ifm with another record turnover

• Turnover reaches new record high of 1.37 billion euros
• Number of employees rises above 8,700
• More than 100 patent applications in 2022

Despite global crises, the business of the ifm group of companies continues to grow. For the past financial year, records were again achieved in turnover and employment.

Christoph von Rosenberg, CFO of the ifm group, cites an impressive figure when presenting the 2022 balance sheet figures: “We produce more than 70,000 products per day on average and deliver them to our customers.” In total, this amounted to around 26 million products last year. With a turnover of over 1.37 billion euros, a new turnover record was again achieved, exceeding the previous year by 18 %. The ifm group of companies was also able to benefit from positive exchange rates. The result (EBIT) of 7.6 % (previous year 10.6 %) was better than planned despite considerable inflation-related and supply chain-related additional costs. “We have made significant additional investments in material procurement and accepted a high inventory build-up to meet the global supply chain challenges,” explains Christoph von Rosenberg: “Thanks to these measures and our worldwide presence in 165 countries through sales companies and trade partners, we were able to successfully respond to market requirements, flexibly and in direct dialogue with our customers.” R&D expenses increased in line with turnover, so that the ratio remains at 10 %. In 2022, more than 100 new patents were applied for, and the number of actively used patents is 1,170.

In order to be able to grow further, the staff plays a decisive role. “The total workforce at the end of the year comprised around 8,750 employees worldwide, an increase of 8 % compared to the previous year,” says Christoph von Rosenberg: “And since we want to keep growing, we are currently stepping up our recruiting activities.” In Germany more than 5,270 employees work for ifm, more than 3,600 of them at the locations in the Lake Constance region, where about 2/3 of all products are manufactured. Besides, the majority of the research and development work is located there.

Christoph von Rosenberg is also positive about the outlook for the current financial year: “For the current financial year, 2023, we are confident to continuously improve material procurement, so we expect a marked increase in turnover. The first quarter of 2023, which has just ended, confirmed our assumptions.”