The construction industry is under pressure. The energy crisis in 2023, labor shortages, high material costs, rising wages, and interest rates. Under these circumstances, the Schüco Group was unable to continue its global growth and ended the financial year with total sales of €2.11 billion, which is 7.4% less than the previous year.
The past year was particularly difficult in the field of PVC window systems, where the decline was nearly 18%. Total sales amounted to €345 million.
The German market suffered from a worsening situation with orders in residential construction. Meanwhile, the markets of Belgium, the Netherlands, Luxembourg, and Turkey managed to exceed their sales compared to the previous year.
The situation is better in the market for metal structures (aluminum and steel). The division achieved global sales of €1.77 billion, which is 2.7% less than the previous year.
Positive changes occurred in India, China, and South America, while Europe was heavily impacted by supply chain issues and raw material prices. Although the markets in France, Italy, and the Iberian Peninsula held steady, Lithuania and the Czech Republic showed positive changes.
The factors responsible for the construction crisis in 2023—high energy and material prices, rising wages and interest rates, labor shortages, regulatory obstacles, and the war in Ukraine—continue to negatively affect developments in 2024. The company sees no signs of short-term improvement.
In 2024, Schüco will continue to focus on decarbonizing building envelopes. For example, the company has released a plastic profile made of bio-PVC. This PVC has the same properties as regular PVC, but its polymer matrix is 100% derived from plant-based raw materials.
Photo: Stefan Brückner (c) Schüco International KG
In 2023, the Schüco Group achieved annual sales of €2.11 billion with 6,750 employees.
Schüco: The past year has been particularly challenging in the field of PVC window systems
ID no: 23262
Nov 27, 2024
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