Turbon AG adjusts forecast amid global challenges
December 4, 2023
In the face of economic challenges in Germany and the Middle East conflict, Turbon AG revises its fiscal year earnings forecast amidst transforming its business model, including revitalising its laser cartridge division and expanding electronic manufacturing services.
In a recent development, Turbon AG, a key player in the remanufacturing of laser cartridges and electronic manufacturing services, has been navigating through a challenging economic landscape, shaped by the downturn in Germany and the ongoing Middle East conflict. These external pressures have compelled the company to revise its 2023 fiscal year pre-tax earnings forecast down to between €1.6 and €2.0 million ($1.74 and $2.17 million) from the initially projected €3.0 to €3.5 million ($3.26 to $3.8 million).
The company said they have been actively transforming its business model. A significant part of this transformation is the revival of its laser cartridge division, which has returned to profitability in the third quarter of 2023. This resurgence is part of Turbon AG’s broader strategy to diversify its product range, integrating electronics, plastics, and metal components into new products, thereby expanding beyond its traditional focus on laser cartridges.
The company’s strategy also includes a new electronics manufacturing facility in Romania, set to commence operations in early 2024. This move is expected to bolster the company’s growth in the electric segment. Furthermore, Turbon AG is leveraging its resources and expertise in remanufacturing laser cartridges to enhance its offerings in the Electric segment, particularly in assembly operations.
These developments come as a strategic response to not only the adverse economic conditions in Germany but also the company’s ambition to expand its footprint in the global market, including new initiatives in the United States and the significant expansion of its subsidiary’s activities in Dubai, which have seen a more than 15% increase in revenue compared to the same period last year.
Note: This story was written from a German translation.
Categories : City News
