“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.” Dr. Mohsen Sohi, CEO of the Freudenberg Group
“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.” G. Sivasailam, Director & CEO of Freudenberg Regional Corporate Center India and Managing Director, Freudenberg Performance Materials, India
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 percent 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 percent, 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 percent (up from 9.1 percent 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 percent (compared to 56.1 percent last year).
Freudenberg India reported strong sales of ₹4,015 crore, up from ₹3,803 crore 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 of the 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 percent respectively. Our investments in research and development have grown even more vigorously – by 10.8 percent. They have tripled over that period,” said Dr. 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.”
Energy Efficiency and CO₂ Reduction: Over the past year, Freudenberg has made significant progress in its sustainability initiatives, with a strong emphasis on reducing CO₂ emissions and expanding the use of renewable energy. Despite maintaining consistent energy consumption levels, the company successfully increased its reliance on renewable energy sources. Since 2020, Freudenberg has achieved a 45% reduction in relative CO₂ emissions per million euros in sales, bringing emissions down to 47.5 tonnes per million euros. This translates to an absolute reduction of approximately 200 kilotonnes of CO₂, marking a 26% decline from the base year. In 2024, the company’s total energy consumption stood at 2,486 GWh, with 38% of its electricity derived from renewable sources and an energy efficiency rate of 0.21 kWh per euro of sales. Freudenberg’s global CO₂ emissions (market-based) for the year amounted to 568,000 tonnes. Looking ahead, the company remains steadfast in its commitment to sustainability by continuously enhancing energy efficiency, increasing its share of renewables, and minimizing its environmental footprint.
