At a meeting on May 25th 2011, the Brose Group shareholders and advisory board once again voted to pay all staff worldwide a share of the company’s profits.
At 22.5 million euros, the amount to be paid out in profit-sharing
bonuses is the highest in the history of the family-owned company.
All staff, including temporary employees, will receive a bonus of 1200 euros for the 2010 financial year. Senior managers will also receive a much higher profit-sharing bonus than the previous year.
The Brose Group’s sales revenue rose by 35% in 2010 – following a significant drop during the financial crisis of 2009 – reaching 3.5 billion euros, which is higher than the previous record of 2007.
This makes the Brose Group one of the top 60 family-owned companies in Germany in terms of sales revenue and the sixth largest family firm in Bavaria. In the Upper Franconia region, Brose is the second largest industrial enterprise, behind Bosch in Bamberg.
Jürgen Otto: “The crisis was over as quickly and unexpectedly as it arrived. The steep rise in sales in all regions in 2010 demanded supreme levels of commitment from the whole organization. Naturally, we want our staff to participate in this business success.”
In view of the continuing high levels of demand and the number of products going into production, the company is expecting global sales to rise by around 11% in 2011 to approximately 3.9 billion euros. While the European market is relatively stable, further growth is expected in Asia and North America.
Franconian sites benefit from international success
The benefits of Brose’s international success for the group’s Franconian sites in Coburg, Hallstadt/Bamberg and Würzburg are visible in the rate at which the workforce has grown over the past ten years. The number of employees rose by 30% over this period to around 5870. In total, Brose employs more than 18,000 people.
The success of the global door, seat and drive business, which is managed from Coburg (seat systems), Hallstadt (door systems) and Würzburg (electric motors) is continuing to have a positive effect in the region – these three Brose sites are currently advertising around 200 skilled and management positions in development, sales and administration.
Brose Coburg an important economic factor
As Coburg’s largest industrial employer, Brose plays an important role in the regional economy, buying goods and services worth over 120 million euros each year from businesses in the region. The town and surrounding area also benefit from the spending power of the 2700 people employed directly by Brose as well as the 1800 people employed by its local suppliers, who between them have a net annual income of nearly 120 million euros.