Freudenberg Group reports record sales globally & profits surpas

India, sixteenth April 2024: Freudenberg Group, a worldwide know-how conglomerate, which commemorates its one hundred and seventy fifth anniversary yr in 2024, immediately reported record progress in revenues and working profits for the monetary yr 2023. Freudenberg achieved sales of €11,902.8 million, 1.3 % greater than the earlier yr’s determine of €11,753.1 million. The working revenue of €1,081.6 million confirmed a major enhance of about 15 %, in comparison with the earlier yr’s €941.8 million. The revenue margin additionally improved to 9.1 % from the earlier yr’s 8.0 %. Freudenberg Group attributed its progress globally to progressive product traces, buyer focus, and versatile problem-solving throughout varied industries.

Freudenberg India additionally introduced considerably excessive sales at INR 3803 crore. The working outcome for 2023 has been sturdy and the group has introduced investments near INR 350 crore in CY 2024 throughout amenities in Punjab, Karnataka and Tamil Nadu. In Morinda, India, Freudenberg has invested in a brand new manufacturing facility for its Vibracoustic Business Group and its Freudenberg-NOK India three way partnership. The firm exports near INR 800 crore from India.

Freudenberg Group has 11 corporations working throughout numerous segments resembling automotive, chemical, vitality, technical textiles, and cleansing merchandise within the nation. Earlier in 2023, the group introduced the appointment of G. Sivasailam, Managing Director of group firm, Freudenberg Performance Materials, as the brand new Director & CEO of Freudenberg Regional Corporate Center India. Mr. Sivasailam took over from Mr. Georg Graf who had served within the position since 2016, when the Regional Corporate Center was set as much as additional the group’s continued dedication and progress plans for India.

Commenting on the group’s annual outcomes and its monetary figures made public, Dr. Mohsen Sohi, CEO, Freudenberg Group, mentioned, “Numerous information have been set throughout fiscal yr 2023. We achieved the very best figures ever for sales and working revenue. When we glance again over the previous 10 years, it turns into clear how spectacular these figures are. Within a single decade, we’ve got roughly doubled our sales and working revenue with a median annual progress fee of 6 and seven.7 %, respectively. Our investments in analysis and growth have grown by 9.4 % yearly, much more strongly and virtually tripling. I want to thank all our staff worldwide. Their dedication enabled us to realize these historic outcomes”.

“As Freudenberg commemorates 175 years of operations globally this yr, it’s certainly a proud second for Freudenberg India to be a part of the continued progress journey. Freudenberg Group has been dedicated to its rising operations within the nation, throughout numerous domains and throughout the group corporations. We are persevering with to spend money on the enlargement of our amenities and 2024 guarantees to be one other yr of key milestones we’ll obtain in India” remarked Sivasailam.

The Freudenberg Group is driving the vitality transition – with its merchandise and its ambition to change into CO2-neutral by 2045. Sustainability is a precedence for Freudenberg. For the corporate, this primarily includes effectivity in the usage of its vitality and materials assets. Freudenberg needs to cut back its CO2 emissions to zero by the yr 2045 – primarily by means of vitality conservation, electrification, buying and its personal era of inexperienced electrical energy. Keeping in thoughts the fast urbanization of India, Freudenberg’s new initiative additionally goals to cut back carbon emissions footprint.

Freudenberg Group is dedicated to driving the vitality transition and goals to change into CO2-neutral by 2045. Sustainability is a high precedence, specializing in environment friendly use of vitality and materials assets. The firm plans to cut back its CO2 emissions to zero by 2045, primarily by means of vitality conservation, electrification, and inexperienced electrical energy era.

Freudenberg has been sourcing inexperienced electrical energy from photovoltaic and wind energy techniques for years, together with from its personal amenities. Around 20 new photovoltaic techniques have been put in worldwide, with roughly 60 extra in varied planning and execution phases.