The Balluff Group's turnover rose from 459 to 488 million euros in 2018. "Overall, 2018 was a good year," says Managing Director Katrin Stegmaier-Hermle. "After the record growth of more than 21 percent in 2017, we knew that a somewhat calmer phase was needed. Such a pace for several years in a row is not sustainable. That's why we had set ourselves the target of high single-digit, almost double-digit growth for 2018. We also achieved this target in almost all markets. The fact that it ended up being 6% is due to the American markets, which fell short of expectations. In North America, this is partly a consequence of the current protectionist measures and in South America the situation was difficult throughout the year, especially in Brazil, the largest single market," explains the Managing Director. The return on sales (EBIT) is in the upper single-digit range.

Balluff has made a cautiously optimistic start to the current year. According to Stegmaier-Hermle, the Group is planning growth at a similar level to 2018. "This is an ambitious target given the growing uncertainties on the markets," admits the Managing Director. Many industries still have a high demand for automation solutions. Nevertheless, it is also noticeable that customers, especially in the automotive and mechanical engineering sectors, are currently acting rather cautiously in view of global developments. Balluff Managing Director Michael Unger explains: "Even if the current situation does not point to another record year, we are convinced that we are operating in an absolutely promising industry in the medium and long term."

According to Unger, Balluff has used the somewhat slower growth momentum in the past year to realign the company structurally. In order to position itself for the future, a structure based on three focus industries was established last year, replacing the previous organization based on technologies and product groups. This divisional structure could ideally reflect the requirements of the most important main markets.