The JUMO corporate group based in Fulda, Germany was able to profit from the global growth trends in 2018 as well. The consolidated turnover rose by 14 million euro. However, global risks are dampening expectations for 2019.
"We are very satisfied with the last financial year. The growth trend from the previous year continued and we were able to increase our sales from 234 million euro in 2017 to 248 million euro. Since 2008 our consolidated turnover has grown by 39 %," said Bernhard Juchheim, Managing Partner of the JUMO corporate group.
"We grew against the industry trend with a plus of 6 %. According to the industry association ZVEI the turnover of the entire German electrical industry increased by only 2.6 % in 2018", adds Michael Juchheim, who manages the company with his father as Managing Partner.
JUMO Germany was able to increase the previous year's turnover by 6 % to 178 million euro. Domestic growth amounted to 4 % while exports increased by 7 %. The company's export rate remained stable at 54 %. This is around 2 % more than the industry average in Germany.
"Our growth model as a product and solution provider for customers in a wide variety of industries continues to pay off. At the same time, innovations such as JUMO plastoSENS plastic sensor technology allow us to open up new markets," confirms Michael Juchheim.
Thanks to the solid financial situation and good liquidity, investments of 10.2 million euro were made in machinery, equipment, and tools worldwide in 2018. In 2019, this sum will be significantly higher due to extensive expansion and relocation measures.
JUMO continues to expand its workforce. At the end of 2018, the corporate group employed 2 328 people worldwide. At the Fulda site and in the German branch offices 1 401 people were employed, of which 108 were apprentices. 927 people were employed in the foreign subsidiaries. The apprenticeship quota at JUMO is still exceptionally high. As a result, JUMO could employ 40 new apprentices and year-long interns over the last year. The number of employees in the group as a whole has risen by 40 % over the past 10 years.
Growth opportunities through megatrends
Topics such as digitization, connectivity, security, or energy and the environment will determine social and economic development in the coming years. According to Michael Juchheim, JUMO is very well positioned on all these issues and can contribute to overcoming the associated challenges through both products and solutions. Years ago, JUMO identified water and wastewater technology as well as renewable energies as growth markets so that it pushed product development for these industries. A comprehensive transformation project is currently laying the groundwork for the realignment of the corporate group with regard to digitization.
Outlook for 2019
In 2018 the German gross domestic product had a strong growth of 1.5 %. The forecast for 2019 is only 1.0 %. The German electrical industry is expecting identical growth in the industry. JUMO has clearly committed itself to an above-average growth target and plans to increase sales by 4 % to 258 million euro in 2019. Nevertheless, JUMO anticipates somewhat lower corporate growth than in the previous year due to the global economic risks.