)

971
plus 22.2 %Figures as of June 30, 2023/Percentage change year on year.

Figures as of June 30, 2023/Percentage change year on year.
* We conducted our EUV business almost exclusively in the Netherlands as this is where our customer ASML has its headquarters.
As this distorts the regional view, sales revenues in the regions are shown adjusted for the share attributable to EUV.

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10 0 Y E A R S O F T R U M P F

TRUMPF GROUPKEY FIGURES
2021/222022/23

Change from2021/22 inpercent

SALES REVENUES

4,222.8

5,364.5+27.0

O R D E R I N TA K E

5,577.4

5,088.0

–8.8

468.4

615.4

+31.4

EBIT MARGIN

11.1

11.5

+3.4

INVESTMENTS

218.2

315.7

+44.7

RESEARCH AND
DEVELOPMENT COSTS

448.0

476.3

+6.3

B A L A N C E S H E E T T O TA L

4,586.1

5,019.1+9.4

EQUIT Y2,387.1

2,700.4

+13.1

52.1

53.8

+3.3

2,500.1

2,709.9

+8.4

54.5

54.0

–0.9

16,554

18,352+10.9

in million euros

in million euros
EBIT

in million euros

in percent

in million euros

in million euros
in million euros

in million euros
E Q U I T Y R AT I O

in percent

ECONOMIC EQUIT Y*

in million euros

E C O N O M I C E Q U I T Y R AT I O

in percent

E M P L OY E E S O N J U N E 3 0

number* Equity capital plus long-term loans from partners

Sustainability

115

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S U S TA I N A B I L I T Y

Success is born ofentrepreneurial courageand the joy of innovation.
But also responsibility.
Besides a fascination for technology, one
hundred years of success is only possible
through farsightedness and responsible
action – through sustainable decisions
for the benefit of future generations.
Acting accordingly with regard to people and the environment has therefore
always been a natural part of TRUMPF’s
company history. It can be seen in many
examples from the past as well as in
our ambitious climate strategy for the
future. Identifying technological waysof conserving resources has become oneof our core areas of action.

10 0 Y E A R S O F T R U M P F

117

TRUMPF’s
climate strategy
TRUMPF has made a commitment to the Paris Agreement’s 1.5 °C target and is reducing its emissions accordingly. In concrete terms, this means that by 2030, there shouldbe 55 percent fewer emissions from TRUMPF locations and the vehicle fleet (Scopes
1+2) and 14 percent fewer emissions in the upstream and downstream value chains(Scope 3) – in each case compared to 2019. In view of TRUMPF’s strong growth, thesegoals are a challenge that requires particular attention. For this reason, TRUMPF has
included sustainability in its long-term TRUMPF strategy in fiscal year 2022/23.
At our locations, TRUMPF has been achieving success for years through ambitious
projects for greater energy eﬃciency. In this area, the company has outperformed theemissions targets set for this year. In the upstream and downstream value chain (Scope3), projects are underway to reduce emissions in areas such as product development
and purchasing. However, the measures will only have a visible impact in the coming
fiscal years, as their implementation will take place over a longer period of time.

Emissions
2018/19

Emissions
2022/23

ChangeMarket-based

45,148*25, 915– 43%

Location-based

83,895*86,2293%

790,103*

1,074,898

36%

5,677,223*

5 , 5 4 6 , 0 0 6 **– 2 % **

168,117353,342110%

Scopes 1+2:
Locations

Scope 3.1:
Purchased goods and services
Scope 3.11:
Use of sold products
Other Scope 3:
Transportation, investments,
commuting, business travel* Baseline recalculation of Scopes 1, 2 and 3.1 due to better data availability and alignment of emission
factors. Recalculation of Scope 3.11 to follow in fiscal year 2023/24.
** Preliminary
Note: Scope 1+2 energy consumption in 2022/23: 273,510.3 MWh

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S U S TA I N A B I L I T Y

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119

Efficiency &elegance
HOW TRUMPF IS COMBINING ARCHITECTURE
WITH CLEVER ENERGY CONCEPTS
TRUMPF buildings are imposing and sustainable.
Hidden inside are ingenious energy concepts.

1a / Ditzingen

1b / Ditzingen

1c/ Ditzingen

2 / Schramberg

3 / Hettingen

4 / Liberec

5 / Pasching

6 / Taicang

7 / Apodaca

When constructing the first oﬃce
building at its headquarters inDitzingen, TRUMPF placed particular emphasis on good lighting andventilation for all workstations,modern recreation rooms, airconditioning and good building
materials. (1972)

When commissioning machines,
TRUMPF relies on automatic
shutdowns and provides coolingwater for lasers as needed, forexample. The elaborate project
resulted in particularly significant
savings. (2016ﬀ.)

At its headquarters, TRUMPF uses
waste heat from chillers to heatbuildings via heat pumps. This
generates around 750 MWh ofthermal energy at the location.
TRUMPF is implementing similar
projects all over the world. (2022)

6

7

During endurance tests of powerelectronic assemblies, TRUMPF
feeds a large portion of the energy used back into the power grid
instead of releasing it into theenvironment as heat. This saves
282 MWh annually. (2019)

Since the expansion of the Hettingen location, TRUMPF has beenusing water from the nearby River
Lauchert to cool its buildings andmachines. Chillers are now onlyused for peak loads. (2016)

TRUMPF is steadily replacing lightbulbs with LED lamps. Liberec is
one of the first factories to beconverted. Converting to LED
saves TRUMPF a total of around2000 MWh per year compared toconventional light sources. (2019)

4
1
2

3

5

TRUMPF brings the building at
the Pasching location to theright temperature with the helpof concrete core activation.
This creates a pleasant indoor
climate and keeps energy
consumption low. (2015)

In Taicang, TRUMPF uses a heatpump combined with geothermalenergy for heating. As a result, thelocation is heated entirely without
fossil fuels. This together with green
electricity means that operations
are entirely carbon neutral. (2018)

The Apodaca location has many
photovoltaic systems and canbe completely self-suﬃcient inelectricity thanks to the goodconditions. (2021)

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S U S TA I N A B I L I T Y

10 0 Y E A R S O F T R U M P F

121Technology &design
HOW TRUMPF IS MAKING ITS PRODUCTS
MORE SUSTAINABLE
TRUMPF products combine aesthetic appeal and technical excellence.
Even the very first TRUMPF products are characterized by their quality andease of use. In recent decades, the focus has increasingly shifted to theeconomical use of energy and resources.

70
PERCENTLESSENERGY

Efficiency in laser cutting

Today, customers can do their laser cuttingwith a fraction of the energy required in 2009.
This is due to several innovations at once:
Compared to CO2 lasers, solid-state lasers are
more eﬃcient, and the shorter wavelength
also couples better into the steel sheet. At thesame time, the “Highspeed Eco” add-on function ensures that a large proportion of cutting
gas can be saved. As a result, laser cutting now
consumes 70 percent less energy.

Durability

This OMS 4 sheet metal cutter has been in use
for about 80 years, from the late 1930s to 2019.
Its long service life is due to good product quality,
excellent service and mindful use by customers.
Extended use is the norm for TRUMPF products.
Around 70 percent of the machines change
hands during their lifetime and then continue tofunction for ten years or more. TRUMPF makes
sure that its products provide lasting service andhas also been certifying partners who recondition machines for many years.

Ergonomics

In the 1930s, TRUMPF develops the S4 grinder, which
is driven by a flexible shaft. The lower working weightof the hand-guided tool improves the precision of thegrinding results and protects the operator’s health in
the long term. To this day, good ergonomics and maximum product safety are second nature to TRUMPF.

BrightLine Speed
Delta Drive

The patented drive works electrically. A
machine with Delta Drive requires around20 percent less energy than a machinewith a hydraulic punching head.

In 3D laser cutting, the BrightLine Speed addon function provides 60 percent more cutting
speed with 50 percent less cutting gas consumption. Taken together, this reduces energy
consumption per part by 15-20 percent.

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S U S TA I N A B I L I T Y

10 0 Y E A R S O F T R U M P F

123

Vision of the future& audacity
HOW SOLUTIONS FROM TRUMPF ARE HELPING SHAPE
THE TECHNOLOGIES OF TOMORROWTRUMPF solutions are important drivers of success in the major
emerging industries of energy, sustainable mobility and digitalization.

Photonics

Vertical cavity surface-emitting lasers (VCSELs)
and photodiodes help meet the ever-increasing demand for data transmission on theinternet and in supercomputers. They keepenergy consumption low: with VCSELs, manytimes more data can be transmitted overoptical fibers with only a fraction of theenergy required by copper cables.

Electromobility

Electric cars cannot be produced economicallywithout lasers. The laser welds the battery
cells and joins them together to form modules
or packs. It ensures crash-proof battery trays,
welds copper connections and is used in the
production of electric motors. Laser diodes
from TRUMPF also ensure greater sustainability
in e-mobility. When used to dry battery foils,
they save energy and space in production
compared to the ovens that would otherwise
be used.
Photovoltaics

In recent years, TRUMPF’s Electronics businessdivision has helped make photovoltaics increasingly powerful and competitive. Generators
improve the coatings of solar panels andconsequently their eﬃciency. Battery inverters
eﬃciently store the recovered energy and thenrelease it.

Chips of the future

The most powerful pulsed industrial laser in the world ever shoots at
50,000 tin droplets per second twice. EUV lithography is not only aunique technical feat, but the basis for the most advanced generation ofsemiconductors. These microchips produced with EUV have ultra-highcomputing power and enable artificial intelligence, automotive and 5G
applications.

AROUND10

million

E-CARS WILL BE MANUFACTURED IN 2023 WITH
THE HELP OF TRUMPFTECHNOLOGY.

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S U S TA I N A B I L I T Y

10 0 Y E A R S O F T R U M P F

125Ingenuity &experience
HOW THE USE OF TRUMPF SOLUTIONS MAKES OUR
CUSTOMERS’ PRODUCTS MORE SUSTAINABLE
With 100 years of expertise in sheet metal processing, TRUMPF
has an intimate understanding of its customers’ challenges
and requirements. TRUMPF solutions make these customers’ end
products much more sustainable.

THE USE OFTRUMPF TECHNOLOGIESCAN SAVE UP TO

70

PERCENT
CO 2 PER PART.

Hot forming

In the late 2000s, high-strength steel in theautomotive industry ensures maximum stability
despite thin and therefore lightweight material. The laser is the only tool capable of cutting
the required material quickly, without burrs
or wear. This paves the way for the widespreaduse of high-strength steels in vehicles, forexample in B-pillars.

Part design

Since the late 1990s, TRUMPF and its team ofdesign and technology experts have beenadvising customers on the sustainable designof sheet metal structures. The carbon footprintof a sheet metal assembly can easily be reduced
by up to 70 percent compared to conventional
milled or welded designs and is still associatedwith significantly lower manufacturing costs.
Recently, TRUMPF subsidiary Optimate alsobegan oﬀering AI-supported softwarethat automatically detects the potential for
improvement in a sheet metal structure.

Tailor-welded blanks

Since the 1990s, lasers have enabled the automotive
industry to weld or cut body components of various
thicknesses. This has resulted in a significant contribution to lightweight construction and lower fuelconsumption.

Active Speed Control

The “Active Speed Control” add-on function
continuously monitors the laser cutting process,automatically regulates the feed rate and getsthe best out of the sheet metal depending on its
quality and thickness. This ensures high processreliability and saves material.

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S U S TA I N A B I L I T Y

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127

Trust &
responsibility
HOW TRUMPF IS SHAPING THE WORKING ENVIRONMENT
AND MAKING AN IMPACT ON SOCIETY

Alliance for WorkIn 2011, TRUMPF introduces a pioneering
working time model in Germany: employees
can choose their own working hours, making
them more compatible with their respective
life situations. In this way, TRUMPF is setting
a new standard for the entire industry andconsolidating its reputation as an outstanding
employer.

At TRUMPF, it goes without saying that a company can only
be as good as its employees. This is why good working conditions
and training have always played a major role.

Education and research

We see education and research as an unshakable foundation for technological progress andinnovation. As a research-intensive company,
we also take this responsibility seriously andsupport various education and research projects.
This pillar of our success is also reflected in our
day-to-day business. For example, TRUMPF has
a very high R&D ratio of 8.9 percent measured
against sales revenues.

Art and culture

Training

At TRUMPF, responsibility for the next generation has always been partof the equation: with apprenticeships and dual studies in Germany andsimilar programs in the US, China, France, Czechia and India. The numberof people learning a trade at TRUMPF is increasing every year – mostrecently to 550 in Germany alone.

As a culture-loving company, we want to create
an inspiring general working environment
by promoting cultural and artistic projects. In
doing so, we increase the attractiveness of our
locations for our employees as well as for thegeneral public. We have been supporting art
and cultural projects for many years – locally,
regionally and internationally. For example,
our location in the UK sponsors the Hastings
Philharmonic Orchestra and TRUMPF Switzerland supports the Kulturhaus Rosengarten in
Grüsch. This is our way of bringing art to life,
both inside and outside the company.

Engagement in social issues

TRUMPF supports social and charitable organizations worldwide. The company is committed
to social values and equal opportunities. It
supports a large number of collaborative
partnerships and local projects. These includebhz, a Stuttgart-based institution oﬀering
support to disabled people, and the Apla
Ghar NGO in Pune, India, which supports anorphanage, a vocational training institute forschoolchildren and a hospital, for example.
This enables us to help socially disadvantaged
people participate in society and to promote achange of perspective in our workforce.

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10 0 YEAR S OF TRUMPF

GroupManagement
Report129

ANNUAL REPORT 22|23

130

Group
Management
Reportfor fiscal year 2022/23

10 0 YEAR S OF TRUMPF

separate business fields. This is the case, for example, with our Chinese machine tools brand JFY in the
Machine Tools division, and with Electronics in the Laser
Technology division.

Financial Managementof the TRUMPF Group

The Machine Tools and Laser Technology business divisions are managed by a divisional management team.
The managing directors or CEO s of each business division are supported by a management team whose members are responsible for diﬀerent functions of the value
chain: research and development, production, sales andservice, finance and human resources. The two businessdivision heads are also members of the management
holding company’s Managing Board.

Business divisions and business fields

Alongside its two business divisions, TRUMPF manages
its activities in the areas of EUV, Photonic Components
and Financial Services in separate business fields. These
are led by separate management teams, each of which
reports directly to a member of the Managing Board.

Global presence – close to our customers

Structure andBusiness Activities
Laser Technology andMachine Tools – our portfolio
Machine tools for flexible sheet metal and tube processing represent our largest area of activity. Our productrange includes machines for bending, punching, andcombined punch-laser processes as well as for laser cutting and laser welding applications. Diverse automation
solutions and a wide range of software for networked
manufacturing solutions round oﬀ the portfolio.
Our product range in laser technology includes laser
systems for cutting, welding, surface treatment of
three-dimensional parts, and marking lasers and systems. We oﬀer high-performance CO 2 lasers, disk andfiber lasers, diode lasers, and ultrashort pulse lasers.
The Electronics business field is part of Laser Technology, and includes products with direct-current, high-frequency and medium-frequency generators for inductive material heating, surface coating, and processing
using plasma technology, as well as for laser excitation.

3D printing systems for metallic components and medical implants are also included in our portfolio. As partof our additive manufacturing activities in this area, we
use the two relevant technologies of laser metal fusion
and laser metal deposition.
CO 2 lasers for EUV lithography constitute another business field, which involves using extreme ultraviolet radiation to produce even smaller, more eﬃcient circuits
and microchips.

In addition to the existing business with high-performance diode lasers, laser diodes from the Photonic
Components business field are used in smartphones,
digital data transmission, and sensors for autonomous
driving.

The TRUMPF Group is present in all its major markets worldwide. We have 87 operating subsidiaries in
Europe, the Americas, and the Asia-Pacific region. We
have industrial production facilities in Europe (Austria,
Czech Republic, France, Germany, Italy, Poland, Switzerland, and the United Kingdom), on the American
continent (US and Mexico), and in China. In addition,
we carry out software development at our locations inGermany, Spain and India.
Our headquarters are located in Ditzingen, Germany.
We support our customers with comprehensive services covering the entire life cycle of our products. We
oﬀer a full range of services – from financing, tools andspare parts, technical service, consulting and training
through to functional upgrades, process optimization
concepts, monitoring and analytical tools, and trade in
pre-owned machinery.

Organizational structure
The holding company TRUMPF SE + Co. KG is the organizational umbrella under which the TRUMPF Group
operates. Operational responsibility for the businessdivisions and business fields is divided among various
members of the Managing Board.
The TRUMPF Group’s operating business is mainly organized in the two business divisions Machine Tools andLaser Technology. Within these business divisions, individual product and market segments are managed as

GROUP MANAGEMENT REPORT131

GROUP MANAGEMENT REPORTThe TRUMPF Group uses divisional accounting to reflect
its division-oriented organizational structure from abusiness management perspective.
As a result, all sales revenues and costs of the individual
legal entities are allocated to the business divisions andbusiness fields bearing global management responsibility for these, regardless of the legal structure.

Functional management responsibility
At TRUMPF, the consolidated profit and loss statement isprepared using the cost-of-sales method. This provides
business support to the divisional management teams
in exercising their functional management responsibility. The cost of goods sold and the cost of sales, researchand development, and administration are presented
transparently in the profit and loss statement.

