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STEMMER IMAGING growth hit by depreciation of local currencies

  • By Neil Martin
  • News
STEMMER IMAGING_Stemmer Zollitsch Kersting

The latest figures from STEMMER IMAGING show a €88.7m turnover for the company’s 2016/17 financial year.

Taking into account an adjustment for exchange rates, this means a growth of 6%.

Managing director Christof Zollitsch said: “The biggest increase as a percentage was realised by our branches in Finland, the Netherlands and Switzerland. It was unfortunate that a substantial growth, especially in the UK but also in Sweden, has been offset due to the depreciation of the local currencies against the Euro.”

Zollitsch added he was pleased that the portion of turnover attributable to customer services has increased further in the preceding year. He said: “We have extensive resources in this area that enable us to significantly reduce the effort that our customers have to put in to solve their image processing tasks. Our range of services increases our customers’ profitability and thus represents a major criterion for co-operating with STEMMER IMAGING as a preferred partner for all aspects of image processing.”

The results announcement comes after founder Wilhelm Stemmer sold his shares in the company and retired from the operative business. Now 75.04% of the shares are held by Munich-based AL-KO AG, parent company of international group AL-KO KOBER SE. As part of the transaction, the existing management team acquired 24.96% of the shares (see MVPro Magazine story entitled: AL-KO acquires majority stake in STEMMER IMAGING).

Explaining his decision to sell, Stemmer said: “I have been an entrepreneur for 44 years and am now 73 years old. It was time for me to find a sustainable succession plan to ensure the continuation of my life’s work. With AL-KO AG as the majority owner, STEMMER IMAGING will continue to be able to tap into future markets and expand them further. From now on Martin Kersting, who has been a partner in the business until now, will control the fortunes of STEMMER IMAGING as managing director together with Christof Zollitsch, who I also appointed managing director back in 2001. So I know that the company is in the best hands for the future and I wish both of them and indeed the entire workforce all the best for the future.”

(picture above shows, from left, Wilhelm Stemmer, Christof Zollitsch and Martin Kersting)