Congatec AG sees rise in sales and profitCongatec AG, a manufacturer of industrial computer modules which is based in Deggendorf, Germany, has posted sales of €47.7 million (about $60 million) in its 2011 financial year.
This represents an increase of around 4.2 percent over 2010 whereas profit on sales in 2011 halved to 1.3 percent.
Congatec says it is now number 2 for sales with of computer-on-modules. A study by IMS Research predicted the market volume worldwide for these products was US$ 626 million in 2011, of which Congatec secured a share of around 8%.
Congatec subsidiaries in Taipei, Taiwan and San Diego were able to continue expanding their business. They had a 30 percent share in true company's 2011 sales, which represents a 7 percent increase over the previous year. The workforce worldwide has also increased, from 96 in 2010 to 124 in 2011. Of these, 67 percent work in Germany, followed by the Czech Republic (12 percent), Asia (11 percent) and the US (10 percent).
"Overall, we are very satisfied with Congatec AG’s economic growth," said the CEO, Gerhard Edi. "If you consider that we began in 2005 as a start-up company, what we have achieved since then is remarkable. What are we expecting for the current year? Well, we are cautiously realistic: We see the risks that the Euro crisis might cause in the market place, but also opportunities that we are generating in Asia and the USA through expanding our direct presence on the ground. We are therefore expecting double-figure increases in sales margins and growth in sales for 2012."
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