Sustainable value growth
The ultimate business objective of the TRUMPF Group
is to continuously increase the value of the company bygenerating lasting positive value added.
Value added by the TRUMPF Group is defined as theoperating result before interest and taxes (EBIT – earnings before interest and tax) minus the cost of capitalof the operationally invested capital.
The cost of capital is defined as the minimum rate of
return on the average invested capital. The minimum
rate of return ( WACC – weighted average cost of capital) for fiscal year 2022/23 of 9.5 percent (previous year:
9.5 percent) is before taxes and is derived from a representative peer group of companies from the business divisions and business fields. The WACC is reviewed
regularly.

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ANNUAL REPORT 22|23

At TRUMPF, the ultimate business objective of continuously increasing the value of the company is broken
down into three operational objectives:(1) High growth(2) Adequate profitability(3) Eﬃcient capital employedin k€(1) High growth

Sales revenues
Growth compared to previous year

(2) Adequate profitability

Earnings before taxes

2022/232021/225,364,513

4,222,768

27.0 %

20.5 %

409,502

8,896

63,831––1,898–5,012–/+ Other financial income and financial expenses
EBIT

as a % of sales revenues(3) Efficient capital employed

Intangible assets+ Tangible assets

Operating fixed assets

Trade receivables–248

615,355

11.5 %

11.1 %

81,565

127,826

1,608,750

1,433,528

1,690,315

1,089,859

844,809

1,437,218

1,255,346

Down payments received–386,086–457,847–

Trade payables–447,677–420,367=

Invested capital (reporting date June 30)

as a % of sales revenues (of the previous 12 months)

Invested capital (average 2)
Value added

Invested capital (average 2)x

WACC (before taxes)=

Cost of capital–=

1,693,314

Likewise, maintaining a high equity ratio guarantees thecompany’s economic independence. Economic equity,which includes long-term liabilities to partners, serves
as an additional key figure.

3,383,629

63.1 %=

65.9 %

2,593,285

3,147,081

2,593,285

9.5 %

9.5 %

298,973

246,362

615,355

468,428

Cost of capital–298,973–246,362

2021/22305,669

430,923

Cash outflow from investing activities (operating)–389,340–218,649

Cash and cash equivalents, securities

648,717803,159

Free cash flow

+ Other financial receivables*–83,671

212,274–

10,550+ Medium-term financial investments

105,787

232,101–

Financial liabilities–410,338–319,149

Equity2,700,399

2,387,106

9,511

113,029=

Net financial position

as a % of the balance sheet total+ Long-term liabilities to partners (> 1 year)=

Economic equity

as a % of the balance sheet total* From FY 2022/23, other financial receivables will no longer be included in the net financial position.
Comparability with the previous year is therefore limited.

222,066¹ Included in other operating income and other operating expenses² Average over the 12 months of the fiscal year

GROUP MANAGEMENT REPORT

2022/23

Cash inflow from operating activities

2,783,295

3,147,081

316,382–

1,221,941

EBIT
Value added

For this reason, the company plans to achieve its sustainably high growth objective on an organic basis as far as
possible. The investments required for this are generally to be financed by TRUMPF’s operating cash flow inorder to generate a positive free cash flow.

1,561,354–

Working capital

In turn, this positive free cash flow is used to strengthen
the company’s net financial position. A strong net financial position enables TRUMPF to finance even substantial individual investments, such as corporate acquisitions, from its own resources.

107

468,428+ Inventories+

Financial independence

in k€608,605=

133

The TRUMPF Group is a family-run company. The family’s aim is to manage TRUMPF in a way that is autonomous over the long term and independent of external investors.

+ Financial and investment result
Exchange rate gains of the net financial position 1

10 0 YEAR S OF TRUMPF

GROUP MANAGEMENT REPORT

344,166

53.8 %

2,709,910

54.0 %

726,66152.1 %

2,500,135

54.5 %

ANNUAL REPORT 22|23

134

Economic Report
Economic environment
Change in gross domestic productin percent
Compared to 2021, global growth slowed down in 2022.
6.3

3.6

3.5

2.8

2020
2018

2019

2021

2022

–2.8
Source: International Monetary Fund

Inflation, rising interest rates and high energy
prices dominate global economic development
Fiscal year 2022/23 was characterized by the recovery
of supply chains and improved delivery times, while persistently high inflation and key interest rate hikes by central banks impacted economic performance. The hopedfor recovery in global economic development due to theend of the coronavirus pandemic in 2022 was halted by rising interest rates, high energy prices and the Russian warof aggression against Ukraine. These factors continued to
impact global growth in the second half of the fiscal year.
According to IMF figures, the global economy grew by
3.5 percent in 2022 overall. The IMF expects an increase of
3.0 percent for 2023 as a whole. Compared with the rest of
the world, economic output in the industrialized countries
grew by just 2.7 percent in 2022, compared with 5.4 percent in the previous year. The IMF calculated slightly stronger growth of 3.5 percent for the eurozone. At 1.8 percent,Germany was among the countries with lower growth compared with the eurozone average. For 2023, the growth
expectation is only 0.9 percent, with a decline of 0.3 percent forecast for Germany.
The US, on the other hand, grew by 2.1 percent in 2022,
below the average for the industrialized countries; growthof 1.8 percent is expected for 2023. At 1.0 percent, growth
in Japan was at the lower end of the industrialized countries in 2022, similarly to Germany, and is expected toincrease slightly to 1.4 percent in 2023.

The emerging economies also saw their growth rate
weaken in 2022, averaging 4.0 percent. China’s economy
expanded by only 3.0 percent in 2022, following strong
8.4 percent growth in the previous year. The economies
of Brazil and Mexico also grew less strongly than in theprevious year, by 2.9 percent and 3.0 percent respectively.
India, on the other hand, continued to record high growthof 7.2 percent. For 2023, the IMF expects the growth ratein the emerging markets to remain constant at an average of 4.0 percent.
While energy and food prices stabilized in most countries,
the tightening of monetary policy in the first half of 2023
had a destabilizing eﬀect on the financial markets. Turmoil
among banks, as recently seen in the US and Switzerland,
added to the uncertainty but remained local in its impact
for the time being. Russia’s ongoing war in Ukraine andrestrained consumer spending in China also remain key
factors in the global economic growth trend.
Weaker order intake in machineryand plant engineering
The machinery and plant engineering sector proved
its resilience in 2022 thanks to solid order backlogs. As
supply bottlenecks eased, the global machinery industry increased its sales revenues by 12 percent year-onyear to 3,385 billion euros. Of note in this context areexchange rate and price increase eﬀects, which meantthat sales revenues grew by only 2 percent on a purevolume basis. Despite the easing of supply chain problems, the German Mechanical Engineering Industry
Association ( VDMA ) believes that 2023 will continue
to be fraught with uncertainty – primarily due to theweakening order intake in the first few months of thecalendar year. For this reason, the VDMA is forecasting only price-adjusted growth in revenues of one percent for 2023.
Laser technology market stagnates
despite growth in electromobility
Based on a study by Optech Consulting, the overall market for industrial laser systems in 2022 was unable tosustain the strong 25.0 percent growth of the previous
year and stagnated at a market volume of 22 billion US
dollars. Here, too, the industry is suﬀering from currency exchange eﬀects – while demand grew in local
currencies, the market failed to grow in dollar terms.
Market development in 2022 was characterized primarily by opposing regional trends, with robust demand in
the Americas and a simultaneous decline in demand in
China. By application area, electromobility and semiconductor manufacturing continued to deliver impressive growth.

10 0 YEAR S OF TRUMPF

Order intake

Business Development in million euros
Sales revenues and earnings reached record
levels despite difficult conditions
In the past fiscal year, TRUMPF again exceeded the 5 billion mark for its order intake, but fell short of the alltime high from the previous year. For the fiscal year asa whole, the TRUMPF Group’s order intake of 5,088 million euros was 8.8 percent below the previous year’s
figure of 5,577 million euros. As a result, we were notquite able to achieve the forecast, which had envisioned
a similarly high order intake level.
Sales revenues, on the other hand, rose sharply in thepast year: by 27.0 percent to a new high of 5,365 million
euros (previous year: 4,223 million euros). The strong
growth was due, among other things, to a significant
reduction in supply chain problems and the high orderbacklog from the previous year, which we were able towork oﬀ to a greater extent than expected. The forecast growth in revenues was significantly exceeded. Our
book-to-bill ratio, the ratio of order intake to sales revenues, was 0.95, a significant reduction compared withthe previous year (1.32).
At 615 million euros, EBIT was significantly higher
than the previous year (468 million euros). The earnings increase was driven in particular by strong growth
in revenues. We were therefore able to achieve theexpected EBIT from the forecast. Last year’s solid levelof returns was again slightly exceeded, with the EBIT
margin rising from 11.1 percent to 11.5 percent. The
forecast EBIT margin was consequently also achieved.
Particularly in view of the still very uncertain economic
environment, we are very satisfied overall with the margin achieved.
We again generated clearly positive value added of
316 million euros in the past fiscal year. EBIT growth
was significantly higher than growth in the average
cost of capital, so value added increased by 94 million euros compared with the previous year (222 million euros). The forecast increase in value added wastherefore achieved.
Overall, we largely met our forecasts for the year underreview. While our sales revenue targets were significantly exceeded, order intake was below expectations.
EBIT, EBIT margin, and value added were all in line with
forecasts.

Optech Consulting forecasts that the overall market
for industrial laser systems will grow between 5 and
10 percent in 2023. North America in particular is seen
as a growth driver.

GROUP MANAGEMENT REPORT135

GROUP MANAGEMENT REPORTThe order intake was below the record of the previous
fiscal year, but still exceeded the 5 billion mark.
5,577

3,681

18/19

3,278

19/20

Order intake trend:

5,088

3,925

20/21

21/22

22/23

– 8.8 %

Order intake fell short of theprevious year’s record level
At 5,088 million euros, the order intake fell 8.8 percent
short of the previous year’s all-time high (5,577 million
euros). Performance varied among the business divisions and business fields. Following the strong previous year, the Machine Tool business division had alreadyanticipated a decline in order intake in its forecast. However, at 2,818 million euros, the decline compared tothe previous year (–9.0 percent) was less severe than
expected. The Laser Technology business division, on
the other hand, achieved the forecast growth in orderintake and, at 2,080 million euros, was 14.0 percent
up on the previous year (1,824 million euros). This wasprimarily due to continued strong growth in the Electronics business field. The EUV business field recorded
a significant decline in orders in the past fiscal year. At
809 million euros, the order intake was 23.5 percent
below the record figure of the previous year (1,057 million euros) and also significantly below the forecast.
The order backlog decreased by 276 million euros in
the past fiscal year, but at 2,504 million euros is still at
a very high level (previous year: 2,780 million euros).

ANNUAL REPORT 22|23

136

Sales revenues
in million euros
Sales reached a new all-time high in the fiscal year
2022/23.

5,365

3,784

4,223
3,488

3,505

Significant supply relationships exist between the business divisions and business fields. These sales revenues
are consolidated across the TRUMPF Group.
Significant growth in revenues in all regions
We conduct our EUV business almost exclusively in the
Netherlands as this is where our customer ASML has its
headquarters. As this distorts the regional view, the following comments on sales development by region do
not include sales revenues from the EUV business as acooperation.
Sales revenues by region and cooperation
2022/232021/22

Total

5,365

4,223

Europe (excluding Germany)

1,280

1,013

Asia-Pacific

1,159

1,000

971

795

in million euros
18/19

Sales trend:

19/20

20/21

21/22

22/23

+ 27.0 %Sales revenues rose sharply andreached a new all-time high
TRUMPF recorded strong growth in revenues in thepast fiscal year. This was largely driven by significantly
reduced supply chain bottlenecks and the high orderbacklog from the previous year, which we were able towork oﬀ to a greater extent than expected. Sales revenues increased by 27.0 percent from 4,223 million euros
to 5,365 million euros, reaching a new historic high inthe year of the company’s 100th anniversary.
Sales revenues in our Machine Tools business division increased by a strong 32.8 percent to 3,038 million euros (previous year: 2,289 million euros). In thepast fiscal year, the business division was able to derive
particularly significant benefit from fewer problems inthe supply chain, which in combination with the highorder backlog led to the strong growth in revenues. As
a result, the business division also clearly exceeded thegrowth anticipated in the forecast.
At 2,059 million euros (+28.0 percent; previous year:
1,609 million euros), the Laser Technology business division also achieved high growth in revenues comparedto the previous year. Forecast sales revenues were also
exceeded. Laser Technology benefited from continued
strong growth in the electronics business and in theelectromobility sector.
The EUV business again recorded strong growth in revenues. Driven by the sharp increase in order intake inthe previous year, sales revenues in the current fiscal
year rose by 22.2 percent to 971 million euros (previous year: 795 million euros). As a result, the ambitious
sales revenues forecast was achieved.

Germany

Americas

Other

779

1,161
15

Cooperations (EUV business)

589

813
13

In our home market of Germany, we significantly grew sales
revenues in the past fiscal year, recording an increase of
32.2 percent to 779 million euros (previous year: 589 million euros). Following the rather restrained growth in theprevious year, this development is very encouraging. The
growth rate was above the Group average; only in theAmericas was growth even higher.
The markets in the rest of Europe also recorded double-digit growth on average. The major Western European
markets of Italy (+46.9 percent), France (+39.0 percent),
Spain (+36.3 percent) and the United Kingdom (+20.5 percent) all posted very significant increases, while sales revenues in Austria stagnated (+0.9 percent). Following aslight decline in the previous year, sales revenues in our
major Eastern European market, the Czech Republic, rose
again very significantly (+40.6 percent). In Poland(+16.4 percent) and particularly in Hungary (+50.2 percent),
we continued to achieve significant growth. Due to theongoing war, sales revenues in Russia fell to a minimum(–91.2 percent), while sales revenues in Ukraine remained
at a very low level. As a result, the cumulative share ofGroup sales revenues accounted for by both countries has
now fallen to just 0.1 percent.
The American markets can look back on a particularly
successful fiscal year. In the US, we maintained our strong
growth from the previous year with sales revenues increasing by 38.5 percent to 899 million euros. In Mexico, we
more than doubled our sales revenues (+160.4 percent);
Canada, on the other hand, achieved only a slight increase(+5.4 percent). South America again saw strong growth – in

GROUP MANAGEMENT REPORT

10 0 YEAR S OF TRUMPF

137

Brazil, our largest market there, sales revenues increasedby 59.9 percent.
The Asian-Pacific markets also achieved double-digit
growth overall. In China, our revenues increased to
602 million euros despite the continuing diﬃcult economic conditions. However, at 4.7 percent growth inrevenues, we fell short of the previous year’s growthrate. In the other Asian-Pacific markets, on the other
hand, we achieved significant overall growth. Growth
was driven by the two largest markets, South Korea(+43.4 percent) and Japan (+29.7 percent). India again
recorded impressive growth (+30.1 percent), while sales
revenues in Taiwan declined (–10.1 percent).
Americas’ share of sales revenues up,
Asia-Pacific down
Germany’s share of sales revenues increased slightly
year-on-year to 14.5 percent (previous year: 13.9 percent). By contrast, the share of Europe excluding Germany
remained virtually constant at 23.9 percent (previous year:
24.0 percent). The portion attributable to the American
markets rose to 21.6 percent (previous year: 19.3 percent).
Conversely, Asia-Pacific’s share of sales revenues, at
21.6 percent, was down on the previous year (23.7 percent). The share of sales revenues accounted for by
the EUV business in the past fiscal year was 18.1 percent(previous year: 18.8 percent).

Results of operations, net
assets and financial position
EBIT
in million euros
The significant year-on-year increase in earnings was driven inparticular by strong sales growth.

615
468
349

18/19

309

19/20

370

20/21

21/22

22/23

EBIT margin:

11.5 %

Strong growth in revenues resulted
in substantial increase in earnings
At 615 million euros, EBIT was significantly higher thanthe previous year (468 million euros). The earnings
increase was driven in particular by robust growth inrevenues. We thus exceeded the good level of returns
achieved in the previous year. The EBIT margin rose from
11.1 percent in the previous year to 11.5 percent in thefiscal year under review.
The cost of goods sold includes all expenses attributableto products or services sold in the fiscal year as well as
any remaining costs of the purchasing, production, andservice operating areas that are not allocable to products or services. In line with our sales performance, thecost of goods sold was significantly higher than the previous year (2,556 million euros) at 3,353 million euros.
The cost of sales ratio rose to 62.5 percent (previous
year: 60.5 percent). The substantial increase is due tocost increases on the purchasing side. These mainly
include inflation-related price adjustments by our
suppliers and higher energy costs, which we did notpass on in full through price increases. Gross profit was
2,012 million euros (previous year: 1,667 million euros).
Sales costs include all personnel expenses allocatedto the sales division, other operating costs (mainly
travel and marketing costs), depreciation and amortization, and material costs for our showrooms. Freightand packaging costs are also included under this item
to the extent that they can be allocated to transport
from the production plant to the customer. The rise of
25.3 percent to 687 million euros is partly attributable
to higher commission and freight costs due to higher
sales. Personnel expenses also rose as a result of the
expansion of the workforce and collectively agreed pay
rises. Non-personnel costs also increased, in particular
due to higher marketing, trade show and travel costs.
The increase in non-personnel costs was due not only
to volume but also to inflation. The sales costs to sales
ratio remained virtually constant in fiscal year 2022/23
at 12.8 percent (previous year: 13.0 percent).
Research and development costs comprise all amounts
spent on fundamental research and new developments
and not related to current production. These include inparticular personnel, non-personnel, and material costs,
as well as depreciation and amortization. Research anddevelopment costs increased from 448 million euros to476 million euros in fiscal year 2022/23. The main cost
drivers were the expansion of the workforce and collectively agreed pay rises. At 8.9 percent, the research anddevelopment ratio was lower than in the previous year
(10.6 percent). Historically, it remains at a high level.
General administrative costs include in particular personnel expenses, depreciation and amortization andother non-personnel costs relating to management,

GROUP MANAGEMENT REPORTANNUAL REPORT 22|23138

IT, human resources, legal, corporate communications,infrastructure, and finance. Costs in the administrative
area also increased significantly compared to the previous year, amounting to 281 million euros (previous
year: 237 million euros). The increase was also due tothe expansion of the workforce, collective pay increases
and a significant rise in IT expenses. Preparations forthe introduction of SAP S/4HANA were one reason forthe higher IT expenses, along with an overall increasein the number of projects and inflation-related priceadjustments by our suppliers. The administrative cost
ratio remained virtually constant at 5.2 percent (previous year: 5.6 percent).

