In the first half of 2022, Ganz Transformers and Electric Rotating Machines Ltd. continued its stable growth and further strengthened its international position. The order intake of the company, which manufactures transformers, high-power electric motors and generators, and services high-voltage equipment is HUF 17,5 billion in the first half of 2022, and already contracted 80 percent of its order volume target for this year in the first quarter. As a result of the change in ownership and the successful reorganisation process, the company forecasts growth of 40-50 percent in the coming years.
Stable operation, dynamic growth
In 2020, the year of its foundation, the company with 140 years of tradition restarted production at the factory of Tápiószele, which had been struggling with financing problems under its former Indian owner CG Electric and was returned to Hungarian ownership after more than 15 years, where it currently employs more than 300 people. Following the reorganisation, the company has been working steadily over the past two years to increase its production volume and export activities and to restore its international reputation.
Following the successful reorganisation process, and despite the difficult economic conditions and the war conflict in Ukraine, the primarily export-focused company already contracted 80 percent of its order volume target for this year in the first quarter. In addition, the order intake in the first half of the year is HUF 17,5 billion. The value of the unexecuted order book is nearly HUF 21 billion, of which almost HUF 7,5 billion is already booked for 2023. As a result, revenue expectations for 2022 are close to HUF 20 billion.
The majority of the company’s export projects are in renewable projects (wind and solar), where Ganz’s high level of engineering expertise, flexibility and customer focus really sets it apart from the competition. Ganz is now active in nearly 15 markets, including European countries as well as in the Middle East. In the latter region, in Israel, the Hungarian heavy machinery manufacturer was successful in a tender for the construction of the largest solar power plant park of the country.
Great international interest in the Hungarian company
In April 2022, the company signed a partnership agreement with Maschinenfabrik Reinhausen, a German-based company. Under the terms of the partnership, the company will develop and manufacture intelligent transformers together with the German company, a world leader in power transformer control. This key strategic agreement has made Ganz the market leader in digital monitoring systems and intelligent solutions.
“The energy market was very active in the first six months of 2022. There was a lot of interest in transformers and the smart solutions and digital systems that our company produces. Our export activity has thus increased at an extraordinary pace in recent months, especially in the Romanian, Irish, French and UK markets. In the first half of 2022, several major European utilities and renewable energy developers, including Germany’s Enercon and Vattenfall, Spain’s EDR and Vestas, and France’s Bouygues, approached us for cooperation,” said Jan Prins, Managing Director of Ganz Transformers and Electric Rotating Machines Ltd.
Focus points for the next period
Thanks to increased demand for high-performance transformers, renewables, smart grids, sustainable and digital solutions, and the green turn in the energy market, Ganz is forecasting growth of 40-50 percent in 2023 and in the years thereafter. To achieve this, the company has increased its workforce by 10 percent so far this year, and plans to add more experts in the second half of the year.
In addition, the company’s service department is growing steadily, and will continue to focus on this, especially with regard to intelligent transformers.
“Our goal is to make Ganz a company with a strong international presence and reputation, able to serve the needs of international customers as a market leader, especially in the fields of renewable energy and smart solutions” – the managing director added.
