Ferrum adds international subsidiaries in 2022 as well as in 2023
To even better serve its international client base, Ferrum established two more companies in 2022. In addition, within the first few months of 2023 the next subsidiary will start its operations. After the record year 2021, Ferrum was in 2022 not able to reach the previous year’s financial result, but is determined to continue its expansion both internationally as well as at its headquarters in Switzerland.
Growth of Ferrum continues
Ferrum grows its international network with the recent opening of its daughter companies in Bangkok, Thailand and in Solihull, UK. These two sales and service organizations of Ferrum complement the current set-up with operations in Switzerland, in Germany, in Poland, in the USA, in Brazil, in India and in China. The internationalization gives Ferrum’s global customers quicker and better access to all products and services. The local value chain in the subsidiaries continuously expands; currently Ferrum invests substantially in its US presence. More than half of the 900 Ferrum staff in the meantime are based in the international subsidiaries. The biggest investments for the time being however are being made in Switzerland: coming summer Ferrum will break the ground for an CHF 40 million expansion project at the Schafisheim headquarters. Ferrum will in the annex building integrate the parts manufacturing. In the future the complete production will be under one roof.
Solid result despite difficult general conditions
The record year 2021 with sales of CHF 220 million and a 15% EBITDA-margin could not be matched in 2022. With sales at CHF 200 million and solid margins, Ferrum nevertheless delivered good results; specifically in light of the geopolitical difficulties as well as the supply chain challenges, which had quite a negative effect on the business.
“For 2023 we are back on our growth path", confirms Beat Bühlmann, Executive Chairman of Ferrum. “I am very pleased to continue our international expansion. This spring we will be commencing our operations in Ho Chi Minh City, Vietnam. We have a large installed base in this country and expect Vietnam to become even more important for us in the coming years.” Ferrum regularly looks at opportunities to expand its international footprint. One or two additional international subsidiaries are expected to take up its business by 2024.
More information at: www.ferrum.net
