HOERBIGER Yearbook
GREAT PROGRESS. AND NOW?!!
Ladies and gentlemen, Dear employees,
The HOERBIGER team achieved great progress in 2023: Together, we continued our profitable growth, drove pioneering innovation projects, and grew closer as a Group in order to learn from each other. The result is an impressive revenue of 1.416 billion euros and plenty of confidence and motivation to pursue our chosen path together.
Our thanks and recognition go to all our employees: We value your daily commitment and know that such a positive result would not have been possible without your dedication. HOERBIGER’s business success is also your own personal success, which you can be proud of, especially in these very turbulent times. As representatives of all employees, we profile some colleagues from around the world and from all business areas who have made HOERBIGER’s success possible in this Yearbook. They are #TeamHoerbiger.
And now ?!! For us, this is not a question, but a clear statement: We will continue to execute our plan to grow profitably in a consistent, ambitious and optimistic manner. The 2024 financial year has got off to a promising start. Since the beginning of the year we have strengthened our existing business with two acquisitions, and further ones will enable us to move into adjacent or new business areas. We are working on expanding our product portfolio in the areas of emission reduction, sustainability and safety. Our innovation projects are our top priority. They are the most important drivers of HOERBIGER’s transformation and profitable growth.
It goes without saying that we would also like to take this opportunity to thank our customers and partners – for their collaboration, support and loyalty.
We hope you enjoy reading this report.
Interviews
Dr. Martin Komischke, President of the Board of Directors of HOERBIGER Holding AG, looks back on the past fiscal year with great satisfaction. In this interview, he explains why he is convinced that the HOERBIGER team will be able to continue the planned profitable growth in the future despite difficult conditions.
Dr. Thorsten Kahlert, CEO and Chairman of the HOERBIGER Executive Board, wants to continue driving the transformation of the Group together with the 6,174 employees on an equal footing. The profitable growth in the past year, progress in innovation projects and the noticeable change in the corporate culture are an ideal basis for this.
As President of the Board of Trustees of the HOERBIGER Foundation, the majority shareholder of the Group, Dr. Andreas Hünerwadel is responsible for the long-term preservation and expansion of HOERBIGER. In this interview, he explains how the Foundation promotes research in the Group companies and why he, together with family shareholder Mrs. Christiana Hörbiger, is committed to the company’s nearly 130-year history.
Strategy & Culture
The HOERBIGER Group’s focus is and remains profitable growth in promising niche markets. With our performance-defining solutions and our passion for innovation, we support customers from various industries in increasing the performance, efficiency and safety of their products and operations as well as saving energy and reducing emissions. In this way, we contribute to change for a better tomorrow while ensuring HOERBIGER’s long-term prosperity.
To implement our strategy, we also need to work on our culture. After all, people and success are inextricably linked. Every Division and Business Unit at HOERBIGER is characterized by people who are ambitious and entrepreneurial. Together, they single-mindedly pursue the strategy of the HOERBIGER Group and contribute significantly to its success. A common understanding of values, expectations and desired behavior is a central prerequisite for responsible action.
Reports from the Business Areas
The Compression Division recorded a significant increase in sales in 2023 and secured its leading global position in compressor service. A new plant in China and new service locations in Saudi Arabia and the USA are supporting global expansion. Rapid progress is also being made in the field of hydrogen mobility.
The Automotive Division is back on the road to success. Consistent cost management, structural measures, operational excellence, the joint bearing of material and energy cost increases, and price adjustments with customers have all improved profitability.
The Rotary Business Unit successfully continued its profitable expansion in 2023. Although the Unit suffered a decline in sales due to the volatility of the semiconductor industry, normalization of the market since the end of 2023 gives Rotary confidence that it will return to its growth path in 2024.
With growth of 21.6 percent, the Engine Business Unit was able to continue the positive trend of previous years and can look back on a strong financial year. This is due to the surprising revival of the oil and gas industry and significant progress in innovation, particularly in the field of hydrogen.
Continuing its strategy of bringing value to customers with product innovation, global expertise, local support and increased competitiveness through operational excellence, the Safety Business Unit generated strong sales and profit growth in 2023. Safety is also expected to grow further in 2024.
People & Sustainability
By promoting a Group-wide culture of innovation and providing customized development opportunities for both experienced and new employees, HOERBIGER is making itself fit for the future.
As a foundation-owned, internationally operating technology group, HOERBIGER has a long tradition of ecological and social commitment. In the course of advancing standardization in the area of sustainability management, the company has made further progress and has committed to being climate-neutral along the entire value chain by 2039.