KERN-LIEBERS demonstrates resilience in a challenging fiscal year
At the end of June, a demanding fiscal year concluded for the KERN-LIEBERS Group, which demonstrated the remarkable resilience of the company. The company was able to increase its revenue to 787 million euros, a growth of approximately 5% compared to the previous year (752 million euros). It should be noted that this increase in revenue is mainly due to inflationary effects and successful price adjustments.
Dr. Erek Speckert, CEO of the KERN-LIEBERS Group, commented, "Despite the persistently unfavorable global economic situation and a recession in our key market Germany, we were able to expand our market position in many segments. Furthermore, through strict inventory and cash management, we have further strengthened the financial stability of the company."
He added, "This stability is essential to cope with the increasing pressure to adapt due to the transition from combustion engines to electric drives in many areas of KERN-LIEBERS. Hence, we will continue our strategy of modernization and consolidation to ensure that the company becomes future-proof."
As part of the strategic realignment, KERN-LIEBERS has divested its shares in the two joint ventures with Brand Company in China and Mexico as of June 30, 2023, selling them to the partner company. Udo von Reinersdorff, CFO of the KERN-LIEBERS Group emphasized the reasons for this move, stating, "Considering the complete dependency of the two joint ventures on combustion engine technology, this step represents an important step in significantly reducing our dependence on this technology."
In the past fiscal year, the KERN-LIEBERS group invested 28 million euros in new projects and the acquisition of machinery, accounting for 3.5% of the total revenue. The main focus continues to be on investments in future technologies, such as electrification.
In light of the geopolitical uncertainties and ongoing cost increases, KERN-LIEBERS does not provide a forecast for the upcoming fiscal year.
Currently, the KERN-LIEBERS Group has a global workforce of 6,810 employees, including 3,120 in Germany and 1,120 at the headquarters in Schramberg-Sulgen.