Other operating income (327 million euros, previous
year: 267 million euros) and other operating expenses(277 million euros, previous year: 228 million euros)
mainly comprised items that could not be allocated to
specific functions as well as oﬀsetting exchange rate
gains and losses resulting from operating and financing transactions and the hedging of these transactions. The sharp increase in other operating income
was mainly due to significantly higher exchange rate
gains and the release of accruals. Furthermore, we also
realized income of 28.5 million euros in the past fiscal
year from insurance compensation for last year’s planecrash at the Farmington site (US). Higher exchange rate
losses and increased write-downs of receivables werethe main drivers behind the significant increase in otheroperating expenses. Expenses from the plane crash in
the previous year were still included in the amount of
6.2 million euros.
At –9 million euros, the financial and investment result
was 55 million euros better than in the previous year(–64 million euros). Significantly lower interest expenses
from accruals for pensions were the main reason for thesignificantly improved financial result. The valuation of
the Contractual Trust Agreement investment resulted
in a slight gain in the past fiscal year, compared withan exchange rate loss of 14 million euros in the previous year.
Taxes on income in fiscal year 2022/23 amounted to
147 million euros, 48 million euros higher than the previous year (99 million euros).
Overall, consolidated net income for the year was
462 million euros (previous year: 310 million euros).

Balance sheet structure
in percent and in million euros
The balance sheet total increased by 9.4 percent in the year.
Assets36.1 %

63.4 %

0.5 %

Total

4,586
21/22

Equity and liabilities
36.7 %
Fixed assets

62.5 %
Current
assets0.8 %Deferred tax
assets

5,019
22/23

52.1 %

53.8 %
Equity

0.1 %

0.1 %
Special items

18.8 %

29.0 %

4,586
21/22

18.1 %
Accruals

28.0 %
Liabilities

5,019
22/23

Net assets and financial position:
Sharp rise in trade receivables in particular
The balance sheet total in the fiscal year under review
rose by 9.4 percent to 5,019 million euros (previous year:
4,586 million euros).
Fixed assets increased to 1,840 million euros (previous year: 1,656 million euros) – a rise of 11.1 percent.
The increase was largely due to a significant rise in newinvestments in tangible assets (see the comments in thesection on investments).
Current assets including prepaid expenses and deferred
tax assets rose by 8.5 percent to 3,179 million euros (previous year: 2,930 million euros). Inventories (before
down payments received) increased by 14.5 percent to 1,437 million euros (previous year: 1,255 million euros) due to the significantly higher production
output. In addition, our eﬀorts to keep delivery times
to our customers as short as possible also led to anincrease in inventories. However, inventories increased
at a below-average rate compared to sales revenues,
resulting in a reduction in days inventories outstanding (DIO) from 107 to 96 days. Down payments received
decreased slightly to 386 million euros (previous year:
458 million euros). Due to the significant increase insales revenues, days payments received (DPR) decreased
more significantly, falling by 13 days to 26 days (previous
year: 39 days).

GROUP MANAGEMENT REPORT

10 0 YEAR S OF TRUMPF

Trade receivables increased by 29.0 percent to 1,090 million euros (previous year: 845 million euros) as a resultof the sharp rise in sales revenues. Consequently, receivables rose almost in proportion to sales revenues, withdays sales outstanding (DSO) increasing by only one day
to 73 days (previous year: 72 days).
Trade payables rose by 6.5 percent to 448 million euros(previous year: 420 million euros). Days payables outstanding (DPO) decreased by 6 days to 30 days (previous year:
36 days) as a result of sales revenues.
Working capital – the sum of inventories and trade receivables less down payments received and trade payables –increased by 38.6 percent to 1,693 million euros (previous
year: 1,222 million euros). Due to the disproportionate
increase in working capital compared with sales revenues,
the working capital ratio as a percentage of sales revenuesrose from 28.9 percent to 31.6 percent.
Cash and cash equivalents fell by 19.2 percent to 649 million euros (previous year: 803 million euros). At 306 million euros, cash inflows from operating activities were
substantially lower than in the previous year (431 million euros), with the significant increase in working capital having a particularly negative eﬀect here. Due to the
sharp increase in the investment budget, cash outflows
from operations-related investing activities were higher
than in the previous year at 389 million euros (cash outflows: 219 million euros). Free cash flow in the past fiscal
year was therefore negative at –84 million euros (previous
year: 212 million euros).
Cash inflows from other investing activities came to 84 million euros (previous year: cash outflows of 143 million
euros). The cash inflows resulted primarily from the significant reduction in medium-term financial assets (assets witha remaining term of more than three months). Added tothis were declining net investments in financial assets andonly very minor additions to the scope of consolidation.
Cash outflows from financing activities fell to 129 million euros (previous year: 280 million euros). In fiscal year
2022/23, new liabilities of 102 million euros were incurredand existing liabilities to external lenders of 13 million
euros were repaid.
The sum of all cash-relevant changes in cash in hand
therefore amounted to –129 million euros (previous year:–210 million euros).

GROUP MANAGEMENT REPORT139

The net financial position – the sum total of cash and cash
equivalents, securities in current assets, and medium-term
financial assets included under other assets less financial
liabilities – fell by 52.6 percent to 344 million euros (previous year: 727 million euros), mainly as a result of the higher
level of investing activities and the increase in working
capital.
Equity increased by 13.1 percent to 2,700 million euros in
the fiscal year under review (previous year: 2,387 million
euros). The sharp increase was mainly due to the very goodearnings performance. As in the previous year, decisions on
the appropriation of earnings are not made until the following fiscal year in some cases, with the result that consolidated net income attributable to the parent company
is recognized in equity. Due to the lower increase in thebalance sheet total, the equity ratio increased to 53.8 percent (previous year: 52.1 percent). Economic equity, which
includes long-term liabilities to partners, rose by 8.4 percent to 2,710 million euros (previous year: 2,500 million
euros), and the economic equity ratio decreased from54.5 percent to 54.0 percent.
Accruals increased by 5.2 percent to 909 million euros (previous year: 864 million euros). This was mainly due to theincrease in personnel accruals and customer-related accruals, and was countered by increased investments in plan
assets for the accruals for pensions.
Liabilities increased in total by 4.4 percent to 1,282 million
euros (previous year: 1,227 million euros). The development of financial liabilities and trade payables has alreadybeen explained above.
Liabilities to partners decreased by 24.8 percent from
372 million euros to 280 million euros. As in the previous
year, the appropriation of earnings will in some cases not
be decided until after the annual financial statements.

ANNUAL REPORT 22|23

140

Investments and acquisitions
Investments
in million euros
Investment soared to a new record high in 2022/23.
59.1 percent of our expenditure was in Germany.

316

288

In March 2023, we increased our stake in Auroma Technologies Co. Dba Access Laser Company (USA ) from85.0 percent to 100.0 percent.

218

194

Acquisitions and divestments
In February 2023, we agreed on a strategic partnershipfor smart factory solutions with STOPA , one of the leading manufacturers of automated storage systems. In
this context, TRUMPF acquired a 25.1 percent stake in
STOPA Anlagenbau GmbH. Among other things, STOPA
supplies automated storage systems for TRUMPF ’s
Smart Factory solutions. Customers can use them toautomate the loading and unloading of their machines
and to network them logistically.

145

Employees
18/19

19/20

Investment trend:

20/21

21/22

22/23

+ 44.7 %Level of investment rose to new record
high in fi scal year 2022/23
TRUMPF invested more in the past fiscal year thanever before, with investments increasing by 44.7 percent over the previous year’s level (218 million euros)
to a record high of 316 million euros. Tangible assets
accounted for 311 million euros (excluding internallyused self-produced machinery in the amount of 105 million euros) and intangible assets for 5 million euros.
Land and structural extensions accounted for 39.7 percent of the total investment amount mentioned above.
23.9 percent was invested in technical equipment
and machinery and 34.9 percent in oﬃce equipment.
59.1 percent of our investments were in Germany. Construction investments, most of which were made atour headquarters in Ditzingen, accounted for around44.6 percent of this amount and represented the continuation of construction projects already started inprevious years.
28.2 percent of our investments were made in the restof Europe. The Americas accounted for 6.1 percent ofinvestments and Asia-Pacific for 6.7 percent.
The investment ratio of fixed assets to sales revenues
was 5.9 percent (previous year: 5.2 percent). Investments in tangible and intangible assets of 316 million
euros in this fiscal year were above the level of depreciation and amortization, which totaled 242 million euros(previous year: 207 million euros).

10 0 YEAR S OF TRUMPF

The training of young skilled workers, engineers, business administrators and IT specialists is very important
to us. In the year under review, 550 young people completed a training course or co-op work-study program,
resulting in a training ratio of 3.5 percent for the company (previous year: 3.3 percent).

of sales revenues remains at a very high level of 8.9 percent.

Outside Germany, the number of employees rose to 9,228.

14,490 14,325 14,767

16,554

18,352

396

18/19
19/20

Number of employees:

20/21

21/22

22/23

+ 10.9 %New employees worldwide
The number of employees working for TRUMPF worldwide increased significantly in the past fiscal year. New
positions were created in the growth areas of EUV
and Electronics in particular. As of June 30, 2023, we
employed 18,352 people (previous year: 16,554).

Group were working on the products and ideas of tomorrow.
2,623
2,206

2,201

2,294

18/19

19/20

20/21

2,853

377

382

19/20

20/21

21/22

Number of employees in R+D:

21/22

22/23

+ 8.8 %

476

448

22/23

Research and development
costs trend:

Outside Germany, the number of employees increased
by 13.4 percent to 9,228 (previous year: 8,137).

GROUP MANAGEMENT REPORTThe number of employees working on new products
for TRUMPF rose by 8.8 percent to 2,853 (previous year:
2,623). By conducting intensive technology scouting,
TRUMPF wishes to evaluate trends in the technology
areas relevant to the Group at an early stage and theninitiate appropriate measures. These measures include
building up new skills, launching partnerships withstart-ups, and assessing non-organic growth options
using a strategically oriented pre-M&A process. The
aim is to develop new business opportunities and/or
expand existing business fields.

+ 6.3 % In addition to cooperations with start-ups, these canAt 476 million euros, research and development costs
were significantly higher than the previous year’s figure of 448 million euros. The research and development
ratio decreased to 8.9 percent (previous year: 10.6 percent), but remains at a historically high level.

In Germany, TRUMPF had 9,124 employees as of the balance sheet date (previous year: 8,417) – a rise of 8.4 percent year-on-year.

GROUP MANAGEMENT REPORTAs of the reporting date, 2,853 employees in the TRUMPF

Development costs remain highOur research and development ratio as a percentage

In Germany, TRUMPF employed 9,124 people.

Employees in research and development

Research andDevelopment
Research and development
in million euros

Employees worldwide

18/19

141

also be acquired as suppliers for TRUMPF or venture
capital projects can emerge. In the area of minority
investments, we continue to supplement internal developments. For example, in July 2022, TRUMPF Venture
II GmbH invested in the “digital nose”, a Norwegianstart-up that develops compact gas sensors based on
MEMS technology. This allows another element of
human-machine interaction to be digitalized. This wasfollowed in October 2022 by an investment in a Spanish start-up developing chips for extremely powerfulrandom number generators for highly secure encryption, which are used in particular for quantum computing encryption processes using TRUMPF lasers. Also in
October 2022, a minority stake was acquired in a German start-up that makes spare parts easily identifiable
via photos and artificial intelligence in the TRUMPF Service app. An investment in a spin-oﬀ from the Technical
University of Munich, which has developed a medical
application that uses optoacoustic imaging to achieve
unprecedented resolution, followed in December 2022.
Finally, TRUMPF completed its investment in a German

142start-up for simulation-based development of quantum systems in May 2023.
In the past fiscal year, TRUMPF spun oﬀ its sus.raw GmbHstart-up, which recycles sustainable secondary raw
materials directly from TRUMPF customers into metal
production.
TRUMPF has been running its own start-up program“Internehmertum” since 2017. As part of this program,innovative ideas are developed into scalable businessmodels and independent companies established. In thepast fiscal year, preparations were made for the spinoﬀ of a start-up on appreciation culture in companies
as an HR tech tool.

Opportunities
and Risks
Risk management
As a globally active high-tech company, TRUMPF is exposed
to a variety of risks, which are handled by an integrated risk
management system. The central risk management function
regularly identifies and evaluates risks to the TRUMPF Group
as part of the risk analysis and defines strategies for dealing
with these risks. Cooperation between divisions with specific risk analyses, business continuity management (BCM)
and central risk management is intended to ensure the integrated process that creates risk transparency at all levels.
The results are discussed and processed with the responsible management teams in the various countries. In addition,
the Managing Board is informed about the risk situation on
an annual basis and separately as required.
New technologies and other innovations guarantee sustainable growth. Conversely, they are associated with market launch risks and product development risks. We takeconcrete measures to counteract these potential technology and quality risks. One of the strengths of the TRUMPF
Group is the safeguarding of elementary technology even
within its own supply chain (production network). At thesame time, interruptions in internal production can result ina high risk for the value stream. The connections and dependencies within the internal production network must therefore be protected. The risks of interruption should be further reduced through consistent implementation of BCM
for critical internal supplies. The risk perception with regard
to IT risks and information security risks remains high. Even
with a view to the supply situation, which is easing overall, there are still isolated high risks relating to the availability of materials. By contrast, geopolitical uncertainties
in the global economy in particular are leading to a highrisk perception with regard to trade wars, sanctions, and

ANNUAL REPORT 22|23

permits. Conflicts between countries may lead to supply
chain disruptions or the loss of capital or markets. For relevant product lines, this risk is taken into account to secure
the value stream.
The risk management and business continuity management
teams continuously monitor the situation. Scenarios relating to business interruptions to infrastructure (particularly
in production), personnel, IT and supplies are consideredby BCM as standard.
The Managing Board and the heads of the Group’s business divisions and central corporate departments are given
monthly updates on the results of operations, net assets,
and financial position.
The order intake, an important key figure, is reported on adaily basis. The key financial figures and analyses of thesefigures by the controlling department provide the basis onwhich the Managing Board can identify and evaluate potential risks and decide on appropriate countermeasures.
Our corporate planning process includes an analysis of alternative scenarios for possible trends within the TRUMPF
Group and their potential risks. An interest and currency
committee, which meets monthly, manages and controls
cash flow, currency and interest rate risks at Group level.
In addition, market and competition analyses enhance risk
transparency.
To manage the eﬀects of the coronavirus pandemic, the parent company’s central crisis team and the local crisis teams
at the subsidiaries worked closely together until March
2023. With the oﬃcial end of the pandemic and the sharply
reduced risk as a result, the coronavirus crisis team ceased
its work in March.

Market opportunities and risks
The negative economic effects of the Russian war of
aggression against Ukraine, alongside high inflation
rates and correspondingly tighter monetary policies
on the part of central banks are likely to continue tohave an impact in 2024. The IMF therefore expects
growth of 3.0 percent in 2024, a similarly moderate
rate as in 2023.
Thanks to our global presence, we nevertheless see
good opportunities to benefit from the growth ofindividual markets in the global economy. At the sametime, the global uncertainties mentioned above willlead to risks for our business. We are prepared for thisthrough targeted measures, particularly in purchasing
and production, and through prepared measures tocompensate for global economic risks. Overall, evenin uncertain times the opportunities clearly outweigh
the risks for us.

GROUP MANAGEMENT REPORT

10 0 YEAR S OF TRUMPF

143

Opportunities and risks from the end-to-end
digitalization of customer processes
TRUMPF oﬀers its customers a comprehensive productportfolio for digitally connected production. Its modular solutions enable both vertical and horizontal networking of production processes right through to Smart
Factory solutions, i.e. end-to-end digital connectivity inproduction. When introducing digitally networked processes, we provide our customers with comprehensive
advice and oﬀer tailored software solutions.

We assume that there will be a sustained increase indemand for these systems over the next few years.

In the context of digitalization, potential risks arise inparticular due to increasing dependencies on IT systems and the associated losses in the event of failures.
The risks are considered and taken into account duringrisk management.

Many industries such as medical and dental technology,
the automotive industry, aerospace and tool and moldmaking use TruPrint machines. TRUMPF itself also uses
TruPrint machines to produce series parts for its own
machines and components. TRUMPF oﬀers both of therelevant processes for industrial metal 3D printing: laser
metal fusion and laser metal deposition.

Opportunities and risks from the end-to-end
digitalization of business processes
In light of the upcoming migration to the new SAP
release (SAP S/4 HANA ), business processes are being
harmonized and standardized and a business process
management organization (BPMO) is being rolled out.
The eﬀorts are intended to enable a successful migration to SAP S/4HANA and will be subsequently used forprocess innovations.
TRUMPF is applying a multifunctional perspective andpursuing an integrated end-to-end (E2E) approach toprocess observation and optimization. The focus is on
documenting and training process standards and variants as well as standardizing master and transaction data.

