Festo is an independent family-owned company and a global player in automation technology and technical education, with headquarters in Esslingen a.N. (Germany) – with over 20,000 employees at around 250 locations worldwide, a turnover of around 3.5 billion euros and an R&D rate of over 8%. As a partner in motion, Festo offers integrated and seamless pneumatic, electric and digital drive technologies across all industries – including software and AI solutions as well as customized training concepts – for 300,000 customers in over 35 industries...

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 potential for sustainable growth in the Automation and Didactic business. This includes segments...

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 has achieved the highest turnover in its history for the 2021 financial year. After a double-digit growth in turnover of around 18% to 3.36 billion euros (previous year 2.84 billion euros), the company started the first quarter with a double-digit order intake. This puts the innovation leader in automation and technical education in a good starting position to push ahead with its strategic orientation towards digitalisation and sustainability at full speed in 2022. The company expects further growth even under the current...