Wago
Strong growth in the 2018 financial year
The Wago Group closed 2018 with growth of 8.1% and is also expecting growth in the mid-single-digit percentage range for the current financial year.
"With sales of EUR 932 million, we have achieved our targets," explained Chief Executive Officer Sven Hohorst at the annual press conference of the supplier of electrical connection and automation technology. The breakdown by national markets remained the same as in the previous year: 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%, with India recording particularly good growth, and America with 13%.
According to the company, particularly positive developments can be seen in Europe, both in south-eastern Europe and in Scandinavia. In Norway, for example, the company is very successful in the area of connecting e-mobility columns.
Germany remains investment focus
With 29 international companies and 80 agencies, the Wago Group has a global presence. However, a clear investment focus remains in Germany. Around 70% of the total investment of 120 million euros has gone into the sites in Minden, Päpinghausen and Sondershausen. This year, the investment sum will increase further - with a similar distribution. The largest current project is the new vending machine assembly plant and individual parts warehouse in Minden/Päpinghausen, which will receive around 50 million euros. Completion is planned for fall 2019.
At the end of the year, Wago employed more than 8,500 people worldwide - over 3,900 of them in Germany, including 2,900 at the Minden headquarters and over 1,000 in Sondershausen/Thuringia.
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