SSI SCHAEFER: Revenue Growth and Earnings Improvement in Financial Year 2023
Total Group revenues slightly above previous year at EUR 1.87 billion
Largest business unit, Logistics Solutions, with significant year-on-year revenue growth and improved order intake
Challenging macroeconomic environment had a negative impact on the Group's incoming orders, which were down 4.9% on the previous year at around EUR 1.65 billion
Catch-up effects on revenues and total operating performance in the second half of 2023
Numerous awards for products and automation solutions underline the Group's innovative strength
Neunkirchen/Siegerland (Germany), March 1, 2024 – The SSI SCHAEFER Group, a German family-owned company established more than 85 years ago and a leading international solution provider for all segments of the intralogistics industry, reported an increase in revenues to EUR 1.87 billion (+3.2%) for the financial year 2023, according to preliminary figures. The Group benefited from major project acceptances in the Logistics Solutions and Customer Services business units, which offset the decline in Products & Equipment revenue.
After a subdued first half, the catch-up effects in the fourth quarter of 2023 were particularly noticeable in the largest business unit, Logistics Solutions, although Group order intake remained below the previous year's level at around EUR 1.65 billion or 4.9%. The main reasons for the gloomy investment climate were the difficult macroeconomic conditions caused by political conflicts and the economic weakness in Europe. On the cost side, the extensive measures taken during the year to improve profitability had a positive impact. On the basis of the preliminary annual financial statements, SSI SCHAEFER was able to achieve a significantly improved annual result at Group level compared to the previous year as well as an almost balanced result before taxes.
Peter Edelmann, CEO of the SSI SCHAEFER Group: “The continuing difficult market conditions and the gloomy investment environment pose major challenges for the entire intralogistics industry. Nevertheless, the SSI SCHAEFER Group was able to win significant orders in the financial year 2023, which gives us an optimistic start into 2024. We will continue to work hard with the entire team to set the organizational and strategic course for profitable growth. The key to our success is quality and customer focus – and we are paying special attention to these areas.”
Transformation process is moving forward: focus on innovation and sustainability
A key focus continues to be the strengthening of the SSI SCHAEFER Group's innovation capability with the aim of playing a key role in shaping the digital and sustainable transformation of the industry and expanding its position as a technology leader in intralogistics. The full acquisition of DS Automotion, a leading provider of mobile robotics, which became effective in the first quarter of 2023, was an important milestone on this path. Moreover, the SSI SCHAEFER Group received numerous awards for its intralogistics solutions last year, most recently the prestigious Best of Industry Award in the “Conveyor Technology” category.
In addition, SSI SCHAEFER continued to consistently implement its sustainability strategy in 2023 and documented its responsibility to the environment and society in its second sustainability report. Key actions included the adoption of the Group's climate strategy, which aims to reduce the Group's own carbon footprint and make a social contribution to achieving global climate targets and the United Nations' sustainability goals.
