HARTING Technology Group asserts itself in a difficult environment
Published on : Saturday 30-11-2019
Sales down slightly by 1.6 % at € 750 million/E-Mobility and Customised Solutions prove to be growth areas/Record investments totalling € 66 million/288 new jobs created worldwide.
Espelkamp, November 29, 2019 – The HARTING Technology Group based in Espelkamp (Minden-Lübbecke district) stood up well in financial year 2018/19 (to September 30) despite the difficult economic climate. Sales recorded by the globally active family owned and managed business dropped slightly by 1.6 % to stand at € 750 million (previous year € 762 million). This was the second-highest sales figure in the 74-year history of HARTING.
“In view of various indicators, we were expecting this result,” said Chairman of the Board Philip Harting. Political uncertainties, trade wars, Brexit and currency effects had all impacted the result. “After adjusting for currency effects, we would otherwise have repeated our previous year’s record result,” the HARTING Chairman made clear.
At the annual press conference in December 2018 he had previously predicted sub-5% growth for financial year 2018/19, but by the time of the HANOVER Fair, he referenced the great effort being made to match the previous year’s result and adjusted his guidance. “Measured against the competitive environment and against our customers, we nevertheless stood up well,” the Chairman continued, pointing to the forecast by the industry association VDMA (“these are all our customers”), which assumes a drop of 2% for both 2019 and 2020.
The regions in which HARTING does business worldwide have developed along varying lines in financial year 2018/19. Besides declines there has also been some powerful growth. For example, in Europe (excluding Germany) and in the Middle East and Africa (EMEA), sales climbed 6 % to € 278 million (previous year: € 263 million). In the Asia region HARTING recorded stable performance: Sales here slipped slightly by 0.5 % to € 186 million (previous year: € 187 million). Meanwhile in the Americas, the Technology Group saw sales down by 9 % to € 72 million (previous year: € 79 million). In Germany, too, sales were down 8 % at € 214 million (previous year: € 233 million). Philip Harting stated clearly that “the crisis in the wind power industry, substantial downturns in mechanical and plant engineering as well as trade disputes had a clear impact, and Germany’s engine of growth is faltering.”