As of: March 14, 2024, 6:50 p.m
By: Volker Ufertinger
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Difficult times: The 2023 financial year was so disappointing for the Stockdorf-based automotive supplier Webasto that jobs had to be cut.
© dpa
Business is going badly for the Stockdorf-based automotive supplier Webasto.
According to the company, job cuts are “probably unavoidable.”
Stockdorf
- The automotive supplier Webasto does not have any good figures to announce for the 2023 financial year: “According to preliminary and as yet unaudited figures, sales increased to almost 4.6 billion euros, but profit before interest and taxes was only slightly at around 20 million euros in positive territory,” said a press release sent out by the company on Wednesday.
“This is disappointing and forces us to take action.”
For this reason, a broad-based program was launched to sustainably improve the company's results and secure the future.
The press release shows that everything is being put to the test.
“We are currently reviewing our capacities and structures in all regions and areas with regard to unused optimization potential.”
This also includes the staff.
“A double-digit percentage job cut is probably unavoidable,” explains Dr.
Holger Engelmann, CEO of Webasto SE.
The company has locations worldwide, several in Germany, in addition to the headquarters in Stockdorf and also in Gilching.
There are currently 1,900 employees working in the Starnberg district.
There will be concrete figures in a few weeks
“We will probably complete the analysis phase in a few weeks and then inform our employees about the specific measures,” the company said when asked.
They have already been informed about the planned job cuts in coordination with the works council.
According to the company, more than one billion euros have been invested in further development in recent years and the traditional business with roof systems has been consistently aligned with new mobility trends.
“The impact of these future investments on our financial statements was well calculated, and today we are very well positioned with our expanded product portfolio,” says Engelmann.
Company complains about general conditions
However, the general conditions for automotive suppliers will have deteriorated further in 2023.
These include “significant fluctuations in demand, increased cost pressure, inflationary effects, disruptions in the supply chain and weak development in many markets”.
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In view of the economic downturn in some regions, Webasto had already adjusted capacities in the course of 2023, including in China, and decided to freeze hiring worldwide until further notice in the fall.
At the end of 2023, the number of employees was around 16,600, slightly below the previous year for the first time in years (2022: 16,800).
After a clearer focus on the roof and electrification areas, combined with a changed product strategy in the area of electromobility, Webasto also sold the majority of its charging solutions business at the beginning of this year.
Also read: Schober Foundation acquires Stockdorfer “Al Castagno”
According to the company, the automotive supply industry as a whole is in an extremely tense situation.
It also represents a major challenge for Webasto to continue to advance its advanced transformation in times of global crises.
The company is preparing for the fact that many external factors will continue to hinder its business development.
“In order to be able to develop innovative and sustainable solutions for the mobility of today and tomorrow and at the same time remain sustainably competitive, Webasto must position itself to be more financially resilient,” says Engelmann.
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