24.02.2023 – Boysen Group surpasses the three billion turnover mark

CEO Rolf Geisel reports renewed growth in turnover and successful course set in the course of technological transformation

Altensteig. With renewed growth and the first leap over the three billion euro turnover mark, the Boysen Group, based in Altensteig (Baden-Württemberg), has braved the many crisis scenarios of the year 2022. A milestone was also set in the course of the technological transformation with the winning of a major contract for the production of battery housings. 

As CEO Rolf Geisel announced, turnover in the past financial year was 3.3 billion euros - about 17 per cent above the previous year's figure of 2.83 billion euros. 

Geisel explained the continued positive development in the core business of exhaust technology with the ramp-ups at the new production sites in Subotica in northern Serbia, Shenyang in China and Spartanburg in the USA. In the course of this expansion to now 27 locations worldwide, investments in 2022 were almost 10 per cent above the previous year's level at 80 million euros. The number of employees remained virtually unchanged at 5,200.

Before the end of this year, the Boysen Group will commission another new production plant for commercial vehicle exhaust technology in Tianjin, bringing the number of locations in the permanent growth market of China to four. With the associated and further new orders, Geisel is planning for a renewed increase in sales to 3.5 billion euros in 2023.

"Our strategy of continuing to grow with first-class development work and first-class products in exhaust technology in order to be able to invest massively in new business fields on a strong basis has borne fruit even in the major crisis year of 2022 thanks to enormous efforts. We were faced with major challenges almost daily due to supply bottlenecks, rising raw material prices and rapid plant closures. It is all the more remarkable that we have once again achieved our goals," says Geisel, who adds: "In order to meet the challenges of the transformation and to preserve the jobs at Boysen in the long term, we are assuming a required investment volume of 1.5 billion euros for the next ten years." 

Boysen plans to invest 180 million euros of this in the current financial year - another record figure in the company's more than 100-year history. Geisel has actively accompanied 50 years of this history, and since 1985 he has been responsible as managing director for an almost continuous growth record. In 2013, he brought the Boysen Group into the circle of billionaires in turnover, and in 2019, for the first time, it exceeded two billion euros.

He is particularly looking forward to an investment in the future: "The highlight of 2022 was when BMW awarded us the contract for the production of battery housings in Hungary. We fought hard for this major contract, which will secure us annual sales growth in the triple-digit millions from 2025 onwards. Associated with this is the construction of our largest foreign plant to date in Nyíregyháza. It will be the first Boysen plant in which we do not manufacture exhaust technology, but produce exclusively for e-mobility." 

For Geisel, this is a decisive transformation step: "This major order shows that the Boysen Group is being taken seriously in this future market. Which in turn gives us hope that we will be able to hold our own in the tough competition for further battery housing volumes."

In addition to new product groups such as battery housings, electronic components and control elements, Gei-sel is focusing primarily on energy technology. Last October, the construction of Boysen's own development centre for hydrogen technologies was started in Simmersfeld with a total investment of 40 million euros. "Among other things, we will put a hydrogen filling station for 350 and 700 bar into operation there from 2024 and promote the production of green hydrogen via an electrolyser with a capacity of one megawatt. In addition, we are pushing ahead with the development of hydrogen fuelling systems for heavy commercial vehicles at the Nagold site and are a partner in the new company Iontrak, which will equip heavy trucks with hydrogen engines and sell them under its own brand name.

The positive news of 2022 is completed by the Dortmund subsidiary Volterion, which specialises in redox flow battery systems: the stacks developed by Volterion, which form the heart of a redox flow battery, have been present in the new Prolux brand home storage systems since the middle of last year. 

The company leader's conclusion: "With a view to trans-formation, we are now going into the future with clear guidelines thanks to the latest advances, whereby the battery housing sector in particular still offers us a lot of room for improvement in terms of system completion and upgrade assembly. Not to mention that exhaust technology outside the EU will continue to open up sales potential for us well beyond 2035."

 

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The core business of the Boysen Group, headquartered in Altensteig (Baden-Württemberg), is the development and production of high-performance exhaust systems and components for passenger cars, commercial vehicles and off- highway applications. In addition to the three main customers Audi, BMW and Mercedes-Benz, the exhaust technology specialist works for the German car manufacturers Volkswagen and Porsche, the English brands Bentley and Rolls-Royce, the commercial vehicle manufacturers Daimler and MAN, and in the field of off-highway applications for Krauss Maffei, mtu, Voith and others

In the course of technological change within the automotive industry, Boysen is focusing not only on innovative exhaust technologies but also on new product groups that can be used in all vehicles - regardless of the type of drive. The foundation company sees another important component of its future strategy in the field of energy technology, with a particular focus on topics such as hydrogen, fuel cells and stationary energy storage.

The Boysen Group currently employs around 5,200 people at 27 sites in Germany and abroad. In addition to the development sites in Altensteig and Nagold, Boysen has production sites in Altensteig, Simmersfeld, Heubach, Salching, Ingolstadt, Plauen and Achim as well as in France, Egypt, South Africa, India, China, Mexico, Serbia, Romania and the USA.

 

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For further questions please contact:

Christian Grimm
Marketing Team Leader
BIN Boysen Innovationszentrum Nagold GmbH & Co. KG
Carl-Friedrich-Gauss-Str. 4
72202 Nagold
Tel. 07452/8408-200
Fax 07452/8408-8200
E-mail christian.grimm(at)bin.boysen-online.de

For publication free – proof requested

Boysen has 5300 employees worldwide

The Boysen Group's turnover has risen to
3.36 billion Euro

Since 2024 the Boysen Group operates at
28 locations worldwide