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Strong revenue growth drives Harting Technology Group forward

21 January 2015

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Strong revenue growth drives Harting Technology Group forwardThe Harting Technology Group in Espelkamp has started the 2014/15 financial year with a strong tailwind. Revenues rose during the past 2013/14 financial year (1 October 2013 to 30 September 2014) by 13 per cent to EUR547 million (previous year: EUR484 million).

Philip F.W. Harting, Senior Vice President Connectivity & Networks and President/General Partner, remarks: “The strong growth is spurring us on and acting as a motivational factor for the entire Group. We are absolutely delighted. This is a result that we predicted at the last annual press conference. We have therefore delivered.” At the beginning of December 2013, the Harting Senior Vice President forecasted revenues of over EUR500 million for the 2013/14 financial year.

Business performance was very strong in the individual regions in which the Harting Technology Group operates. Only the EMEA region (excluding Germany) reflected marginal revenue growth. In contrast, revenues in Asia increased by 40 per cent to EUR126 million (previous year: EUR90 million).

Europe – excluding Germany and the Middle East (EMEA) – showed a slight 0.4 per cent rise in revenues to EUR175 million (previous year: EUR174 million). Harting’s revenues in Germany climbed by 11 per cent to EUR194 million (previous year: EUR174 million). In the Americas, the Espelkamp-based, family-owned company posted a 13 per cent increase to EUR52 million (previous year: EUR46 million). The Harting Technology Group generated over two-thirds of total revenues (64 per cent) abroad. Philip F.W. Harting says: “We aim to achieve customer proximity worldwide. That applies to all of our markets. We are focusing in particular on the Asian growth markets and above all on China.”

Every network a gift

Many emerging countries have to expand their infrastructure to keep pace with population growth. Connectors are needed for every new house as well as for every new factory, every school, local authority, every hospital and every elevator. Philip F.W. Harting notes: “Connectors offer various advantages over fixed connections. Any interconnection can be set up via a fixed cable but it is easier, more flexible and more cost-effective over the long-term to use connectors. Consequently, each and every network is a gift for Harting.”

In view of these growth opportunities, Harting has set up new production facilities in China, Brazil and Romania. Torsten Ratzmann, Senior Vice President Logistics and Production, says: “These countries offer enormous future potential. We intend to expand Harting’s global production network step by step.”

With new products and systems, Harting successfully consolidated its market position as a research-led and innovative technology group with systematic customer orientation in the financial year under review. Harting presented product innovations that provide customers with rapid access to the world of Industry 4.0 at the Hannover Messe and SPS IPC Drives trade fair in Nuremberg. Harting unveiled customised systems for the smart factory at both events.

The Harting Technology Group is driving technological advancement forward in the field of integrated industry in close collaboration with science. Harting is developing approaches aimed at increasing the flexibility of production processes as part of the FlexiMon research project, as Philip F.W. Harting emphasised. The project is part of the ‘it’s OWL’ cluster being implemented in the ‘leading-edge cluster competition’ organised by the Federal Ministry of Education and Research within the framework of the 2020 Hightech Strategy for Germany. The FlexiMon system was exhibited at both trade fairs and attracted much interest from the industry audience.

Positive developments in the business areas

All Harting companies achieved very positive business development over the past financial year. Philip F.W. Harting was generally optimistic about future prospects. The Harting Technology Group nevertheless enters the new 2014/15 financial year with caution. The reasons he cited were a slowdown in global growth, China’s flagging growth trend and geopolitical risks. In this regard, he pointed to the conflict between Russia and Ukraine and the ISIS terror threat emanating from the Near and Middle East.

Philip F.W. Harting says: “We therefore only anticipate slight, single-digit growth for the new financial year. We nevertheless have a clear growth strategy in ‘Route 2020’, we possess the right solutions and products and we have the right team in place worldwide at all Harting sites.”

Looking to the future, Philip F.W. Harting pointed out that the opportunities and changes for the Harting Technology Group as a result of the interconnected world of Integrated Industry are of fundamental strategic importance to the future of the Group. He says: “Thanks to our expertise and innovative products, we believe we are in the position to drive technological advancement forward together with our customers. However, this digital transformation does not just concern our products, as the company itself must also change and modernise.”

The technological transformation makes major demands, for example, of future generations of technical specialists and their capability to collaborate as part of international networks.

For further information about Harting’s revenue growth in the last financial year and ongoing business strategy, please go to www.harting.com.

 
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