Stuttgart (dpa / lsw) - The Swabian cable manufacturer Lapp has benefited from its ability to deliver and increased sales by 31 percent last year. The company took in 1.9 billion euros and thus 441 million euros more than in the previous year, as the new CEO Matthias Lapp announced on Thursday in Stuttgart. Earnings before taxes climbed 61 percent to EUR 132.9 million. According to the company, the tax burden is around 30 percent. There was no concrete information on the bottom line profit.
The cable maker explained that strong growth was possible because it had increased capacity and was able to deliver when competitors were struggling. This was also due to the fact that the company stocked up on product inventories. In addition, due to a decentralized distribution of works, it was not so affected by delivery stops from China.
Lapp recorded the greatest growth with an increase of 40 percent in the Americas region. However, the cable manufacturer still makes almost two-thirds of its sales in Europe, the Near and Middle East and Africa. The Asia and Pacific region accounts for 17 percent of sales.
Matthias Lapp took over the managerial position from his uncle Andreas Lapp last year. With its cable and connection technology, the family company mainly supplies machine and plant manufacturers, but also industrial players in the food, renewable energies and electromobility sectors.
In view of the high level of incoming orders, Lapp expects a "further moderate increase in sales" for this financial year.