Isolated risks relating to a lack of systematic process
digitalization are also recorded through risk management and measures are implemented.
Opportunities from continued growthin demand for EUV lithography
The opportunities created by the growing demand for
EUV lithography were confirmed in the past fiscal year
and continue to exist.
Microchip manufacturers are significantly expanding
their production with EUV lithography equipment inorder to meet the growing global demand for semiconductor microchips. In addition to expanding absolute capacities, they are also extending their global
footprint beyond the focus countries of Taiwan, theUS, and Korea.
High-performance laser amplifiers from TRUMPF are usedin the production of microchips with EUV lithography.
They are used to generate a luminous plasma that delivers
extreme ultraviolet (EUV) radiation to expose the wafers.

GROUP MANAGEMENT REPORT

Opportunities in the additive
manufacturing market
The market for additive manufacturing processes is
growing steadily. Our fundamental conviction that
additive manufacturing is a pioneering process that
TRUMPF can use to occupy a growth field with potential is becoming more firmly established.

Opportunities from our sales financing solutions
TRUMPF has been oﬀering its customers investment
financing since 2001, and since 2014 has also been doing
so with TRUMPF Financial Services GmbH as a full-service bank. This gives customers in around 30 countries
access to suitable lending and leasing oﬀers. In addition
to financing TRUMPF products, we can also finance raw
materials for processing on TRUMPF machines as partof a purchase financing arrangement. TRUMPF Bank
also oﬀers covered financial loans for export financing
in many markets.

Financial opportunities and risks
The TRUMPF Group regularly safeguards its liquidity
through medium to long-term measures. Our liquidity
reserves are still at a high level. Cash and cash equivalents are mainly invested in the money market on ashort-term basis. When investing our liquidity reserves,
we ensure that the risk is diversified by spreading theinvestments across several financial institutions andinstruments. We only consider banks with a good credit
rating.
The syndicated credit line of 500 million euros successfully concluded in 2020 is due to expire in 2027. In thecase of the sustainability component (ESG component)
agreed last year, consisting of the core components of
employee satisfaction, occupational safety, and climate
protection, two out of three sustainability target values have been achieved. Accordingly, the margin has
remained unchanged.
In total, there were unutilized credit lines of 479 million euros as of the balance sheet date.

144

ANNUAL REPORT 22|23

Our liquidity reporting system enables us to check theliquidity of all our subsidiaries on a daily basis.

Strategic and operational
opportunities and risks

Exchange rate and interest rate risks represent additional financial risks for us.

Innovations
In the past fiscal year, we successfully invested in innovative technologies, which opened up new growth opportunities. The introduction of innovative new products
enabled us to strengthen our market position.

As the eurozone represents our main sales market witha 46.3 percent share of sales revenues, and as we arepartly able to oﬀset foreign currency payments thanks
to our international production network and global
purchasing, we consider our exchange rate risk to belimited.
At TRUMPF, derivative financial instruments are notused for speculative purposes, but solely to hedge
underlying transactions. The risk of fluctuations in themarket prices of forward exchange transactions is oﬀset by the opposite trend in the market value of theunderlying transactions. Hedging takes place within theGroup, i.e. with the companies of the TRUMPF Group,
to cover foreign currency risks from posted, pending,and anticipated underlying transactions. TRUMPF also
enters into external hedging transactions with banks inline with the forward exchange transactions concluded
internally, and taking into account net exposures.
We systematically hedge net exposures in US dollars,
British pounds, Japanese yen, Chinese renminbi, Koreanwon, Polish złoty, and Czech koruna using standardized currency hedging instruments such as forward
exchange transactions. Other currencies are hedged
on a project-related basis.
In the eurozone, we concentrate our liquidity on a daily
basis with the aid of a cash pool system that ensurestransnational liquidity balancing. We have a similarsystem in use at our subsidiaries in China. Multilateral
netting of receivables and liabilities increases transparency and facilitates the handling of the Group’s internal cash flows.
Internal audits are intended to create additionaltransparency regarding the financial situation of our
subsidiaries.

Our innovation strategy is based on internal and external innovation approaches, and we see research anddevelopment as a key driver of our business success.
Targeted investment in research and development
and a strong culture of innovation form the basis forour innovative products. Our innovation management
unit continuously searches for future technologies andtakes steps to integrate them into our technology landscape. Identifying technology trends helps us to deploy
open innovation approaches in a targeted manner. This
enables us to strengthen our competitive position by
integrating external expertise and partnerships. Close
collaboration with universities, non-university research
institutions and start-ups is another important pillar for
successfully driving innovation.
A rapidly changing technology environment poses risks
to business continuity and the protection of intellectual
property. For this reason, we actively address the opportunities and risks associated with innovation. Concretemeasures ensure that we can continue to operate successfully in the market in the future.
Intellectual property
We safeguard our investments in research and development by ensuring that our development, product management, and patent departments work hand in hand.
The aim of our patent work is to build and manage apatent portfolio that is aligned with our business strategy and gives TRUMPF advantages in terms of freedomof action, exclusivity, and the exploitation of patents. To
achieve this, our IP experts provide support as we moveinto new technologies and secure our intellectual property by proactively generating, defending, and enforcing
patents and design protection rights. Our focus here ison our core markets.
Acquisitions
To achieve our strategic goals, we also carry out targeted corporate acquisitions to complement our organic
growth. The focus here is on the acquisition of technological know-how and new, sustainable business models. To obtain the greatest possible certainty about the
future development potential of an acquisition project,a large number of experts and decision-makers from theGroup’s business divisions and central departments is
involved in the individual projects.

GROUP MANAGEMENT REPORT

10 0 YEAR S OF TRUMPF

Procurement
We regularly review the purchasing volume for optimization potential and organize cross-location calls fortenders centrally. We keep risks low through comprehensive monitoring, which has again been significantly
refined in the light of recent years. The careful selection and continuous evaluation of our strategic suppliers, also with a view to the likelihood of failure as well
as a stringent supplier approval process give us the necessary transparency at all times with regard to possible
risks. The close exchange of information between our
technical experts provides increasing transparency on
the risks of failure and availability of individual components. Continuous monitoring of delivery quality andreliability enables us to derive suitable quality assurance and supplier development measures.
The provision of our basic supplies by third parties
was severely challenged in the past fiscal year by supply bottlenecks, partly due to Russia’s war of aggression against Ukraine, which resulted in longer delivery
times for individual product families. Active demandand escalation management limited the supply bottlenecks. The availability of natural gas was also ensured
at all times.
Based on the measures taken, we do not expect any
significant supply bottlenecks to occur in the following fiscal year and expect the overall situation to normalize further.
Production
We are continuously developing our production processes as the digitalization of the entire order-tocash process also aﬀects large parts of production. To
achieve this, we are continuing to drive forward theconsistent standardization of processes, systems anddata. Our lean production philosophy, known as SYNCHRO, is a key prerequisite for this.
The combination of risk management and BCM meansthat risks, particularly in production, are systematically
identified, assessed and measures derived. In addition,
emergency concepts are developed for critical areas andscenarios. This is designed to safeguard business operations even in the event of scenarios that could lead toa business interruption.
The TRUMPF production network secures a fundamental part of value creation in the TRUMPF Group. The
failure of internal production locations therefore represents a risk for the TRUMPF Group. This risk is specifically hedged by the BCM activities. There are also
challenges with regard to the general labor market situation, including filling vacant positions in production.

GROUP MANAGEMENT REPORT

145

In addition, potential property and fire damage, business interruption, and public and product liability risks
are insured through an international insurance program
and local coverage. We regularly evaluate and audit our
production sites with our insurance broker.
Cyber security
IT risks are one of the key areas on which we focus. We
permanently monitor our central IT systems and adapt
our cyber security roadmap annually and as needed tothe threat situation and legal framework conditions.
A consequence of increasing digitalization is that thefocus is also shifting to the security of the software usedin TRUMPF products. Central governance for secure
software development, central security specifications,security response and a secure development infrastructure is implemented through expert support for thedevelopment teams and specialized training to ensurethat security requirements are taken into account earlyin the development process.
Thanks to the newly introduced worldwide regular phishing simulation and the switch to mandatorye-learning on cyber security for the entire TRUMPF
Group, all employees are trained to act in a security-conscious manner.
To externally validate the above measures to protect
our data and our customers’ data, we are aiming for
ISO 27001 certification in the next fiscal year.
Cyber security risks that could lead to a severe businessinterruption are picked up by BCM and contingency
plans are reviewed with the divisions and with IT.
Employees
The employee turnover rate in the Group remained
unchanged at 6.0 percent in the past fiscal year. However, in Germany, the turnover rate increased significantly to 4.3 percent (previous year: 3.4 percent). The
increased turnover rate since the pandemic is an economy-wide phenomenon. There has been a huge increasein people’s willingness to quit and change jobs, andthe labor market has now developed into an employee
market.
Due to the shortage of skilled workers and an attractive labor market, filling certain positions, especially intechnical professions, remains challenging. At the sametime, retaining employees for the long term is becoming increasingly important for companies. For this reason, we are increasingly focusing on employee retention activities and keeping measures for securing thenext generation of employees at a high level.

ANNUAL REPORT 22|23

146

The opportunities for TRUMPF in what has been dubbed
the “Great Resignation” continue to lie in taking advantage of the upbeat mood of employees from other companies who are willing to change jobs, and in using ourstrong employer brand to win them over and retain
them in the long term.
With a Group-wide occupational safety target, we haveset ourselves the goal of continuously reducing thenumber of accidents worldwide. Our goal is to reduce
the frequency rate to best-in-class level. To achievethis, we are implementing our occupational health andsafety policy and local TRUMPF safety standards. We
aim to continuously improve the level of occupational
health and safety through standardized processes andinstruments and by monitoring the results throughGroup-wide audits.
Compliance and data protection
The Managing Board expects all employees to comply with the law in their business dealings. To ensure
this, TRUMPF is continuously developing its compliancemanagement system. Individual needs for improvement
have been identified and concrete measures derived
and implemented. Compliance training for managers
has been rolled out at additional locations and internationalized. The clear focus in further developing
the compliance management system this fiscal year
was on implementing the requirements of the Supply
Chain Due Diligence Act (Lk SG). The project team incorporated the requirements of the Act into processes,
thereby ensuring that the stipulations are implemented
appropriately.
The protection of personal data is also important to
the Managing Board. To ensure compliance with thelegal requirements of the EU General Data Protection
Regulation, TRUMPF has established a data protection
management system that corresponds to the compliance management system in terms of its systematics
and structure and is also being continuously developed.
In the last fiscal year, the introduction of a digital tool
for mapping the main data protection processes wasa focal point. The procedure directory and the documentation of data subject inquiries and data breaches
were integrated into the tool. Additional processes will
follow. The audit program was also further developed.
The overriding aim of both management systems is
to promote a corporate culture in which people talk
openly about compliance and data protection, know
the rules, and adhere to them as a matter of course.

Assessment of the company’srisk situation
No risks that could substantially endanger the Group’s
status as a going concern have been identified. Risk
management at TRUMPF is designed to enable risks to
be identified promptly in order to initiate adequate
measures and ensure the continuity of business operations. The focus is on TRUMPF -specific risk categories
such as production and development as well as financial risks and risks influenced by the environment.
Business interruption risks continue to be specificallyconsidered by the BCM system implemented in the scenario analysis. This results in a far-reaching approachthat creates transparency about the risk situation.

Outlook
Machinery and plant engineering sector
anticipates decline in orders and production
Following the positive signals from global economic
development in early 2023, the German MechanicalEngineering Industry Association ( VDMA) is forecasting a fragile upturn. Incoming orders in the mechanical engineering sector have been falling for the majority of member companies since the second quarter of2023. The Association is therefore assuming a 2 percent
drop in production for 2023 as a whole. The VDMA is
also assuming a real decline in sales revenues of one
percent for the euro countries, while forecasting modest growth of one percent in global sales revenues forall of 2023.

Most of the laser industry expects
sales revenues to grow86 percent of members of the VDMA Laser Working
Group expect sales revenues to increase in 2023 compared to 2022, with the amount of this increase varying widely, according to member companies. 19 percent stated that sales revenues would increase by up to
5 percent. 53 percent expect a 6 to 15 percent growth
in revenues. 14 percent of member companies anticipate a decline in revenues of 15 to 20 percent. Thosecompanies expecting sales revenues to grow see the
US in particular as a growth driver. China, on the other
hand, is currently viewed rather critically.

GROUP MANAGEMENT REPORT

10 0 YEAR S OF TRUMPF

147

Outlook for the company

This report contains forward-looking statements thatare based on current assessments of future developments. As such, they are subject to risks and uncertainties that are beyond our control or precise assessment.
This may result in the actual results diﬀering from thestatements made in this report.

TRUMPF expects sales revenues tocontinue to grow in fi scal year 2023/24
Due to the continuing uncertainty of the current economic situation, we expect the order intake to flatline atits current level in the first half of the coming fiscal year.
In the second half we expect orders to pick up again.
Overall, we expect low single-digit percentage growthin our order intake compared with the past fiscal year.
In terms of sales revenues, we will continue to benefit
from our high order backlog. We therefore forecast continued growth, albeit at a lower rate than in the robust
past fiscal year. On balance, we expect sales revenues
to grow in the high single-digit percentage range inthe coming fiscal year.
EBIT will also show a clear positive development in thelower double-digit percentage range in the coming fiscal year due to the anticipated continuation of revenue
growth. All in all, we are expecting a slightly higher EBIT
margin than this year. However, we anticipate a slightdecline in value added, mainly due to the expected
increase in the cost of capital.

With regard to our two business divisions, Machine
Tools and Laser Technology, we expect a similar development in order intake in the coming fiscal year. Following the sharp decline in orders for machine tools in
the past fiscal year, the business division is expected to
grow again slightly in the coming fiscal year. However,
we do not expect orders to pick up until the second halfof the fiscal year. From the coming fiscal year 2023/24
we will report the Laser Technology business division
without Electronics, which will be managed as a separate business field in the future. For Laser Technology, excluding the separate Electronics business field,
we expect slight growth in the order intake. For bothbusiness divisions, we expect a single-digit percentage
increase in sales revenues, which is likely to be slightly
higher for Laser Technology, excluding the Electronics
business field, than for Machine Tools.
In the EUV business field, our forecasts for the coming fiscal year are optimistic. In EUV lithography for theimaging of microprocessors, we anticipate a further
substantial increase in the order intake and a slight risein sales revenues in the coming fiscal year. In this highly
innovative manufacturing process, TRUMPF, together
with ZEISS, continues to be the key supplier to our customer ASML .

GROUP MANAGEMENT REPORT

Ditzingen, September 4, 2023

TRUMPF SE + Co. KG
represented by general partner
Leibinger SE, the latter represented
by the Managing Board
Dr. phil. Nicola Leibinger-Kammüller,
President and Chairwoman
Dr. rer. pol. Lars Grünert
Dr.-Ing. Mathias Kammüller
Dipl.-Betriebsw. Oliver Maassen
Dr.-Ing. Stephan Mayer
Dr. rer. nat. Berthold Schmidt
Dr. rer. nat. Hagen Zimer

148

10 0 YEAR S OF TRUMPF

Consolidated
Financial
Statements

149

ANNUAL REPORT 22|23

150

Consolidated
Balance SheetFI XE D A S S ETSIntangible assets

for fiscal year 2022/23
Notes

1

Tangible assets

06/30/2023

06/30/2022

81,565

127,826

1,608,750

Financial assets

150,081

1,840,396

1,433,528
95,001

1,656,355

C UR R E N T A S S ETSInventories (after oﬀsetting against down payments received)
Inventories

2

Down payments received

Receivables

Trade receivables

Cash and cash equivalents, securities

PR E PA I D E XPENS ES
D E FE R R E D TA X A S S ETS

1,437,218–386,086

1,051,132
3

Other receivables

Other assets

5

6
7–457,847

797,499

Sales revenues

Cost of goods sold1,089,859

844,809

1,109,471

855,521285,733

414,659

648,717

10,712

803,159

3,095,053

2,870,838

44,65833,9385,019,070

4,586,103

38,963

24,972Notes

06/30/2023

06/30/2022

E Q UI T Y

82,700,399

2,387,106

SP E C I AL I TEMS

9

5,780

6,382

10

243,154

281,013908,565

863,843447,677

420,367

279,932

372,049

Other accruals

LI AB I LI T I E S

Trade payables

1112

Financial liabilities

410,338

Liabilities to partners
Other liabilities

D E FE R R E D INCOME

665,411

143,695

1,281,642
13

122,684

5,019,070

5,364,513

Sales costs

16–686,556

General administrative costs

18–281,396

Gross profit on sales

Research and development costs
Other operating income
Other operating costs

Earnings before taxes

Taxes on income

Earnings after taxes/Consolidated net income

17
19
20
21

22

Allocation to reserves according to partnership agreement
Allocation to partners’ accounts within liabilities
Allocation to other revenue reserves

Gains/losses attributable to minority interests

Consolidated net income attributable to parent company

For informational purposes:

582,830

319,149
115,884

1,227,449
101,323

4,586,103

CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S

142022/23–3,352,520

ACC R UALS

Accruals for pensions and similar obligations

Notes

15

Financial and investment result

19,612

4

1,255,346

in k€Taxes of partners
EQUITY AND LIABILITIES in k€

151

Consolidated Profit
and Loss Statement

as of June 30, 2023
ASSETS in k€

10 0 YEAR S OF TRUMPF

CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S

2,011,993–476,315

326,925

22

4,222,768–2,555,577
1,667,191–547,822–448,007–236,772
266,593–277,150–227,850

608,605

409,502–8,896–146,805–63,831–99,358

461,800

310,144–58,392–46,335–114,289–36,943

235,278

218,439–121,294–118,324–47,04882021/22–6,793–1,420–7,007

ANNUAL REPORT 22|23152

10 0 YEAR S OF TRUMPF

153

Consolidated
Statement of
Changes in Equity
for fiscal year 2022/23
Equity of the parent company
Fixed capitalin k€

