Webasto puts its charging station business up for sale

Webasto electric charging station

The company is putting its charging station division up for sale.

(Photo: Webasto Group)

Frankfurt/Munich The automotive supplier Webasto is looking for a partner for its business with charging stations and cables for electric cars. “We can see that the full potential cannot be exploited at the moment,” the company explained on request. “We have therefore decided to look for a partner who supports the positive development of the charging area.” The Bavarian company thus confirmed information from the Handelsblatt from financial circles. The market for charging solutions is very dynamic and offers great growth opportunities, Webasto advertises buyers for this business area.

According to people familiar with the situation, the group has hired investment bank Jefferies to look for an investor. Industry circles emphasized that no decision had yet been made. However, Webasto does not want to completely separate from the division. The company itself pointed out that the industry is in a consolidation phase. Jefferies declined to comment.

At Webasto, the charging technology business is out of the ordinary. When it comes to parking heaters, sunroofs and batteries, the car manufacturers are the primary customers. Charging stations, on the other hand, are set up and operated by very different providers around the world. Therefore, other sales channels are in demand.

Webasto has charging cables, mobile charging stations and wall boxes for private individuals and commercial customers in its portfolio. Important sales markets are Germany and the rest of Europe as well as the USA. The wall boxes and cables are produced in Schaidt (Rhineland-Palatinate), Irapuato (Mexico) and Wuhan (China).

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Last year, Webasto achieved 155 million euros with activities related to electromobility. This was twice as much as in the previous year. In addition to charging technology, the division also includes battery systems and electric heaters. By 2025, the entire division is expected to generate sales of one billion euros. According to industry estimates, revenue in the tens of millions should have been generated in the charging area recently.

Electromobility remains a sales driver

Webasto saw growing demand in this area. However, the group has been in the red for the past two years. CEO Holger Engelmann said when the balance sheet was presented: “We will continue to pursue a consistent austerity course.” You can no longer invest in everything that promises growth.

Red numbers

146

Million Euros

Webasto made a loss before interest and taxes last year.

Webasto is one of the 15 largest German automotive suppliers and is fully family-owned. The company became known to a broader public because the first corona case in Germany occurred there. The company specializes primarily in glass panorama roofs and parking heaters.

The automotive supplier is struggling on several fronts. Like the competition, the group suffered from the consequences of the corona pandemic. Car sales fell at times, supply chains were disrupted, material costs are rising.

In addition, there were home-made problems related to the major order from Ford for the roofs of the new edition of the Bronco icon. The new Detroit plant opened late, Ford had to delay initial deliveries and replace thousands of hardtop roofs due to quality issues. The failed product launch cost 200 million euros.

>> Read about this: The Bronco disaster at Webasto: the car roof specialist is in the red

Before interest and taxes, Webasto made a loss of 146 million euros last year. This is one of the reasons why the group wants to focus even more on its core divisions.

More: Webasto and other corporations are building firewalls against the global crises

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