Out of the crisis with a value creation programme:
Robotics
EUR 1.1bn
6,000
1
Challenge: Emerge strengthened and profitable from the global crisis
TRANSFORMATION
VALUE CREATION
WORKING CAPITAL MANAGEMENT
CHANGE MANAGEMENT
STAKEHOLDER MANAGEMENT
INTERIM MANAGEMENT
TURNAROUND
In 2009 the global economic crisis also hit KUKA AG very hard - one of the leading manufacturers of robotics. A huge turnover decline of up to 35 percent was the result. The capital providers and financial institutions were primarily concerned about the company's financial stability.
To turn things around together with the management team, Walter Bickel was appointed to the board as COO/CRO.
2
Approach: As lean as necessary, as strong as possible
To achieve the necessary turnaround, a comprehensive value creation programme was launched. The focus was on streamlining the Group's headquarters, increasing the profitability of the two business units "Systems and Robotics" and realigning and improving their leadership and management structure.
In addition, we set up an independent robot production facility in Shanghai to better serve the important markets in Asia and the USA.
3
Result: With a clear focus on value improvement
The turnaround was achieved through standard cost levers in the areas of SG&A, purchasing and production, combined with a considerable streamlining of processes and structures. In addition, a new generation of robots was introduced, key account management was strengthened and reporting and controlling activities were optimised. Through three capital increases and a comprehensive refinancing, KUKA AG was financially stabilised and positioned for the future - thanks in part to Walter Bickel's trusting relationships with the capital providers.
The measures led to value improvements in the double-digit millions in all areas. All this ultimately caused the share price to rise from an initial € 6 to € 36. Walter Bickel assumed the role of head of the audit committee on the supervisory board after the end of the COO mandate. After accompanying the acquisitions of Reis Robotics and SwissLog, Walter Bickel was a member of the board of directors of SwissLog 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."
