Webasto is selling its charging station business

Webasto electric charging station

The company puts up its branch of charging stations for sale.

(Photo: Webasto Group)

Frankfurt / Munich Automotive supplier Webasto is looking for a business partner with charging stations and cables for electric cars. “We can see that the full potential cannot be realized at the moment,” explained the company upon request. “So we decided to look for a partner who would support the positive development of the charging area.” The Bavarian company thus confirmed information from Handelsblatt from financial circles. The market for charging solutions is very dynamic and offers great development opportunities, Webasto advertises buyers for this business area.

According to experts on the situation, the group hired the investment bank Jefferies to search for an investor. Industry circles emphasized that no decision had yet been made. Webasto, however, does not want to completely separate from the division. The company itself pointed out that the industry is in the consolidation phase. Jefferies declined to comment.

At Webasto, the charging technology industry is unusual. Automobile manufacturers are the main customers when it comes to auxiliary heating, sunroofs and batteries. On the other hand, charging stations are set up and operated by very different suppliers around the world. Therefore, other sales channels are in demand.

Webasto’s portfolio includes charging cables, mobile charging stations and wall boxes for private individuals and commercial customers. Important sales markets are Germany, the rest of Europe and the USA. Wall boxes and cables are manufactured in Schaidt (Rhineland-Palatinate), Irapuato (Mexico) and Wuhan (China).

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Last year, Webasto reached EUR 155 million thanks to activities related to electromobility. This is twice as many as the year before. In addition to charging technology, the department also includes battery systems and electric heaters. The division is expected to achieve sales of one billion euros by 2025. According to industry estimates, tens of millions of revenues should be generated recently in the charging area.

Electromobility remains the sales engine

Webasto has noticed growing demand in this area. However, the group has been in the red for two years. CEO Holger Engelmann said during the presentation of the balance sheet: “We will continue a consistent austerity course.” Everything that growth promises can no longer be invested.

Red numbers

146

Millions of Euros

Webasto suffered a loss last year before interest and taxes.

Webasto is one of Germany’s 15 largest automotive suppliers and is fully family owned. The company became known to a wider audience as the first German crown took place there. The company specializes primarily in panoramic glass roofs and parking heaters.

An automotive supplier is fighting on several fronts. Like the competition, the group suffered the consequences of the crown pandemic. Car sales have dropped at times, supply chains have been disrupted, and material costs are rising.

In addition, there were domestic problems with a large order from Ford for the roofs of the new edition of the Bronco icon. The new Detroit plant opened late, Ford had to delay initial deliveries and replace thousands of hardtop roofs due to quality issues. The unsuccessful launch of the product cost 200 million euros.

>> Read about it: The Bronco disaster in Webasto: the auto roof specialist is in the red

Before interest and taxes were deducted, Webasto suffered a loss of EUR 146 million last year. This is one of the reasons why the group wants to focus even more on its core departments.

More: Webasto and other corporations are building firewalls against global crises

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