Company information
KUKA is a global manufacturer of intelligent automation and robotics solutions
Industrials & other manufacturing
Machinery
Engagement time
2009 - 2011
Owned by
Publicly listed company
Revenue (at entry)
€ 1.0 bn
Adj. EBITDA margin (at entry)
-4%
Employee number
5.7 k
Bickel & Company set-up
Client feedback
Bernd Minning
Chairman of the Supervisory Board of KUKA AG
"Dr. Bickel and his team have shown what implementation really means. They start implementing from day one, have a clear idea of what needs to be done strategically within a very short time and translate this into operational measures without losing sight of the overall context."
Challenge
In 2009, KUKA AG was in the middle of the global financial crisis. The severe market downturn had materially impacted the business, with revenues declining by up to 35% and raising significant concerns among capital providers regarding the company’s financial stability and resilience. While KUKA maintained a strong market position and attractive technological capabilities, the business required decisive operational and financial stabilization to restore performance and stakeholder confidence.
Approach
Rapid launch of a comprehensive turnaround program focused on sales, SG&A, procurement, R&D, and manufacturing efficiency in both segments “Systems” and “Robotics” and reorganization of the operating model
Considerable streamlining of organizational structures, processes, and optimization of reporting and controlling activities along the new operating model
Launch of commercial initiatives including strengthened key account management and new product introduction
Establishment of an independent robot manufacturing footprint in Shanghai to better serve high-growth Asian and U.S. markets
Financial stabilization through refinancing and capital measures
Impact
Increase in share price vs. at Bickel & Company entry
share price
Recurring VCP impact
> € 120 m
(target exceeded)
Successful refinancings
3 capital raises
Adj. EBITDA margin increase
From -4% to +7%
Increase in order intake
> 40%
