Banner Group posts record sales revenue

Date: Thursday 22 June 2023

---

Banner’s latest financial report serves to highlight the positive impact its ‘Agenda 2030’ Corporate Development Strategy is having on the Group performance as one of Europe’s leading manufacturers of automotive batteries and battery accessories.

Despite having faced challenges in regard to costs and supply chain issues, Banner has posted a record sales revenue for its 2022/23 financial year (1st April 2022 to 31st March 2023). Having enjoyed a more than 7 per cent increase in sales revenue, standing at EUR 307 million, Banner’s sales of starter batteries totalled 4.1 million.

And having only recently announced its intention to establish a major presence in China following the signing of a major licensing agreement with leading battery manufacturer, LEOCH, coupled with an extension of the licensing partnership it enjoys with Duracell, Banner has its sights set on further market expansion in both Europe and Asia.

As Andreas Bawart, Banner Group’s Commercial CEO, points out:

“The Group’s extremely positive performance and ongoing development in the face of what continues to be testing conditions, is testimony to Banner’s innovative stance when it come to product development, coupled with the fact that demand for the quality of our products remains strong across all countries and continents.”

Whilst due to the turbulence caused by factors such as a lack of semiconductors and wiring harnesses the 2021/22 financial year saw the OE market segment decline and make a loss, improved supply assisted its partial recovery in 2022/23. At present, OEM business accounts for just under 30 per cent of Banner’s automotive business unit sales, the remainder emanating from the aftermarket sector.

Central to Banner’s recent ongoing success has been the investment in the last three years of over EUR 25 million in the development of its Leonding location. As Andreas Bawart adds:

“Our main focus has been and remains on the optimisation of order-related production, future-proof planning and logistics capacities, increasing production depths, and the digitalisation and the permanent improvement of our processes.”

Commenting from a UK perspective, Banner’s Country Manager, Lee Quinney said:

“The performance of the UK aftermarket operation is aligned to the achievements that the Group has realised over the last financial year, 2022/23 being another record twelve months for Banner GB. And whilst demand from the automotive sector has been particularly buoyant, sales in the CV, leisure and bike sectors have also exceeded forecasts. This can largely be attributed to not only the quality of Banner’s product offering, but also the strength of the brand at O/E level. Not surprisingly, we expect this upward trend in sales across all markets sectors to continue for the foreseeable future.”

 

---