DELO, a manufacturer of industrial adhesives for the automotive, consumer electronics, and semiconductor industries, generated revenues of almost €205 million ($222 million) during fiscal year 2022/23, ending on March 31. This is an increase of 12% compared to the previous year. Japan and the United States particularly drove growth for the adhesives manufacturer.

The Americas’ share of total sales rose to 18%. Asia, the company’s largest market, declined to a 48% share of sales. A further 34% of revenues were recorded in Europe. At the industry level, the main pillars were the semiconductor, automotive, and consumer electronics industries.

"The past fiscal year was very successful, but at the same time very challenging," explains Dr. Wolf Herold, managing partner at DELO. "While Russia doesn't play a role for us as a market, the war in Ukraine led to sharply rising raw material prices, complicated logistics to Asia, and major uncertainties in energy supply."

As in previous years, investments in research, development, and expansion accounted for approximately 15% of turnover. In the last fiscal year, DELO moved into new or enlarged premises in Shenzhen, China; Seoul, South Korea; and Boston and San José, United States. The search is currently underway for a new production site in Southeast Asia, while construction on a fully automated, 6,000 m² warehouse in Windach, Germany, is set to begin this year.

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