Ganz broke records in 2023
The net turnover of Ganz Transformers and Electric Rotating Machines Ltd. increased more than one and a half times to €71.55 million in 2023.
Image source: Ganz Transformers and Electric Rotating Machines Ltd.
Hungary, Tápiószele: The net turnover of Ganz Transformers and Electric Rotating Machines Ltd. increased more than one and a half times to €71.55 million in 2023. After its reorganisation in 2020, the heavy machinery manufacturer has launched a series of energy efficiency and production technology improvements, setting the company on a new development path. Half of Ganz’s sales in 2023 came from foreign markets. The company’s profit after tax rose from €2.29 million to €4.45 million.
Ganz has undergone an overhaul in recent years and has significantly increased its sales in all four divisions, Transformer, Rotating Machines, Intelligent Solutions and Service, in the domestic and international markets. Due to successful export orders, its transformers, motors, and generators are now used in the energy and environmental industries in most European countries, and in the Middle East.
The company launched its Intelligent Solutions digital monitoring system for transformers in 2022. This can now be integrated into rotating machines as well. At the end of 2023, Ganz Rotating Machines Division signed six new international orders for a total of €4.3 million. The company is making an active contribution to the Hungarian and international green energy transition.
“We want to continue to create a company that can build on the Ganz brand’s traditional market roots and continuous innovation to become one of the most respected manufacturers of transformers and rotating machines, both domestically and internationally,” said Jan Prins, Managing Director of Ganz.
Ganz will continue its investment programme: at the beginning of the year, it launched a €12 million investment in the technological development of its rotating machine factory, with the purchase of new equipment and the modernisation of existing equipment, aiming to make production processes more efficient to meet the ever-growing orders in Hungary and abroad.
Source: Ganz Transformers and Electric Rotating Machines Ltd.
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