In his legendary marketing lecture in 1997, Apple founder Steve Jobs said that the greatness of a brand is not measured by whether it comes up with technical features that differentiate a product from the competition, but by its overarching message – a value proposition. Nike, for example, hardly talks about why their soles are better than those of other shoes, but: "They honor great Athletes and they honor great Athletics. That is what they are about.“

Even though TRUMPF is not a consumer goods manufacturer, I still find a lot of truth in these words. Our products also electrify and inspire people. For us, too, it was never just about providing our customers with the best technologies available in our industry worldwide – it was about conveying what we stand for as a company with over 100 years of history. We show why we are unique, from our machines to our architecture and social commitment. This is what we are about!

We consciously do this in this annual report, by sharing the voices of those who work for us in different areas of the company. We also let our customers and partners have their say and let us know what they associate with the TRUMPF brand. In analogy to Steve Jobs, I could also say: "We honor our great customers and partners and their great businesses."

The fact that we, like most other industrial companies, have had an extremely challenging financial year is reflected in the decline in sales of 4.3 billion euros and order intake of 4.2 billion euros. We have faced this situation with great determination – and now believe that we have reached the end of a two-year economic downturn and can get back on track. This is thanks to our own efforts and to our extremely loyal customers, who trust in our technologies and services – and in the value of the TRUMPF brand.

Yours truly, Nicola Leibinger-Kammüller