REVIEW OF 2023
“We are satisfied with our sales performance in 2023, as we have held our own in a difficult market environment,” says CEO Stephan Itter. “Our focus remains on the consistent transformation of our business units, with customer and market orientation always taking center stage.”
To increase the competitiveness of the German production sites, targeted measures have been taken to improve efficiency and productivity, particularly through digitalization and automation. Investments in the latest technologies and Industry 4.0 promote this development.
LÄPPLE AUTOMOTIVE successfully continued its growth path in 2023 and is well on the way to becoming a process-oriented module specialist, particularly at the Heilbronn site. The optimization of logistics and processes has led to a significantly more efficient material flow. A similar improvement is now being focused on for the Teublitz site.
For the first time in many years, LÄPPLE AUTOMOTIVE was able to score internationally again. A major order for the production of spare parts for an American electric vehicle manufacturer was won. This enabled the company to return to production in the USA in 2023. Spare parts production began in Alabama in September 2023.
In 2023, the FIBRO Standard Parts business unit appointed a new Managing Director, Steffen Schröder, and developed a new global strategy that is more closely aligned with customer needs. As part of the new strategy, the production sites in Germany, Italy and India are focusing more consistently on optimally supplying the various regions. FIBRO also differentiated itself as a system provider in the order picking sector in 2023 and improved the digital shopping experience for its customers.
FLT experienced a continued reluctance to place orders in all key markets in 2023 and was only able to win three important projects at the end of the year. However, this was the largest order intake in the company's history. In order to implement the projects profitably, FLT must continue to work on structural and organizational changes as well as improvements in project processing and the cost structure. FLT's development activities focused on expanding its expertise in the field of electromobility.
As part of a holistic sustainability strategy, LÄPPLE is actively addressing key issues such as efficient supply chains, climate and environmental protection as well as sustainable energy generation and recycling. One example of our progress in the area of the circular economy is the ability to achieve complete closed-loop recycling at the Heilbronn site by 2023. Here, material waste is separated by type and processed for recycling, which makes a significant contribution to sustainability. FLT is also involved in a research project on the recycling of traction batteries.
CURRENT FINANCIAL YEAR 2024
The LÄPPLE Group is cautious for the current 2024 financial year and expects a stable sales trend.
“After the first half of the year, we are almost on target and that despite the ongoing macroeconomic challenges. This means we have made a solid start to 2024,” says Stephan Itter. “We are sticking to our clear transformation plan and will continue to make the necessary decisions this year to ensure the long-term future of our group of companies.”
In the first quarter of 2024, the LÄPPLE Group reorganized its financing and concluded a new syndicated loan agreement with its established banking partners. The company has thus secured its financing for the coming years.
At LÄPPLE AUTOMOTIVE, the focus is on further restructuring to become a process-oriented module specialist, particularly at the Teublitz site. In addition, the expansion of the new US site is being driven forward due to an additional order won for America in 2024. A strategy for the use of artificial intelligence in the company is being developed in collaboration with the AI Transfer+ funding initiative.
The new strategy will now be implemented in the FIBRO Standard Parts business unit and the measures will be rolled out in all markets. A particular focus will be on growth in the non-automotive sector.
FLT is concentrating on the profitable implementation of the major orders won and the international expansion of the product business.