Eberspaecher ‘Successfully Continues its Transformation’ – RVBusiness – Breaking RV Industry News
ESSLINGEN, Germany – Despite a challenging 2024 financial year and decreasing revenues in all divisions, the Eberspaecher Group is successfully continuing its transformation, according to a press release. The company is opening up new business areas with significant operational improvement and a clear focus on manufacturing excellence.
The Eberspaecher Group looks back on the 2024 financial year with caution. Eberspaecher was negatively impacted by global uncertainties and the slowdown in international industrial production, particularly in the second half of the year. This affected all Divisions. E-mobility products also experienced significantly lower call-offs than expected.
The consolidated revenue of the Eberspaecher Group decreased by 16.0% to EUR 5,333.2 million (prior year: EUR 6,349.0 million). Net revenue – adjusted for transitory items such as monoliths* decreased by 9.0% to EUR 2,731.7 million. This development is due to changes in the product mix and therefore to a lower proportion of transitory items and lower precious metal prices.
The purely operating result adjusted for extraordinary items and one-off expenses in connection with the transformation, amounted to EUR 114.1 million (prior year: EUR 58.0 million). The operating result increased significantly despite a drop in revenue. The cost-cutting and restructuring measures introduced and the consistent focus on manufacturing excellence at the global plants were a couple of the key factors that contributed to this. The company employs 10,680 employees in over 30 countries, with around 3,600 of these employees based in Germany.
Outlook
“We are continuing to pursue our course of technological openness,” emphasizes Chairman of the Executive Board/Managing Partner Martin Peters. He continues: “We are essentially a technology provider, and we transfer existing expertise to new business areas, including outside the automotive industry. This opens up opportunities for long-term success in changing market conditions.” This includes the hydrogen activities. In order to increase the availability of hydrogen, Purem by Eberspaecher developed a concept for the industrial production of high-temperature electrolyzers as part of a strategic partnership with Topsoe. The Group’s exhaust and acoustics specialist delivered the first two four-ton units to the Danish technology company at the beginning of June.
Meanwhile, the current financial year remains challenging due to the high volatility in the markets. “Our focus is therefore on maximum flexibility in our actions and on improving efficiency and competitiveness in our core business. The transformation measures introduced in recent years are having an impact,” summarizes Peters.
