Engel Achieves Record Earnings
For the fiscal year ending in March, the Austrian maker of injection molding machines and automation reported earnings of euro 1.7 billion ($1.86 billion), an all-time high.
Engel (Schwertberg, Austria) reported the highest turnover in the company’s history for the fiscal year 2022/2023, which ended in March. The company saw its turnover increase by 13%, generating revenue of euro 1.7 billion ($1.86 billion) compared to euro 1.5 billion in the year prior. The record year comes off an earnings period two years ago — fiscal year 2020/2021 — when sales had fallen 15% as the group generated revenue of euro 1.1 billion.
End-market wise, the automotive, medical, packaging and technical molding segments contributed to the record year. The company noted that in North America and Europe, machine investments were made to support continuing high demand for diabetes therapy products. Elsewhere, investments in logistics applications remained at a high level, according to the company, while the automotive industry has been the strongest driver of the company’s success over the last fiscal year, particularly in the Americas and Asia.
Stefan Engleder, CEO of the Engel Group, reported record annual earnings for the company in its most recent fiscal year.
Photo Credit: Engel
Related Content
-
Real-Time Production Monitoring as Automation
As an injection molder, Windmill Plastics sought an economical production monitoring system that could help it keep tabs on its shop floor. It’s now selling the “very focused” digital supervisor it created, automating many formerly manual tasks.
-
How Was K 2022 for Blow Molding?
Over a dozen companies emphasized sustainability with use of foam and recycle, lightweighting and energy savings, along with new capabilities in controls, automation and quick changeovers.
-
50 Years...600 Issues...and Still Counting
Matt Naitove marks his first half-century in plastics reporting, with a few of his favorite headlines.
