“The profound changes in global markets are also opening up new opportunities for us.”

How do you see the past year for the HOERBIGER Group?

Dr. Thorsten Kahlert — Last year, HOERBIGER employees jointly set new standards. In addition to strong revenue growth based on an extremely stable and healthy core business, we also achieved our ambitious profitability targets. Furthermore, we made progress on important innovation projects and made significant progress in the further development of our new business areas.

How did the individual business areas perform?

TK — All business areas delivered impressive performance last year – despite the continuing difficult geopolitical and economic environment.

The Compression Division once again had a record year. Growth was achieved in the traditional OEM and service business for reciprocating compressors as well as in the Flow & Motion Control and Air & Industrial market segments.

The Automotive Division was able to respond to the challenges of an uncertain and stagnating market by rigorously managing costs and capacity, thereby maintaining the competitiveness of its business.

The Rotary Business Unit is back on track for growth, supported among other things by three recent acquisitions that further strengthen its market position and complement the business unit’s expertise.

The Engine Business Unit was confronted with a significant slowdown in the hydrogen market. This was compounded by stagnating existing business, which led to a slight decline in sales.

The Safety Business Unit also achieved record sales last year despite the difficult market in Europe, with strong performance in North America and Asia in particular driving growth.

^{Dr. Thorsten Kahlert with Dr. Martin Komischke, President of the Board of Directors.}

HOERBIGER not only had to deal with a difficult market environment last year …

TK — You are referring to the partial outage of our IT infrastructure caused by a third party who gained unauthorized access to our network. This resulted in production downtime at various locations. The situation pushed us to our limits. Fortunately, we were able to return to normal operations within a short period of time.

How did you accomplish this?

TK — IT security has been an important issue for us for many years. Despite extensive protective measures, we were aware that we could be affected at any time. We were well prepared for a crisis and were therefore able to respond to the situation very quickly and effectively with the help of external specialists.

The second – and, in my view, decisive – factor in our success was how we dealt with this existential crisis. What I experienced during those summer weeks was truly exceptional – an outstanding example of teamwork at the highest level, both professionally and personally. We rose to the challenge and kept HOERBIGER running with an enormous amount of energy, commitment, and creativity. Whether on the Board of Directors, the Executive Board, the crisis management team, the IT team, in the production facilities, in the offices, or in the field with customers, we were all able to count on each other in this critical situation. Our colleagues took responsibility and used all available resources to master the crisis and ensure that we could keep our commitments to customers and suppliers. It was an impressive team effort that demonstrated how resilient and motivated our organization is.

HOERBIGER has grown profitably in a very difficult market environment. Is that one of the reasons for this?

TK — Definitely. The way we collaborate and interact with each other has a major impact on our success. We are open, collaborate on projects across the group at eye level, and all pursue the same goal. I sense tremendous energy within HOERBIGER – at all levels. This determined, hands-on mentality and unwavering determination to overcome every obstacle enable us to tackle the challenges of the market with a spirit of sportsmanship and successfully overcome them.

HOERBIGER has continued to evolve over the past 12 months, both organizationally and culturally. The sense of unity has grown noticeably. Today, we no longer think in silos, but act as one community across the Group.

At the same time, we promote and live a strong identification with the individual business areas and a strong sense of ownership in the local teams. This balance between a strong group spirit and individual responsibility in the business areas is a decisive step forward in our transformation.

What is your forecast for 2025?

TK — We are addressing the challenges of the current fiscal year from a position of strength. A sharpened strategy, lean structures, and a globally balanced footprint with production facilities in all key regions of the world provide a solid foundation for responding flexibly to market changes. Of course, we must remain cautious and vigilant in view of the current market conditions. However, the profound changes in global markets also open up new opportunities for us.

Innovation is and will remain the key driver of HOERBIGER’s growth. That is why we are identifying new projects across the group to ensure a strong innovation pipeline for the coming years. We are focusing on developing products and business models that best meet new market and customer needs and optimally position us in existing and new growth areas. The focus is on semiconductor technology, medical technology, environmental technology and automation. These megatrend-driven industries offer us attractive growth opportunities beyond pure competitive displacement.

As in previous years, we intend to grow both organically and through acquisitions in 2025. Promising projects are currently underway that should have a positive impact on HOERBIGER’s positioning and long-term profitable growth. These include acquisitions that complement existing capabilities and business models or expand our regional footprint. In addition, HOERBIGER has the ambition to make larger acquisitions that will take the Group’s growth and stability to a new level. Thanks to the positive business performance of recent years, HOERBIGER has both the financial resources and the market position and reputation to take such a step.

In summary, we are well positioned to actively shape HOERBIGER’s development in the current year and further strengthen our position.

Where do you see risks?

TK — Currently, I see three main risks for HOERBIGER. The first risk results from geopolitics and sanctions, which could affect the semiconductor sector in particular. Trade restrictions and political tensions could impact our supply chains and business opportunities.

Another risk is the uncertainty caused by wars and conflicts in various regions of the world. The Middle East and other potential conflict areas in particular could affect global markets and thus our business due to their unstable situation.

In addition, the threat of cybercrime remains a continuous risk. Even though we successfully dealt with the incident last year, this does not mean that we are safe from such attacks in the future. We therefore remain vigilant and continue to invest in the security of our systems.

HOERBIGER is always on the lookout for new talent. Why do you think HOERBIGER is an attractive employer?

TK — For me, there are three things that make HOERBIGER special: We offer a very personal, almost family-like environment where employees know each other well and are often connected as friends. At the same time, we have an impressive global presence on all continents that is comparable to that of large corporations.

Secondly, with our performance-driven products and services, we really make a difference for our customers by helping them to significantly increase the sustainability of their value creation. This is often reflected in the tremendous appreciation we receive from our customers.

And thirdly, the colleagues at HOERBIGER. They are not only committed and ambitious but also put their heart and soul into their work. They feel that they can make a difference with their work—and they are willing to go the extra mile to do so.

HOERBIGER is celebrating its 130th anniversary this year. If you had one wish for the future of the Group, what would it be?

TK — I hope that HOERBIGER remains strong in its fundamentals, such as its values, culture, and team spirit. At the same time, I hope that HOERBIGER remains open to change so that it can continue to be a pioneer in the future and successfully assert itself in the constantly changing world of tomorrow. In my opinion, this balancing act between maintaining consistency and adaptability is the key to our long-term success.