Wintersteiger concludes 2017 with 30% increase in pre-tax profits
Wintersteiger CEO Dr Florestan von Boxberg
The Wintersteiger Group announced a 10 per cent increase in sales turnover and 30 per cent profit increase for the FY ending 2017.
In 2017 the Group posted a record turnover of EUR154 million and pre-tax profits of EUR7.8 million. The Management Board is confident that Group turnover will continue this positive trend in 2018.
CEO Dr Florestan von Boxberg said he was pleased with the Group’s performance, while CFO Harold Kostka said that the Group’s re-organisation in 2015 and re-orientation towards growth are paying off.
The Sports business posted a turnover of EUR62 million, making it the Group’s biggest, grew strongly for the third successive year in 2017, setting a new record. Saw blades, machines and plants also saw a record turnover of EUR 28 million.
2017 was another year of market consolidation for the Seedmech business field, with a turnover of EUR33 million. Continued subdued demand for field research equipment was one of the reasons for these results. There was a clear improvement in orders over the second half of the year.
The Metals business jumped by just over 50 per cent last year, generating turnover of EUR27 million. The German subsidiary Kohler Maschinenbau GmbH also grew strongly in all market segments. The de-burring machines business (Paul Ernst Maschinenfabrik) was sold.
In the Automation business, Gruber Automations GmbH recorded a turnover of EUR4 million, double the previous year’s figure.
Wintersteiger employed 892 people in 2017; 521 are based in Austria. The Group plans to increase staffing in 2018, particularly in sales, technical customer services and technology.
The saw blade factory at Arnstadt, Germany, is currently expanding, as is the logistics base in Salt Lake City, US. Wintersteiger also poured in over EUR 10 million to fund research and development efforts in 2017.
Dr Boxberg said, “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.”