Schuco Annual Report 2023
The economic situation in the construction industry, particularly in certain parts of Europe, is fraught. The energy crisis and labour shortage is putting strain on the sector, with high material costs and rising labour costs and interest rates further exacerbating the situation. In this persistently difficult macroeconomic environment, it has not been possible for the company’s global growth to continue as in previous years. The Schüco Group has concluded the 2023 fiscal year with a total turnover of €2.11 billion (7.4 percent below the previous year, currency-adjusted 4.7 percent below the previous year).
The Schüco Group employed an average of 6750 employees worldwide in 2023 (2022: 6750 employees), split as follows: 2750 people worked for Schüco outside Germany. Within Germany, there were 4000 employees (2022: 4100 employees), with 2408 of those working in the East-Westphalia-Lippe region. A total of 2068 employees (2022: 2100 employees) worked for the company at the headquarters in Bielefeld.
Development worldwide
The Metal business division (aluminium and steel) achieved a global turnover of €1770 million, placing it 2.7 percent below the previous year. (2022: €1820 million)
Sales regions outside Europe
Outside Europe, the Metal business division was almost able to reach the previous year’s level with a turnover of €421 million (2022: €425 million). India was able to continue its positive growth trend this year, too, and China was able to noticeably regain momentum following the Coronavirus pandemic.
Germany sales region
High energy and material costs, rising wage bills and interest rates, labour shortages, regulatory hurdles and a lack of planning certainty have plunged the building industry in Germany into crisis.
Development of the PVC-U business
The PVC business area was also unable to continue its successful increase in turnover in 2023, and was seriously affected by the major decline in orders in the residential construction market, especially in the core market of Germany. At €118 million, turnover in Germany was 18.6 percent below the previous year (2022: €145 million).
