By the end of March, internationally operating injection molding machine manufacturer ENGEL concluded the fiscal year 2023/24 with a total turnover of around 1.6 billion euros, indicating a minor downturn compared to the previous year. The company is meeting the mixed prospects with an expansion of its global presence while setting new benchmarks in order income for customer-specific automation solutions.
Slight decline in turnover of -6%
The ENGEL Group concluded the fiscal year with a slight decline in turnover of approx. -6% compared to the previous year. “The volume in the injection molding machine market has fallen by up to -40% according to various association figures. ENGEL has succeeded in gaining shares in a shrinking market – a trend consistent with observations from previous economic contractions,” comments Stefan Engleder, CEO of the ENGEL Group, on the turnover of around 1.6 billion EUR. The Business Units Medical and Packaging made a significant contribution to this development. Demand for the production of diabetes therapy products remains high, especially in the American region, while the packaging industry is experiencing a boom in Europe due to new regulations. The after-sales business also manifested positive growth, with a surge of almost +15% compared to the previous year.
The forecast for the new fiscal year remains cautious. “The high order backlog has so far let us get off with a black eye. However, these orders are nearly exhausted. Despite intermittent increases in order income, we are yet to witness a lasting economic recovery – but we hope for the first growth stimuli from the spring fairs Chinaplas in Shanghai and NPE in Orlando,” Stefan Engleder adds.
