Engel's revenues have passed €1.5bn for the first time
Engel 2017/18
ENGEL has confirmed the conclusion of its 2017/18 financial year saw achieve revenues worldwide in excess of €1.5billon Euro (approx. £1.31 GBP).
Announcing the results for the first time at the Chinaplas trade fair in Shanghai this week, the company revealed sales reached €1.51 billion Euro, an increase of 11 percent on the previous year’s results.
The unveiling of the numbers at the show is particularly poignant, as the company’s CSO, Dr. Christoph Steger, revealed that Engel’s production plant in Shanghai alone sold around 20 percent more machines in the 2017/18 financial year.
"The investment climate in China is at a new high,” Steger told international media during a press conference, adding that the automotive industry in particular is a driver of growth in the sale of machines for automotive lighting and lightweight part production using composite technologies.
Germany leads, US gains
In an overview of its other key markets, the company revealed there has been a slight shift in the distribution of the 1.51 billion Euro in worldwide revenue.
America has increased by two percent, to 26 percent. With 53 percent, currently, Europe still represents the lion's share. Asia is at 20 percent.
From a worldwide perspective, North America – USA, Canada and Mexico – and Asia are the primary growth drivers for Engel, with South America also picking up speed.
In Europe, Germany remains the strongest sales market and, says Engel, also “the most important driver of innovation.”
From the perspective of the industries, Engel said the strongest growth worldwide is in the packaging area, followed by technical moulding.
6,600 employees worldwide
At the beginning of the new financial year 2018/19, the Engel Group employs 6,600 people worldwide – more than ever before. More than half of these (3,700) are working in the three Austrian plants.
During the Fakuma trade fair in October 2017, Engel's CEO expanded on the company's development plans, more about which you can read here.