Böllhoff Group reported 2018 consolidated sales of €651.6 million, a 5.15% increase over 2017 and its ninth year of consecutive growth. The Group also reported record levels of investment, increasing more than 50% to €65.1 million.
Recording its 142nd year in business, independence has always been the cornerstone for the Böllhoff company, now in its fourth generation of family ownership and management.
Wilhelm A. Böllhoff (pictured right) is responsible for fastener service supply, human resources and quality management. His managing partner, Michael W. Böllhoff (pictured left), is in charge of fastening and assembly technology as well as production. Of the two other members of the management, Dr Jens Bunte is responsible for research and development, application technology and intellectual property worldwide. Finance, controlling, legal affairs and IT are managed by Dr Carsten Löffler.
The Group comprises 45 companies, with 39 locations in 24 countries – including 13 production facilities. At the end of 2018 the Group employed 3,046 people, 254 more than at the end of 2017. Some 1,500 are employed in Germany.
Sales of €312.5 million - close to 48% of the Group total – were generated in Germany, reflecting a 4.8% year-on-year growth. A further €203.8 million (31%) came from the remainder of Europe, increasing 2.6%. Sales in the Americas were €75.5 million, increasing 4.1% - benefiting, Böllhoff notes “from the gentle tailwind behind the South American economy”. Sales in Asia totalled €59.9 million, contributing just over 9% of the Group total, but increasing year-on-year by more than 17%.
By sector, 58.4% of Böllhoff sales emanated from the automotive sector, 39.4% from other industries and 1.2% from the aerospace sector.
Noting that the Group had achieved nine consecutive years of sales growth, the Böllhoff management, said “we are now seeing signs of a consolidation phase for the first time”. They attributed this, less to the economic cycles of Germany, “but rather to influencing factors involving geopolitics and European policy”.
Despite such imponderables the management says it remains optimistic as regards the years to come. The full 2018 report highlights investments into the infrastructure of buildings, machinery and IT, totalling €65 million in 2018. These address bottlenecks throughout the Böllhoff value-added chain, the consequence of nine years of steady growth. Many of the projects are scheduled for completion in 2019 or 2020.
The Böllhoff management concludes: “We feel confident that we are perfectly equipped to deal with the requirements of the market, both now and in the future.”
Full report available here
Having held senior management roles in leading automotive and fastener businesses, Phil joined Fastener + Fixing Magazine as editor in 2002. Convinced there is no substitute for ‘being there’, over 15 years of visits and interviews around the world means he has accumulated an extraordinary knowledge and perspective of the global fastener industry, reflected in his incisive and thought provoking reporting.