In times when negative news increasingly dominates, this news is so good: TGW Logistics from Marchtrenk (Upper Austria) has become profitable again in the 2023/24 financial year. The technology company, which plans and equips highly automated logistics centers, also saw its turnover rise above one billion euros for the first time. There are also signs of growth among the employees.
TGW Logistics reported a profit before interest and taxes of minus 600,000 euros after the 2022/23 financial year, thus ending up in the red. Last year, the technology company operating from Marchtrenk (Upper Austria) managed to reverse the trend: turnover rose to 1.07 billion euros, exceeding the magical billion mark for the first time, and profit before interest and taxes was also positive again – with 29.6 billion euros. million euros.
“We question ourselves very seriously as a company”
“This is a great achievement by the employees,” emphasizes TGW boss Henry Puhl and speaks of “stormy times” that had to be overcome. The company, which specializes in the design of logistics centers, is still undergoing a transformation process. “We question ourselves very seriously as a company,” Puhl reveals. Which topics are examined here? Puhl: “We ask ourselves how we measure success and performance, how we want to lead and perform. We question our process landscape and also our organization.”
The expansion has begun
While some markets, such as Germany, are currently weak and there is a noticeable reluctance to invest, signs are pointing to growth at TGW Logistics. The expansion of the production and storage space in Marchtrenk started a few weeks ago. In total we are investing around 100 million euros here.
“Many employees needed”
In terms of personnel, there was already a significant increase in the past financial year: from 4,400 to 4,500 employees worldwide. “We have set ourselves the goal of growing faster than the market. To be able to handle this growth together, we need many employees,” says CFO Clemens Bauernfeind.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
