FORTACO AS AN INVESTMENT
TOGETHER WE SHAPE YOUR INDUSTRY.
Fortaco’s diversified industry exposure provides protection from cyclicality.
ANNUAL REPORT 2023
Fortaco celebrated its 10th anniversary at the beginning of 2023. I am very proud of having been a team member all these years. Together we have experienced a lot in building Fortaco. Since its establishment, the company is three times bigger now and one of the European leaders in the cabin industry and steel fabricated components.
2023 was another year with a lot of deliveries. Our organic growth continued, and we accelerated the acquisition of Buisard cabins in Sablé, France, from 35 per cent ownership to 100 per cent. We acquired MauserCABS in Breitenau, Austria. In addition, a cornerstone ceremony took place in Gliwice, Poland, where we are constructing a new, highly-efficient steel fabrication operation.
Together with Tata AutoComp and key customers, we inaugurated a cabin manufacturing factory in Pune, India. We are increasing the level of robotization and expanding capacity in Holic, Slovakia by 100 per cent through a factory extension. We are also increasing robotization and expanding capacity in Narva, Estonia by 30 per cent through an acquisition of a new factory hall close to existing operations.
We have introduced Fortaco’s Sustainability Program and appointed a Sustainability Director who will lead Fortaco to be a recognized circular economy enabler. We will implement a climate program, and our Zero Emission Solutions function will deliver customers new business, like electrification-related solutions. We will use an increased amount of renewable and recyclable raw materials. We have won new, global customers to broaden our capabilities and offerings.
Yes, we have achieved a lot, thanks to our customers, business partners, the Fortaco family team, and Fortaco Supervisory Board.
Lars Hellberg
President & CEO
Net sales
EBITDA ¹)
Net sales proforma
EBITDA ²)
Personnel ³)
LTIF ⁴)
1) Excluding non-recurring items.
2) Including the full year impact of MauserCABS and Buisard and excluding the impact of marine, energy, and heavy project business. Excluding non-recurring items.
3) Including rental people
4) LTIF – No. of injuries per million working hours.
FORTACO IS THE LEADING STRATEGIC PARTNER TO THE HEAVY OFF-HIGHWAY EQUIPMENT AND MARINE INDUSTRIES
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