09/07/2024 – Annual report 2023 — auf Deutsch lesen
Sandler deals with the energy crisis
The nonwoven specialist Sandler AG is looking back on a difficult financial year 2023. Meanwhile, energy prices have declined, and the measures introduced are taking effect.
„The past business year was not satisfactory”, said Dr. Christian Heinrich Sandler, Chief Executive Officer & Chairman of the Management Board. However, “the business situation has stabilized”. © Sandler
The aftermath of the Ukraine war in particular had a significant impact on Sandler Group’s 2023 balance sheet. However, the nonwoven manufacturer has bottomed out and is on its way to stabilization.
The Group – which includes Sandler AG (Schwarzenbach, Germany) and Sandler Nonwoven Corporation (Perry, GA, USA) – achieved sales of 338 million euros in 2023. In the previous year, revenue amounted to 420 million euros, the company reports. The decline in turnover primarily affected the AG. In contrast, business at the Sandler Nonwovens Corporation developed in a “stable” manner. As a result of the decline in sales, the company also had to accept a negative result for the year.
The cause of this “undoubtedly unpleasant development in 2023” is, in particular, the exploding costs for electricity and natural gas which also hit Sandler full force last year. Added to this are the “very unsettled global framework conditions”. This has put a heavy strain on the Group's competitiveness, as volumes were lost in the short term. Especially in the Hygiene and Wipes fields of application, the decline in sales was significant.
More orders allow Sandler to look ahead again
„The past business year was not satisfactory”, regrets Dr. Christian Heinrich Sandler, Chief Executive Officer & Chairman of the Management Board. However, Sandler emphasizes that the company is set for the future. “Sandler AG is on a firm footing and is planning investments in innovative machines and other future projects, which we will continue to finance from internal funds.” Moreover the curve points noticeably upwards again for Sandler in 2024. "The business situation has stabilized," emphasizes the CEO, even if the earnings situation is not yet at the level it was before the energy crisis. The company’s order books are well filled for the third quarter of 2024, so Sandler remains confident: "Things are looking up, and we are also positive and optimistic about the future in terms of expected earnings." The company cites specific reasons for this: Sandler Group has been able to further expand its position in the business fields of acoustics and mobility and is working on promising new developments and sustainable product solutions.
