Pump manufacturer Wilo Group revealed its financial results for the fiscal year 2023
The company said that it continues to grow profitably and sustainably. The multinational technology group achieved net sales of around US$2bn (AED7.82bn) in the 2023 financial year. This corresponds to a currency-adjusted increase of 10.4% compared to the previous year.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) also reached a new record high of AED 848.27 million. The consolidated net income rose by over 20% to AED 293.96 million. Wilo further quadrupled its cash flow from operating activities to AED 641.09 million.
Sustainability
“On one hand, this excellent development is due to the tireless efforts of our nearly 9,000 employees. They work to achieve Wilo’s success every day,” said Oliver Hermes, president & CEO of the Wilo Group. “On the other hand, it is the result of determined entrepreneurial action. Wilo’s consistent strategic focus on sustainability and diversification has allowed us to remain extremely successful, despite the economic downturn.”
The company said it aims to demonstrate resilient growth in the Middle Eastern market by providing advanced pump technologies for diverse sectors, particularly wastewater management in the MENA region. There is a growing focus on wastewater treatment and the Middle East and Africa, where the pump market is expected to reach US$11.93bn by 2028.
“Our success and financial accomplishments in 2023 are a result of our strategic thinking and steadfast commitment to Wilo’s fundamental values. As leaders in the industry, we understand the key roles innovation and sustainability play in fostering long-term success and maximising value for our stakeholders. Sustainable practices are woven into our choices, products, and partnerships, and will continue to be the base of our operations,” Yasser Nagi, group director of Wilo Middle East and North Africa, stated.
Wilo offers a wide range of intelligent pumps and solutions for efficient and sustainable water management needs.
