The Group’s global sales revenue for fiscal year 2023 amounted to 1.37 billion euros, an increase of 2.2%, and the third consecutive year of growth.

“Given the challenging economic situation in Germany and the slow growth of the global economy, we are very pleased with the positive development of the company,” said Dr. Heiner Lang, CEO of Vanco, commenting on the 2023 balance sheet.

DECS-200-2L Dr. Heiner Lang, CEO of Vanco Group

Despite a marked slowdown in economic growth and a corresponding decline in orders, revenues continued to grow. With its products, systems and solutions in electrical connectivity and automated control technology, vanco covers a wide range of market segments and applications. Chief Financial Officer Jurgen Koopsingraven said: “The energy and transportation transition, as well as plant investments and capacity expansion, had a positive impact on the Vanco Group’s total revenue in 2023.”

The share of sales in Germany increased to 29.3%, so Germany remains the largest market for vanco. The rest of Europe accounted for 42.9% of sales, and the rest of the world market accounted for 27.8%. As in previous years, the electrical connection business accounted for the largest share and continues to grow. The strongest relative growth was in the Solutions business unit.

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The Wanco Group has a dedicated team of around 9,000 employees, and a strong workforce is a key success factor in its development. About 4,300 of these employees work in Germany, of which about 1,000 are based in Sandshausen in Thuringia. Training has always been key to ensuring the supply of highly qualified staff, and at the state-of-the-art training centre at the Minden headquarters, 224 interns and students are currently starting their careers.

The scale of Vanco’s investment of 157 million euros is unprecedented

In addition to the financial resources for training facilities, vanco invested 157 million euros last year, a large part of which was used to expand its production and logistics facilities. The huge sum underlines the company’s determination to invest in its future. “We are expanding to lay the foundation for sustainable international growth,” explains Chief Financial Officer Jurgen Koopsingraven. Last year, 60% of the investment DECS-200-2L went to the Minden headquarters and the Thuringia plant; The new “WAVE24” logistics centre in Sandshausen, Thuringia alone cost €22 million. Jurgen Koopsingraven said: “The centre will be operational by the end of this year. This will significantly improve the availability and delivery of products in line with customer expectations.”

Wanker’s growth strategy also includes expanding its presence in Europe and investing in international markets. For example, the company has expanded production and invested in manufacturing facilities in China, Poland, India and Mexico. At the same time, it is expanding the production capacity of its Domdidier plant in Switzerland, where a new plastic injection molding plant will be inaugurated by the end of 2025. The plant’s main focus is on energy-efficient, resource-efficient production. In addition, Vanco has invested in the new Vanco UK and Ireland headquarters in Houlton Rugby. Equipped with a state-of-the-art building management system, the project covers 5,900 square meters of office and production space. Construction is expected to be completed by the end of 2024.