06/30/2021

Transfer

Allocation to partners’ accounts within liabilities
Foreign currency translation
Other changes

Consolidated net income

Revenue reserves

Equitydifference
from foreign
currencytranslation
attributable
to minority
interests

162,684

1,667,221

1,829,905–

60,705

1,990,610

19,614–876–––1,420–1,420–––1,420

–

–

–

195

195

–
–
–
–

–
–

46,335

Allocation to/withdrawal from reserves–

165,000

06/30/2023

Minority
interests before
equitydifference
from foreign
currencytranslation andannual result

100,000–

Consolidated net income

Total

Total

–

Other changes

Equitydifference
from foreign
currencytranslation

Other revenue
reserves

Transfer

Foreign currency translation

Consolidated
net income
attributableto parent
company

Reserves
according topartnershipagreement

209,019

Allocation to partners’ accounts within liabilities

Minority interests

Capital shares

100,000

06/30/2022

Equity of the parent company

–
–
–
–

100,000––

38,363

1,704,359–––47,048–––

58,392432,411–419

161,337

1,819,067––

84,698

1,913,378––47,048

165,000–

419

219,7292,251,478

CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S–––

218,439–

76,611––

218,439

137,316–––53,439–

76,611

2,015,864–1,311–1,311–2,731––13,417

17,973

440

–

5,696

–

5,696

–

–5,696235,278–455,007

93,47025,254–6,516–436–43,846

235,278

6,516–

12,713

303,137–43,846–

Total

2,369,133

–
–

Total

–13,417–100,487––

Gains/losses
attributable
to minority
interests

195––165,000

6,516

Group
equity

–

–

–

–

–

–

–

–

7,007

–43,436

6,793

461,800–

6,793

15,619CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S

–26

–

410

–

–

2,680,226–

310,1442,387,106–102,700

–

–

7,007

77,051–13,222–2,213410–2,790440––2,213

–

419

–

–

–

–2,7904,580

20,173––2,3712,700,399

ANNUAL REPORT 22|23154

10 0 YEAR S OF TRUMPF

Consolidated Cash
Flow Statement
for fiscal year 2022/23
in k€

2022/232021/22

CO N S O LI DATED NET INCOME

461,800

310,144+/– Elimination of financial and investment result

17,753+/– Elimination of income tax expenses=

Consolidated net income before financial and investment result and income taxes

146,804

626,357

63,831
99,358473,333–/+ Income taxes paid/received–160,625–89,461+/– Elimination of depreciation and amortization/write-ups of fixed assets

241,491

217,037–/+ Increase/decrease in inventories and trade receivables–537,852–311,737+/– Increase/decrease in accruals

115,119

70,898+/– Elimination of other non-cash expenses/income–41,215–34,202–/+ Elimination of gain/loss from the disposal of fixed assets+/– Increase/decrease in trade payables–9,526

37,710+/– Change in other assets and liabilities

34,210–29

71,07834,006=

Cash inflow from operating activities

305,669

430,923–

Cash paid for investments in tangible assets–426,448–269,334–

Cash paid for investments in intangible assets–4,892–4,179=Subtotal cash outflow from investing activities (operating)–389,340–218,649–

Cash paid for investments in financial assets–110,062–70,185+/– Cash received/paid from the acquisition of consolidated companies–2,931–27,320+

Cash received from financial investments as part of short-term cash management

127,000+

Dividends received
Interest received

10,524=

Subtotal cash inflow/cash outflow from investing activities (others)

=

+
+

+

–

Cash received from the disposal of tangible assets

41,631

Cash received from the disposal of intangible assets

369

Cash received from the disposal of financial assets

58,280218

16,292–––70,282

1,570

1,074

84,381–142,801

Cash outflow from investing activities–304,959–361,450–

Cash paid to partners–208,982–251,441+

Cash received from the issuance of loans and other financial liabilities

101,605

30,561–

Interest paid

–9,201+––=

Cash paid for financial investments as part of short-term cash management

54,646

Dividends paid to other partners
Cash repayments of loans and other financial liabilities
Cash outflow from financing activities

CH AN G E I N C A S H IN H A ND+/– Change in cash in hand due to exchange rate diﬀerences+/– Change in cash in hand due to consolidation activities+=

Cash in hand at the start of the fiscal year

Cash in hand at the end of the fiscal year

–236

7,620

–191

–12,505–51,538–129,319–279,866–128,609–210,393–30,330
4,143

802,691–7,25735,986
3,326

973,772

647,895

802,691

CO MPO S I T IO N O F C A S H IN H AND+

Cash and cash equivalents

648,628803,084=

Cash in hand at the end of the fiscal year

647,895

802,691–

Liabilities to banks payable on demand

–733

–393

CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S

Notes to theConsolidated
Financial
Statements

155

ANNUAL REPORT 22|23

156

Notes to theConsolidated
Financial
Statements
for fiscal year 2022/23

Principles and methods

Accounting and valuation

TRUMPF SE + Co. KG is listed in the commercial registerof Stuttgart District Court under company registration
number HRA 201460. The company has its head oﬃce
at Johann-Maus-Strasse 2, 71254 Ditzingen, Germany.

The financial statements of the companies included in the
consolidated financial statements are prepared, as previously, in accordance with uniform accounting and valuation principles. If adjustments to Group-wide accounting and valuation principles are necessary due to national
regulations, this is done in a “Handelsbilanz II” (balance
sheet for consolidation purposes).

The consolidated financial statements for the fiscal year
2022/23 have been prepared in accordance with Article
264a of the German Commercial Code (HGB), applying theprovisions of Articles 290 et seq. HGB. The consolidated
financial statements have been prepared in accordancewith the accounting and valuation regulations of the HGB
applicable to large corporations, taking into account the
separate regulations for partnerships and the supplementary provisions of the parent company partnershipagreement, and with partial appropriation of profits. In
accordance with Article 298 (1) HGB in conjunction with
Article 244 HGB, the consolidated financial statements
have been prepared in euros. The consolidated profit andloss statement was prepared according to the cost-ofsales method.
Various items in the consolidated balance sheet and theconsolidated profit and loss statement have been combined for greater clarity and are disclosed separately inthe notes to the consolidated financial statements.

Intangible and tangible assets are generally stated atacquisition or manufacturing cost, net of regular amortization or depreciation. Intangible and tangible assets
are amortized and depreciated using the straight-line
method. If lower valuations were required, extraordinary
depreciations were recognized to the fair value.
For regular amortization and depreciation, the following
useful lives are assumed in the main: 3 to 5 years for software, 6 to 8 years for acquired customer bases, 5 to 8 years
for technological know-how, 10 years for trademark
rights, 25 to 50 years for buildings, 12 years for technicalplant and machines, and 3 to 20 years for other equipment and factory and oﬃce equipment. Acquired goodwill is amortized over 5 years on the basis of past internal
experience, especially with regard to product life cycles.

N OT E S TO T H E CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S

10 0 YEAR S OF TRUMPF

Internally used machines are used for testing or training
purposes or as showroom and demonstration machines.
These are reported under fixed assets and depreciatedover 5 years. Machines leased to customers are also
reported under fixed assets and depreciated over thecontract term.
Payments on account are recognized at nominal value.
In the case of financial assets, participations and sharesin non-consolidated aﬃliated companies are carried at
the lower of acquisition cost or fair value, and loans arecarried at nominal value. For the accounting and valuation of shares in associated companies, we refer to the
explanations on shareholdings and scope of consolidation. The long-term investments included under financial assets are carried at acquisition cost.
Inventories of raw materials, consumables and supplies, and merchandise are carried at the lower of acquisition cost or market value. Work in progress and finishedgoods are valued at manufacturing cost. In addition to
direct material and production costs, this also includes anappropriate allocation of material and production overheads and the fixed asset depreciation expenses attributable to the manufacturing process. Manufacturing costs
do not include interest on borrowed capital, and generaladministrative costs are not capitalized.
Inventories are written down to fair value if, on the balance sheet date, this value is lower than the acquisitionor manufacturing cost due to lower replacement costs orsales market prices, excess inventories, or unsaleability.
Down payments received are recognized at nominal
value and openly deducted from inventories.
Receivables and other assets are stated at the lower of
their nominal value or fair value on the balance sheet
date. Appropriate write-downs are made for receivables
whose collectability involves recognizable risks; uncollectable receivables are written oﬀ. The general credit risk
is covered by an appropriate lump-sum bad debt allowance for net receivables for which no specific bad debt
allowance has been created.
Securities in current assets are stated at the lower ofacquisition cost or fair value on the balance sheet date.

157

Cash and cash equivalents (cash, bank balances andchecks) are carried at nominal value.
Prepaid expenses comprise payments made before thebalance sheet date provided that they represent expenses
for a specific period after that date. Debt discounts arecapitalized and amortized over the term of the corresponding loans.
To calculate deferred taxes due to temporary or quasipermanent diﬀerences between the commercial values ofassets, liabilities, prepaid expenses and deferred income
and their tax values, or due to tax loss carry forwards, theamounts of the resulting tax burden or relief are valued at
the expected company-specific tax rates at the time thediﬀerences are reversed and are not discounted. Deferred
tax assets and liabilities are disclosed net. In the event ofa surplus of deferred tax assets from valuation diﬀerenceson the balance sheet date, no use is made of the option
for recognition under Article 274 (1) sentence 2 HGB.
Fixed capital is recognized at nominal value.
Special items include investment grants and subsidies
for fixed assets. These are released in installments overthe useful life of the subsidized assets.
Accruals for pensions and similar obligations are measured on the basis of actuarial calculations using the projected unit credit method, taking into account the 2018 G
mortality tables of Prof. Dr. Heubeck. In accordance withthe regulation in Article 253 (1) HGB, the actuarial calculation of pension accruals takes into account expected
future salary and pension increases and expected fluctuation. Accruals for pensions and similar obligations are
discounted at a flat rate using the average market interest rate of the past 10 years, as published by Deutsche
Bundesbank, and based on an assumed remaining termof 15 years.
In the fiscal year 2022/23, the calculation of pension obligations was based on the following parameters:– Interest rate: 1.80 percent p.a.
(previous year: 1.76 percent p.a.)– Wage and salary increases: 3.00 percent p.a.
(previous year: 3.00 percent p.a.)– Future pension increases: 2.00 percent p.a.
(previous year: 1.75 percent p.a.)

N OT E S TO T H E CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S

ANNUAL REPORT 22|23

158

Accruals for pensions and similar obligations are oﬀset
against assets that are used exclusively to meet these obligations and that cannot be accessed by any other creditors. The fair value of these oﬀset assets was derived fromthe market values.

domestic and foreign subsidiaries of the TRUMPF Group.
Consolidation takes place at the level of TRUMPF SE + Co.
KG as the parent company. The list of shareholdings canbe found in the separate annex after the notes to theconsolidated financial statements.

Other accruals take into account all uncertain liabilities
and contingent losses on pending transactions. They
are stated at the necessary settlement value according
to sound business judgement. Accruals with a remaining term of more than one year have been discounted
in accordance with Article 253 (2) sentence 1 HGB. Economic hedging relationships between derivative financial
instruments and underlying transactions are accounted
for by forming valuation units. Accordingly, in the caseof eﬀective hedging relationships, a provision for onerous contracts is not formed for financial instruments withnegative market values.

In addition to the parent company, the scope of consolidation includes 29 (previous year: 28) German and 57(previous year: 56) foreign subsidiaries. In fiscal year
2022/23, two companies have been included in the consolidated financial statements for the first time in accordance with the principles of full consolidation. The initial consolidations did not have a significant influence on
the results of operations and net assets of the Group sothat comparability with the previous year is not limited.

The accruals for obligations relating to phased retirement
programs existing on the balance sheet date have been
calculated according to actuarial principles at an interest
rate of 0.76 percent p.a. (previous year: 0.34 percent p.a.).
They have been oﬀset against assets that are used exclusively to meet obligations under the phased retirement
program and that cannot be accessed by any other creditors. The fair value was derived from the market values.
The accruals for obligations relating to anniversary obligations existing on the balance sheet date have been calculated according to actuarial principles at an interest
rate of 1.57 percent p.a. (previous year: 1.34 percent p.a.).
Accruals for obligations relating to the “TRUMPF Familien- und Weiterbildungskonto” have been oﬀset against
assets that are used exclusively to meet these obligations
and that cannot be accessed by any other creditors. The
fair value was derived from the market values.
Liabilities are stated at their settlement value.
Deferred income includes receipts prior to the balance
sheet date if they constitute income for a specific period
after that date.

Shareholdings and scope of consolidation
The Leibinger family and the Berthold Leibinger StiftungGmbH directly and indirectly hold all shares in TRUMPF
SE + Co. KG, Ditzingen. TRUMPF SE + Co. KG manages all

37 (previous year: 35) subsidiaries and 13 (previous year:5) associated companies are not included in the consolidated financial statements for reasons of immateriality. Their combined net income and sales revenues
only account for less than 1 percent of consolidated net
income and sales revenues, respectively. Consequently,
they are considered irrelevant for the fair presentationof the results of operations, net assets and financial position of the Group.

Consolidation principles
Capital consolidation is carried out using the revaluation method in accordance with Article 301 (1) HGB. In
the course of this, the equity of the subsidiaries is recognized at the amount corresponding to the fair valueof the assets and liabilities to be included in the consolidated financial statements.
Any residual debit diﬀerence remaining after oﬀsetting
is reported as goodwill on the assets side and amortizedover its expected useful life. As at the balance sheet date,
residual debit diﬀerences amounted to k€ 46,047. Amortization is on a straight-line basis over 5 years, based on
the historical useful life of the acquired goodwill.
If the consolidation measures pursuant to Articles 300 to
305 HGB result in diﬀerences between the commercial
values of assets, liabilities, as well as their tax base thatare expected to reverse in later fiscal years, the future tax
relief or tax charges are recognized as deferred tax assets
or liabilities in the consolidated balance sheet. Deferredtaxes are calculated on the basis of the individual company tax rates applicable at the time when the diﬀerences

N OT E S TO T H E CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S

10 0 YEAR S OF TRUMPF

are expected to reverse. At Group level, the tax rates ofthe subsidiaries concerned are used. These tax rates are
between 9 percent and 34 percent. Deferred tax assets
and liabilities are disclosed net. Deferred taxes from consolidation measures are combined with the deferred tax
liabilities resulting from the application of Article 274 HGB
to form a single item in the consolidated balance sheet.
Intercompany profits and losses resulting from intercompany deliveries of goods and services are eliminatedthrough the profit and loss statement.
Receivables and liabilities between consolidated companies are oﬀset against each other. Currency-related diﬀerences arising from this have been recognized in the consolidated profit and loss statement in accordance withGerman Accounting Standard (DRS) 25.

159

Notes to the consolidated balance sheet
The numbers stated refer to the corresponding item inthe consolidated balance sheet or the consolidated profit
and loss statement.
1. Fixed assets
The development of fixed assets is shown separately inthe statement of changes in fixed assets. Diﬀerences
resulting from currency translation have been taken into
account in the acquisition or manufacturing costs and in
the accumulated depreciation. Extraordinary depreciation amounted to k€ 19,363 in the fiscal year.
2. Inventories (after oﬀ setting
against down payments received)

Revenues from intercompany sales and intercompany
income are oﬀset against the corresponding expenses.

in k€Foreign currency translation

Work in progress

In the individual financial statements, transactions in foreign currencies are generally recorded at the historicalexchange rate at the time of initial recognition. As at thebalance sheet date, foreign currency receivables and liabilities are translated at the average spot exchange rate.
In the case of a remaining term of more than one year,
the realization principle (Article 298 (1) in conjunction
with Article 252 (1) no. 4 clause 2 HGB) and the historical cost principle (Article 298 (1) in conjunction with Article 253 (1) sentence 1 HGB) are observed. Bank balances
in foreign currencies are translated at the average spot
exchange rate on the balance sheet date.

06/30/2023

06/30/2022

Raw materials, consumables
and supplies

505,040

419,675

Finished goods and merchandise

535,202478,841

Payments on account353,623
43,353328,917
27,913Inventories

1,437,218

1,255,346

Inventories(after offsetting against
down payments received)

1,051,132

797,499

Down payments received

In the consolidated financial statements, the balance
sheet items of subsidiaries not reporting in euros aretranslated in accordance with Article 308a HGB using
the modified current-rate method. The asset and liability items of annual financial statements prepared in foreign currencies are translated into euros at the average
spot exchange rate on the balance sheet date – with the
exception of equity, which is translated at the historicalrate. Items in the profit and loss statements of subsidiaries not reporting in euros are translated at the averagemonthly rate. In accordance with Article 308a HGB, the differences resulting from currency conversion are reported
within group equity after reserves under the item “Equity
diﬀerence from foreign currency translation”.

