HARTING Technologiegruppe Surpasses Billion-Euro Mark, Projects Slower 2024
HARTING Technologiegruppe achieved over one billion euros in revenue for the second time, but anticipates a challenging 2024 with a projected sales decline due to reduced order intake.
The HARTING Technologiegruppe has again surpassed the one billion euro revenue mark, reporting €1.036 billion for the 2022/2023 financial year. This represents a slight decrease of 2.2% from the previous year's record of €1.059 billion, a development the company attributes to a stabilization after years of strong growth.
Sales performance varied regionally. The Americas saw a 9% increase to €159 million, supported by economic incentives. Asia experienced a 9% contraction, amounting to €24 million, largely due to the weakness in the Chinese market. Germany remained stable at €277 million (+2%), while the EMEA region (excluding Germany) saw a 5% decline, reaching €355 million.
HARTING invested €76 million in its production and development activities, exceeding depreciation. These investments focused on expanding capacity in Romania and Mexico, establishing a new plant in Vietnam, and enhancing digitalization and automation across its sites. The company aims to bolster its resilience in a challenging economic climate.
The company is committed to sustainability, targeting a 60% reduction in global CO2 emissions by 2027 and climate neutrality by 2030. Despite plans to invest around €75 million in new solutions and infrastructure for the 2023/24 financial year, HARTING anticipates a high single-digit percentage decrease in sales for the current fiscal year. This outlook is based on a 10% drop in incoming orders, prompting measures such as flexible production management and potentially short-time work.