Altensteig. "In 2015 we once again made some crucial progress. The Boysen Group's performance and results are above expectations", says CEO Rolf Geisel. For the last financial year, the exhaust technology specialist, based at Altensteig in Baden-Württemberg, recorded a turnover of 1.46 billion Euro - achieved with around 3,300 employees at 17 sites worldwide.
"Within just two years, we have increased turnover by 43 percent and headcount by 50 percent", says Geisel, comparing the latest figures with 2013, when the group of companies had 2,200 employees and a turnover of 1.02 billion Euro. At the same time. 2013 was the height of the growth strategy that saw the company expand from 10 to 17 sites. "We made massive investments. And now we are seeing that this up-front expenditure is having the desired impact", says the Boysen CEO, reflecting on the new contracts from major customers in the automotive sector. As examples from 2015 he cites the successful start of series production of exhaust technology for the Audi A4, the BMW 3 Series (revised model) and 7 Series and the GLC and E Class from Mercedes Benz.
Rolf Geisel is particularly pleased that "we have managed to further increase both productivity and profits in almost all our plants". In line with tradition the foundation company does not reveal specific profit details, but Geisel summarises: "Profits are better than 2014 and better than originally forecast for 2015." However, there is still plenty of work to do. "We are heading in the right direction, but we are a long way from reaching the point where our investments in recent years are in the right ratio to our results. As a result, in 2016 we have to continue making all our processes even faster and also better, in order to maintain our competitiveness. If we can do that, I am convinced that the extremely positive development of the Boysen Group will continue this year."
Another "extremely positive development for Boysen" identified by the CEO is the fact that around half of the 1,100 new jobs in the previous two years have been created in the high-way country of Germany, 200 of them at the four sites in the company's home district of Calw. "In view of the general industry trend to relocate jobs to low wage countries, this is absolutely extraordinary."
Because of the many successes to report, it is easy for Rolf Geisel to deal with the fact that the turnover target of 1.5 billion Euro that he set for 2015 was missed, "only due to the fact that the prices of the precious metals used in our products fell in the fourth quarter, in some cases by up to 25 percent".
Looking ahead to 2016, the Boysen CEO is optimistic: "We will see a significant further increase in turnover - according to current forecasts to over 1.6 billion Euro. In the coming years we will also be investing around 30 million Euro in our first Mexican plant, which we will be building in San Luis Potosí starting this summer. Everything points towards further growth." Nevertheless, there are some factors causing uncertainty, in terms of the global political situation and the current burning issues in the automotive sector. "There are lots of things that we can't predict yet. They include the impact that the manipulated emission figures scandal could have on the whole of diesel technology. Of course, our cleaning systems have a broad presence in this area and we would be able to immediately detect any falls in orders."
This is even more reason for Geisel to hope that this year will be the one when Boysen makes its major breakthrough in its still relatively new business area of commercial vehicles. The exhaust technology specialist has already won the development contract for a major truck project and has invested heavily in the required capacity at the second development site in Nagold to handle it. "Within two years, we have built up a development team of 70 engineers using state of the art testing facilities specially designed for commercial vehicles. These facilities include a roller dynamometer, an engine test rig with acoustics room, a multi-axle test rig and a 3D printer for time-saving production of prototypes. But this expenditure will only really pay off if we win the contract for series production when the development work is complete." This decision will be made in the second quarter.
***
The Boysen Group develops and produces manifolds, diesel particulate filters, silencers, trims and complete exhaust systems for cars, commercial vehicles and off-highway applications. In addition to its three main customers Audi, BMW and Daimler, the exhaust technology specialist works for the German car manufacturers Volkswagen and Porsche, the British manufacturers Bentley and Rolls Royce, the commercial vehicle manufacturers MAN and Daimler, and for Krauss Mafffei, mtu, Voith and others in the off-highway sector.
The Boysen Group currently employs around 3,300 people at 17 domestic and international sites. In addition to the development sites in Altensteig and Nagold, Boysen has production sites in Altensteig, Simmersfeld, Salching, Ingolstadt, Plauen and Achim, and also in France, Egypt, South Africa, India, China and the USA.
***
In case of any queries, 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
Free for publication - please send copy
