The Lapp Group is defying the economic downturn, but can look back on a challenging fiscal year. According to preliminary calculations, the global market leader for integrated solutions in the field of cable and connection technology is expected to generate sales slightly more than 1.8 billion euros in the 2023/24 financial year (1 October - 30 September) (2022/23 financial year: 1.9 billion euros). The family-owned company thus remains slightly below the previous year's level.
Europe again accounted for the largest share of LAPP's corporate sales in the past financial year. Nevertheless, the persistently weak economic situation and geopolitical tensions caused customers here to remain cautious. In Asia in particular, however, the specialist for connection solutions was able to further expand its business. The Lapp Group has been committed to consistent internationalisation for many years: the family-owned company manufactures at 21 international locations and is active in over 80 countries.
Matthias Lapp, CEO of the Lapp Group, emphasises: "The global economic challenges are also affecting us. Our diversification is helping us: LAPP is active in many sectors and countries, so we have at least almost matched the previous year's turnover. We have also responded to the economic downturn with clear and proactive measures in order to achieve a better result again in the coming fiscal year." LAPP remains committed to its global investment programme: for example, the company is currently expanding its logistics and service centre in Ludwigsburg, making it the largest single investment in the company's history.
Looking ahead to the coming fiscal year, Matthias Lapp says: "We are seeing a slight upturn in some sectors, as well as in Asia, which makes us optimistic. In future, we will continue to work closely with our customers and position ourselves as a solution provider. We believe this puts us in a good position for long-term growth."
The Lapp Group has around 5,800 employees worldwide and employs over 1,400 people in the Stuttgart region.
Europe again accounted for the largest share of LAPP's corporate sales in the past financial year. Nevertheless, the persistently weak economic situation and geopolitical tensions caused customers here to remain cautious. In Asia in particular, however, the specialist for connection solutions was able to further expand its business. The Lapp Group has been committed to consistent internationalisation for many years: the family-owned company manufactures at 21 international locations and is active in over 80 countries.
Matthias Lapp, CEO of the Lapp Group, emphasises: "The global economic challenges are also affecting us. Our diversification is helping us: LAPP is active in many sectors and countries, so we have at least almost matched the previous year's turnover. We have also responded to the economic downturn with clear and proactive measures in order to achieve a better result again in the coming fiscal year." LAPP remains committed to its global investment programme: for example, the company is currently expanding its logistics and service centre in Ludwigsburg, making it the largest single investment in the company's history.
Looking ahead to the coming fiscal year, Matthias Lapp says: "We are seeing a slight upturn in some sectors, as well as in Asia, which makes us optimistic. In future, we will continue to work closely with our customers and position ourselves as a solution provider. We believe this puts us in a good position for long-term growth."
The Lapp Group has around 5,800 employees worldwide and employs over 1,400 people in the Stuttgart region.
