Wintersteiger has declared their turnover target for 2022, aiming for €200 million, an increase from the manufacturer’s results in 2021 which was reportedly €168m.
According to the press release by Wintersteiger, Florestan von Boxberg, CEO of Wintersteiger, is convinced that in spite of current procurement problems, Wintersteiger will overcome the downturn caused by COVID-19 this year and exceed the €200m turnover threshold for the first time.
The company’s sales and profits were affected by the beginning of the pandemic in 2020, with a collapse in turnover of 26%.
But Wintersteiger used the crisis as an opportunity for company acquisitions and a product drive. The general importer for Norway and Sweden was acquired in 2021. At the start of 2022, a majority stake was acquired in a mechanical engineering company for Wintersteiger’s Division Woodtech near Stuttgart, Germany, along with a minority stake in an IT company in Vienna.
Last year, the divisions Seedmech and Woodtech also saw strong growth up to €44m, an increase of 38%, and €39m, an increase of 18%, respectively.
“In 2021 all of our divisions posted profits in spite of significant investments in the future,” highlighted Harold Kostka, CFO of Wintersteiger.
In 2022, with turnovers of around €50m per division, Wintersteiger will reach a size that allows more independence. This was the argument the management board used when announcing the spin-off of the four divisions into independent companies, a production and supply chain limited company and the formation of a strategic holding as a major project for the current year.
“We are delegating decisions to the areas where they can be made proficiently and quickly,” said Boxberg about the restructuring. “This will allow us to focus even more on the needs of our customers in the divisions, and the production company will be able to further drive forward the industrialisation of our products.”