The Freudenberg group (D-69465 Weinheim; www.freudenberg.com) has completed a “far-reaching” realignment of its portofolio. With the buying spree largely over, the group now plans to concentrate on integrating the acquired companies, managing board chairman Peter Bettermann said at the recent 2003 results presentation. Over the past four years, Freudenberg has disposed of businesses worth EUR 400m in annual sales, including activities in the shoe and leather products, along with flexible semi-conductors. However, numerous recent acquisitions complementing existing businesses in seals and vibration control technology, nonwovens, household products and specialities will add EUR 500m to the sales total starting in 2004.

Turnover of the German family-owned conglomerate grew by only 1.3% in 2003 to EUR 3.87 bn, due largely to the lower valued dollar, which depressed intake form North American operations. Currency-adjusted sales, by contrast, rose by 3%. While operating profit sank by 26% to EUR 191m, all businesses were in the black.

The seals and vibration control technology division posted sales of just under EUR 2m in 2003. The nonwovens division made up of Freudenberg Vliesstoffe (www.nonwovens-group.de) and Freudenberg Politex Vliesstoffe (www.freudenbergpolitex.com) reported sales of EUR 960m, while the specialities division booked turnover of EUR 673m and household products EUR 548m.

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Freudenberg annual report 2003 as PDF document (962 KB)