After years of strong growth, 2023 was a year of consolidation. Turnover was just below the previous year’s level (- 4.3% to around 3.65 billion euros). Festo continued to invest heavily in research and development and the expansion of regional market supply. The company sees good opportunities for growth again in the medium term. The automation of future markets, but also the qualification of the specialists required for this, offers Festo great ...

Oliver Jung (61) will leave his position as Chairman of the Management Board of Festo SE & Co. KG as planned on expiry of his current mandate. The Supervisory Board has appointed Thomas Böck (52) as his successor. Mr. Böck will join the family-owned company as the new Chairman of the Management Board on 1 January 2024.

The Festo Group achieved double-digit growth for another year in a row. Sales rose by 13.4% to €3.81 billion in 2022 (previous year €3.36 billion). Festo intends to continue growing in 2023. Innovative automation is the enabler for the industrial transformation towards renewable energies, sustainable production, hydrogen and circular economy.