EQS-News

SBF receives “Growth Champion Award” from major German news magazine FOCUS and online portal Statista

EQS-News: SBF AG / Key word(s): Miscellaneous SBF receives “Growth Champion Award” from major German news magazine FOCUS and online portal Statista 27.10.2023 / 08:30 CET/CEST The issuer is solely responsible for the content of this announcement.

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SBF receives “Growth Champion Award” from major German news magazine FOCUS and online portal Statista

Leipzig, 27 October 2023 – SBF AG (ISIN: DE000A2AAE22; WKN A2AAE2, “SBF”), a listed supplier of lighting systems for rolling stock, municipalities, railways and industry, was honored as one of the fastest growing companies in its industrial sector. With an average annual sales growth of 27 percent (survey period: 2019 to 2022), SBF was ranked eighth in the “electronics, electrical and medical technology” category. The survey was conducted by the major German news magazine Focus in cooperation with the online portal Statista. A list of the 500 fastest-growing companies in Germany is published annually by FOCUS-Business and Statista.

Rudolf Witt, Member of the Executive Board of SBF AG: “The award is a great acknowledgement for the company and especially our dedicated employees. Particularly in recent years, the market environment in our sector has been extremely challenging. The fact that we have managed to keep SBF on track and grow significantly despite disrupted global supply chains, rising procurement costs and a volatile overall environment, makes me extremely proud. With the acquisition of the specialist for electromechanical components, sensor technology and software for industrial applications we will reach the next strategic milestone of our growth strategy this year.”

In July, SBF AG had concluded a purchase agreement for the acquisition of all shares of AMS Software & Elektronik GmbH. The closing of the transaction was originally planned for 30 September 2023, but is now scheduled for 1 January 2024 due to tax and accounting reasons. With the takeover, SBF AG’s operative business will be expanded to include a new business segment. In this segment, SBF will offer electromechanical components, sensor technology and software for industrial applications in the future. Guidance for the fiscal year 2024, including revenue and earnings contributions from the acquisition, will be provided in November.