The HARTING Technology Group reported sales of €940 million for the 2023/24 financial year, falling just short of the €1 billion mark and down 9.2% from the previous year’s €1.036 billion. Despite this decline, the company outperformed market expectations in a tough economic environment, according to CEO Philip Harting at the annual press conference.
HARTING’s global strategy helped mitigate weak domestic performance. Sales in the Americas and Asia regions remained steady, recording €155 million (-3%) and €240 million (-2%), respectively. However, the EMEA region (excluding Germany) saw a 9% drop to €323 million, while Germany itself faced a significant 20% decrease to €222 million.
Commenting on the economic climate, Philip Harting pointed to structural challenges in Germany, including high energy costs, bureaucracy, and a lack of investment-friendly policies, which have affected the broader European economy. He called for decisive measures from the government to address these issues and support SMEs.
HARTING’s €69 million investment in new technologies, automation, capacity expansion, and digitalisation underscores its commitment to internationalisation as a key growth driver. Notable developments include plant expansions in Poland, Mexico, and the USA, as well as the establishment of an R&D office in Hanoi, Vietnam, alongside the launch of production facilities in the region.
The company is also laying the groundwork for its new global headquarters in Switzerland, set to open by October 2025. This move aligns with HARTING’s strategy to strengthen its global competitiveness while maintaining a strong presence in Germany, where it continues to invest in digitalisation and sustainability initiatives.
Sustainability remains a priority for HARTING, both in its products and operations. The company has already surpassed its 2027 decarbonisation targets, achieving a 60% reduction in CO2 emissions and progressing toward its goal of climate neutrality by 2030. Investments in green energy and bio-based connectors highlight this commitment.
On the innovation front, HARTING is driving advancements in connectivity solutions essential for the All Electric Society, a vision of a fully electrified and sustainable future. Key developments include weight-optimized connectors for railway technology and power transmission interfaces for electrified agricultural vehicles, alongside solutions for energy distribution, Industrial Ethernet, and data centers.
Despite ongoing economic uncertainty, HARTING anticipates a return to growth, forecasting a 6-9% increase in sales for the 2024/25 financial year. The company’s medium-term strategy focuses on strengthening its international presence and sustaining innovation to adapt to evolving market demands.
HARTING remains a global leader in industrial connectivity, serving diverse sectors such as transportation, renewable energy, and automation. With over 6,000 employees worldwide, the family-owned business continues to shape the future of industrial connectivity.