N OT E S TO T H E CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S–386,086–457,847

ANNUAL REPORT 22|23160

3. Receivables

06/30/2023
Total

in k€

1,089,859

Trade receivablesof which from third parties

1,085,719

of which from affiliated companies
that are not fully consolidated

Up to
1 year

1,045,233
1,041,093

in k€Remaining term

More than
1 year

44,62644,62606/30/2022
Total

844,809841,776

Up to
1 year806,245803,212More than
1 year

38,56438,564

4,140

4,140

–

3,033

3,033

–

19,612

19,612–

10,712

10,712–of which from affiliated companies
that are not fully consolidated

19,45019,450–10,55010,550–of which from associated companies

162

162

–

162

162

–

1,109,471

1,064,845

44,626855,521816,957

38,564

Other receivables

Total receivables

4. Other assets

Cash and cash equivalents include short-term financial
investments with a maturity of up to three months.
06/30/2023

06/30/2022

Medium-term financial
investments

105,787

232,101

Remaining other assets

179,946

182,558

Other assetsof which with a remaining
term of more than one year

285,733

414,659

46,245

113,777

Remaining other assets mainly consist of tax receivables resulting from income tax and value added tax.
All financial investments with a maturity of more than
three months are reported under medium-term financial
investments. Medium-term financial investments amountto k€ 105,787 of which k€ 44,000 have a remaining termof more than one year.

6. Prepaid expenses
Prepaid expenses include vacation allowances, insurance
premiums, rent, dues, maintenance contracts, and otherprepayments caused by the divergent fiscal year.
7. Deferred tax assets
Deferred tax assets and liabilities are disclosed net. The
deferred tax assets are the result of consolidation measures. The net deferred tax liabilities result from divergent
values in the commercial and the tax financial statement
and are mainly attributable to intangible assets, tangible assets and accruals.
in k€Deferred tax assets

Deferred tax liabilities
Surplus06/30/2023

64,762–25,799
38,96306/30/2022

56,431–31,459
24,972

5. Cash and cash equivalents, securities
in k€
Securities in current assets
Cash, bank balances and checks(cash and cash equivalents)

161

10. Accruals for pensions and similar obligations

8. Equity
Remaining termin k€

10 0 YEAR S OF TRUMPF

06/30/2023

06/30/2022

89

75

648,628803,084

648,717803,159

Fixed capital

Revenue reserves
Consolidated net income
attributable to parent company
Equity diﬀerence from foreign
currency translation
Minority interests

06/30/2023

06/30/2022

100,000

100,000in k€

2,251,478

1,913,378

235,278

218,439

Accruals for pensions andsimilar obligations (settlement
value prior to oﬀsetting)

93,470137,316

Contractual Trust Agreement(oﬀset plan assets)

2,700,399

2,387,106

20,173

17,973Fixed capital corresponds to the compulsory contributionsof the limited partners of TRUMPF SE + Co. KG. The compulsory contributions of the limited partners are identicalto the risk capital.
The subscribed capital of the general partner amounts tok€ 4,000. The revenue reserves comprise profits and losses
attributable to domestic and foreign subsidiaries as wellas amounts from the oﬀsetting of other consolidation
measures.
A pro rata appropriation of profits was already made in
the past fiscal year 2022/23 in accordance with the provisions of the partnership agreement. A decision on further
appropriation of profits will be made in the following fiscal
year. For the fiscal year 2022/23, therefore, as in the previous year, consolidated net income attributable to the parent company is shown.
Minority interests mainly relate to the participation in
TRUMPF Hüttinger Sp. z o.o. The result allocable to minority
interests comprises profit shares of k€ 6,793 (previous year:k€ 7,007) and loss shares of k€ 0 (previous year: k€ 0). The
overall development of consolidated equity is shown separately in the consolidated statement of changes in equity.
9. Special items
The special item relates to investment grants andallowances.

06/30/2022

488,681458,973–245,527–177,960

243,154

281,013

The fair value of the oﬀset plan assets corresponds tothe amortized acquisition cost. The valuation of the Contractual Trust Agreement as of June 30, 2023 resulted inincome of k€ 3,751. This has been oﬀset against the interest expense on pension accruals, which are oﬀset according to Article 246 (2) HGB, of k€ 2,739. The historical acquisition costs of the oﬀset plan assets were k€ 243,331. The
diﬀerence between the measurement of the obligation
at the average market interest rate for ten years and theaverage market interest rate for seven years amounted tok€ 18,408 as of June 30, 2023 (previous year: k€ 34,923).
11. Other accruals
The fair value of the oﬀset plan assets of the accruals
relating to phased retirement programs amounts tok€ 12,661 (previous year: k€ 14,267) and corresponds toamortized acquisition cost. The settlement value of theoﬀset accruals relating to phased retirement programs
amounts to k€ 13,605 (previous year: k€ 12,971) on thebalance sheet date. The historical acquisition costs of theoﬀset plan assets were k€ 13,348.
The fair value of the oﬀset assets of the accruals for obligations relating to the “ TRUMPF Familien- und Weiterbildungskonto” amounts to k€ 35,893 (previous year:k€ 30,721) and corresponds to the amortized acquisition cost. The settlement value of the oﬀset debts alsoamounts to k€ 35,893 (previous year: k€ 30,721). The historical acquisition costs of the oﬀset plan assets werek€ 32,450.
The netting of expenses and income was waived in eachcase for reasons of materiality.
in k€
Tax accruals

Other accruals

N OT E S TO T H E CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S

06/30/2023

N OT E S TO T H E CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S

06/30/2023

57,006

608,405

665,41106/30/2022

69,589513,241

582,830

ANNUAL REPORT 22|23

162

12. Liabilitiesof which to third partiesof which to affiliated companies
that are not fully consolidated
Financial liabilitiesof which to banksof which other financial liabilities
Liabilities to partners
Other liabilitiesof which in relation to taxesof which in relation tosocial security

Remaining term

2022/232021/22

Total

5,364,513

4,222,768

Europe (excluding Germany)

2,217,775

1,771,470

Asia-Pacific

1,178,968

1,020,555

Americas06/30/2023
Total

Up to 1 year

More than
1 yearOf whichmore than
5 years

06/30/2022
Total

Up to 1 year

More than
1 year

447,677

447,505172

1

420,367

420,3625444,879444,707172

1417,764

417,759

5

2,798

2,798

–

–

2,603

2,603

–

410,338

209,334

201,004

100,871

319,149

79,424

239,725

66,26546,58919,6762,268

67,75037,25930,491

279,932

270,4219,511

372,049

259,020

113,02973,00773,007–53,40853,408–344,073

143,695

8,996

162,745

140,862

181,328

98,603–

251,399

2,833

36

115,884

–

–

7,539

8,996

–

42,165

113,589

7,539

209,234

2,295–

of which to affiliated companies
that are not fully consolidated

13,367

13,367

–

–

5,850

5,850

–

of which remaining other liabilities

48,32545,4922,833

36

49,087

46,792

2,295

1,281,642

1,068,122

213,520

100,908

1,227,449

872,395

355,054

Total liabilities

in k€Germany
Remaining term

Trade payables

Trade payables are subject to customary retention of title.
Financial liabilities include all interest-bearing liabilities
to third parties for financing purposes. Financial liabilities to banks include a promissory note amounting tok€ 205,000 (previous year: k€ 205,000). Other financial
liabilities consist of loans and savings deposits.
Of the liabilities to banks, k€ 4,062 (previous year:k€ 5,346) were secured by mortgages.
13. Deferred income
This mainly relates to the deferral of income from maintenance services, training, and leasing contracts, which
represent income for a certain period after the balance
sheet date.

163

Sales revenues by region

Other accruals mainly relate to obligations in the personnel and social area, warranty obligations, outstanding purchase invoices and other contingent liabilities.

in k€

10 0 YEAR S OF TRUMPF

Notes to the consolidated
profit and loss statement
14. Sales revenues
Sales revenues by business division
2022/232021/22Group

5,364,513

4,222,768

Laser Technology business division

2,059,383

1,608,690

in k€
Machine Tools business division
EUV business field
OthersConsolidation eﬀects

3,038,253
971,317
488,015–1,192,455

2,288,553
794,601
461,776–930,852

N OT E S TO T H E CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S

Others778,633

1,167,683
21,454

588,841
820,413

21,48915 percent (previous year: 14 percent) of sales revenues
were generated in Germany and 85 percent (previous
year: 86 percent) outside Germany.
15. Cost of goods soldCost of goods sold (k€ 3,352,520; previous year:k€ 2,555,577) includes all expenses attributable to products or services sold in the fiscal year and the remaining
costs of the Production and Service operating divisions
that were unable to be assigned to particular products orservices. Also included in the cost of goods sold is incomeof k€ 4,000 (previous year: k€ 0) from the relief amountunder the Electricity Price Brake Act (StromPBG).
16. Sales costs
Sales costs amounting to k€ 686,556 (previous year:k€ 547,822) include all personnel expenses allocated to
the Sales division, other operating costs such as commissions, travel and marketing costs, depreciation, and material costs for our showrooms. Freight and packaging costs
are also included under this item to the extent that they
can be allocated to transport from the production plant
to the customer.

19. Other operating income
Other operating income mainly includes exchange rate
gains, income from the reversal of accruals, income fromthe reduction of bad debt allowances, and income fromasset disposals. A positive extraordinary item from theinsurance settlement for last year’s plane crash at theFarmington site in the US of k€ 28,491 (previous year:k€ 47,033) as well as public grants and subsidies ofk€ 6,476 (previous year: k€ 3,252) is included. Income
from foreign currency translation amounts to k€ 226,068(previous year: k€ 156,411). Other operating income
includes income relating to other periods amounting tok€ 47,618 (previous year: k€ 25,264) This is mainly income
from the reversal of accruals.
20. Other operating costs
Other operating costs mainly include exchange rate
losses, amortization of goodwill, bad debt expenses,
additions to individual and lump-sum bad debt allowances, and operating costs that cannot be clearly allocated to any other functional area. Expenses from foreign currency translation amount to k€ 204,252 (previous
year: k€ 142,588). Expenses for provisions for onerous
contracts from financial instruments are included in theamount of k€ 129 (previous year: k€ 2,217). Other operating costs include expenses relating to other periods
amounting to k€ 4,370 (previous year: k€ 310). Other
operating costs of k€ 6,197 (previous year: k€ 27,339)
are attributable to the plane crash at the Farmingtonsite in the US.

17. Research and development costs
Research and development costs (k€ 476,315; previous
year: k€ 448,007) include all amounts spent on basic
research or new developments and not related to current production. These include in particular personnel,
non-personnel, and material costs as well as depreciation.
18. General administrative costs
General administrative costs in the fiscal year amountto k€ 281,396 (previous year: k€ 236,772) and include inparticular personnel expenses, depreciation and amortization, and other non-personnel costs relating to Management, IT, Human Resources, Legal, Corporate Communications, Infrastructure and Finance.

N OT E S TO T H E CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S

ANNUAL REPORT 22|23164

21. Financial and investment result

10 0 YEAR S OF TRUMPF

165

26. Derivative fi nancial instruments
and valuation units
2022/232021/22

686

1,510

Income from participations

10,426

1,074

Other interest and similar income

12,579

8,107

–9

–47

in k€
Income from securities and loansof which from affiliated companies that are not fully consolidated

489

of which from affiliated companies that are not fully consolidated–of which from affiliated companies that are not fully consolidated

461

Write-downs on financial assets and securities

131

64

–13,367–7,572

Interest and similar expenses–19,211–66,903–13,367of which from affiliated companies that are not fully consolidated–76

of which from compounding of accruals

Foreign exchange-relatedtransactions

NominalamountFair
value

693,385–10,771

1

Expenses from loss transfersof which from affiliated companies that are not fully consolidated

in k€–7,572–1,711–4,511–32,960–8,896–63,831

Foreign exchange-related transactions are forward
exchange transactions in the currency pairs EUR /JPY,
EUR/KRW, EUR/USD, EUR/CZK , EUR/PLN, and EUR/GBP.
Appropriate accruals have been made for hedging transactions that were not included in valuation units and havea negative fair value on the balance sheet date. The valuation is carried out using generally accepted valuation
methods such as present value models.
The following valuation units have been formed:

22. Taxes on income
TRUMPF SE + Co. KG and its domestic and foreign subsidiaries are subject to eﬀective and deferred trade andcorporate income taxes. The eﬀective tax expenses inthe year under review amount to k€ 160,547 (previous
year: k€ 116,910).

Notes to the cash flow statement

Income from deferred taxes amounts to k€ 13,743 in thefiscal year (previous year: k€ 17,552). These result from
diﬀerences in the carrying amounts in the commercial
and tax balance sheet and from consolidation measures.

Short-term investments can be converted into cash withina maximum of three months. Liabilities to banks payable
on demand relate to bank overdrafts.

In accordance with Article 264c (3) HGB, the partners’
taxes on income have been presented for information
purposes after the consolidated net income for the year.
They are not included in the calculation of deferred taxes.

Other disclosures

23. Personnel costs
The expense items in the profit and loss statement include
personnel costs in the following amounts:in k€

24. Composition of cash in hand
Cash in hand includes cash and cash equivalents(k€ 648,628), and liabilities to banks payable on demand(k€ 733).

25. Contingent liabilities

Liabilities from bills of exchange

Liabilities from warranty agreements
Liabilities from guarantees

2022/232021/22

Wages and salaries

1,261,597

1,104,536

Social security andother welfare costs

224,179

196,040

1,524,916

1,333,925

in k€Expenditure on pension schemes

39,140of which from affiliated companies
that are not fully consolidated

Underlying transaction/hedging
transaction

Risk/type ofvaluation unit

IncludedamountHedgedamountHedgedrisk

Hedge
scope 1)

Hedging timeframe

Third-party receivables/
Forward exchange transactions

Foreign exchange
risk/Macro hedgek€ 100,580

kJPY 12,540,000

–

47 %

06/17/2026

Third-party receivables/
Forward exchange transactions

Foreign exchange
risk/Macro hedgek€ 50,200

kKRW 68,563,580

–

35 %

06/10/2024

Third-party receivables/
Liabilities to suppliers/
Forward exchange transactions

Foreign exchange
risk/Macro hedgek€ 428,936

kUSD 480,300k€ –10,557

83 %

06/17/2026

Liabilities to suppliers/
Foreign exchange spread options

Foreign exchange
risk/Macro hedgek€ 12,936

kGBP 11,631

–

100 %

06/17/2026

Liabilities to suppliers/
Forward exchange transactions

Foreign exchange
risk/Macro hedgek€ 12,000

kCZK 280,027

k€ –2024 %06/19/2024

Liabilities to suppliers/
Forward exchange transactions

Foreign exchange
risk/Macro hedgek€ 88,733

kPLN 456,857k€ –19464 %

06/17/2026

06/30/2023

6,545
6,740

109,709
4,968
122,994

33,349With regard to the sound financial position of the companies for which guarantees and warranty agreements
have been assumed, the risk of claims arising from contingent liabilities is considered to be low.

N OT E S TO T H E CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S¹ Hedge scope for the fiscal year 2023/24

Regarding the valuation units existing on the balance
sheet date in accordance with Article 254 HGB, the following applies:
Economic hedging relationships are reflected on thebalance sheet through the formation of valuation units.
Due to the consistency of the main value-determining
components, the opposing changes in value between
the underlying and hedging transactions oﬀset eachother completely across the entire hedging period. Regular monitoring is carried out as part of the existing risk
management system to measure the eﬀectiveness or

N OT E S TO T H E CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S

ANNUAL REPORT 22|23

166

ineﬀectiveness of hedging measures. This is determinedusing the critical term match method, which involves
checking that the main value-determining components
such as currency pair, maturity period, and nominal
amounts are consistent. Furthermore, the cash flows fromthe underlying transactions are retrospectively comparedwith the payments from the currency hedges. No material
ineﬀectiveness was identified in the year under review.
For hedges of underlying transactions recognized on thebalance sheet, the gross hedge presentation method
is generally applied, i.e. both the underlying transactions and the hedging transactions are measured as of
the reporting date. Opposing and oﬀsetting changes inthe value of underlying and hedging transactions arerecorded in the profit and loss statement on a gross basis.
For hedges of underlying transactions not recognizedon the balance sheet, derivatives are not recognized as
pending transactions (net hedge presentation method).

27. Oﬀ -balance sheet transactions
In the year under review, there were oﬀ-balance sheettransactions in the form of operating lease agreements.
These mainly relate to motor vehicles and oﬃce equipment and were concluded for cost eﬃciency reasons.
Ongoing leasing installments in the fiscal year 2022/23
total k€ 11,980.

31. Managing Board
TRUMPF SE + Co. KG is managed by its general partner,
which is represented by the persons stated below:

28. Other fi nancial obligations

–
–
–
–
–
–
–

06/30/2023

in k€Rent, lease and leasing agreements
as well as other obligations

105,232

Purchase commitments forcapital projects in progress

77,601

Take back obligations

10,408193,241

Any necessary adjustments to the hedging strategy
are made promptly. An eﬀective hedging relationship can therefore be assumed both prospectively andretrospectively.

In addition to the financial commitments listed above,
obligations from master agreements and regular purchase commitments exist in the course of ongoing business to a customary extent.

In order to hedge currency risks from highly probabletransactions, forward exchange transactions that correspond to the expected net cash flow in terms of maturity period, nominal amount, and foreign currency (macro
hedges) are concluded. The highly probable cash inflows
and outflows from planned purchasing and sales transactions are derived from the corporate planning process.
A review of past planning has shown that the recognizedtransactions are highly probable. The forward exchangetransactions were concluded for the period from fiscal
year 2023/24 to fiscal year 2025/26.

29. Auditor’s fee
The total fee charged by the Group’s auditor PricewaterhouseCoopers GmbH for the fiscal year can be broken down as follows:

Freestanding derivatives without a valuation unit exist forthe currency pair EUR/CNY. These are forward exchangetransactions with a nominal value of kCNY 419,086. The
countervalue amounts to k€ 55,351. A provision for onerous contracts in the amount of the negative market value
has been formed and recognized at a carrying amount ofk€ –30 under the balance sheet item other accruals. The
market value was determined using a recognized valuation method (present value method).
For freestanding derivatives, especially for the currency
pair EUR /USD, a provision for onerous contracts in theamount of the negative market value has been formed
and recognized at a carrying amount of k€ –92 under thebalance sheet item other accruals. The market value wasdetermined using a recognized valuation method (present value method).

