May 30, 2023
Annual Report 2022
MANN+HUMMEL Group closes year 2022 with a turnover of 4.8 billion euros
Difficult business conditions and the rise of inflationary pressures significantly slowed last year’s global economic growth and development. Despite the challenging overall economic situation, MANN+HUMMEL closed 2022 with a record turnover. “The challenging year 2022 has once again shown that MANN+HUMMEL is crisis-proof and future-oriented at the same time,” said Kurk Wilks, President and CEO of the MANN+HUMMEL Group, at the presentation of the annual report for the past year.
The Ludwigsburg-based filtration specialist closed 2022 with a turnover of 4.8 billion euros (2021: 4.2 billion euros) – a historic high in the company’s 80+ year history. Earnings before interest and taxes (EBIT) resulted in 176 million euros, EBITDA in 394 million euros. Both figures are thus roughly at the strong level of 2021 (EBIT 2021: 191 million euros, EBITDA 2021: 419 million euros).
“In an environment that remains challenging, we keep on strengthening our international presence and continue on our path of sustainably transforming our organization. With our absolute focus on filtration and separation solutions in the areas of Transportation and Life Sciences & Environment, we will be able to speed up and further solidify our transformation,‘’ said Emese Weissenbacher, Chief Financial Officer and Executive Vice President.
In 2022, the globally active filtration specialist has successfully finalized the sale of its high-performance plastic parts business. “The sale was an important milestone for MANN+HUMMEL and marks a further step in line with our vision of ‘Leadership in Filtration’,” Wilks added.
Looking at MANN+HUMMEL’s Transportation business, the company secured significant new acquisitions in its Original Equipment business. Furthermore, the filtration specialist experienced growth of its Aftermarket business in mature markets as well as in the South and Central American and the AMEA regions.
Heavy investments in MANN+HUMMEL’s Life Sciences &Environment Air Filtration business in the United States resulted in an expansion of the organization’s manufacturing and distribution footprint to serve the customers within close proximity to their needs. In Water & Membrane Solutions MANN+HUMMEL is investing in vertical integration of its products and solutions thus advancing innovation and cost competitiveness to meet the customer’s needs.
“We have continued to invest heavily in various digitalization and IT projects and our most valuable asset: our employees. We will continue this path to strengthen MANN+HUMMEL’s international footprint and competitiveness,” said Weissenbacher.
One example: the opening of MANN+HUMMEL’s Digital Hub in Heilbronn (Germany) in 2022. “Digitalization is a key driver for our transformation strategy. After Singapore, Shanghai (China) and Raleigh, NC (USA), we have opened our fourth Digital Hub in Heilbronn. We will continue our efforts in this area and actively shape the future - the future of filtration and the future of MANN+HUMMEL,” Weissenbacher added.
Outlook
“In an environment that will remain challenging, we are consequently executing our strategy and hence securing important long-term growth potentials for MANN+HUMMEL,” Weissenbacher stated. “We want to offer our customers around the globe the best filtration and separation solutions possible to enable cleaner mobility, cleaner air, cleaner water, and cleaner industry. We are convinced that filtration is a key technology of the 21st century and that we will succeed with our customers’ success.”
Wilks added: “Our most important asset along the way: our employees. In 2022 we have seen unbelievable dedication and performance. Our highly motivated teams around the globe have pushed the boundaries every single day to bring the company forward and to meet our customer’s demands.”
Special annual report
To recognize and honor MANN+HUMMEL’s employees, the company has opted for a somewhat differently designed annual report 2022. It not only entails an overview of MANN+HUMMEL’s key figures but also a deep insight into various projects, initiatives, and achievements – told by colleagues who (together with their teams) made a valuable contribution to MANN+HUMMEL’s performance in 2022.
