Mahle turns things around

Mahle turns things around

Sales rose – adjusted for exchange rate effects – organically by 8.2 percent to 12.8 billion euros, and the operating result (EBIT) rose from 60 million euros to 304 million euros. The consolidated result was positive at 26 million euros. “2023 was an important year for Mahle,” says Arnd Franz, Chairman of the Group Management Board and CEO. "We have a strong market position for our core products and, thanks to our innovations for e-mobility, growing acquisition successes in this area too. We are on the rise." The realignment of the group as part of the Mahle 2030+ strategy on the three strategic areas of electrification, thermal management and sustainable combustion engines is paying off, says Franz. Mahle has consistently worked on improving its profitability and adjusted its portfolio. For example, the group sold its 50 percent stake in the BHTC joint venture and is divesting itself of the original equipment manufacturer business with thermostats. In Europe and North America in particular, the business areas that are predominantly linked to the combustion engine grew significantly. Global sales of engine systems and components grew by 9.3 percent, adjusted for exchange rate effects, to 2.6 billion euros. The Filtration and Engine Peripherals division reported an increase in sales of 9.7 percent, adjusted for exchange rate effects, to 2.1 billion euros. The Aftermarket division also achieved very good results. Adjusted for exchange rate effects, its sales grew by 22 percent to 1.3 billion euros.

Mahle now generates over 60 percent of its sales with technologies and products that are not directly related to passenger car combustion engines. The electronics and mechatronics division increased its sales slightly to 1.4 billion euros, while the thermal management business area grew by 4.1 percent, adjusted for currency effects, to 4.6 billion euros. However, both business areas felt that sales of battery-electric vehicles were not yet as dynamic as planned. Mahle is preparing for increasing demand. The company further expanded the thermal management product portfolio for electric vehicles and will produce new products in the areas of air conditioning systems and battery cooling plates at its European locations. "Electrification is the topic of the future. Our focus is on electric drives and intelligent charging. We are doing everything we can to make e-mobility more attractive and affordable," says Franz. With a new technology kit for electric motors, Mahle offers drives for cars and commercial vehicles that consistently deliver high peak performance and do not contain rare earths. The new automated Mahle positioning system has been declared a global standard for wireless charging of electric vehicles. And Mahle recently received two major orders for its new thermal management module, with a total order volume of almost 1.5 billion euros.