This Research Note examines Wago Group, a German supplier of electrical interconnection technology and automation products for buildings and factories. We analyze their 2023 financial highlights and growth strategy in building automation solutions and cloud services. Wago Profile Wago Group is a German manufacturer of over 25,000 products, systems, and solutions for electrical interconnection technology and automation. The company addresses various market segments and applications, including industry, railway and energy technology, the marine and offshore sector, and building and lighting technology. Founded in 1951 and headquartered in Minden, Wago has around 9,000 employees (of which 4,300 are based in Germany), 9 production sites, 20 sales companies, and representatives in over 80 countries. 2023 Financial Highlights The group has grown for the third year in a row, achieving 1.37 billion euros in revenue in 2023, representing 2.2% year-on-year revenue growth. Overall, sales have doubled in the last ten years. Wago Facts & Figures, https://www.wago.com/de/daten-fakten “In view of […]
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