Despite Challenges: HENN Connector Group Drives Internationalization Forward
The HENN Connector Group reflects on a challenging yet dynamic year in 2024. Despite difficult market conditions in Europe, strong cost pressures, and a highly uncertain global geopolitical situation, the company has continued to advance its strategic goals. With revenue of €158 million, the group maintained the previous year’s revenue level and remains focused on transformation and geographic expansion. “In the future, the global localization of production will be a decisive success factor. Particularly in Europe, massively increased location costs have temporarily moved it onto the ‘breakdown lane’ and, unfortunately, somewhat off the fast lane,” explains Martin Ohneberg, owner and Group CEO.
Internationalization and Innovation as Growth Drivers
A key focus of the past year was further internationalization. The opening of new locations on January 15, 2024, in India (assembly plant in Chennai and technical center in Pune) marked a milestone in accessing the Indo-Pacific market. Expansion into Mexico is planned for the first half of 2025, while the location in China is being further developed. These steps emphasize the strategic importance of these growing markets for the company.
In addition to internationalization, HENN was once again recognized as a “Great Place to Work” and was nominated for the Austrian State Prize for Innovation.
Automotive: Growth Despite Challenges
The Automotive division exceeded expectations despite overall uncertainties, surpassing the €100 million revenue mark. International growth was particularly strong: revenue in the USA/Mexico increased by an impressive 26%, and in Korea by 18% compared to 2023. In contrast, Europe experienced a decline of around 10%. Extremely positive feedback from customers on new developments in the electromobility sector highlights future potential. Initial large orders from global customers in the New Mobility segment affirm this path. However, the outlook remains cautious: “With our modular and innovative product portfolio, we are very well-positioned. However, the global economic and geopolitical uncertainties present challenges,” says CEO Matthias Nicolussi.
Non-Automotive: A Difficult Year with Bright Spots
The Non-Automotive sector, represented primarily by the German subsidiary EISELE, performed surprisingly weaker than the Automotive sector in 2024. A strong focus on the German market and dependency on plant engineering led to a revenue decline of nearly 9% compared to the previous year. Nonetheless, EISELE managed to hold its ground reasonably well in a competitive environment. “Our strategic efforts to expand sales globally are showing initial successes in relevant markets, despite ongoing challenges in Germany. This gives us confidence for the coming years,” says Johannes Jeitler, CEO of EISELE.
HENNgineered: Successful Diversification of Technologies
The HENNgineered division—an innovative manufacturing service provider—exhibited mixed performance across its various business areas. Medium-term expectations include benefiting from consolidation in the injection molding sector. Division CEO Christoph Jandl states: “Economic conditions continue to challenge us. Nevertheless, we have deliberately invested in new manufacturing technologies, including 3D printing and machining, to strengthen our position. These investments form the basis for positive developments in incoming orders.”
Outlook for 2025: Focus on Growth Markets and Innovations
“The opportunities for 2025 lie in consistent transformation, localization of production, partial organizational adjustments, and digitalization. Managing this amid global uncertainties, including potential additional trade conflicts and unfavorable location costs in Europe, remains challenging.
However, we remain cautiously optimistic for the coming months because we are purposefully investing in future-oriented topics that provide us with both stability and growth prospects. This lays the foundation for sustainable growth,” says owner and Group CEO Martin Ohneberg.