Business figures 2018
Jumo continues to grow
Jumo, based in Fulda, was also able to benefit from global growth trends in 2018. Consolidated turnover increased by 14 million euros. However, global risks are dampening expectations for 2019.
"We are very satisfied with the last financial year. The growth trend from the previous year has continued and we were able to increase our turnover from 234 million euros in 2017 to 248 million euros. This means that our consolidated turnover has grown by 39% since 2008," explains Bernhard Juchheim, Managing Partner of the Jumo Group. "With an increase of six percent, we have grown against the industry trend, as the turnover of the entire German electrical industry only increased by 2.6 percent in 2018, according to the industry association ZVEI," adds Michael Juchheim, who manages the company together with his father as Managing Partner.
Jumo Germany was able to increase the previous year's turnover by six percent to 178 million euros. Domestic growth amounted to four percent, while exports increased by seven percent. The company's export ratio remained stable at 54 percent. This is around two percent more than the industry average in Germany.
Thanks to the solid financial situation and good liquidity, investments of 10.2 million euros were made in machines, systems and tools worldwide in 2018. In 2019, this sum will be significantly higher due to extensive expansion and relocation measures.
Jumo continues to expand its workforce. At the end of 2018, the Group employed 2,328 people worldwide. At the Fulda site and in the German subsidiaries, 1,401 people were employed, including 108 trainees, and 927 employees in the foreign subsidiaries. Last year, 40 new trainees and annual interns were taken on. The number of employees in the entire group of companies has risen by 40 percent in the last ten years.
Prospects for 2019
German gross domestic product grew by 1.5% in 2018. The forecast for 2019 is only one percent. The German electrical industry is anticipating identical sector growth, and Jumo has clearly committed to an above-average growth target and plans to increase turnover by four percent to 258 million euros in 2019. Nevertheless, Jumo anticipates slightly lower company growth than in the previous year due to the global economic risks. as
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