Engel reports 6 percent decline for fiscal year
The ENGEL Group concluded the fiscal year with a slight decline in turnover of approx. -6% compared to the previous year. “The volume in the injection molding machine market has fallen by up to -40% according to various association figures. ENGEL has succeeded in gaining shares in a shrinking market – a trend consistent with observations from previous economic contractions,” comments Stefan Engleder, CEO of the ENGEL Group, on the turnover of around 1.6 billion EUR. The Business Units Medical and Packaging made a significant contribution to this development. Demand for the production of diabetes therapy products remains high, especially in the American region, while the packaging industry is experiencing a boom in Europe due to new regulations. The after-sales business also manifested positive growth, with a surge of almost +15% compared to the previous year.
Read More