Lapp closes the financial year successfully
The company made 31 percent more sales and was able to increase the workforce by 10 percent
Despite geopolitical and economic challenges, the Lapp Group once again successfully closed the past 2021/2022 financial year (October 1 to September 30). The turnover of the world market leader for integrated solutions in the field of cable and connection technology climbed by 31 percent to 1,864 million euros. As of September 30, 2022, the number of employees increased by 10.2 percent to 5,055 worldwide. Earnings before taxes (EBT) increased to EUR 132.9 million.
The group of companies has grown significantly in all three regions of Lapp. EMEA (Europe, Near and Middle East, Africa), the most important region with around two-thirds share of Group sales, improved by 29.4 percent to EUR 1,352 million. In the Americas region (USA, Mexico, Canada, South America), sales soared to EUR 192 million – an increase of 40.2 percent. And in the APAC region (Asia, Pacific, Oceania), sales climbed by 32.7 percent to EUR 320 million. Since Lapp's order intake was +6.5 percent higher than sales on average for the year, the order backlog as of the balance sheet date on September 30, 2022 increased to EUR 356 million and was thus significantly higher than the previous year's reporting date.
Earnings before taxes (EBT) increased to EUR 132.9 million and the return on sales increased by 1.5 percentage points to 7.1 percent. The significant pressure on margins due to increased material and logistics costs was offset by improved capacity utilization in the factories and an only disproportionately low increase in personnel costs and other expenses. At 44 percent, the equity ratio was higher than in the previous year and thus remained at a consistently high level.
