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CH-Wetzikon, February 28, 2023 – Despite geopolitical uncertainties and high inflation rates, elmagroup is continuing its business transformation towards profitable growth. Thanks to the continued high demand from customers and awards for innovative system solutions, order income and net sales have improved significantly compared with last year.
In the Asia region, which accounts for around 7% of the Elma Group's total order intake, orders decreased slightly as a result of the two-month lockdown in China and the still tense COVID situation. However, this decline was more than compensated by the positive performance in the Europe region, where net sales rose by 3.0% adjusted for currency effects.
The takeover of Trenew Electronic AG in Ruti ZH and its consolidation into the Group will take effect retroactively as of January 1, 2015. With its core competences of embedded computing systems, power supplies and electronic packaging, the company is active in a wide range of markets. Trenew Electronic's product portfolio fits perfectly into the Elma Group, especially in the area of system integration.
The Board of Directors of elmagroup has appointed Thomas Herrmann, who currently holds the position as General Manager Industrial Steam Turbines at GE Power, as its new CEO. He will succeed Fred Ruegg, who has announced his retirement. Herrmann has a comprehensive technical and business background with extensive experience in leadership. He is an ideal fit for Elma on both a personal and professional level and will continue to pursue the Group's growth strategy.
