WINTERSTEIGER expanding strongly
The WINTERSTEIGER Group continued to grow in line with its strategy in 2017, with turnover up 10% and profit rising by 30%.
“2018 has started as 2017 finished – really well!” CEO Dr. Florestan von Boxberg is satisfied with the Group’s performance, and CFO Harold Kostka adds that “Our Group reorganization in 2015 and re-orientation towards growth are paying off.” In 2017 the Group recorded a record turnover of EUR 154 million, and pre-tax profits of EUR 7.8 million. The Management Board is confident that Group turnover will continue this positive trend in 2018.
The SPORTS business field, whose turnover of EUR 62 million makes it the Group’s biggest, grew strongly for the third successive year in 2017, setting a new record in the process. WINTERSTEIGER has been much more than a machine builder for a number of years, and now provides a full range of services to SPORTS retail and ski rental.
WOODTECH experienced growth in both saw blades as well as machines and plants in 2017, leading to a record turnover of EUR 28 million.
2017 was another year of market consolidation for the SEEDMECH business field, with a turnover of EUR 33 million. Continued subdued demand for field research equipment among large-scale global customers was a major contributory factor in these results. There was a clear improvement in orders over the second half of the year. Dr. Boxberg is optimistic. “We believe the market has now bottomed out.”
Growth in the METALS business field jumped by just over 50% last year, generating turnover of EUR 27 million. Our German subsidiary Kohler Maschinenbau GmbH also grew strongly in all market segments. Our de-burring machines business (Paul Ernst Maschinenfabrik) was sold to a competitor.
In the AUTOMATION business field, the Austrian Gruber Automations GmbH recorded a turnover of EUR 4 million, double the previous year’s figure.
WINTERSTEIGER employed 892 people on average in 2017, of whom 521 are based in Austria. Those figures are almost unchanged from last year. The Group plans to increase staffing levels in almost all areas over the course of 2018, and particularly in sales, technical customer services and technology.
Harold Kostka reports that the WINTERSTEIGER Group has built a solid foundation for further growth with an equity ratio of 53%.
“Our saw blade factory at Arnstadt in Germany is currently being expanded by 50%, and our logistics base at our US headquarters in Salt Lake City is also being extended,” CTO Christian Rauscher explains. “In addition, WINTERSTEIGER again invested over EUR 10 million in research and development in 2017.”
Dr. Boxberg underlines that “In order to implement our growth strategy even faster, we are very much interested in any partnerships or acquisitions which might allow us to expand our operations.”