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She is an entrepreneur through and through and has made German business history. To honour her contribution, Ursula Ida Lapp has now been awarded the Business Medal of the state of Baden-Württemberg.
Among the state’s most prestigious honours, it is awarded only to people who have made an outstanding contribution to the economy of Baden-Württemberg.
The medal was awarded at a ceremony at the New Palace in Stuttgart. Nicole Hoffmeister-Kraut, the state’s Minister of Economic Affairs, Labour and Housing, praised the entrepreneur in her speech: “Through industriousness, ambition and resilience, you and your family have built up a company of international reputation and renown over the past 58 years. Your various and remarkable social and corporate achievements are particularly worthy of mention. It is therefore a great pleasure that I am able to personally present you with the Business Medal today for these achievements.”
LAPP has achieved turnover of over one billion euros for the first time in its history. Turnover for the 2016/17 business year (1 October to 30 September) rose by 13.9 percent to EUR 1,026.8 million. This strong increase in turnover proves that LAPP’s strategy is working. Growth was particularly strong among the company’s solutions for industrial data communication (+27%) and the plug-and-play connection solutions of the ÖLFLEX® CONNECT brand (+17%).
The number of employees increased by 9.6 per cent to 3,770. Pre-tax earnings increased by 29 per cent to EUR 55.5 million. “These figures prove that our customers continue to trust us and that our strategy has put us on the right path – which we are obviously delighted by”, explained Andreas Lapp, Chairman of LAPP Holding AG.
The European region (EMEA) experienced disproportionately strong growth. Turnover there grew by 15.8 per cent to hit EUR 718.9 million. With its share of turnover amounting to 70 per cent, the European region is the biggest market for LAPP. In Germany alone, turnover came in at EUR 313.4 million (an increase of 16.8 per cent). The Asia region (which includes Australia and New Zealand) increased its turnover by 12.9 per cent to hit EUR 194.1 million. Despite the difficult situation in Brazil, the America region achieved a turnover of EUR 113.8 million in Canada, the USA and Central and South America, which equates to an increase of 4.5 per cent.
Dr Ralf Zander is the new Head of Finance and Controlling at LAPP, and is a typical numbers man. Born in Stuttgart, he brings a great deal of expertise from the automotive and plant engineering industries.
“He has a wealth of international experience and understands how family companies think and act. He is an outstanding finance expert who will guide us through our continued growth”, emphasised Andreas Lapp, Chairman of the Board of Lapp Holding AG.
Dr Zander has a degree in industrial engineering from the Karlsruhe Technical University and an MBA in General Management from Union College in Schenectady, New York. “LAPP is solid in financial terms, and is an innovative and highly dynamic company. It is a privilege to work here and to actively guide the company on its growth course into the digital age in my role as CFO.”
For the second year in a row, LAPP has been crowned champion of the Integrated Solutions for Cable and Connection Technology category in the University of St. Gallen’s annual ranking of the best companies in their industry. The main prerequisites for including a company in this global market leader index are technological leadership, international presence and customer proximity.
The index was created by the University of St. Gallen’s Henri B. Meier School of Entrepreneurs in collaboration with the Academy of German World Market Leaders (ADWM).
It started with a database with more than a thousand entries of potential global market leaders in Germany, Austria and Switzerland. The selection process focuses on factors like company turnover, the proportion of turnover from international sources, and sales being made on at least three continents.