Machinery maker Engel, Schwertberg, Austria, reported its highest-ever revenue of 1.7 billion euros, about $1.87 billion U.S., in fiscal year 2022-2023, which ended in March. The figure represented a 13 percent increase over the previous fiscal year.
Engel Group CEO Stefan Engleder noted in a statement that the company’s automotive, medical, packaging and technical molding business units contributed to the growth.
Investments made to meet demand for products used in diabetes therapy drove growth in North America and Europe, where sustainable packaging also played a role. The automotive industry had an especially strong impact in Asia and the Americas, Engleder said.
“As we have already demonstrated in the past, we can adjust fast to changes in the business environment and absorb their impact. We are confident that by consistently following our strategic goal to drive innovations and be an industry leader, we have set ourselves up for success in the upcoming year,” Engleder said.
