TGW creates 850 new jobs and invests in location expansion
(Marchtrenk, Austria, September 23, 2021) The TGW Logistics Group has successfully completed its 2020-2021 business year (July 1, 2020 to June 30, 2021) with a turnover of 813.1 million euros. Incoming orders were in the billions for the first time at 1.1 billion euros, while EBIT climbed to 50.5 million euros. In the coming months, the technology company will create 850 new jobs – more than half in Upper Austria.
Harald Schröpf, Chief Executive Officer of the TGW Logistics Group, greets the developments with satisfaction: "The last year and a half has been very challenging for TGW – and outstanding at the same time. I am deeply impressed by the passion and dedication shown by our employees. Together, we were able to deal with the effects of the COVID-19 pandemic successfully. For the first time in our history, our incoming orders broke the one billion threshold, while at the same time our EBIT grew to a record value of 50.5 million euros. Our turnover amounts to 813.1 million euros."
In March 2021, TGW sold its US-based conveying equipment division to a strategic investor: "This step is part of our global standardisation strategy. The turnover of the division that was sold – around 80 million euros in the 2019-20 business year – was excluded from the total turnover for accounting reasons. If one were to include this sold division, TGW's turnover would have grown by ten percent."
Moreover, TGW is charging past another milestone in the current business year: the billion euro turnover mark. Incoming orders are expected to once again clearly exceed the billion euro threshold, with strategic growth markets being Europe and North America.
The research and development budget increased by more than 17 percent to 32.8 million euros. This number will see a further significant boost in the current business year. The focal points are the areas of artificial intelligence, software and robotics. These technologies are also the basis for maximum automation of the processes in logistics centres that are most difficult to staff adequately.
For the 2020-21 business year, TGW is paying a Dual Employee Participation profit share at a total of seven million euros and is doing so for the fourth time. The concept focuses on assuming responsibility and fair participation in economic success, in line with the philosophy "Focusing on People – Learning and Growing". Employees can choose between the options of money, additional days of leave or a brand new option: a beneficial offer that focusses on health.
The number of employees increased to 3,766 in 2020/21. Intralogistics specialist TGW is continuing on its course of growth. In the current business year, it is creating 850 additional jobs, more than half in Upper Austria. Recruiting is focussed on specialists in the areas of software and IT, control engineering, service technicians and development specialists. Harald Schröpf says: "A key factor in our success is the expertise and dedication of our employees. As a technology company, our line of business is an innovative and dynamic industry. Having a strong team is the only way for us to deliver the best results to our international customers. In addition to exciting jobs, we therefore offer a state-of-the-art working environment, numerous benefits, flexible working hours and a generous work-from-home model."
To lay the foundation for this planned growth, TGW is investing about 200 million euros into its locations in the next five years. On the Austrian sites, office buildings for 800 employees and a production hall including a highly automated warehouse with a total area of around 20,000 m² are being built. In addition, an education and development centre is being built. Here, TGW will be launching a comprehensive programme for professional and personal education and development.
TGW is also investing internationally in its units: The automation specialists of TGW Robotics near Rosenheim, Bavaria, have also recently acquired a new company site that is more than twice as large.
Harald Schröpf: "Signs are pointing to further growth. TGW is making massive investments into research and development, infrastructure as well as the education and training of our employees. Because we are set up as a foundation company, we have the security and stability we need to think and act for the long term."
