Schmitz Cargobull ends financial year with increased turnover

Schmitz Cargobull has closed its 2022/23 financial year (from 01 April 2022 to 31 March 2023) with an increased turnover of €2.6 billion (euros) up 13 per cent over last year. 

The trailer manufacturer considers this a big win, considering the political and economic strife that marked the year. 

With 6,800 employees, the group produced 57,122 vehicles (previous year was 61,082 vehicles), but in combination with improved efficiency in the company, was able to record positive gains after a previous year of losses. In the reporting period, earnings before interest and taxes (EBIT) amounted to €108.5 million (euros). At 4.1 per cent, however, EBIT is still below the target of 5 per cent set by the company in its Strategy 2025.

“The past crisis-ridden years and the great uncertainty in the market have taught us to react agilely to the unexpected,” said CEO of Schmitz Cargobull, Andreas Schmitz. “After a loss of €15 million (euros) in 2021/22, the positive result of the last financial year gives us the opportunity to invest more heavily again in research and development, the expansion of aftersales, the optimisation of our production facilities as well as in digitalisation, sustainability and jobs.”

Despite  numerous disruptions with interrupted supply chains, bottlenecks in the supply of materials and high cost increases, Schmitz Cargobull says it has continued the expansion and the adaption of its international production network. In the last financial year, investments included a new plant in Zaragoza, Spain, and capacity expansions at plants in the UK and Turkey. 

“Our ambitious goal is to transform our production plants into intelligent factories – so-called ‘smart factories,’ Schmitz said. The principles of the data-driven factory of the future are to be successively implemented at all production sites. This requires virtual production planning, data-driven manufacturing and largely digital logistics in the plants.”

By doing this, Schmitz expects the company to increase productivity by at least three per cent and have already taken the first steps with automation and digitalisation in axle assembly in Altenberge, Germany.

The aftersales and digital services business, which proved to be extremely robust in the reporting period, also played a decisive role in the good result, Schmitz said, with the company making significant gains in all aftersales and digital services area.

Revenue in the 2022/23 financial year climbed to a total of €403.9 million (previous year: €345.6 million). Despite material shortages, supply chain disruptions and the consequences of war, spare parts were readily available at the 29 distribution locations. As in the previous year, this segment was able to maintain its position as the third strongest product line in terms of Group turnover after the S.KO semi-trailer box and S.CS curtainsider segments.

In other company news, Schmitz Cargobull announced it will acquire a 49 per cent share in Austrian lightweight vehicle company Berger Fahrzeugtechnik.

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