In his legendary marketing speech 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 an overarching message, a value proposition. Nike, for example, hardly ever talks about why its own soles are better than those of others, but rather: "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, even inspire people. For us too, it was never just about providing our customers with the best technologies available in our industry worldwide - but about communicating what we stand for as a company with over 100 years of history. Why we are unique, from our machines to our architecture and our social commitment. This is what we are about!

In this annual report, we deliberately do this with the voices of those who work for us in different parts of the company. We also let customers and partners have their say on what they associate with the TRUMPF brand. I could also use the Steve Jobs analogy and 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 to EUR 4.3 billion and incoming orders to EUR 4.2 billion. We have countered this decline with great determination - and now believe that we have reached the end of an economic downturn lasting a good two years and are ready to take off again. Thanks to our own strength. And thanks to extremely loyal customers who trust in our technologies and services - and in the value of the TRUMPF brand.

Nicola Leibinger-Kammüller