The solutions of the long-established Hungarian manufacturer are increasingly in demand on the international market
The turnover of Ganz Transformers and Electric Rotating Machines Ltd. increased more than one and a half times to 71.55 million euros in 2023. Following its reorganisation in 2020, the Hungarian heavy machinery manufacturer has launched a series of energy efficiency and production technology improvements that have set the company on a new development path. The company did not only perform well domestically, but half of its sales in 2023 came from foreign markets.
It has been another successful year for Ganz Transformers and Electric Rotating Machines Ltd. The company’s net turnover increased more than one and a half times last year, from 43.89 million euros to 71.55 million euros (about 28.27 billion forints), while its profit after tax rose from 2.29 million euros to 4.45 million euros.
Following the corporate reorganisation implemented in 2020, Ganz has undergone a complete overhaul in recent years and has significantly increased its sales in all four divisions – Transformer, Rotating Machines, Intelligent Solutions and Service – both in the domestic and international markets. Last year, domestic sales increased from 22.14 million euros to 37.88 million euros, while export sales rose from 21.75 million euros to 33.61 million euros. Thanks to successful export orders, the heavy machinery manufacturer ‘s transformers, motors and generators are now used in the energy and environmental industries in most European countries, from Ireland to Romania, as well as in the Middle East.
One of Ganz’s most important technological innovations was the launch of its Intelligent Solutions digital monitoring system for transformers in 2022, which can now be integrated into rotating machines as well, which is a unique solution on the market. In a single month at the end of 2023, Ganz Rotating Machines Division signed six new international orders for a total of 4.3 million euros. With its products and innovative solutions, the long-established Hungarian manufacturing company is making an active contribution not only to the Hungarian, but also to the international green energy transition.
The company is constantly developing and optimising not only its product portfolio, but also its production facilities. In June last year, Ganz launched a comprehensive energy optimisation programme, which included the construction of a 2 MW solar power plant next to the Tápiószele production site and the further reduction of gas consumption at the plant through new state-of-the-art technology and insulation. As part of the programme, the company aims to improve the energy efficiency of its manufacturing processes, increase the use of renewable energy sources and improve the energy efficiency of its transformer and rotating machine factories.
An important milestone in the life of the company was the relaunch of production activities in 2023 at the former Ganz site, which was bought back in the southern industrial area of Szolnok, where it has been manufacturing the external steel structures of transformers. The company has approved a development plan of 3.8 million euros to start production, most of which will be used to improve production technology and energy efficiency at the site. It has also created 50 new jobs, helping to improve the employment situation in the region.
“We want to continue to create a company that can build on the Ganz brand’s traditional market roots and continuous innovation to become one of the most respected manufacturers of transformers and rotating machines, both domestically and internationally. Through its activities it can contribute to improving energy efficiency and meeting sustainability targets in energy and industrial companies worldwide,” said Jan Prins, Managing Director of Ganz.
This year, Ganz will continue its investment programme: at the beginning of the year, the company launched a 12-million-euro investment in the technological development of its rotating machine factory, with the purchase of new equipment and the modernisation of existing equipment, with the aim of making production processes more efficient to meet the ever-growing orders in Hungary and abroad.
