Despite a challenging 2024 financial year marked by declining revenues across all divisions, the Eberspaecher Group continues to make decisive strides in its transformation journey. The company is expanding into new business areas, delivering substantial operational improvements, and reinforcing its commitment to manufacturing excellence.
Eberspaecher reflects on the 2024 financial year with caution. The Group was adversely affected by global uncertainties and a slowdown in international industrial production, particularly in the second half of the year. All divisions faced headwinds, and demand for e-mobility products fell significantly short of expectations.
Consolidated revenue decreased by 16.0% to EUR 5,333.2 million (previous year: EUR 6,349.0 million). Adjusted for transitory items such as monoliths*, net revenue declined by 9.0% to EUR 2,731.7 million. This reduction resulted from shifts in the product mix, a lower share of transitory items, and declining precious metal prices.
Despite lower revenues, the purely operating result (adjusted for extraordinary items and one-off transformation expenses) rose sharply to EUR 114.1 million, up from EUR 58.0 million in the previous year. This robust improvement was driven by rigorous cost-cutting and restructuring initiatives, alongside a consistent focus on manufacturing excellence across global sites.
The Group employs approximately 10,680 people in over 30 countries, with around 3,600 employees based in Germany.
Outlook
“We are continuing to pursue our strategy of technological openness,” emphasizes Martin Peters, Chairman of the Executive Board / Managing Partner, Eberspaecher. He adds: “At our core, we are a technology provider. We leverage our expertise to enter new business areas, including sectors beyond the automotive industry. This approach creates opportunities for long-term success in evolving market conditions.”
Among these new avenues are hydrogen-related activities. To support increased hydrogen availability, Purem by Eberspaecher has developed a concept for the industrial production of high-temperature electrolyzers in strategic partnership with Topsoe. In early June, the Group’s exhaust and acoustics division delivered the first two four-tonne units to the Danish technology company.
Looking ahead, the current financial year remains challenging amid high market volatility. “Our priority is to maintain maximum flexibility, while enhancing efficiency and competitiveness in our core business,” concludes Martin Peters. “The transformation measures we have implemented in recent years are clearly delivering results.”
