Lübeck, Germany – Possehl Group, the Lübeck-based conglomerate which includes tire and rubber machinery maker Harburg-Freudenberger Maschinenbau GmbH (HF), has reported a “successful” financial year.
Preliminary figures issued 15 Feb, show that Possehl grew consolidated sales – adjusted for the proceeds from precious metals sales and exchange effects – by 8% year-on-year to €3.8 billion in 2017.
Earnings before interest and taxes (EBIT) rose to €176 million. This was about level with the ‘EBIT before one-off income’ figure of a year ago.
“We outperformed our growth forecasts and…