Phoenix Contact sees growth
Focus on networking and automation
At SPS 2023, Ulrich Leidecker, Chief Operating Officer of Phoenix Contact, spoke about the company's economic development.
After two years of above-average growth, there have been significant declines in incoming orders since the second quarter of 2023. From today's perspective, Phoenix Contact will close the 2023 financial year with a decline in sales of around 2 percent compared to the previous year and total sales of EUR 3.5 billion. Leidecker does not expect a sustained economic recovery until the second half of 2024. The company, which has almost 22,000 employees, celebrated its 100th anniversary in 2023. In order to prepare for growth in the medium to long term, investments of around one billion euros are planned over the next five years.
This article appeared in issue 12/23
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