Company set for targeted growth under the Berndorf Automotive brand
Following the example set by former Berndorf subsidiary Schoeller-Bleckmann Oilfield Equipment (now SBO AG – www.sbo.at) in 2005, Berndorf’s automotive specialist stoba Group (www.stoba.de) will be heading in a more independent direction in future. After eight years as part of the Berndorf family, the company has “outgrown” the group and become a major international player in its own right. With 1,100 employees at seven locations, in the previous financial year the company reported revenue of EUR 175 million and EBITDA of EUR 23 million.
The establishment of stoba e-Systems (www.stoba-esystems.com) in 2018 marked the first step towards the company’s strategic diversification. The group will now develop fully-electric drive systems for the automotive industry, in addition to producing precision metal parts for petrol and diesel engines.
In order to maintain a focus on this growth strategy, in 2019 Berndorf AG’s owners set up a stock corporation (Aktiengesellschaft), into which stoba Holding’s parent company was then incorporated. The new company is called Berndorf AutoMotive AG (BAMAG). This will enable stoba to make investments tailored more closely to its own needs, and to build on more streamlined decision-making processes. As the new stoba parent, BAMAG also has a significantly stronger equity base. The owners will remain unchanged, and the restructuring will have no implications for the operations that remain part of Berndorf AG.