Major milestone for HARTING, passes the billion euro mark
The HARTING Technology Group has, in spite of adverse conditions, exceeded the billion euro revenue mark for the first time.
Turnover increased by 21.8 % – or EUR 190 million – to EUR 1,059 million, compared to EUR 869 million in the previous year.
In Germany, the group's largest market, turnover increased by 12% to EUR 270 million. The EMEA region grew by 17% to EUR 373 million in turnover. The Asia/Pacific region showed even stronger growth of 25% to EUR 269 million and the Americas by as much as 57% to EUR 147 million.
During the year the number of employees grew by 256 to 6446, mainly due to the expansion of the plants in Mexico, Romania and the USA.
In addition to catch-up effects resulting from the Corona pandemic, the company states that the main growth drivers were the industrial transformation, advancing digitalisation and the development of energy-efficient production technologies and products.
"We will continue to focus on strengthening our global footprint," says Philip Harting who sees the company as well positioned.
For example, the group invested in the expansion and new construction of its plants in Romania, the USA, Mexico and India, as well as in digitalisation and additional development capacities geared to strengthening its core business. Record investments of around EUR 80 million are also planned for 2022/23.
Looking forward to the 2022/23 business year, growth expectations are considerably more subdued considering inflationary-recessionary economic developments and material and energy shortages. The development of energy and material prices develop will be decisive, the company states. The Ukraine war as well as the tensions in connection with Taiwan and challenging material shortages all add up.
"We expect a sideways movement and will also have to work hard to confirm the result we achieved this year," Philip Harting concludes.