The HARTING Technology Group has once again surpassed the billion-euro mark for the second consecutive year, generating a turnover of €1,036 billion in the 2022/2023 financial year, a slight decrease of 2.2% from the record result of €1,059 billion in the previous financial year 2021/22. Philip Harting, CEO of the HARTING Technology Group, noted that this aligns with their forecast of a sideways movement after the preceding boom years.
Sales distribution across regions exhibited uneven patterns, reflecting increasing volatility and diverging geopolitical conditions. The Americas region experienced growth of €12 million (+9%) to reach €159 million, benefiting from economic policy incentives like the Inflation Reduction Act. In contrast, Asia contracted by €24 million (-9%) due to the current weakness in the Chinese market. Germany remained stable at €277 million (+2%), while EMEA (Europe excluding Germany) recorded a sales decline of €18 million (-5%) to €355 million. The headcount decreased by 241 employees from 6,446 to 6,205 as of September 30, 2023, primarily due to the sale of HARTING Systems (-160 employees) and the closure of companies in Russia (-61 employees).
The HARTING Technology Group, a prominent global player in industrial connectivity, employs approximately 6,200 individuals worldwide, operating in 44 sales companies, 15 production facilities, and six development sites. HARTING’s connectivity solutions play a crucial role in transmitting “data, signals, and power” across various industrial sectors, including transportation, electromobility, renewable energy production, automation, and mechanical engineering. In the business year 2022/23, this family-owned and managed company achieved a sales figure of EUR 1,036 million.
Philip Harting emphasized the company’s commitment to strengthening production, development activities, and organizational structures through investments of €76 million. This includes capacity increases in Romania (Agnita), a new e-mobility line in Mexico, and a recently inaugurated plant in Vietnam. Significant funds were also allocated to further digitalize and automate production and processes at their Espelkamp and Rahden sites. The company’s goals include positioning itself robustly and resiliently in the face of challenging economic conditions, high energy costs, and excessive regulation. The focus is on consistent automation, digitalization, reducing the cost of gas supplies, and ensuring long-term access to raw materials at competitive costs, laying the foundations for further growth, particularly outside of Germany.
Harting highlighted the opportunities for small and medium-sized electrical companies in Germany to contribute to the climate transition and sustainability through innovative solutions. The HARTING Technology Group is actively involved in developing and supplying connectivity for an all-electric society, contributing to a decarbonized world.
The war in Ukraine and the subsequent energy crisis have strengthened the company’s resolve to establish its energy and heat supply on an independent and climate-neutral basis. After relying on 100% green electricity for over ten years, the company is taking steps to become 100% independent of the gas grid by acquiring an additional biogas plant in Espelkamp, directly connected to production. This move aims to reduce the carbon footprint by 1,200 tonnes, involving a significant investment in the double-digit million range.
The Group’s ambitious targets include reducing CO2 emissions worldwide by 60% by 2027 and achieving climate neutrality by 2030. In alignment with these goals, HARTING is investing approximately €75 million in the 2023/24 financial year in developing new connectivity solutions for decarbonization, digitalization, and automation, along with structures, processes, and further global expansion through market- and region-specific development and production capacities.
Despite the company’s efforts to secure its future, Philip Harting anticipates clouded economic trends in the current financial year, with sales expected to fall slightly below the billion-euro mark due to a ten percent decrease in incoming orders. Planning for a high single-digit percentage decline, the company is implementing flexible production management and the selective use of short-time working to counteract these trends. Constant reviews of additional measures are underway in response to current developments. Despite the challenging situation and potential stagnation beyond 2024, Philip Harting remains optimistic about the long-term future, expressing the company’s vision to become a global entity with courage, consistency, and a great measure of hope.
