Automation
Festo sees good growth opportunities
After years of strong growth, 2023 was a year of consolidation for Festo. Turnover was just below the previous year's level (-4.3% to around 3.65 billion euros). The company continued to invest heavily in research and development and the expansion of regional market supply. Festo sees good opportunities for growth again in the medium term.
Uncertainty in the global economy put the brakes on higher investments by customers in mechanical and plant engineering in almost all sectors and regions, particularly in Asia and North America. The electronics industry also stuttered temporarily in 2023 after a prolonged boom phase. The digital business and the technical education sector with the Didactic division developed positively. Festo invested 7.7% of its turnover in R&D last year. Festo aims to set standards in industrial automation technology and technical education and contributes to the sustainable development of the environment, economy and society. Festo has anchored this holistic claim in its BlueWorld approach and will be presenting its trade fair highlights.
Sustainability and the climate-friendly transformation of manufacturing are becoming the most important tasks along the entire value chain. "With our broad technological positioning in pneumatic and electrical automation technology and the training of specialists, we can provide our customers with comprehensive support in the industrial transformation. We will continue to grow and open up new markets with a focus on sustainability, digitalization and AI," says CEO Thomas Böck.
Hall 7, Stand D31
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