Freudenberg Group, a global technology conglomerate, has announced record growth in revenues and operating profits for the financial year 2024. The company achieved sales of €11,947.5 million, which is a 0.4 % increase compared to last year (€11,902.8 million). However, exchange rate changes had a negative effect of €76.9 million on sales. Operating profit grew by about 4.7 %, reaching €1,132.4 million, up from €1,081.6 million last year. This growth is largely due to the company’s innovative products and its strategic expansion into key markets, especially in areas like medical technology and the energy sector.

The profit margin increased to 9.5 % (up from 9.1 % last year). Cash flow from ongoing business activities was €1,288.9 million, which is €114.8 million less than last year. The company's equity ratio, which remains very stable, has slightly improved and is now at 56.8 % (compared to 56.1 % last year).

Freudenberg India reported strong sales of Rs  40.15 billion, up from Rs  38.03 billion in the previous year. The Freudenberg Group operates in India with 11 companies and a workforce of around 3,678 people across various business groups. The company has also invested in building a new production facility for its Vibracoustic Business Group and its joint venture, Freudenberg-NOK India. This new plant was inaugurated in Morinda, India, in 2024.

“The fiscal year 2024 was a year of stable growth in a challenging market environment. Despite continuing weakness in demand, especially in the auto industry and machine-building, we were able to increase our earnings and our sales. Due to this business success, we are able to invest large sums in our future capabilities – in research and development, facilities and technologies. Freudenberg thinks and takes action for the long term” said Dr Mohsen Sohi, CEO, Freudenberg Group.

“Over this period, the sales and operating profit doubled at Freudenberg, achieving an average annual growth rate of 6.6 and 9.7 % respectively. Our investments in research and development have grown even more vigorously – by 10.8 %. They have tripled over that period,” said Sohi, who is retiring at the end of June and passing the baton to Claus Möhlenkamp.

G Sivasailam, Director & CEO of Freudenberg Regional Corporate Center India and Managing Director, Freudenberg Performance Materials, India said, "Freudenberg's sustained growth in India reflects our commitment to innovation, customer focused solutions, and strategic investments, exemplified by the expansion of our production capabilities, including the newly inaugurated Morinda facility. With a diverse product portfolio and a strong focus on R&D, we are dedicated to delivering greater value to our customers while contributing to India's industrial progress. As we move forward, we will continue applying our global expertise to address market needs and drive sustainable growth in the region".