The Freudenberg Group, amidst commemorating its 175th anniversary in 2024 announced that its operational profits and revenues for the fiscal year 2023 increased at a record rate.
Freudenberg’s revenues were €11,902.8 million, 1.3% more than €11,753.1 million in the year prior. Comparing the operational profit to the previous year’s €941.8 million, there was a notable increase of around 15 percent to €1,081.6 million.
Additionally, the profit margin increased from 8.0 percent to 9.1 percent in the prior year. Freudenberg Group credited adaptable problem-solving across several industries, creative product lines, and customer attention for its global expansion.
Freudenberg India Reports Strong Sales to Invest INR 350cr Across India
Freudenberg India reported notably strong sales of INR 3803 crore as well. The company reported strong operating results for 2023 and plans to invest about INR 350 crore in CY 2024 across sites in Tamil Nadu, Punjab, and Karnataka.
Freudenberg has invested in a new production facility in Morinda, India, for its joint venture Freudenberg-NOK India and its Vibracoustic Business Group. From India, the company exports goods worth about INR 800 crore.
The Freudenberg Group comprises eleven companies in the nation that operate in several categories including automotive, energy, chemical, technical textiles, and cleaning products. Freudenberg Performance Materials’ Managing Director, G. Sivasailam, was named by the group earlier in 2023 as the new Director and CEO of Freudenberg Regional Corporate Center India.
Georg Graf, who had held the position since the establishment of the Regional Corporate Center in 2016 was replaced by Mr. Sivasailam to support the organization’s ongoing expansion ambitions in India.
Commenting on the group’s annual results and its financial figures made public, Dr. Mohsen Sohi, CEO, Freudenberg Group, said, “Numerous records were set during fiscal year 2023. We achieved the highest figures ever for sales and operating profit. When we look back over the past 10 years, it becomes clear how impressive these figures are. Within a single decade, we have roughly doubled our sales and operating profit with an average annual growth rate of 6 and 7.7 percent, respectively. Our investments in research and development have grown by 9.4 percent annually, even more strongly and almost tripling. I would like to thank all our employees worldwide. Their commitment enabled us to achieve these historic results”.
“As Freudenberg commemorates 175 years of operations globally this year, it is indeed a proud moment for Freudenberg India to be part of the continued growth journey. Freudenberg Group has been committed to its growing operations in the country, across diverse domains and across the group companies. We are continuing to invest in the expansion of our facilities and 2024 promises to be another year of key milestones we will achieve in India” remarked Sivasailam.
Freudenberg Group Products CO2 Neutral Commitment in India
The Freudenberg Group’s products aims to become CO2-neutral by 2045 and are driving the energy transformation.
Freudenberg has sustainability as a top priority. For the business, this mostly means using its material and energy resources as smartly and efficiently as possible. By 2045, Freudenberg hopes to have zero CO2 emissions, mostly through electrification, energy conservation, purchasing, and the production of green electricity on-site confirmed its Freudenberg Group official release.
Keeping in mind the rapid urbanization of India, Freudenberg’s new initiative also aims to reduce carbon emissions footprint.
Freudenberg has been sourcing green electricity from photovoltaic and wind power systems for years, including from its own facilities. Around 20 new photovoltaic systems have been installed worldwide, with approximately 60 more in various planning and execution stages confirmed the official release.
