Industry News

Thanks to Böllhoff Group’s broad product range and international orientation, it was able to achieve an annual turnover of €809 million in 2023 – representing an increase of around 3.3% over the previous year (2022: €783 million).

Michael W Böllhoff, co-CEO at Böllhoff Group, comments: “Despite difficult market conditions worldwide, we were able to achieve moderate growth for our group of companies. This is essentially due to our broad product and service portfolio, as well as our international company network – with our own locations in 26 countries on 5 continents.”

Co-CEO Wilhelm A Böllhoff adds: “It is especially noteworthy that Germany did not contribute to this growth. There is a pressing need for improvements of the much discussed framework conditions in our country, as well a need for more courage, confidence and trust in our own and overall economic strength, also when it comes to creating innovations.”

In 2023, the most important drivers of growth for Böllhoff Group’s sales were India, Mexico and Turkey. For the first time in many years, China did not contribute to growth, largely due to currency impacts.

Growth in the aviation sector

Looking at Böllhoff’s individual customer groups, past investments in the expansion of the aviation business had a particularly positive effect. Since 2021, the Group has acquired two French manufacturers of special fasteners for aerospace – SNEP SA based in Montbrison, in June 2021, and Gillis Aerospace from Dieupentale, in June 2022.

Demand from the automotive industry, however, remained subdued, characterised by uncertainty in view of the ongoing structural changes in the industry.

Outlook for 2024

Böllhoff Group underlines that the outlook for 2024 is difficult and uncertainty remains high. Many markets are in transition and companies in Böllhoff Group’s customer segments are reducing capacity in some cases or relocating them to other countries.

“We are therefore continuing to work on improving our productivity and processes, in order to remain an all round competent partner for joining technology for our customers,” says Michael W Böllhoff. 

“We are also continuing to invest in the company, despite the difficult overall economic conditions – in 2024 this means topics related to digitalisation, as well as in the training and further education of our employees,” adds Wilhelm A Böllhoff.