TGW boss happy

Tech company leaves the loss zone behind

Henry Puhl presented good figures for the 2023/24 financial year - turnover rose to over one billion euros and earnings before interest and taxes are positive again.(Bild: Krone KREATIV/Markus Wenzel (2))

In times when negative news is increasingly dominating, this news is so good: TGW Logistics from Marchtrenk (Upper Austria) returned to profit in the 2023/24 financial year. The turnover of the tech company, which plans and equips highly automated logistics centers, also climbed to over one billion euros for the first time. There are also signs of growth in terms of employees.

After the 2022/23 financial year, TGW Logistics reported earnings before interest and taxes of minus 600,000 euros and thus ended up in the red. Last year, the tech company, which operates from Marchtrenk (Upper Austria), managed to turn things around: Turnover climbed to 1.07 billion euros, exceeding the magic billion mark for the first time, and earnings before interest and taxes were also positive again - at 29.6 million euros.

"We are scrutinizing ourselves as a company"
"This is a great credit to the employees," emphasizes TGW CEO Henry Puhl and speaks of "stormy times" that had to be overcome. A transformation process is still underway at the company, which specializes in equipping logistics centers. "We are scrutinizing ourselves as a company very closely," reveals Puhl. Which topics are being put to the test? Puhl: "We are asking ourselves how we measure success and performance, how we want to lead and deliver. We are scrutinizing our process landscape and our organization."

Expansion has started
Even though some markets, including Germany, are currently weakening and there is a noticeable reluctance to invest, the signs at TGW Logistics are pointing to growth. The expansion of production and warehouse space in Marchtrenk began a few weeks ago. A total of around 100 million euros will be invested here.

"We need a lot of employees"
In terms of personnel, there was already a significant increase in the last financial year: from 4400 to 4500 employees worldwide. "We have set ourselves the goal of growing faster than the market. To achieve this growth together, we need a lot of employees," says CFO Clemens Bauernfeind.