HARTING Reports Sales Decline After Challenging Year

The HARTING Technology Group generated sales of EUR 940 million in the past 2023/24 financial year, a 9.2% decrease compared to the previous year's EUR 1.036 billion. CEO Philip Harting stated that the company outperformed market expectations in a difficult economic climate. The decline was influenced by a significant 20% drop in sales in Germany.

International operations helped offset weaker domestic performance. The Americas region maintained prior-year sales at EUR 155 million (-3%), and Asia followed with EUR 240 million (-2%). The EMEA region, excluding Germany, saw a 9% decrease to EUR 323 million. Philip Harting criticized Germany's business environment, citing excessive bureaucracy, high energy costs, and unstable investment conditions as factors contributing to the economic slowdown.

Despite the sales dip, HARTING continued to invest EUR 69 million in new products, automation, and capacity expansions, including plant upgrades in Poland, Mexico, and the USA, and a new R&D office in Vietnam. The company is also establishing a global headquarters in Switzerland, set to commence operations on October 1, 2025, while maintaining Espelkamp as a key production and development hub in Germany.

Globally, the workforce decreased by 156 employees to 6,049 as of September 30, 2024. However, new positions have been created in research and development across various international locations. HARTING has managed these adjustments without resorting to short-time work.