We have achieved our goals; HARTING Technology Group exceeds billion Euro revenue mark #Engineering #Billion #Euro #RevenueMark

The HARTING Technology Group has achieved a milestone in its corporate history by exceeding the billion Euro revenue mark for the first time. Despite adverse conditions, turnover jumped by 21.8% (€190 million) to €1,059 million, compared to €869 million in the previous year.

Growth emanated from all regions and markets. In Germany, turnover was up by 12% to € 270 million whilst the EMEA region grew by 17% to €373 million. The Asia/Pacific region put in even stronger growth of 25% to €269 million and the Americas by an impressive 57% to €147 million. The number of employees was up by 256 to 6446, mainly due to the expansion of the plants in Mexico, Romania and the USA.

“We have achieved our goals,” said Philip Harting, CEO of the HARTING Technology Group. A year ago, he had thought double-digit growth was possible. “We delivered.”

In addition to catch-up effects resulting from the Corona pandemic, the main growth drivers were industrial transformation, advancing digitalisation and the development of energy-efficient production technologies and products.

“We want to develop new high-performance technologies and solutions for the connectivity of the future to meet the challenges of decarbonisation, demographic change and energy efficiency,” added Harting, outlining the technology group’s aspirations.

Philip Harting sees the company as well positioned. “We will continue to focus on strengthening our global footprint.” The group invested in the expansion of its plants in Romania, the USA, Mexico and India, as well as in digitalisation and additional development capacities geared to strengthening its core business. Record investments of around €80 million are also planned for 2022/23.

In order to develop new connectivity solutions, the company is also relying on strategic partnerships. For example, with Studer Cables AG, which the Harting family acquired in the summer. The expansion and strengthening of the solutions portfolio as well as the development of new connectivity solutions for transportation, machinery, energy infrastructure and renewable energies are other focus areas.

Philip Harting also emphasised the particular significance of sustainability at HARTING: “The expansion of renewable energy production has been an obligation for us, not only since the energy bottlenecks due to the Ukraine war. We have been consistently taking steps towards climate-neutral production for more than 30 years.” The company has reduced C02 emissions from 19,203 t to 1,556 t in Germany since 2010/11 through a variety of measures.

“We are taking responsibility for our environment and future generations. By 2030, we want to be climate-neutral at all production sites worldwide and reduce the carbon footprint for all upstream and downstream processes by 50%,” added Harting. At HARTING, sustainability not only comprises products, processes and production, but all areas of the company, for example, in training and employee development, in the expansion of our health platform for employees and in the extensive and far-reaching commitment to culture, education and sport.

With a look to the 2022/23 business year, growth expectations are considerably more subdued in view of the inflationary-recessionary economic developments and material and energy shortages. The development of energy and material prices will be decisive. “We expect sideways movement and will also have to work hard to confirm the result we achieved this year,” added Philip Harting.

For further information visit www.harting.com