Annual Report 2024
Connections that ensure the future reliability of our energy infrastructure
Intro
Who we are and what we stand for
PFISTERER is a leading global technology company that has been providing innovative solutions for reliable connections in electrical power grids for over 100 years. As a supplier that is independent of cable manufacturers, the company develops, produces and sells high-quality electrical connection and insulation solutions for all voltage levels - from generation and transmission to distribution and consumption. With state-of-the-art production facilities, high quality standards and technological expertise, PFISTERER is a reliable partner that is leading the way in efficiency and innovation in a rapidly growing market.
About PFISTERER
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Our solutions actively contribute to ensuring the efficiency and reliability of our electrical energy infrastructure reliable - from generation to transmission and distribution of electrical energy.
Generation
PFISTERER offers customized solutions for all forms of power generation. For offshore wind projects, the company supplies reliable connection technology that can withstand the harsh conditions prevalent in oceanic environments. For onshore wind turbines, PFISTERER has developed pluggable connection systems up to 36 kV, while for solar energy, PFISTERER offers comprehensive solutions that ensure the efficient integration of solar power to the grid. The company also offers high-quality connection technology for conventional power plants.
Transmission
PFISTERER offers state-of-the-art solutions for energy transmission in order to meet the growing global demand for electricity, while ensuring safety and efficiency. These innovative products provide critical contributions to the modernization and expansion of power grids. For underground cables, PFISTERER offers high-performance cable accessories up to 550 kV. For transmission lines up to 1,100 kV, Pfisterer offers reliable insulators and transmission line hardware that withstand extreme environmental conditions. Modular solutions for substations and pluggable connection systems simplify and expedite installation and maintenance and contribute to ensuring a reliable future for our energy infrastructure.
Distribution
PFISTERER components are used extensively in distribution networks, including electric charging stations, electric trains and substations, thereby enabling electric utilities to optimize their distribution infrastructure. In substations, the company offers innovative connection technologies that are compatible with many different types of cable. In the field of electric mobility, PFISTERER equips modern high-capacity charging stations with advanced distribution technology that enables several vehicles to be charged simultaneously at high power settings. Our safety technology ensures maximum reliability and ease of use.
Executive Bodies
Focused Management
PFISTERER Holding SE is led by an experienced management team headed by Johannes Linden and Dr. Konstantin Kurfiss. The Supervisory Board, chaired by Prof. Dr. Wolfgang Blättchen, includes experts in the fields of finance, technology and corporate management. Together, the Management Board and Supervisory Board are committed to a forward-looking corporate strategy and the sustainable future development of PFISTERER.
Our Management Board and Supervisory Board from left to right: Prof Dr. Petra Denk, Dr. Konstantin Kurfiss, Karl-Heinz Pfisterer (Honorary Chairman of the Executive Board) , Johannes Linden, Prof. Dr. Wolfgang Blättchen, Matthias Benz, Erich Schefold, Dr. Stefan Seipl
« Our innovative strength and operational excellence are the key to an efficient and secure energy infrastructure. We focus on sustainable solutions to position PFISTERER for the future. »
Johannes Linden
Board member/Spokesperson
« With our technology, we are actively shaping the energy transition while ensuring stable and efficient grids. Our focus is on reliable connections for the energy transmission and distribution of the future. »
Dr. Konstantin Kurfiss
Board member
« A long-term strategy and strong corporate governance are the basis for sustainable growth. The Supervisory Board supports PFISTERER in continuously enhancing its position as an independent technology company. »
Prof. Dr. Wolfgang Blättchen
Chairman of the Supervisory Board
Key Financial Results
Key Financial Results 2024
Revenue in EUR million
383.1
+14.7%
Order Intake in EUR million
423.2
+18.6%
adj. EBITDA Margin in %
16.9
+1.3pp
Order Backlog as of 31.12. in EUR million
234.9
+21%
Operating Cash Flow in EUR million
42.6
+104.5%
Net debt as of 31.12. in EUR million
66.2
-29.0%
R&D Ratio in %
5.6
+0.2pp
NWC as % of Revenue
25.8
+1.3pp
Employees as of 31.12.
