Annual Report 2020
For HANSA-FLEX, as for many other companies, the 2020 financial year was a turbulent one, full of challenges, including economic ones. A slight decline in revenue for the Group was to be expected after ten years of continuous growth in the face of the global crisis. This decline turned out to be quite moderate at around 6%, with earnings remaining clearly positive. In the first quarter of 2021, however, HANSA-FLEX AG posted record sales. With a monthly increase of 7.4% on average compared to the already very strong sales of the first months of the previous year before the outbreak of the Corona crisis, a new monthly record turnover of a good 31 million euros can be reported for March 2021 in Germany alone.
The annual report documents HANSA-FLEX's determined joint approach to the challenges posed by the Corona pandemic and provides interesting insights into the parallel development steps of the major company-wide projects. In 2020, despite the difficult circumstances, HANSA-FLEX AG began construction of a new extension to the company's headquarters at its Bremen site (investment volume more than 22 million euros), with Europe's largest automated high-bay warehouse for hose goods, as well as a hose line series production facility with glass production. Numerous national subsidiaries, such as in Poland, Austria, the Czech Republic, Italy and Estonia, were expanded or enlarged, and the PHOENIX global organization project, the centerpiece of HANSA-FLEX's digitalization strategy, was launched.
The figures section contains the most important key figures on business activities, including the Group's global consolidated revenue. This amounted to around 440 million euros in 2020 on a consolidated basis, due to the Corona crisis, compared to 469 million euros in 2019. In parallel with this moderate decline of 6.6%, the absolute operating result also fell slightly, but remains at a very solid positive level of around 24 million euros (previous year: 25.8 million euros).
"We have come through the first year of the Corona crisis with a thoroughly satisfactory result," sums up Christian-Hans Bültemeier, Commercial Director of HANSA-FLEX AG. "We owe this development primarily to the truly impressive commitment of our employees, but also to our very broadly based business model and our crisis-proof customer structure with over 150,000 active customers from a wide range of industries."