10 0 YEAR S OF TRUMPF

2022/232021/22

Audit of financial statements

954

863

Tax consulting services

118

162

in k€
Other attestation services
Other services

37

2,021

3,130

11

4,143

5,179

30. Employees
The average headcount during the year was:

Production

2022/232021/22

6,166

5,205

Service

3,575

Sales

2,889

Research and Development
Administration
Trainees

2,788

3,328
2,596

2,577

1,855

1,667

17,823

15,894550

521

N OT E S TO T H E CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S––

Dr. phil. Nicola Leibinger-Kammüller,
President and Chairwoman
Dr.-Ing. E. h. Peter Leibinger,
Vice Chairman, until June 30, 2023
Dr. rer. pol. Lars Grünert
Dr.-Ing. Mathias Kammüller
Dipl.-Betriebsw. Oliver Maassen
Dr.-Ing. Stephan Mayer
Dr. rer. nat. Berthold Schmidt, from July 1, 2023
Dr.-Ing. Christian Schmitz, until June 30, 2023
Dr. rer. nat. Hagen Zimer, from July 1, 2023

The remuneration of the Managing Board of Berthold
Leibinger SE for the performance of their duties in theparent company and the subsidiaries amounted tok€ 16,879 (previous year: k€ 15,395).
Pension commitments of k€ 15,613 (previous year:k€ 14,110) were granted and accrued to former members of management. In the fiscal year 2022/23, former
managing directors their surviving dependents received
emoluments amounting to k€ 974 (previous year: k€ 781).
32. Exemption in accordance with
the German Commercial CodeFor the following corporations, use has been made of the
exemption under Article 264 (3) HGB: TRUMPF Campus
1 GmbH, TRUMPF Werkzeugmaschinen Deutschland Vertrieb + Service Beteiligungs-GmbH, TRUMPF Werkzeugmaschinen Teningen GmbH, TRUMPF International Beteiligungs-GmbH, TRUMPF Laser- und Systemtechnik GmbH,TRUMPF Hüttinger Verwaltung GmbH, TRUMPF Laser
GmbH, Celtia Verwaltungs-GmbH, TRUMPF Lasertechnik GmbH, TRUMPF Finance GmbH, Berthold Leibinger
Immobilien GmbH, TRUMPF Kapitalbeteiligungen GmbH,TRUMPF Sachsen GmbH, TRUMPF Scientific Lasers Verwaltungsgesellschaft mbH, INGENERIC GmbH, TRUMPF
Lasersystems for Semiconductor Manufacturing GmbH,TRUMPF New Business GmbH, Amphos GmbH, TRUMPF
Tracking Technologies GmbH.

167

33. Consolidated fi nancial statements
TRUMPF SE + Co. KG , Ditzingen, prepares consolidated financial statements for the biggest and smallest
group of companies. The consolidated statements canbe viewed via the German Electronic Federal Gazette(Unternehmensregister).
34. Related party transactions
All transactions with related parties were at arm’s length.
35. Appropriation of earnings
A pro rata appropriation of profits was already madein the past fiscal year 2022/23 in accordance with theprovisions of the partnership agreement. A decision on
further appropriation of profits will be made in the following fiscal year.
36. Supplementary report
No events of particular significance for the consolidated
financial statements have occurred since the end of the
fiscal year.
Ditzingen, September 4, 2023

TRUMPF SE + Co. KG
represented by its general partner,
Berthold Leibinger SE, the latter
represented by the Managing Board
Dr. phil. Nicola Leibinger-Kammüller,
President and Chairwoman
Dr. rer. pol. Lars Grünert
Dr.-Ing. Mathias Kammüller
Dipl.-Betriebsw. Oliver Maassen
Dr.-Ing. Stephan Mayer
Dr. rer. nat. Berthold Schmidt
Dr. rer. nat. Hagen Zimer

For the following commercial partnerships within themeaning of Article 264a (1) HGB, use has been made ofthe exemption from the requirement to prepare annual
financial statements pursuant to Article 264b HGB in
accordance with the provisions applicable to corporations: TRUMPF SE + Co. KG, TRUMPF Werkzeugmaschinen
SE + Co. KG, TRUMPF Hüttinger GmbH + Co. KG, TRUMPF
Immobilien GmbH + Co. KG, TRUMPF Werkzeugmaschinen
Deutschland Vertrieb + Service GmbH + Co. KG, TRUMPF
Scientific Lasers GmbH + Co. KG.

N OT E S TO T H E CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S

ANNUAL REPORT 22|23168

10 0 YEAR S OF TRUMPF

169

DevelopmentofConsolidated
Fixed Assets
for fiscal year 2022/23
Acquisition and manufacturing costs

in k€

07/01/2022

Changes
attributable tocurrencytranslation
effects

Accumulated depreciation and amortization

Changes inthe scopeof consolidation

Additions

Disposals

Reclassifications

–

4,570

–3,913

838

–

225

–48

–746

06/30/2023

07/01/2022

Changes
attributable tocurrencytranslation
effects

239,527–195,268

187–

Book value

Changes inthe scopeof consolidation

Additions

Disposals

Reclassifications

Write-ups

06/30/2023

06/30/2023

06/30/2022

6,808

–

–19,328

3,592

1

–

–204,195

35,33250,175–––––50,621

–

3,592

–

1

–

–

–

–405,958

187

81,565

127,826

1,358

509

–

–520,134

920,118

791,087

25,477–568

67–434,064

224,199

179,574

I N TA N G I B L E A S S ETS

Acquired concessions, industrial
and similar rights, licenses

Goodwill

Payments on account245,443–7,411

255,446–8,254–

501,645–15,665–

1,266,167–19,935–

584,590–6,265

1,824

756

–

617

5,412

–

–

247,80992

487,523–373,819

14,889–7,920139,804

1,440,252–475,080

5,241––52,162–28,9159,856

658,263–405,016

4,275

–278

–58,021–3,961–178,551

8,081––31,293––––201,763

46,04676,895756

TAN G I B LE AS S ETSLand and buildings

Technical equipment and machines

Other equipment, factory and oﬃce equipment
Payments on account andassets under construction

602,672

207,744–12,181

–683

–

–

2,661,173–39,064

1,824

43,562–15–4,300–62,136

131,676
97,173

135,463–64,423–15,655

13,560–163,312

426,448–116,913

–92

1,144

–2,126–1,25027,100–16,800

18

–

–

–

–

–2

–5,550–49,424–

671,304

163,557–343,581–3,9688,643

56

2,933,376–1,227,645

18,21538,265–3,465

9

–

–

–278

–75,346–5,407–190,936

43,802

5,315

75,952

58

–

–1

–

–

–366,424–4,00467–1,324,626––3,456

304,880

159,553

1,608,750

259,091

203,776

1,433,528

F I N A N C I AL A S S ETS

Shares in aﬃliated companies

Shares in associated companies

12,691

Participations

6,036

Loans to aﬃliated companies
Long-term investments
Other loans
TOTAL

9,233
1,093

26,80599,4203,262,238–4–8
7–54,731––––3,726

10,674126

71,017110,061

541,921––38–

23,323–5,087–

1,067–25,373–170,298–––

18,283
1,111

72,456

154,505

3,575,404

N OT E S TO T H E CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S

–95
–

–50

–809
–

–4,419–1,605,883

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–13

–

–9

–

–

–

8

–

–

–

33,108

–278

4

–

–

–

–

–

–

–

–

–

–241,566

79,544

–

67

–9

–

–

N OT E S TO T H E CO N S O L I DAT E D F I N A N C I A L S TAT E M E N T S––9534,80912,596

1,025

5,986

–

18,283

–831

280

–42
–

–4,424–1,735,008

40,09723,22872,456150,081

1,840,396

9,233

284

26,80595,001

1,656,355

ANNUAL REPORT 22|23

170

List of
Shareholdings

10 0 YEAR S OF TRUMPF

Company

171

Share of ownership
TRUMPF SE + Co. KG
in percent
DirectTRUMPF Machines S.A.R.L., Haguenau, France

100

Auroma Technologies Co. Dba Access Laser Company, Everett, Washington, USA

100

TRUMPF Máquinas Ind. E. Com. Ltda., São Paulo, Brazil

100

Stellar Industries Corp., Wilmington, Delaware, USA

as of June 30, 2023

100

TRUMPF maskin ab, Alingsås, Sweden

100

TRUMPF Maquinaria S.A., Madrid, Spain

100

TPT Máquinas-Ferramentas e Laser, Unipessoal, Lda, Porto Salvo, Portugal
Company

DirectFully consolidated subsidiaries

100

TRUMPF Maschinen Austria GmbH, Pasching, Austria

Share of ownership
TRUMPF SE + Co. KG
in percent

100

100

TRUMPF Maschinen Austria GmbH & Co. KG, Pasching, Austria 1

TRUMPF S.r.l. (previously: TRUMPF Homberger S.r.l.), Buccinasco (Milan), Italy

Indirect

100

TRUMPF Macchine Italia S.r.l., Lonigo (Vicenza), Italy

100

TRUMPF Additive Manufacturing Italia S.r.l., Piovene Rocchelle (Vicenza), Italy

100

TRUMPF Pte Ltd., Singapore, Singapore

Leibinger SE, Ditzingen

100

TRUMPF Korea Co., Ltd., Seoul, South Korea

TRUMPF Werkzeugmaschinen SE + Co. KG, Ditzingen

100

TRUMPF (India) Private Limited, Pune, India

TRUMPF Campus 1 GmbH (previously: TRUMPF Werkzeugmaschinen Beteiligungs-GmbH), Ditzingen

100
100

TRUMPF Malaysia Sdn Bhd, Kuala Lumpur, Malaysia

100

Indirect

100
100

100

TRUMPF Metamation Private Limited, Siruseri, India

100

TRUMPF Strojírenská výroba CZ s.r.o., Liberec, Czech Republic

90

TRUMPF Shared Services sp. z o.o., Warsaw, Poland

TRUMPF Lasersystems for Semiconductor Manufacturing GmbH, Ditzingen

100

TRUMPF Polska Sp. z o.o., Warsaw, Poland

TRUMPF Laser GmbH, Schramberg

100

TRUMPF Hungary Kft, Gödöllő, Hungary

100

TRUMPF Laser + Machinery S.R.L., Bucharest, Romania

100

TRUMPF Werkzeugmaschinen Deutschland Vertrieb + Service GmbH + Co. KG, Ditzingen 1

TRUMPF International Beteiligungs-GmbH, Ditzingen

TRUMPF Werkzeugmaschinen Deutschland Vertrieb + Service Beteiligungs-GmbH, Ditzingen

100

TRUMPF Laser- und Systemtechnik GmbH, Ditzingen
TRUMPF Hüttinger Verwaltung GmbH, Freiburg i. Br.
TRUMPF Hüttinger GmbH + Co. KG, Freiburg i. Br. 1

TRUMPF Sachsen GmbH, Neukirch

Celtia Verwaltungs-GmbH, Reutlingen

TRUMPF Financial Services GmbH, Ditzingen

100

TRUMPF Finance GmbH, Ditzingen

TRUMPF Lasertechnik GmbH, Ditzingen

TRUMPF VSZ Grundstücksverwaltungsgesellschaft mbH + Co. KG, Mainz 2
Berthold Leibinger Immobilien GmbH, Ditzingen
TRUMPF Immobilien GmbH + Co. KG, Ditzingen 1

Hüttinger Grundstücks-Vermietungsgesellschaft mbH + Co. Objekt Freiburg KG, Pullach i. Isartal 2

100

TRUMPF Liberec, spol. s.r.o., Liberec, Czech Republic

90

TRUMPF Polska Sp. z o.o. Sp. k., Warsaw, Poland 1

100

TRUMPF Huettinger Sp. z o.o., Zielonka, Poland

100

TRUMPF Bulgaria Ltd., Sofia, Bulgaria

100

TRUMPF Sheet Metal Products (Taicang) Co., Ltd., Taicang, China

100

TRUMPF (China) Co., Ltd., Taicang, China

94

100

TRUMPF HUETTINGER Electronics (Taicang) Co. Ltd.
(previously: HUETTINGER Electronics (Shanghai) Co., Ltd.), Taicang, China

100

TRUMPF Technology (Shanghai) Co., Ltd., Shanghai, China

100

JFY Mexico S. de R.L. de C.V. (previously: TRUMPF Mexico Services S. de R.L. de C.V.), Apodaca, Mexico

100

TRUMPF Canada Inc., Mississauga, Ontario, Canada

100

TRUMPF Photonic Components B.V., Eindhoven, Netherlands

TRUMPF Scientific Lasers GmbH + Co. KG, Unterföhring 1

100

TRUMPF Slovakia, s.r.o., Košice, Slovakia

100

TRUMPF Nederland B.V., Hengelo, Netherlands

100

TRUMPF OOO, Moscow, Russia

100

PT. TRUMPF Indonesia, Jakarta, Indonesia

Amphos GmbH, Herzogenrath

TRUMPF Photonic Components GmbH, Ulm
TRUMPF New Business GmbH, Ditzingen

TRUMPF Tracking Technologies GmbH, Ditzingen

100

100
100

TRUMPF VIETNAM COMPANY LIMITED, Ho Chi Minh City, Vietnam

TRUMPF Photonics, Inc., Cranbury, New Jersey, USA

100

Lantek Sheet Metal Solutions, S.L., Miñano Menor/Álava, Spain

TRUMPF Laser plc, Southampton, United Kingdom

100Companies not included in the consolidated financial statements

100

TRUMPF Smart Factory Consulting GmbH (previously: XETICS GmbH, Ditzingen)

100

Findos SC Investor Fund II GmbH & Co. KG, Munich

TRUMPF Finance (Schweiz) AG, Baar, Switzerland
TRUMPF Inc., Farmington, Connecticut, USA

TRUMPF Huettinger Inc., Santa Clara, California, USA
TRUMPF Limited, Luton, United Kingdom

TRUMPF Laser UK Ltd., Southampton, United Kingdom

TRUMPF Laser & Machinery Ireland Ltd., Dublin, Ireland
TRUMPF Corporation, Yokohama, JapanTRUMPF S.A.S., Paris, France

100

90

100

100
100
90

100
100
100
90

100
100
100
100
100
100
100
100
100
100

TRUMPF Ltd., Bangkok, Thailand

100
100

TRUMPF Makina Sanayii A.Ş., Istanbul, Turkey

100

TMT SE, Ditzingen

100

JT Optical Engine Verwaltungs-GmbH, Jena 3

LIST OF SHAREHOLDINGS100

TRUMPF Taiwan Industries Co., Ltd., Gueishan Dist., Taoyuan City, Taiwan
TRUMPF Philippines Inc., Manila, Philippines

TRUMPF Schweiz AG, Grüsch, Switzerland

100

100

90

TRUMPF Mexico S. de R.L. de C.V., Apodaca, Mexico

TRUMPF Werkzeugmaschinen Teningen GmbH, Teningen

100

100

100

INGENERIC GmbH, Baesweiler

100

Jiangsu Jinfangyuan CNC Machine Co., Ltd., Yangzhou Citry Jiangsu Province, China

TRUMPF Kapitalbeteiligungen GmbH, Ditzingen

TRUMPF Scientific Lasers Verwaltungs-GmbH, Unterföhring

100

TRUMPF Praha spol. s.r.o., Prague, Czech Republic

LIST OF SHAREHOLDINGS

100
100

100

100

50

24.995

172

Company

ANNUAL REPORT 22|23

Q.ant GmbH, Stuttgart

Indirect100

One Click Metal GmbH, Tamm

49.9

ZIGPOS GmbH, Dresden

51.3275

ScaleNC GmbH, Stuttgart

100

Optimate GmbH, Stuttgart

100

FETEX Grundstücks-Vermietungsgesellschaft mbH, Freiburg i.Br.

100

TRUMPF Venture II GmbH, Ditzingen
Active Fiber Systems GmbH, Jena

TRUMPF Quantum Beteiligungen-SE, Ditzingen
STOPA Anlagenbau GmbH, Achern

Stopa Storage & Parking Technologies (Changzhou) Co., Ltd., Jintan Changzhou, China
Stopa America Inc., Burlington, Connecticut, USA
SICK INTERNATIONAL GMBH i.L., Emmendingen 3

100
100

80

25.1

25.1

Stolzer Parkhaus Verwaltungs-GmbH i.L., Achern 3

25.1

Seeger Schweißtechnik GmbH i.L., Germersheim 3

sus.raw GmbH, Ditzingen

Toref Technica Co., Ltd., Aichi, Japan

25.1

12.299
12.55
27.5
25

TRUMPF Colombia S.A.S, Bogotá, Colombia

100

TVDO I AG, Vienna, Austria

100

TVDO III AG, Vienna, Austria

100

CT Crystals, LLC, Wilmington, Delaware, USA
TVDO II AG, Vienna, Austria

TVDO IV AG, Vienna, Austria
TVDO V AG, Vienna, Austria

TVDO VI AG, Vienna, Austria

STARMATIK s.r.l., Spresiano, Italy

ACCESS LASER (SHENZHEN) CO.,LTD, Shenzhen, China
SHENZHEN EVERBRITE CD.,LTD, Shenzhen, China

50

100
100
100

Audit Opinions

–

25.1

We have audited the consolidated financial statementsof TRUMPF SE + Co. KG, Ditzingen, and its subsidiaries(the Group), which comprise the consolidated balance
sheet as at 30 June 2023, and the consolidated income
statement, consolidated statement of changes in equity
and consolidated cash flow statement for the financial
year from 1 July 2022 to 30 June 2023, and notes to theconsolidated financial statements, including the presentation of the recognition and measurement policies. In
addition, we have audited the group management reportof TRUMPF SE + Co. KG for the financial year from 1 July
2022 to 30 June 2023.

