Wago
Largest sales increase in the last seven years
In the 2017 financial year, the Wago Group recorded the best sales result in its 66-year history. With an increase of 13%, the company not only exceeded its target, but also achieved the largest increase in sales in the last seven years.
Jürgen Schäfer (CSO), Christian Sallach (CDO & CMO) and Sven Hohorst (CEO) presented the Wago Group's latest business figures (from left to right).
© WagoThe Wago Group's turnover in the past financial year amounted to 862 million euros. "We have recorded an increase every year since 2009 and have more than doubled our turnover in these nine years," said Chief Sales Officer Jürgen Schäfer at the annual press conference in Minden on April 17.
Wago has achieved an increase in turnover every year since 2009; overall, turnover has more than doubled since then.
© Wago contact technologyThe increase in sales of the supplier of electrical connection and automation technology is attributable to continuous growth in all national markets; however, the upturn in Europe is noteworthy. This led to a slight shift in market shares: While Germany traditionally represents the most important market for Wago with a 28% share of sales, the rest of Europe accounts for 42%. This is followed by the markets in Asia with 17 % and America with 12 %. Particularly strong growth was recorded in Hungary, Mexico, Turkey and Russia.
The number of employees grew in line with sales. For the first time, Wago employed more than 8,000 people at the end of the year - over 3,500 of them in Germany. The number of employees has almost doubled since 2007. With 277 trainees and dual students in Minden and Sondershausen, Wago is also making a contribution to the development of specialists and managers.
Almost 100 million euros in investments
The company is continuing to invest heavily in its future viability in order to ensure the strategic growth it is aiming for. The investment volume in 2017 amounted to almost 100 million euros, 60% of which was invested in Germany. The focus was on the automation of machines and systems in production. For the current financial year, the Wago Group is planning to increase investment to over EUR 100 million. "The focus of investment will again be in Germany, with a share of around 70%. The largest projects are expansions in production and office buildings at the Minden site," explained Chief Executive Officer Sven Hohorst.
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