Wagner Successfully Closes Fiscal Year After Continued Growth
28.09.2023 - The Wagner Group, headquartered in Langenhagen near Hanover/Germany, closed the past financial year with an outstanding overall result following renewed Group growth.
Despite the overall challenging global economic situation, the fire protection solutions provider was able to increase the Group's consolidated total output to EUR 123.4 million. This corresponds to growth of EUR 8.3 million or 7.2% compared to the previous year. The company, currently employing around 700 people worldwide, has thus grown continuously since it was founded in 1976 and once again exceeded its targets in the past fiscal year.
According to Wagner, the success is based not only on disproportionate growth in the relevant foreign markets, but also on successful business in the core market of Germany. In recent years, the company has consistently pushed forward its internationalization strategy and, in addition to further market development within Europe, is currently focusing primarily on further strengthening its business in North America as well as the developing and expanding the fire protection portfolio in India and its neighboring countries.
"Our corporate success is a team success and would not have been possible without the commitment of our subsidiaries in the respective markets. We see that our objective of consistent internationalization, which we have defined as a key pillar in our corporate strategy Wagner.2026, is now paying off. In addition, we are also driving forward the digital transformation in terms of our corporate processes as well as the further development of our plants and systems in order to maintain our technological and innovation leadership in the future," says the company founder and Managing Director of Wagner Group GmbH, Dipl.-Ing. Werner Wagner.
Of course, Wagner also observes the major global economic challenges that all commercial companies are currently facing: on the one hand, the high to very high inflation worldwide as well as increased energy prices, and on the other hand, the shortage of skilled workers, which is not only at a high level in Germany. Nevertheless, Wagner continues to see the signs pointing to growth. “Opening up new markets worldwide is an important success factor for our family-owned company. Through internationalization, we are setting the future of our group of companies on a solid foundation,” explains Werner Wagner.
According to him, the outstanding commitment of the employees plays a major role in the company's success: “The exceptionally good overall performance and successful development of our group would not have been possible without the daily commitment of our motivated employees at headquarters and in the subsidiaries. In addition to thanking our customers and business partners, the management would especially like to thank our #teamWagner.”