SCHAMBERG, Germany - High-precision transmission parts and components manufacturer hGears AG continues to suffer not only from the automotive crisis, but also from the e-bike business segment's sluggish destocking. In the first nine months of the current 2024 financial year, it had to digest its biggest sales drop.
SCHRAMBERG, Germany - When presenting its 2024 half-year figures, the high-precision gearbox parts and components manufacturer hGears AG took a cautious view of the financial year. Looking further ahead, the stock-listed company sees strong growth again in the medium term 'particularly in the e-bike and e-mobility business areas'.
SCHRAMBERG, Germany - hGears AG, the European precision e-bike transmission parts and components manufacturer, reports a 16.9% year-on-year decrease of its 2023 consolidated revenue of € 112.5 million. hGears faced an extremely challenging years in its e-bike business.
SCHRAMBERG, Germany - German precision gear and component manufacturer hGears AG reports a consolidated revenue of €84.1 million from January until October, a year-on-year decline of 18.8%. This decline is attributable to market difficulties for the e-mobility as well as the e-tools division.
SCHRAMBERG, Germany - In the first half of 2023, precision gear and component manufacturer hGears AG posted total sales of €57.16 million, a year-on-year decline of 19.4%. This is the result of flat sales in its e-mobility and e-tools business units.
FRANKFURT, Germany - Once again, high-precision transmission parts and components producer hGears AG, with its comparatively young e-mobility business unit, had its own booth at this year's Eurobike.
