Our year 2024
at a glance

In the automotive business, we managed the year remarkably well. In 2024, global vehicle production fell for the first time since the post-COVID recovery. This led to a decline in volume and sales in our two divisions, BENTELER Automotive Components (BAC) and BENTELER Automotive Modules (BAM). Despite these difficult conditions the BAC division was able to slightly increase its EBITDA. In the module division, EBITDA stood slightly below the previous year’s figure. Adjusted for non-operating one-off effects, our BAM division maintained the earnings level of the previous year, a remarkable achievement in view of the market environment.

The steel tube market showed considerable weakness last year. Consequently, our Steel/Tube division had to contend with significantly lower volumes and prices, both in the energy and industrial sectors in Europe, and in the OCTG market in North America. This resulted in a significant decline in revenue and earnings. Nevertheless, we increased efficiency in this area and the difficult market conditions did not impact earnings as much as in comparable market situations prior to the COVID period. This is clearly reflected in the continued double-digit EBITDA margin. The Steel/Tube division thus remained our most profitable division in 2024 despite difficult market conditions. All this gives us cause for optimism.

Overall, our financial position as a group remains stable. Thanks to our ongoing efforts to improve efficiency, we achieved a satisfactory operating result with adjusted EBITDA of €594 million at group level.

Our solid performance in 2024 shows that our strategy is working. This is reflected in the many strategic successes we achieved in all areas of our company: 

• A look at the Americas market – especially the US – makes this clear. We are expanding our production footprint with a new BAC division facility in the city of Wyoming, while at the same time strengthening existing sites in our BAM and Steel/Tube divisions through investments in Spartanburg and Shreveport.
• If we look to Asia, it becomes clear why customers will continue to rely on BENTELER in future. In 2024, we supported new players in the automotive market, such as Xiaomi and Nio, with their launches.
• A look at Europe also shows how we are driving forward the green transformation of our industry. In 2024, we concluded important agreements for the procurement of green energy in Southern and Eastern Europe. We also attracted new customers and partners for our sustainable CliMore© tubes.
• The significant progress we made with our HOLON division is a prime example of the innovative strength within BENTELER. 

By executing our strategy, we’re strengthening our core business, becoming even more efficient and offering our customers around the world top-quality solutions tailored to their needs. At the same time, we are tapping into new markets, such as autonomous driving, and leveraging potential for further profitable business.