Pursuant to § [Article] 322 Abs. [paragraph] 3 Satz [sentence] 1 HGB [Handelsgesetzbuch: German Commercial
Code], we declare that our audit has not led to any reservations relating to the legal compliance of the consolidated financial statements and of the group management report.

100

In our opinion, on the basis of the knowledge obtainedin the audit,

Basis for the Audit Opinions

100

–

100
100
100

TRUMPF Engineering Services Italy S.r.l., Orbassano/Turin, Italy

87.5

TRUMPF Laser Israel Limited, Tel Aviv, Israel

100

Bruma Machinehandel B.V., Spankeren, Netherlands
Lantek Polska Sp. z o.o., Katowice, Poland

Lantek Yazılım Ticaret Limited Şirketi, Nilüfer/Bursa, Turkey
Lantek Mexico, S.A. de C.V., México D.F., Mexico

Lantek (Shanghai) Trading Co., Ltd., Shanghai, China

Lantek Systems Limited, Malvern/Worcestershire, United Kingdom
Lantek Systemes SARL, Vienne Cedex, France
Lantek Systems, Inc., Mason, Ohio, USA

LANTEK Systemtechnik GmbH, Darmstadt

Lantek System Korea LLC, Sasang-gu/Busan, South Korea
LANTEK AUSTRALIA PTY LTD, Melbourne, Australia
c2go inprocess solutions GmbH i.L., Berlin 3
Amphos Inc, Wilmington, Delaware, USA

To TRUMPF SE + Co. KG, Ditzingen

25.1

25.1

WCF Industriebeteiligungs-GmbH, Ottersweier

Independent
Auditor’s Report

25.1

Sick international Kellereimaschinen GmbH i.L., Emmendingen 3

Stolzer Parkhaus GmbH u. Co. KG i.L., Achern 3173This audit report is issued on the financial statements prepared in German language.

Share of ownership
TRUMPF SE + Co. KG
in percent
Direct10 0 YEAR S OF TRUMPF

100
100
100
100
100
100
100
100
100
100

100

Entities whose general partner is included in the group of consolidated companies
Companies are consolidated as, from an economic standpoint, the opportunities and risks accrue to the parent company
3 In liquidation
1
2

LIST OF SHAREHOLDINGS

the accompanying consolidated financial statementscomply, in all material respects, with the requirementsof German commercial law and the supplementaryprovisions of the Articles of Association and give atrue and fair view of the assets, liabilities and financial position of the Group as at 30 June 2023 and ofits financial performance for the financial year from
1 July 2022 to 30 June 2023 in compliance with German Legally Required Accounting Principles, and

INDEPENDENT AUDITOR’S REPORT

the accompanying group management report as awhole provides an appropriate view of the Group’s
position. In all material respects, this group management report is consistent with the consolidated financial statements, complies with German legal requirements and appropriately presents the opportunities
and risks of future development.

We conducted our audit of the consolidated financial
statements and of the group management report inaccordance with § 317 HGB in compliance with German
Generally Accepted Standards for Financial Statement
Audits promulgated by the Institut der Wirtschaftsprüfer [Institute of Public Auditors in Germany] (IDW ).
Our responsibilities under those requirements and principles are further described in the “Auditor’s Responsibilities for the Audit of the Consolidated Financial

174Statements and of the Group Management Report“ section of our auditor’s report. We are independent of thegroup entities in accordance with the requirements ofGerman commercial and professional law, and we havefulfilled our other German professional responsibilities
in accordance with these requirements. We believe thatthe audit evidence we have obtained is suﬃcient andappropriate to provide a basis for our audit opinions on
the consolidated financial statements and on the groupmanagement report.

Other Information
The executive directors are responsible for the otherinformation.
The other information comprises the annual report –excluding cross-references to external information – withthe exception of the audited consolidated financial statements, the audited group management report and our
auditor’s report.
Our audit opinions on the consolidated financial statements and on the group management report do notcover the other information, and consequently we do
not express an audit opinion or any other form of assurance conclusion thereon.
In connection with our audit, our responsibility is to readthe other information mentioned above and, in so doing,
to consider whether the other information– is materially inconsistent with the consolidated financial statements, with the group management reportdisclosures audited in terms of content or with ourknowledge obtained in the audit, or– otherwise appears to be materially misstated.

Responsibilities of the Executive Directors
for the Consolidated Financial Statements
and the Group Management Report
The executive directors are responsible for the preparation of the consolidated financial statements that comply, in all material respects, with the requirements of German commercial law, and that the consolidated financial
statements give a true and fair view of the assets, liabilities, financial position and financial performance of
the Group in compliance with German Legally Required
Accounting Principles. In addition, the executive directors
are responsible for such internal control as they, in accordance with German Legally Required Accounting Principles, have determined necessary to enable the preparation of consolidated financial statements that are freefrom material misstatement, whether due to fraud (i.e.,
fraudulent financial reporting and misappropriation ofassets) or error.

ANNUAL REPORT 22|23

In preparing the consolidated financial statements, theexecutive directors are responsible for assessing theGroup’s ability to continue as a going concern. They
also have the responsibility for disclosing, as applicable,
matters related to going concern. In addition, they are
responsible for financial reporting based on the going
concern basis of accounting, provided no actual or legal
circumstances conflict therewith.
Furthermore, the executive directors are responsible forthe preparation of the group management report that,as a whole, provides an appropriate view of the Group’s
position and is, in all material respects, consistent withthe consolidated financial statements, complies with German legal requirements, and appropriately presents theopportunities and risks of future development. In addition, the executive directors are responsible for sucharrangements and measures (systems) as they have considered necessary to enable the preparation of a groupmanagement report that is in accordance with the applicable German legal requirements, and to be able to provide suﬃcient appropriate evidence for the assertions in
the group management report.

Auditor’s Responsibilities for the Audit of
the Consolidated Financial Statements andof the Group Management Report
Our objectives are to obtain reasonable assurance about
whether the consolidated financial statements as a whole
are free from material misstatement, whether due tofraud or error, and whether the group management
report as a whole provides an appropriate view of theGroup’s position and, in all material respects, is consistent with the consolidated financial statements and theknowledge obtained in the audit, complies with the German legal requirements and appropriately presents theopportunities and risks of future development, as well as
to issue an auditor’s report that includes our audit opinions on the consolidated financial statements and on thegroup management report.
Reasonable assurance is a high level of assurance, but is nota guarantee that an audit conducted in accordance with §317 HGB and in compliance with German Generally AcceptedStandards for Financial Statement Audits promulgated by
the Institut der Wirtschaftsprüfer (IDW) will always detect amaterial misstatement. Misstatements can arise from fraud
or error and are considered material if, individually or in theaggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these
consolidated financial statements and this group management report.

INDEPENDENT AUDITOR’S REPORT

10 0 YEAR S OF TRUMPF

175

We exercise professional judgment and maintain professional skepticism throughout the audit. We also:– Identify and assess the risks of material misstatementof the consolidated financial statements and of thegroup management report, whether due to fraud or
error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is
suﬃcient and appropriate to provide a basis for our
audit opinions. The risk of not detecting a material
misstatement resulting from fraud is higher than for
one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls.

–

Obtain suﬃcient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express audit opinions on the consolidated financial statements andon the group management report. We are responsible for the direction, supervision and performanceof the group audit. We remain solely responsible forour audit opinions.

–

Evaluate the consistency of the group management
report with the consolidated financial statements,
its conformity with German law, and the view of theGroup’s position it provides.

–

Obtain an understanding of internal control relevantto the audit of the consolidated financial statements
and of arrangements and measures (systems) relevant to the audit of the group management reportin order to design audit procedures that are appropriate in the circumstances, but not for the purposeof expressing an audit opinion on the eﬀectivenessof these systems.

––

Evaluate the appropriateness of accounting policies
used by the executive directors and the reasonableness of estimates made by the executive directors andrelated disclosures.

Perform audit procedures on the prospective information presented by the executive directors in thegroup management report. On the basis of suﬃcientappropriate audit evidence we evaluate, in particular, the significant assumptions used by the executive
directors as a basis for the prospective information,and evaluate the proper derivation of the prospective information from these assumptions. We do not
express a separate audit opinion on the prospective
information and on the assumptions used as a basis.
There is a substantial unavoidable risk that future
events will diﬀer materially from the prospective
information.

–

Conclude on the appropriateness of the executive
directors’ use of the going concern basis of accounting
and, based on the audit evidence obtained, whether
a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s
ability to continue as a going concern. If we conclude
that a material uncertainty exists, we are required to
draw attention in the auditor’s report to the related
disclosures in the consolidated financial statements
and in the group management report or, if such disclosures are inadequate, to modify our respective
audit opinions. Our conclusions are based on theaudit evidence obtained up to the date of our auditor’s report. However, future events or conditions may
cause the Group to cease to be able to continue as agoing concern.

–

Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated
financial statements present the underlying transactions and events in a manner that the consolidated
financial statements give a true and fair view of theassets, liabilities, financial position and financial performance of the Group in compliance with German
Legally Required Accounting Principles.

INDEPENDENT AUDITOR’S REPORT

We communicate with those charged with governanceregarding, among other matters, the planned scope andtiming of the audit and significant audit findings, including any significant deficiencies in internal control that we
identify during our audit.
Stuttgart, September 4, 2023
PricewaterhouseCoopers GmbH
Wirtschaftsprüfungsgesellschaft
Marcus Nickel
Wirtschaftsprüfer(German Public Auditor)

Kai Mauden
Wirtschaftsprüfer(German Public Auditor)

176

OUR
ANNUAL REPORTS

Imprint

50 YEARS OF
TRUMPFUSA

TruLaser5030 fiber

Machine Tools

PUBLISHED BYREALIZATIONTRUMPF SE + Co. KG

Concept and Design:
Strichpunkt GmbH, Stuttgart/Berlinwww.strichpunkt-design.de

Corporate Communications,Public Policy and Brand

IDEA AND EDITORIAL CONTENT
Dr. Andreas Möller (responsible)
Dr. Alexandra Fies (historical
documentation, text image section)
Dr. Manuel Thomä (text image section)
Rainer Berghausen
Magdalena BlischAnnika Bruckner
Daniela Eberhardt
Dr. Nico Friedrich
Dominik Göring
Marcus Gottuck
Daniela KörberAngelika Kogel
Andre Kolb
Saskia Knauer
Kathrin Müller
Lena SchuhFranziska Sigle

Photographs:
Thomas Abe
Volker Arnold
Iwan Baan
Zooey Braun
Corinne Eichbaum
David Franck
Manfred Jarisch
Ralph Lahrmann
Claus Morgenstern
Stefan Müller
Verena Müller
Ansgar Pudenz
Ina Reinecke
Margherita Spiluttini
Martin Stollberg
TRUMPF Group
Repro:
ctrl-s GmbHwww.ctrl-s.deBusiness divisions and business fields

M AC H I N E T O O L S
F O R F L E X I B L E S H E E T M E TA L M A N U FAC T U R I N G
TRUMPF’s largest area of activity is in machine tools for flexible sheet and pipe machining. Our portfolio encompasses systems for bending, punching, combined punch laser processes, and for laser cutting
and laser welding tasks. We oﬀer our customers custom-fit machines, automation and networking solutions, consulting, financing and a wide range of services so that they can manufacture their products
economically, reliably and to a high quality. With our software solutions, we assist them in all their
A
W
O
R
L
machining tasks, from design to complete production control.
I
T

A

N

N
S

I

T

I

O

N

Business
divisions
Annual Report 2018/19

Annual Report 2019/20

2018/ 20192019/ 2020

Printing:
Raﬀ & Cantz Druck GmbHwww.raﬀ-cantz.de

Laser Technology

L ASERS FOR PRODUC TION TECHNOLOGYCONTACTTRUMPF SE + Co. KG
Johann-Maus-Strasse 271254 Ditzingen+49 7156 303-0
info@trumpf.com

Annual Report 2020/21

2020/ 2021

Cutting, welding, marking, surface machining: wehave exactly the right laser for every industrial application, and the right technology to ensure innovative,
yet cost-eﬃcient production. For work at macro, micro,
Annual Reportnano or femto level – we take an individual
approach
2021
22
to our customers’ needs and are at their side oﬀeringsystem solutions, software tools, application exper2021/
2022 field oﬀers processtise, and advice. Our
Electronics
power supply units for high-tech applications. Our
generators provide electricity for induction heating
and plasma and laser excitation, with precisely theright frequency and power our customers require.

2018 – 2022
TruMark Station 7000

Note

Any reference to the masculine form is made solely forthe sake of readability and includes both masculine andfeminine.

R

D

ID-No. 23150383

176

Extreme UV Light

Imprint

TruLaser5030 fiber

Machine Tools

Additive Manufacturing

HIGH - POWER L A SER SYSTEMSFOR EUV LITHOGR APHY

A D D I T I V E M A N U FAC T U R I N G F O R
I N N O VAT I V E C O M P O N E N T S

TRUMPF is developing and producing a unique CO2 laser
system in close cooperation with ASML, the world’s
largest manufacturer of lithography systems, and ZEISS,
the optics manufacturer. High-power lasers fromTRUMPF play a key role in the production of the latest
generation of microchips: They are used to generate aluminous plasma that delivers extreme ultraviolet (EUV)
radiation to expose the wafers.

Additive manufacturing enables the simple production of complex parts. TruPrint systems from TRUMPF
are used in the aerospace, medical technology, energy
and automotive industries. TRUMPF is proficient in thetwo key metal printing processes: laser metal fusion(LMF) and laser metal deposition (LMD). This meansthat it can oﬀer customers the solution that best suits
their application.

TRUMPF
EUV system

TruPrint
5000

PUBLISHED BYREALIZATIONTRUMPF SE + Co. KG

Concept and Design:
Strichpunkt GmbH, Stuttgart/Berlinwww.strichpunkt-design.de

Corporate Communications,Public Policy and Brand

IDEA AND EDITORIAL CONTENT
Dr. Andreas Möller (responsible)
Dr. Alexandra Fies (historical
documentation, text image section)
Dr. Manuel Thomä (text image section)
Rainer Berghausen
Magdalena BlischAnnika Bruckner
Daniela Eberhardt
Dr. Nico Friedrich
Dominik Göring
Marcus Gottuck
Daniela KörberAngelika Kogel
Andre Kolb
Saskia Knauer
Kathrin Müller
Lena SchuhFranziska Sigle

Photographs:
Thomas Abe
Volker Arnold
Iwan Baan
Zooey Braun
Corinne Eichbaum
David Franck
Manfred Jarisch
Ralph Lahrmann
Claus Morgenstern
Stefan Müller
Verena Müller
Ansgar Pudenz
Ina Reinecke
Margherita Spiluttini
Martin Stollberg
TRUMPF Group
Repro:
ctrl-s GmbHwww.ctrl-s.deBusiness divisions and business fields

M AC H I N E T O O L S
F O R F L E X I B L E S H E E T M E TA L M A N U FAC T U R I N G
TRUMPF’s largest area of activity is in machine tools for flexible sheet and pipe machining. Our portfolio encompasses systems for bending, punching, combined punch laser processes, and for laser cutting
and laser welding tasks. We oﬀer our customers custom-fit machines, automation and networking solutions, consulting, financing and a wide range of services so that they can manufacture their products
economically, reliably and to a high quality. With our software solutions, we assist them in all theirmachining tasks, from design to complete production control.

Business
divisionsPhotonic Components

Printing:
Raﬀ & Cantz Druck GmbHwww.raﬀ-cantz.de

Laser Technology

L ASERS FOR PRODUC TION TECHNOLOGYCONTACTTRUMPF SE + Co. KG
Johann-Maus-Strasse 271254 Ditzingen+49 7156 303-0
info@trumpf.com

TruMark Station 7000

Note

Any reference to the masculine form is made solely forthe sake of readability and includes both masculine andfeminine.

Business
fieldsCutting, welding, marking, surface machining: wehave exactly the right laser for every industrial application, and the right technology to ensure innovative,
yet cost-eﬃcient production. For work at macro, micro,
nano or femto level – we take an individual approachto our customers’ needs and are at their side oﬀeringsystem solutions, software tools, application expertise, and advice. Our Electronics field oﬀers process
power supply units for high-tech applications. Our
generators provide electricity for induction heating
and plasma and laser excitation, with precisely theright frequency and power our customers require.

Financial Services

C O M PA N Y- O W N E D F U L L - S E R V I C E B A N K
FOR PURCHA SE LOANSL ASER DIODES FOR SENSORS,D ATA C O M M U N I C AT I O N A N D
H E AT T R E AT M E N T
Laser diodes from the TRUMPF Photonic Components
business field are used in smartphones, digital datatransmission, and sensors for autonomous driving. Overa billion cell phones worldwide are already equippedwith this laser diode technology. In electromobility,
the technology is used to dry foils in the production ofbatteries.

Single andmulti-mode VCSEL
ID-No. 23150383

Along with their quote for a machine, TRUMPF customers also receive a lease or hire purchase oﬀer. Our
custom-tailored finance solutions are based on financing know-how and expertise in the mechanical engineering industry. The TRUMPF bank is active in nine
European countries. For other core markets such as
the US and China, TRUMPF collaborates with partners.

Finance concepts forstate-of-the-art
production technology

HOW IT ALL BEGAN

THE FUTURE WITH TRUMPF