Austrian machine maker forecasts higher sales for 2023 / Outlook worsens for next year / New plant to be built in Hungary
While competitors such as Arburg and Engel expect significant declines in sales for the current business year, Austrian injection moulding machine manufacturer Wittmann (Kottingbrunn; www.wittmann-group.com) said it is expecting sales of EUR 410 mn in 2023, a 9% increase. 

The reason is the high order backlog that the company still has from 2022, managing director Michael Wittmann told Plasteurope.com in an interview at the Fakuma trade fair in Germany. For another two months or so, the machine maker will be busy working off old orders, he added.

After that, however, as with competitors, the lean period is expected to begin. New orders have also collapsed this year, Wittmann said. He did not give an exact figure but referred to estimates from industry associations for a slump of around 30%. Sharply increased material and energy prices, high interest rates, market saturation after the post-pandemic order boom, and uncertainties regarding economic development have led to a cooling off on the customer side, Wittmann explained. 

Related: Turnover at Engel expected to decline by 6%

The head of the company noted that he does not expect a noticeable recovery in demand before the second quarter of 2024. However, signs of a slight rebound in some countries in Western Europe give him cause for cautious optimism, he said. Nevertheless, he added that he expects turnover in 2024 to be at the level of 2022 – this means revenues of around EUR 375 mn.

Michael Wittmann (Photo: Wittmann)

Currently, Wittmann generates about 60% of its turnover in Europe, another 30% in the Americas (mainly in the US and Mexico), and 10% in Asia (China and India). To increase its presence in Asia, the company plans to open a sales office in Vietnam in the near future.

Meanwhile, expansion is underway in Hungary – a factory for sheet metal processing is to be built near the existing plant in Mosonmagyaróvár by 2025. Wittmann declined to details on the amount of the capacity expansion or the investment sum. It is too early for that, he said, as project planning for the plant has just begun.
20.10.2023 Plasteurope.com [253853-0]
Published on 20.10.2023
Wittmann: Spritzgießmaschinenbauer erwartet für 2023 Plus beim UmsatzGerman version of this article...

© 2001-2024 Plasteurope.com  |  Imprint  |  Privacy  |  Cookie settings

Plasteurope.com is a business information platform for the European plastics industry. It is part of KI Kunststoff Information and PIE Plastics Information Europe, one of the leading content providers for the European plastics industry. We offer daily updated business news and reports, in-depth market analysis, polymer prices and other services for the international plastics industry, including a suppliers guide, career opportunities, a trade name directory and videos.

News | Polymer Prices | Material Databases | Plastics Exchange | Suppliers Guide | Jobs | Register | Advertising

PIE – Plastics Information Europe | KI – Kunststoff Information | KunststoffWeb | Plastics Material Exchange | Polyglobe | K-Profi
© 2001-2024 by Plasteurope.com, Bad Homburg
Date of print: 19.07.2024 02:53:42   (Ref: 128246059)
Text and images are subject to copyright and other laws for protection of intellectual property.
Any duplication or distribution in any media as a whole or in parts requires prior written approval by Plasteurope. URL: http://www.plasteurope.com/news/detail.asp