Balluff looks back on a successful 2023 financial year
With sales of 599 million euros, it was the third record year in a row for the sensor and automation specialist
Balluff is pleased with the growth achieved: At 599 million euros, the family-owned company has increased sales by 5.7 percent compared to the previous year. The networking and positioning business areas have grown particularly strongly. "We are proud of what we have achieved together as a global team," emphasizes Managing Director Katrin Stegmaier-Hermle.
After three record years in a row, the 2024 financial year is challenging the company with difficult geopolitical conditions and a still weak global economy. Many customers are holding back on investments or are implementing projects with stocks of parts stored during the component crisis. The company is responding with cost-saving measures and, since July, with reductions in working hours and wages.
Short-time work will be implemented from October. Upcoming investments are being checked for priority and feasibility. Katrin Stegmaier-Hermle emphasizes: "The current situation is demanding a lot from us. But as a group of companies we are well positioned for the future because we are resilient, innovative, digital and have a strong team.”
Investments in resilience and for employees
“Promoting our own resilience is important and makes us future-proof,” emphasizes Managing Director Frank Nonnenmann. “Regionalization and diversification are important for this.” The diversification of the industries served makes the sensor and automation specialist more independent of customer demand.
At the same time, the company has recently significantly strengthened its own production and logistics network: Three large-scale production sites in the EMEA, APAC and Americas regions make production robust and guarantee short delivery times and a high level of delivery capability.
As the largest employer in Neuhausen, Balluff is also investing in its headquarters and continuing to expand the innovation and competence center. The new administration building offers state-of-the-art working conditions and will be occupied at the beginning of next year.
