Banner maintains previous year's sales level

With a slight decline of one percent to 302 million euros, Banner maintained the previous year's sales level in the 2023/24 financial year (1.4.2023-31.3.2024). "The energy crisis in connection with the war in Ukraine and the associated inflation shaped the financial year. Increased competition from Asian manufacturers pushing into the European market, the increasing complexity of the supply chain and the energy crisis are putting pressure on the automotive industry," commented Andreas Bawart, Commercial Director, on the result.

Despite these challenges, the Austrian battery manufacturer's Automotive business unit continues to rely on its tried-and-tested lead-acid technology, which guarantees reliable delivery thanks to in-house production in Leonding. "We can see that the initial euphoria for electric cars has subsided and a certain disillusionment has set in. Many first-time buyers of electric cars are realizing that promised ranges are not being achieved and that public charging facilities are still inadequate," says Andreas Bawart. "This has led to a decline in new electric car registrations, especially after the cuts to some state subsidies in Germany. Regardless of this, more than 90 percent of electric cars will continue to use a 12 V on-board power supply battery based on tried-and-tested lead-acid technology." The company anticipates annual market growth of one to two percent over the next ten years.

Banner's second mainstay is the Energy Solutions business unit. Among other things, it serves the market for electric forklifts and leisure vehicles, from golf carts to caravans. (aum)