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Press 17 April 2025

A Robust Annual Balance, Strong Investments and a New Chief Sales Officer for WAGO

Minden, 2025-04-17 – WAGO finished out the 2024 financial year on solid footing. Despite all the global economic challenges, it continued to experience a decrease in revenue within expectations. And in terms of investments, the family-owned company set a new record.

In an economically challenging competitive environment, WAGO has shown itself resilient against external impacts over the past twelve months. In 2024, its total revenue came to EUR 1.24 billion. Compared to the previous year’s value (1.37), this result is slightly lower, but still good. “In view of the political and economic changes worldwide, we are satisfied with this result,” says CEO/CFO Jürgen Koopsingraven in summary. “At the same time, we see this as motivation to continue our successful growth in the future.”

Germany remains the company’s largest market, with a 26.7 % (29.3 %) share of its revenue. The rest of the European market contributed 43.8 % (42.9 %) to the overall result, and the remaining global markets 29.5 % (27.8 %).

On the investment side, WAGO has deployed more financial resources than ever before, totaling EUR 165.6 million. This illustrates the company’s consistent determination to shape the future. EUR 83.1 million was invested in Germany. A significant portion of the funds was used for the construction of the new WAVE24 logistics center at the Sondershausen site in Thuringia, which will further increase product availability and delivery performance to meet customer expectations. As part of its international growth, the company also invested around EUR 17.5 million in the new headquarters of WAGO UK & Ireland in Houlton, Rugby. This is equipped with a state-of-the-art building management system and includes 5,900 square meters of office and production space.

In addition to these investments, the immense dedication of WAGO’s workforce is a crucial factor in the company’s success. The company employs about 9,000 people around the world. About 3,400 of them work at the headquarters in Minden, East Westphalia, and over 1,000 at the production and logistics site in Sondershausen in Thuringia. The number of trainees and dual-studies students at both locations has grown to over 280, underscoring WAGO’s ambitious efforts to foster young talent.

New Chief Sales Officer for Global Sales

Since April 1st, Mehdi Sayar, formerly WAGO’s Vice President of Sales for the EMEA region, has taken on the position of Chief Sales Officer (CSO). In this role he oversees all WAGO Group sales subsidiaries worldwide. Sayar will be driving strategic growth, strengthening customer relationships across global markets and reinforcing the company’s position as an industry leader.