Engel has confirmed that the fiscal year has closed at a record high for the company, confirming the group’s strategic direction: ENGEL has reported a 1.7 billion euros turnover for the financial year 2022/23. This is the highest turnover in the company’s history.
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ENGEL surpassed last year’s turnover of 1.5 billion euros by 13%. Stefan Engleder, CEO of the ENGEL Group said: “Closing at 1.7 billion euros, we reached the highest turnover in the company’s history, is pleased to announce. Especially the business segments of Automotive, Medical, Packaging, and Technical Moulding contributed to this growth. In North America and Europe, investments were made, for example, to meet the continuing high demand for products used in Diabetes therapy. In contrast, the trend towards sustainable packaging concepts was mainly affecting Europe. Investments in logistics applications are still at a high level. The automotive industry has been the strongest driver of our success over the last fiscal year. This sector has proven to have a significant impact on economic growth, especially in Asia and North- and South America.
Engleder added: “As we have already demonstrated in the past, we can adjust fast to changes in the business environment and absorb their impact. We are confident that by consistently following our strategic goal to drive innovations and be an industry leader, we have set ourselves up for success in the upcoming year.”
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