BERNDORF (10 April 2019) – After starting 2018 in a period of high growth, the global economy expanded at a more moderate rate in the second half of the year. The companies in the Berndorf Group made the most of this environment to cement and sustainably build on their international positions during the firm’s 175th jubilee year. Many of the Group’s key markets continued to grow, for the third year running.
In 2018, Group revenue reached EUR 707.2 million (m) – exceeding EUR 700m for the first time (2017: EUR 661.1m). Profit before tax fell slightly year on year, by EUR 3.9m. The reasons for this included higher research and development spending within the Group, which was above the long-term average.
The aim of investment activities is to ensure that Berndorf companies are well-placed to meet the technological challenges the Group will face in 2020 and beyond. In accordance with the requirements of the various sectors they serve, each Group company charts a course to market and technology leadership in its particular niche. Berndorf AG, as the parent company, helps to smooth the way.
Kick-off for BIT: more funds for innovation in Group companies
Berndorf AG established a new basis for innovation promotion in the Group last year, with the introduction of the Berndorf Innovation and Technology initiative (BIT). A total of EUR 20m has been set aside to support long-term innovation projects at Group companies up to 2021. This boosts the financial leverage applied to innovation projects to a hundred times its former strength. Berndorf AG made a conscious decision in 2018 to make this investment in existing Group companies and not to acquire new subsidiaries.
In 2018 the Berndorf Group had an average of 3,337 employees at fully consolidated subsidiaries (a 10.7% increase on 2017) in more than 20 countries. Continuous growth in recent years is a major reason behind the investment seen in employee and trainee exchanges between Group companies, which aim to foster intercultural skills and professional development. Nurturing high potentials as well as training and education programmes for competing in the global marketplace are also key focuses of human resource development at Group companies.