The LÄPPLE Group closed the 2023 financial year with total sales of €619.8 million. Despite the challenging macroeconomic situation, the family-owned company was thus able to increase its sales by 4.5% compared to the previous year. Earnings were impacted by the sale of the loss-making FIBRO Rotary Tables business unit as of 01.01.2024. In 2023, the LÄPPLE Group consistently developed the strategies in the individual business units and is increasingly focusing on customer proximity.
"We are satisfied with our sales development in 2023, because we held our ground well in a difficult market environment," says CEO Stephan Itter. "Our focus continues to be on the consistent transformation of our business units, with customer and market orientation always at the center."
REVIEW OF 2023 To
increase the competitiveness of the German production sites, targeted measures were taken to improve efficiency and productivity, especially through digitalization and automation. Investments in the latest technologies and Industry 4.0 promote this development.
LÄPPLE AUTOMOTIVE successfully continued its growth course in 2023 and is well on its way to becoming a process-oriented module specialist, especially at the Heilbronn site. The optimisation of logistics and processes has led to a much more efficient material flow. A comparable improvement is now being focused on for the Teublitz site.
For the first time in many years, LÄPPLE AUTOMOTIVE was able to score internationally again. A large order for the spare parts production of an American electric vehicle manufacturer was won. In 2023, for example, it was possible to re-enter production in the USA. In Alabama, spare parts production began in September 2023.
In 2023, the FIBRO Normalien business unit hired Steffen Schröder as its new Managing Director and developed a new, global strategy that is more closely aligned with customer needs. As part of the new strategy, the production sites in Germany, Italy and India are focusing more consistently on the optimal supply of the various regions. In 2023, FIBRO also differentiated itself as a system provider in the picking sector and improved the digital shopping experience of its customers.
FLT felt a continued reluctance to award contracts in all major markets in 2023 and was only able to win three important projects by the end of the year. This was the largest order intake in the company's history. In order to implement the projects profitably, FLT must continue to work on structural and organizational changes as well as improvements in project execution and cost structure. FLT's development activities focused on expanding competencies in the field of electromobility.
As part of a holistic strategy for sustainability, LÄPPLE actively addresses core issues such as efficient supply chains, climate and environmental protection, and sustainable energy generation and recycling. One example of our progress in the field of circular economy is the fully closed-loop recycling capability achieved at the Heilbronn site in 2023. Here, material waste is separated by type and processed for recycling, which makes a significant contribution to sustainability. FLT is also involved in a research project on the recycling of traction batteries.
CURRENT FINANCIAL YEAR 2024
"After the first half of the year, we are almost on track despite the ongoing macroeconomic challenges. This means that we have made a solid start to 2024," says Stephan Itter. "We are sticking to our clear transformation plan and are making the necessary decisions again this year to ensure the long-term future of our group of companies."
In the first quarter of 2024, the LÄPPLE Group restructured its financing and concluded a new syndicated loan agreement with its established banking partners. The company has thus secured its financing for the coming years.
At LÄPPLE AUTOMOTIVE, the focus is on further transformation into a process-oriented module specialist, especially at the Teublitz site. In addition, the expansion of the new US site will be driven forward due to an additional order won for America in 2024. In cooperation with the KI-Transfer+ funding initiative, a strategy for the use of artificial intelligence in companies is being developed.
The new strategy will now be implemented in the FIBRO Normalien business unit and the measures will be rolled out in all markets. A special focus is on growth in the non-automotive sector.
FLT is concentrating on the profitable implementation of the major orders it has won and the international expansion of its product business.