Global technology powerhouse Freudenberg Group has reported record growth for the financial year 2024, driven by its innovation-led strategy and expansion into high-growth sectors such as medical technology and energy solutions. The company posted sales of €11,947.5 million, a modest 0.4% increase over the previous year, despite a negative currency impact of €76.9 million.
Operating profit rose by 4.7% to €1,132.4 million, while the profit margin improved to 9.5%, up from 9.1% in FY23. These gains come even as sectors like automotive and machine-building continue to face global headwinds. Freudenberg’s stable equity ratio of 56.8%, along with healthy cash flow of €1,288.9 million, underscores the group’s financial resilience and long-term investment focus.
In India, Freudenberg delivered impressive growth, with sales reaching INR 4,015 crore, up from INR 3,803 crore in the previous year. Operating across 11 companies and employing around 3,678 people, the group continues to deepen its footprint in the country. A major highlight was the inauguration of a new production facility in Morinda by the Vibracoustic Business Group and Freudenberg-NOK India, a joint venture targeting the automotive sector.
Dr Mohsen Sohi, CEO of the Freudenberg Group, who is set to retire in June 2024, noted, “Despite a challenging market environment, we achieved stable growth. This success enables us to invest significantly in future capabilities—across R&D, infrastructure, and advanced technologies. Freudenberg always acts with a long-term view.”
Reflecting on long-term performance, Sohi added that over the years, Freudenberg’s sales and profits have doubled, with R&D investment tripling, growing at a compounded annual rate of over 10%. Leadership of the group will now transition to Claus Möhlenkamp.
In India, G Sivasailam, Director & CEO of Freudenberg Regional Corporate Center India, emphasised the group’s commitment to customer-centric innovation and sustainable growth: “Freudenberg’s growth in India reflects our strategic investments and focus on R&D. With facilities like the new Morinda plant, we aim to deliver greater value while contributing meaningfully to India’s industrial evolution.”
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