Westfalen AG breaks record: EBIT over 100 million euros!

Westfalen AG breaks record: EBIT over 100 million euros!

Westfalen AG presented its balance sheet for the 2024 financial year today, continuing its success story. With an EBIT of 103.5 million euros, the company exceeded the 100 million mark for the first time, which is a new record in the company's more than 100-year history. This positive result was partly boosted by a one-off effect from the sale of a former factory site, such as Braunschweig newspaper reported.

Despite the encouraging figures, the company remains cautious. Investments fell short of plans, influenced by political uncertainty. Chairman of the Board Dr. Thomas Perkmann highlighted the company's competitiveness and customer proximity and emphasized that around 50% of the result comes from potentially low-emission areas. In the area of ​​CO2 emissions, Westfalen AG has achieved an impressive reduction of 67% since 2019, thereby already meeting its original climate target for 2030 ahead of schedule. The general goal is to reduce CO2 emissions to net zero by 2030.

Growth and innovation

Westphalia is proving stable in its core business with industrial gases, despite the ongoing weak economy and volatile energy prices. The company supplies around 40,000 commercial customers with gases and this year opened a new bottling plant in northern Germany and on the French Atlantic coast. In addition, sales at around 260 gas stations remain at a high level. In order to meet the requirements of the future, the expansion of alternative drive energies is being pushed forward: 100 fast charging points and 32 new charging points were added last year.

Westphalia is also committed to a sustainable future, for example by introducing HVO (hydrogenated vegetable oil) at selected gas stations. The demand for heat pumps is increasing; In this context, the company is involved in a district heating and boiler technology GmbH in Oberhausen. Sales in the propane business also remain stable and the portfolio is being expanded to include bio-LPG. In the respiratory homecare sector, the company is recording strong growth in Germany and the Netherlands.

The importance of hydrogen

Due to political uncertainty, Westfalen AG has revised its hydrogen strategy. Hydrogen is seen as a key technology for the energy transition, which is also supported by the daily news is underlined. Hydrogen plays a central role in the national hydrogen strategy (NWS), which was designed by the federal government to create the framework for the production, transport and use of hydrogen. The NWS aims to establish new value chains for the German economy and promote the market ramp-up of hydrogen technologies.

Hydrogen could help to significantly reduce CO2 emissions in industry and transport. The federal government has set itself the goal of achieving climate neutrality by 2045. The increase in green hydrogen, which is produced from renewable energies without CO2 emissions, will be of central importance. The need for green electricity and corresponding investments in infrastructure are essential.

The NWS includes 38 measures intended to strengthen competitiveness and research in this sector. Economics Minister Robert Habeck has also emphasized the importance of hydrogen internationally, including in Qatar and India, to replace fossil fuels and store excess electricity. Despite this progress, there are challenges, such as the necessary conversion of industrial facilities and the development of a network of filling stations.

Overall, Westfalen AG is optimistic and adaptive, even if the company is faced with challenges in the industry. Future development in hydrogen will be crucial to meet the demands of the energy transition while managing investments in an uncertain political environment.