1,239
+9.6%
Market Potential
Megatrends and Market Potential
Resilient Megatrends
Sustainable megatrends such as increasing demand for electricity, decarbonization, urbanization and the expansion of data centres are driving growth in the energy sector. At the same time, growth in renewable energy is resulting in the increased decentralization of electrical power generation, as well as changes in the distance between generation and consumption, all require innovative grid solutions, which PFISTERER's technologies are designed to provide.
Investment Backlog
Driven by decades of underinvestment, the global investment backlog in transmission and distribution grids offers considerable growth opportunities, as leading electric grid operators are increasingly investing in the modernization and expansion of their infrastructure. PFISTERER benefits from these long-term investment plans, which are decreasingly influenced by economic fluctuations and ensure stable demand for innovative connectivity solutions.
Dynamic Developments
The electrical energy sector is experiencing dynamic changes, characterized by increasing electrification, disruptive technologies and the growing importance of renewable energies. PFISTERER is responding with innovative solutions that meet the increased demands on electrical networks while ensuring safe and efficient power transmission and distribution in a changing electricity landscape.
Market addressable by PFISTERER in EUR billion
Strategy
Growth Strategy
PFISTERER is actively pursuing a growth strategy based on three key pillars: the expansion of our core business, the development of new markets and the promotion of innovation. Our global production and sales network, supported by a high-performance supplier and logistics network, guarantee the worldwide availability of our products - even in a demanding, knowledge-intensive market environment.
The foundation of our strategy is the scalability of our existing manufacturing footprint, modern production facilities, state-of-the-art laboratories and innovative technologies. This enables us to develop markets with high growth potential and to continuously drive technological advances, particularly in the areas of high-voltage direct current (HVDC) and extra-high voltage (EHV) transmission.
With our accessible markets growing by of over 11% per year, we are focusing not only on strengthening our position in existing markets, but also on expanding our footprint in currently underserved regions such as North America, the Middle East and India.
ESG
ESG Agenda
PFISTERER continues to accelerate its commitment to sustainability. In 2024, Scope 3 emissions were recorded for the first time, a sustainability committee was established and key performance indicators were introduced to monitor improvements. In addition, PFISTERER has prepared itself for the upcoming sustainability reporting (EU Corporate Sustainability Reporting Directive, CSRD) and carried out a double materiality analysis.
Reducing emissions
PFISTERER aims to reduce its Scope 1 and 2 emissions according to the EU Corporate Sustainability Reporting Directive by 90%1 by 2029 and to offset all remaining emissions by 2030.
CO2e emissions Scope 1, 2 and 3 (comparison 2024 and 2023)
t CO2e
Energy efficiency
PFISTERER aims to increase its energy efficiency and promote the use of renewable energy. To achieve this, the company has switched to electric vehicles, set up charging stations, expanded photovoltaics and implemented various measures to increase energy efficiency.
Waste prevention and recycling
To reduce waste, training has been completed, processes have been improved and technical upgrades have been installed. The aim is to increase the recycling rate each year. In 2024, it stood at 74.86%.
1 Compared to 2020
PFISTERER One World
PFISTERER One World is a newly launched program that provides a framework for consolidating global efforts. The aim is to achieve a lasting, positive impact through events, donations and joint activities.
Further training
To protect the safety of employees and promote their skills, PFISTERER offers various training courses and e-learning opportunities.
Employee training 2024
9,146 h
2023: 6,002 h
Accident rate
PFISTERER pursues a ZERO accident policy with the aim of achieving an annual reduction of 10%.
LTIR (Lost Time Injury Rate) 2024
10.25
2023: 14.35
Integrity
PFISTERER's company-wide Code of Conduct and the compliance and risk management system ensures consistent adherence to rules and ethical principles.
Confirmed compliance violations in 2024
0
2023: Not specified
Information security management
PFISTERER has implemented a customized Information Security Management System (ISMS) to meet industry and stakeholder requirements and ensure a robust and cyber secure supply chain.
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All information on the 2024 fiscal year can be found in these documents.
