News

Growth through internationalisation and innovation

09.11.2015

"The course of business over the current year has exceeded our expectations. If the fourth quarter proceeds according to plan, we will generate total turnover of 565 million euros", says Hans-Eberhard Koch, Chairman of the Management Board. Through the end of September, the Group generated 436.8 million euros in revenue. This figure represents a 41.7 million euro (10.6%) increase from the same period of the previous year (adjusted for currency effects: +21.7 million euros / +5.5%).

Balanced international growth
Witzenmann's regional and industry-specific diversification is critical to the Group's success. This approach makes it considerably easier to balance out diverging economic trends.
The proportion of turnover currently generated outside of Germany is 68.6%. The successful performance seen in the US, Chinese, Russian and Indian markets is a major pillar of growth. However, the Group also saw turnover increases in the European market.

Extremely positive trends in the automotive segment
Sales in this area increased most notably for decoupling elements for exhaust systems and pipeline elements installed close to the engine – both for passenger cars and commercial vehicles. This trend was fuelled in part by the upturn in automobile sales in Europe.
General industry sales were on target. In this segment, Witzenmann is focused on expanding its international operations and growing its own industry network.

More international personnel
As of late September 2015, there were 3,919 people employed at the Witzenmann Group across the globe. This was a 4.3% increase from the end of 2014 (3,756 employees). Roughly 50% of these employees work at the Group's German companies, with 30% employed in other European countries and approximately 20% at the subsidiaries in the Americas and Asia.
The company headquarters in Pforzheim serves as both the centre of competence and the control hub for the entire Group.

Strategic pillars: Internationalisation and innovation
Internationalisation and innovation are the essential strategic principles for the continued development of the Witzenmann Group. The new automotive components site in Mexico is ready to begin operations. As soon as customer approvals have been obtained, series production can begin for automotive customers.
Efforts to expand the Group are continuing. Here, Witzenmann is primarily concerned with increasing the international focus of its industrial business. The Group's subsidiaries in Russia, Brazil and China now serve as production sites for the related industrial segments. In Brazil, the first locally manufactured large-scale order for the chemical industry was delivered.

The spirit of innovation is a deeply rooted concept at Witzenmann. The Group uses systematic innovation management to keep watch for new applications in future markets, for example in connection with the reduction of exhaust emissions from combustion engines, in the mobile or stationary use of fuel cells, in aerospace applications or on rail vehicles.

Despite all the current social, political, societal and technological challenges, the Witzenmann Group expects to see continued growth in the year ahead. The Group has its sights firmly set on reaching its 2025 turnover target of 1 billion euros.

 

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