Mahle sees the electric transition completed

The Swabian automotive supplier Mahle has achieved the turnaround and closed the 2023 fiscal year with record sales and positive figures despite worldwide difficult conditions and cost increases. Adjusted for currency effects, sales rose organically by 8.2 percent to 12.8 billion euros. Operating profit (EBIT) increased from 60 million euros to 304 million euros. The group result was positive at 26 million euros. Arnd Franz, Chairman of the Group Management Board and CEO, stated at the company's annual press conference that Mahle has a strong market position in core products and, thanks to innovations in e-mobility, is also achieving increasing acquisition successes in this area.

"We are on the rise. Even though we have another extremely volatile year ahead of us. The direction is right," says Franz. 

Franz further stated that the group's realignment as part of the MAHLE 2030+ strategy towards the three strategic areas of electrification, thermal management, and sustainable internal combustion engines is paying off. Sales in the engines systems and components sector grew globally by 9.3 percent to 2.6 billion euros, adjusted for currency effects. The Filtration and Engine Peripherals business unit showed a sales increase of 9.7 percent, adjusted for currency effects, to 2.1 billion euros. The Aftermarket business unit also achieved very good results, with its sales growing by 22 percent, adjusted for currency effects, to 1.3 billion euros.
 

Electrification is a Topic for the Future

Nevertheless, the company now generates over 60 percent of its revenue from technologies and products that are not directly related to the combustion engine in passenger cars. As a result, the business sectors strongly associated with electrification saw an increase in revenue: The Electronics and Mechatronics division slightly increased its revenue to 1.4 billion euros, and the Thermomanagement sector grew by a currency-adjusted 4.1 percent to 4.6 billion euros. However, both business sectors felt that the sales of battery electric vehicles were not as dynamic as planned. Nonetheless, the company is preparing for rising demand. The product portfolio for electric vehicles in the Thermomanagement sector was further expanded and new products in the areas of air conditioning and battery cooling plates will be manufactured at the company's European locations.

“Electrification is the topic for the future. Our focus is on electric drives and intelligent charging. We are doing everything to make e-mobility more attractive and affordable,” promised Franz.

With a new technology modular system for e-motors, the company offers drives for passenger cars and commercial vehicles that are designed to consistently deliver high peak performance while eliminating the use of rare earth elements. In wireless charging for e-vehicles, the new automated positioning system has been declared the global standard. The Swabians recently received two large orders for their new thermomanagement module, with a total order volume of nearly 1.5 billion euros. The modules combine a range of components for heating and cooling various systems in the vehicle. In addition to smaller installation spaces and drastically reduced assembly effort, the modular approach brings significantly more efficiency. Thus, the range of an electric car can increase by up to 20 percent, and charging speed can rise significantly.