Oechsler Group reports 2021 financial results and key automotive MIM order
June 20, 2022
The Oechsler Group, headquartered in Ansbach, Germany, has announced its results for the financial year 2021, seeing a significant impact of the COVID-19 pandemic and rising raw material prices. Group sales decreased slightly by 2.4% to €369 million (2020: €378 million), however, despite this, the group states that it is satisfied with its 2021 results, having made further progress in expanding Additive Manufacturing as a second production technology alongside precision polymer injection moulding. Growth was also provided by a new key order from a leading automotive supplier for the series production of components using Metal Injection Moulding.
The group operates Automotive, Sporting Goods, and Innovative Solutions divisions at three German and seven production sites globally. In the past year, its Automotive segment saw the a sales increase of 10% to €257 million. Under this segment, Oechsler primarily produces electronic parking brakes (EPB) and assistance systems for autonomous driving. The group states that it is expanding its material portfolio beyond polymers and ceramics in order to implement MIM.
Oechsler achieved growth in the Innovative Solutions business unit with sales increased by 14% to €41 million. The increasing demand for components used in solar systems is driving this positive development. Sales of the Sporting Goods business unit declined by 35% to €71 million compared to 2020. The reason for this decrease was attributed to the COVID-19-related lockdown in Southeast Asia in the third quarter, as a result of which Oechsler had to close its production site in Long An, Vietnam for two months.
In 2020, the group expanded its portfolio in toolmaking and can now additively manufacture metal tool elements. The group has extensive polymer AM capabilities and emphasised the importance of Additive Manufacturing within the Oechsler Group, which has been steadily increasing in recent years. The share of the product portfolio in group sales continues to be over 10%.
For 2022, Oechsler is planning total investments of around €55 million, of which the company has already invested €20 million in the first quarter. The group plans to continue its investment in its Additive Manufacturing offering as well as its projects to reduce CO2 emissions. Oechsler sees relevant growth opportunities in the healthcare market in the future.
Dr Claudius M. Kozlik, Chief Executive Officer of Oechsler AG, commented, “The level of CO2 emissions has become a key performance indicator for Oechsler. The emissions per manufactured component play an increasingly decisive role in the competition for large orders. In addition to our social responsibility, the reduction of greenhouse gases is thus becoming increasingly important for Oechsler’s business success. We are satisfied with the course of our financial year 2021 in view of the numerous global crises. Thanks to our diversified customer portfolio as well as our broad geographic presence in Europe, Asia and the North American Free Trade Area USMCA, our sales remained stable in 2021. As early as 2022, we expect Group sales to rise again and see considerable growth opportunities in the medium term – especially due to promising new projects in 3D printing.”
