Heavy losses

Crisis in the construction sector also affects Schlotterer

In the previous year, the Salzburg-based company saw a renewed decline in turnover. A recovery is not expected until 2026. Plans for a third plant are still underway.

Turnover at sun shading manufacturer Schlotterer, based in Adnet (Tennengau), fell for the second year in a row in the 2024 financial year. Revenue fell from EUR 112 million to EUR 105 million - a drop of around seven percent. This was due to the crisis in the residential construction sector, the company announced on Thursday. The management is not expecting any great leaps forward in the current year either. Growth is not expected again until 2026.

"New residential construction has been in sharp decline since 2022. The decline in volumes has only been partially offset by the growth in refurbishment volumes," explained Managing Director Peter Gubisch during a press conference. Although the number of new building permits is set to rise again by 15 percent in 2025, this will only have an impact in 2026 and 2027. "No growth is therefore planned for this year. We don't expect sales to increase again until next year. 2025 will probably be our most difficult year in 20 years."

The company's expansion plans remain unchanged
As the company emphasized, despite a 20% drop in sales compared to the record year 2022, no redundancies have been announced so far. On average, 596 people were employed at Schlotterer in the previous year; this year, 35 employees are to be added in production and a number of apprentices are to be taken on again. And: employees will also receive a bonus equivalent to an average monthly salary for 2024.

The company's expansion plans also remain in place. Schlotterer wants to build a third plant at the company site in Adnet. The trade license and building authority approval have been granted, but an expert opinion is still required for the positive nature conservation decision. Construction of Plant III is scheduled to begin in 2026, with commissioning planned for 2030. "We are assuming with certainty that the demand for sun shading will increase again. The population is growing in Austria and Germany, and there is a shortage of 600,000 homes in Germany alone," explained Gubisch. "In order to achieve the EU's climate targets, the building stock will also have to be thermally refurbished. This will increase the need for sun shading."

Schlotterer is part of the Upper Austrian IFN Holding, which also includes window manufacturer Internorm and door producer Topic. The company produces roller shutters, external venetian blinds and textile sun, insect and pollen protection. Exports account for over 30 percent of turnover.