The Fürth-based family company recorded further growth in financial year 2023/24 and at +1.7 percent this exceeded the result from the previous year – uvex safety group posts increased growth on the back of successful USA business – sales down at uvex sports group due to weak consumption.
In financial year 2023/24, the uvex group generated total sales of EUR 666 million. Compared with the previous year, this reflects sales growth of +1.7%. Michael Winter, Managing Partner and CEO of the uvex group, is satisfied with this outcome: “We have to be pleased with how business has developed in view of the overall circumstances, shaped by geopolitical conflicts, huge uncertainty in the global economy and further declining momentum on the domestic market. Weak consumption in Germany and the announced job cuts in German industry remain our biggest problem areas.”
uvex safety group: the powerhouse driving strong international growth
In financial year 2023/24, the uvex safety group generated sales of EUR 546 million, equating to growth of +4.6%. In this context, uvex safety’s contribution to group sales has risen to a share of 81%. Alongside safety footwear and occupational healthcare, product groups with high growth rates above all included safety gloves. With the US safety glove brand HexArmor, the uvex safety group successfully further increased sales in the foreign US market. Together with the safety gloves sold under the uvex brand, largely developed manufactured at the proprietary production plant in
Lüneburg, safety gloves accounted for a significant share of the uvex safety group’s total sales.
Sales losses in the sport and leisure segments: weak consumption to blame
The uvex sports group, which already recorded declining sales in the previous year owing to a generally weak consumer environment, ended financial year 2023/24 with total sales of EUR 126 million together with the Filtral group. This corresponds to a sales decline of -9.3%. The uvex sports group includes the familiar uvex, ALPINA and Hiplok brands, although consumer uncertainty and the purchasing restraint associated with this led to sales losses in the areas of winter sports, cycling and equestrian sports. In addition, the measures introduced to successfully align the uvex sports group's business model for the future contributed to the negative business development alongside the challenging market environment.
While the Filtral group was less affected by the downturn in consumption, it was more heavily impacted by aggressive competition in terms of pricing when it came to sales promotions and discount campaigns. The specialist for collections of sunglasses and reading glasses (with the Filtral and Primetta brands) was also forced to contend with a 5% decline in sales, with a highly demanding market environment leaving its mark here as well.
Sales via our online sales channels, which are bundled within UD2C (uvex Direct to Consumer), our most recently established subgroup, stagnated at the level of the prior year.
“made in uvex”: giving products and services the edge
For almost a century now, the uvex group, with its protecting people mission, has
offered a comprehensive product portfolio for the safety and protection of people at work, in sport and for leisure pursuits. Despite the challenging overall economic situation, the traditional company continues to rely on its "made in uvex" philosophy. This essentially refers to in-house development and testing of product innovations, which enables the company to consistently meet its protective mandate in terms of both quality and design. In the past financial year, the uvex 1 x-craft product family (safety shoe) was named as the winner of a Red Dot Design Award 2024 in the highest award category “Red Dot: Best of the Best”. In financial year 2023/24, the uvex group set the standard beyond just design. In terms of integrating innovative safety features, the family company impresses on account of long-standing manufacturing expertise. In addition to uvex equestrian and cycling helmets, safety helmets also feature the MIPS safety technology.
Sustainability - a strategic business area of the future
Sustainability represents another key future field on the strategic agenda of the uvex group. The family company has an ever-expanding range of products and services that are developed and produced with sustainability considerations in mind. Bio-based materials, recyclable packaging and durable products contribute to the protecting people mission in addition to helping the environment. However, the list of measures developed to reduce waste and CO2 emissions, as well as to cut the consumption of water and energy, at the company's own plants is also being consistently and gradually implemented. The new logistics and service centre in Rednitzhembach, which opened in 2024, combines modern logistics technology with sustainable building components. Located on “Am Annaberg”, just a few hundred meters from the company’s headquarters in Fürth, a photovoltaic system comprising around 2,300 solar modules was also put into operation in the previous financial year. This will supply the family business with electricity for its own use in the future.
“Our highly diversified and internationalised protecting people business model gives us a boost in the current financial year too”, comments Michael Winter. “However, the volatility impacting our domestic economy, uncertainty on the international markets and numerous crises do give us cause for major concern”.
