Robust annual balance sheet and strong investments

In an economically challenging competitive environment, Wago has proven to be robust in the face of external influences over the past twelve months: Total sales for 2024 stand at EUR 1.24 billion. Compared to the previous year (EUR 1.37 billion), the result is therefore at a good, but slightly lower level. "In view of the changing political and economic conditions worldwide, we are satisfied with this result," says CEO/CFO Jürgen Koopsingraven. "At the same time, we take it as an incentive to continue growing successfully in the future." Germany remains the company's largest market. It accounts for 26.7% of sales (2023: 29.3%). The rest of the European market contributed 43.8% (2023: 42.9%) and the remaining global markets 29.5% (2023: 27.8%) to the overall result.

Wago CEO/CFO Jürgen Koopsingraven © Wago

In terms of investment, Wago invested more funds than ever before: a total of EUR 165.6 million, of which EUR 83.1 million was invested in Germany. A significant proportion of the investment was used to build the new 'Wave24' logistics center at the Sondershausen site in Thuringia, which will further increase product availability and delivery performance in line with customer expectations. As part of its international growth, the company also invested around EUR 17.5 million in the new headquarters of Wago UK & Ireland in Houlton Rugby. The project is equipped with a state-of-the-art building management system and comprises 5,900 square meters of office and production space.

The family-owned company employs around 9,000 people worldwide. Around 3,400 of them work at the headquarters in Minden, East Westphalia, and a good 1,000 at the production and logistics site in Sondershausen, Thuringia. The number of trainees and dual students at both locations has grown to over 280.

New Chief Sales Officer for global sales

Wago CSO Mehdi Sayar © Wago

On April 1, Mehdi Sayar, previously Vice President Sales for the EMEA economic region at Wago, took over the position of Chief Sales Officer (CSO). In this role, he manages all sales branches of the Wago Group worldwide.