The Hirschvogel Group is growing in the direction of green business
Dear Business Partners,
I have been CEO of the automotive supplier Hirschvogel for almost exactly a year now. Alongside me at the helm of this global family-owned business are Walter Bauer, who took up the post of CFO at the end of 2020, and Dr. Dirk Landgrebe, who has been COO since the beginning of 2021.
It is our mandate and our goal to drive forward transformation at Hirschvogel. In doing so, we want to actively shape the move in the industry towards carbon-free mobility – together with our employees worldwide and in cooperation with you, our business partners.
We already set a number of things in motion in 2021, starting with the realignment of our strategy: In the future, Hirschvogel will consistently grow in the direction of “green business”. As much as 65 percent of our investments last year flowed into this area. In 2025, we want to generate 50 percent of our sales with “green” products; by 2030, this figure should stand at more than 70 percent.
To achieve this, we are pursuing a multi-pronged approach: In the automotive-related components business, we are rigorously expanding the production of components that are drive-independent and designed for E-mobility. Besides this, we will continue to be a reliable supplier of components for vehicles with combustion engines for as long as there is a demand for them.
At the same time, we are seizing the opportunities presented to us by the reorganization of the mobility market. By acquiring stakes in other companies, we are aiming to grow into new technologies or markets – both within as well as beyond the automotive industry. Our component platform for micromobile vehicle concepts presented at the IAA Mobility 2021, our involvement in the E-bike sector, and our investments in the direction of mobility-related electronics systems and software are examples of this.
The Hirschvogel Automotive Group has become the Hirschvogel Group
Our new corporate structure reflects the transformation. At the turn of the year, the Hirschvogel Automotive Group became the Hirschvogel Group. Now, the components business and investments are united under the umbrella of Hirschvogel Holding. The nine production sites worldwide are responsible for the components business.
Sustainability in products and production
Components and products for carbon-free mobility are one aspect. Climate-neutral production, as targeted by EU policy for 2050, is the other. This is a task that involves high investments for Hirschvogel as a metal processing company. Here, too, we took important steps in 2021, centralizing sustainability management and initiating a decarbonization strategy. At the same time, we are working on photovoltaic projects worldwide and – with a view to an increasing electrification of our energy-intensive production – we are also striving to gradually reduce our natural gas consumption.
The transformation presents challenges for us all, particularly with the added burden of increasing geopolitical uncertainties affecting the global market. It can only succeed if there is fair cooperation between companies, politics, and society.
Even though the Hirschvogel Group has set itself a number of goals for the coming years, we are nevertheless proceeding with caution. We plan to develop somewhat faster than the market, with a key focus on growth in the area of E-mobility products. Our high level of manufacturing expertise allows for flexibility and change. Sound economic management gives us room for necessary investments.
The full impact of the war in Ukraine on the European and global economies cannot yet be estimated. Even if we are able to secure our raw material supplies of steel and aluminum by acting quickly, we are ultimately dependent on our customers’ production capabilities. 2022 will therefore continue to be a highly challenging year.
Nevertheless, I am delighted to be CEO of such a versatile, innovative, and growth-oriented family-owned company – and I look forward to continued cooperation with you.
Jörg Rückauf, CEO, Hirschvogel Holding GmbH