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Follow on Google News | Preh Breaks Sales Barrier of €500 Million in 2013Major investment of €11 million in facilities to accelerate growth in 2014-2016
By: Preh, Inc. This strong across-the-board growth in earnings results from a number of factors, including the improved profitability of the company’s international locations following the investments made there during previous years, and an optimized product development process across all business lines. In addition, Preh benefits from low interest expenditures due to its high equity ratio. The company’s positive business growth is also reflected in its workforce. At year’s end 2013, Preh employed about 3,430 people worldwide, roughly 7 percent more than the year before. Employment also grew in the Bad Neustadt location: Just under 90 new jobs were created at Preh headquarters in 2013, increasing the workforce in Bad Neustadt to approximately 1,435 (a 6.5 percent increase) by year’s end. As the largest company in the Joyson Group, Preh GmbH also made a major contribution to the growth of its parent company—Joyson Electronics, which is listed on the Shanghai Stock Exchange, increasing its sales by 13 percent to the equivalent of about €720 million. Prospects are also good for the current fiscal year, during which Preh will celebrate its 95th anniversary. During the first quarter, Preh sales grew by 16 percent over the previous year. The company’s management board again expects a double-digit increase in sales. According to the budget plan, net income will also continue to grow. Preh President and CEO Dr. Michael Roesnick expressed great satisfaction with the company’s performance and announced a construction investment program to drive growth further during the period 2014 to 2016: “We don‘t want to rest on our achievements; Preh recently took the first step to create space for the planned expansion by buying the adjacent Gass property. Preh is interested in acquiring further properties in the direct vicinity of its head office, in particular to address the lack of parking space and is already discussing the options with city officials. Growth will remain a priority on the management agenda. “Alongside organic growth, we are also looking into the potential for creating new growth opportunities by targeted rounding off and adding to our capabilities,” Roesnick also sees great potential for Preh in the electromobility market. With its newly established product division, “Battery Management and E-Mobility,” Ambitious economic targets are, however, not the only item on the Preh agenda. The company’s management is also devoted to employee satisfaction. It has, for example, invested more than €1 million in a new canteen. “This further investment in our headquarters confirms that our partner Jeff Wang also sets great value on employee satisfaction in all locations of the Joyson Group,” said Dr. Roesnick. About Preh The Joyson Group, Ningbo (China), reported sales of (converted) $1 billion in 2013. The group’s automotive activities are combined in the listed company Joyson Electronics, which comprises the divisions Automotive Electronics (Preh) and Automotive Components (Joyson). The automotive supplier Joyson was founded in 2004, while Preh, founded in 1919, has a corporate tradition spanning almost a century. The majority acquisition of Preh was begun in 2011, and Preh has been a fully owned subsidiary of Joyson Electronics since year’s end 2012. Preh is a globally operating automotive supplier with currently 3,500 employees in Germany, Portugal, Romania, Mexico, the United States and China. The company’s head office is located in Bad Neustadt a. d. Saale/Germany. Preh development and production capacities focus on climate and driver control systems, electronic control units for the battery management of E-vehicles and assembly systems for leading automotive manufacturers. For more information, please visit www.preh.com. End
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