Wago
Europe drives growth
The Wago Group increased its turnover by 6.4% in the 2016 financial year. The European market was a particular growth driver, while the BRIC countries played a more subordinate role.
The Wago Management Board (from left): Christian Sallach (Chief Marketing Officer), Jürgen Schäfer (Chief Sales Officer), Kathrin Pogrzeba (Chief Human Resources Officer), Sven Hohorst (Chief Executive Officer), Ulrich Bohling (Chief Operating Officer) and Axel Börner (Chief Financial Officer).
© WagoSpecifically, the provider of electrical connection and automation technology achieved sales of EUR 766 million in the past financial year with around 7,500 employees worldwide, compared to EUR 720 million in the previous year. Germany accounted for 29% of this figure, while the rest of Europe achieved a share of 40%. Asia generated 18% of sales and the Americas 13%.
Wago invested almost 100 million euros in 2016 - 70% of this in Germany alone. According to CEO Sven Hohorst, the company intends to maintain this volume this year. In addition to considerable investments in the IT infrastructure (SAP rollout in international companies), among other things, a large part of last year's investments also went towards completing the Wago construction projects in Minden (customer and training center) and Sondershausen (logistics center), which went into operation in 2017.
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