New records set at Recaro Aircraft Seating
Recaro Aircraft Seating reported this week that it increased its sales by almost 11% to €452 million (US$486 million) last year. For the first time, the company said it recorded a delivery volume of more than 100,000 seats. Close to one-third of the products sold in 2016 were new products.
“Over the past ten years, Recaro has grown organically by almost 10 percent per year, making it one of the fastest growing companies in our industry. With innovative products, new service concepts, a growing customer base and many new orders, we were able to build on our success last year and establish a strong platform for capacity and workforce expansion,” said Dr. Mark Hiller, Chief Executive Officer and Shareholder, Recaro Aircraft Seating in yesterday’s announcement.
More than a third of the products sold in 2016 are less than three years old. In 2017, the figure will rise to more than 40% said the company. The company’s “Add Value” concept, was presented at this year's Aircraft Interiors Expo (AIX) in Hamburg. It includes, among others products the I-Seat, which can be used with an app on the passenger’s personal mobile phone, as well as antibacterial solutions.
“An absolute highlight was our Flex-Seat within the Smart Cabin Reconfiguration concept, with which we won the Crystal Cabin Award in collaboration with Airbus,” said Hiller. “These seats can be moved quickly and easily – therefore enabling seat spacing to be increased for passengers when flights are not fully occupied.”
At the end of 2017, Recaro’s 6,000 square meter logistics center will be opened at the company headquarters in Schwaebisch Hall. The facility is a €13.5 million (US$14.4 million) investment. At the company’s newest production site in Qingdao, 10,000 seats were produced in 2016 – twice as many as in the previous year. For 2017, a further doubling to 20,000 seats is planned and secured by order volume. Due to positive developments at the Chinese location, the company said plans are now being made for further expansion in the coming years.
“We are in a very good position, especially in terms of our innovative strength, delivery performance and high quality. We also have the right solutions to address current trends in flexibility and connectivity with our Flex-Seat and I-Seat,” said Hiller. “In 2018, we will exceed the 500-million-euro mark. This strong growth is only possible thanks to our employees’ exceptional dedication, as well as their close identification with both the company and the Recaro brand.”