Business development Group & Divisions
In financial year 2023, Phoenix Mecano was able to sustain its sales despite divestments and boost its profitability in continuing operations. The DewertOkin Technology Group division achieved a turnaround.
The Group’s most important industrial market, Germany, was in poor shape at the end of the year and the private sector’s willingness to invest remained correspondingly low. However, despite considerable economic headwinds, the Phoenix Mecano Group performed positively in 2023. Thanks to its strong decentralised organisation, the Group was able to build on its strengths and benefit from its high level of agility. Organic growth was achieved in the core business. Return on investment and profitability showed further substantial improvements and net indebtedness was fully eliminated by the end of the year. The sale of the Rugged Computing business area freed up important resources to continue focusing on future growth markets in line with the megatrends of decarbonisation, automation and demographic change.
DewertOkin Technology Group
Thanks to an upturn in demand in the furniture market, the sharp slump of the previous year was partially offset by an increase in incoming orders (up 23.2 %) and sales (up 6.5 %). The division achieved an operating profit of EUR 7.2 million and thus a turnaround, despite the negative impact on earnings from a performance enhancement programme and digitalisation initiatives.
