FRIWO Reports Revenue Decline Amidst Weak Demand, Aims for Growth by 2025

FRIWO AG, an international technology leader in chargers and e-drive solutions, has reported a 28% fall in revenue, amounting to 64.4 million euros over nine months, as need in the e-mobility and tools segments remains weak. Cost efficiency measures, however, limited the EBIT loss to -2.9 million euros. A positive EBIT was recorded in the third quarter at 0.1 million euros.

The joint venture in India is a bright spot with expected growth in 2024. Despite challenges, FRIWO has adjusted its 2024 outlook downwards, now forecasting sales between 90 and 95 million euros. The company expects a return to profitable growth from 2025 onwards, driven by its strategic international expansion.

Despite a slight increase in incoming orders, the backlog decreased. Employee numbers fell from 1,701 to 1,138, reflecting the overall weak demand. FRIWO remains financially stable, benefiting from extended loans until 2025.