Recaro Aircraft Seating reports production and revenue record
Growth in revenue thanks to outstanding performance
With 1,900 employees, Recaro Aircraft Seating achieved revenue of 367 million Euros in 2014, well above the previous year’s figure (2013: 337 million Euros). "In 2014 we were able to continue our global growth as planned – the increase in sales of 9 percent even exceeded our expectations slightly," explains Dr. Mark Hiller, Chief Executive Officer and Shareholder of Recaro Aircraft Seating. "We also set a new record in our production figures: Over the past year we have manufactured more than 90,000 seats at our global locations."
This increase is not only due to innovative Recaro products such as the economy class seat BL3530 for short-haul and medium-haul flights, which has been sold more than 240,000 times since its launch. Looking ahead, the company also expanded capacity at locations worldwide to accommodate the market development and growing demand for Recaro products. Furthermore, the positive development is due to efficiency-enhancing measures and the resulting good performance: The high quality level and great delivery performance of the international production network are confirmed by positive ratings from airlines and aircraft manufacturers, for example the Gold Award for "Best Performer" which Recaro has received from Airbus in April 2015. Due to its outstanding processes, the jury of the "Industrial Excellence Award 2015" voted Recaro company headquarters "Best Factory" in Germany at the beginning of May 2015.
Recaro Aircraft Seating also has an extremely positive outlook for 2015: "The year got off to a very good start; our order books are full," says Mark Hiller. "We are assuming that we will increase sales in 2015 by more than 10 percent – surpassing our planning again." The aircraft seat supplier expects growth through product highlights such as the economy class seat CL3710, which is becoming a bestseller in the long-haul segment. After its launch on board KLM Royal Dutch Airlines in 2014, numerous other customer versions of the seat are now following.
In order to support the strong position in the market with innovative products, the company is investing 13 percent of its sales in research and development. In addition, the after-sales portfolio is being further expanded. "We are planning to continue our high growth rate of an average of 10 percent per year in the medium term," says Hiller. "By 2018, the number of employees worldwide is expected to grow to approximately 2,400, with sales expected to increase to around 590 million Euros.
RECARO Aircraft Seating GmbH & Co. KG
74523 Schwäbisch Hall
Phone: +49 791 503-5500