Altensteig, 23rd July 2012 - The Boysen Group had its second successive record year in 2011. The medium-sized automotive supplier's accounts for the past year show its best ever figures for turnover, investment and headcount. This was announced by CEO Rolf Geisel on Monday in Altensteig.
In 2011, the Boysen Group's turnover increased by 24 percent to 969 million Euro (previous year 781 million Euro). Total investment was 85 million Euro - a rise of 75 percent on the previous year (48.5 million Euro). The number of employees rose to 1900, also a best ever figure (previous year 1800, +5.5%). The foundation company has not published its profit figures.
"For years, vehicle manufacturers' pricing has made it extremely difficult for us suppliers to make profits", said Geisel. Measured against the performance demanded, it is a long way away from what you could really call a reasonable return. However, Boysen's profits are towards the upper end in its industry. "The pleasing thing about our 2011 accounts is that we have managed to improve our profit on the previous year", Geisel said.
In view of the record figures for turnover, investment and headcount, Rolf Geisel is very satisfied with the company's overall development. "We have doubled our turnover since 2006 and increased the number of jobs in the group by 40 percent", Geisel emphasised. "Business has not got any easier in recent years, but we are heading in the right direction." However, the CEO only expects turnover to rise by around one percent this year, to around 980 million Euro. Investment is set to increase to 120 million Euro. The headcount is expected to rise to 1950.
Looking at the low growth in turnover, Geisel said: "The raw figures portray a false picture. We are actually working flat out again in 2012." However, falling precious metal prices in the current financial year alone have led to a 40 million Euro decline in turnover. These are purely "book losses" - catalytic converters and particulate filters coated with platinum, rhodium and palladium are only transitory items in the Boysen accounts. "It has nothing at all to do with our turnover from value creation activities", Geisel says. "In terms of value creation we will see a rise of around five percent in 2012."
The Boysen CEO expects turnover to pass the one billion Euro mark in 2013. The main impetus for this growth is expected to come from the start of production of exhaust technology for commercial vehicles.
Boysen has set itself ambitious targets for the medium and long term. At the beginning of 2012, production began at the new Turmfeld plant, designed to be a CO2 neutral factory. In May, construction work began on the new Boysen exhaust system plant in Achim (BAA), which will start production in March 2013. By 2014, the automotive supplier wants to open four further production sites. The new plants in Tuscaloosa (USA), East London (South Africa) and Beijing (China) will be joined by a new plan in Ingolstadt. Within two years, Boysen is aiming to be producing complete exhaust systems for Audi at the site. The project is expected to create between 50 and 70 new jobs. "Planning, building and setting up five plants within 24 months and integrating them into our production network is a huge challenge for us", said Rolf Geisel. However, he believes the medium-sized company has no alternative but to pursue its growth strategy.
"In 2015, our turnover will be 1.5 billion Euro", predicted the Boysen CEO, Rolf Geisel. By then, the company will have moved into new business areas. There are interesting prospects in the energy sector, for example. Numerous concepts are currently under discussion, but none of them are sufficiently advanced to announce yet. But there is no doubt that the core business area of exhaust technology will remain the main source of turnover until well beyond the end of the decade. Geisel says: "I expect exhaust technology to remain the focus of our company's growth for the next 30 years." Boysen will more than compensate for foreseeable declines in car business due to advances in electromobility by growth in exhaust technology for commercial vehicles and off-highway applications.
Boysen develops and produces manifolds, catalytic converters, diesel particulate filters, silencers and complete exhaust systems for cars, commercial vehicles and off-highway applications. The company's major customers include the German vehicle manufacturers Audi, BMW, Daimler, Porsche and VW, the English brands Bentley and Rolls Royce and the commercial vehicle manufacturer MAN.
The group of companies currently employs around 1900 people at ten domestic and international sites. In addition to the development and administration centre and the production plant in Altensteig, Boysen has production sites in Simmersfeld, Salching and Plauen, and also in France, Egypt, India, China and the USA.
In case of any queries, please contact:
Martin Stuka
Press and Public Relations
Friedrich Boysen GmbH & Co. KG
Friedrich-Boysen-Straße 14-17
72213 Altensteig
Tel. 07453/20-274
Fax 07453/20-4274
E-mail martin.stuka(at)boysen-online.de
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