Ganz Transformers continues stable growth in H1 2022

Manufacturing

In the first half of 2022, Ganz Transformers and Electric Rotating Machines continued its stable growth, with the order intake of the company reaching HUF 17.5 billion in H1 2022, according to a press release sent to the Budapest Business Journal.

The company already contracted 80% of its order volume target for this year in the first quarter.

The value of the unexecuted order book is nearly HUF 21 billion, of which almost HUF 7.5 billion is already booked for 2023. As a result, revenue expectations for 2022 are close to HUF 20 billion.

As a result of the change in ownership and the successful reorganization process, the company forecasts a growth of 40-50% in the coming years.  To achieve this, the company has increased its workforce by 10% so far this year, and plans to add more experts in the second half of the year.

Stable operation, dynamic growth

In 2020, the year of its foundation, the company with 140 years of tradition restarted production at the factory of Tápiószele, which had been struggling with financing problems under its former Indian owner CG Electric and was returned to Hungarian ownership after more than 15 years, where it currently employs more than 300 people.

The majority of the company's export projects are in renewable projects. Ganz is now active in nearly 15 markets, including European countries as well as in the Middle East. In the latter region, in Israel, the Hungarian heavy machinery manufacturer was successful in a tender for the construction of the largest solar power plant park of the country.

In April 2022, the company signed a partnership agreement with Maschinenfabrik Reinhausen, a German-based company. Under the terms of the partnership, the company will develop and manufacture intelligent transformers together with the German company, a world leader in power transformer control. This key strategic agreement has made Ganz the market leader in digital monitoring systems and intelligent solutions.

"The energy market was very active in the first six months of 2022. There was a lot of interest in transformers and the smart solutions and digital systems that our company produces. Our export activity has thus increased at an extraordinary pace in recent months, especially in the Romanian, Irish, French and UK markets. In the first half of 2022, several major European utilities and renewable energy developers, including Germany's Enercon and Vattenfall, Spain's EDR and Vestas, and France's Bouygues, approached us for cooperation," said Jan Prins, Managing Director of Ganz Transformers and Electric Rotating Machines.

"Our goal is to make Ganz a company with a strong international presence and reputation, able to serve the needs of international customers as a market leader, especially in the fields of renewable energy and smart solutions,” the managing director added.

ADVERTISEMENT

Sharp Rise in Energy Costs Putting Strain on Competitiveness Analysis

Sharp Rise in Energy Costs Putting Strain on Competitiveness

Parl't approves 2023 budget Parliament

Parl't approves 2023 budget

Danubius Hotels Appoints Group Director of Development Appointments

Danubius Hotels Appoints Group Director of Development

3 Downtown Districts Planning to Introduce 30 km/h Speed Lim... City

3 Downtown Districts Planning to Introduce 30 km/h Speed Lim...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.