The engineering company Philotech has been significantly reorganized in the last three to four years, the technical and especially the industrial portfolio has been consistently expanded:
Extensive expansion in areas such as software development, verification/validation, systems engineering, safety/security, configuration management
Significant expansion in industrial fields such as automotive, aerospace, telecommunication, security
Despite the major and unforeseeable challenges posed by the COVID-19 pandemic, the Philotech Group continued to develop excellently in the automotive, telecommunications and defense sectors, among others.
While there was a pandemic-related decrease in sales for the German Philotech GmbH in the civil aviation sector in 2020 / early 2021, this was somewhat compensated by the significant growth in the automotive sector. Despite partial lockdown, quarantine measures and pandemic-related slumps, the Philotech Group as a whole achieved encouraging growth of approx. 5% in 2020 compared to the previous year, not least due to the growth of the subsidiaries in Spain, France and usb GmbH.
Philotech quickly implemented the regulatory pandemic requirements and adapted its infrastructure and processes, always focusing on customers' quality targets. The automotive sector in particular achieved above-average growth. Even if the civil aviation sector has not yet reached its previous level, the first three quarters of 2021 saw further growth of around 10% compared to the previous year due to increased demand (software, connectivity, ...). As a result of this and the consistent re-organization and optimization, earnings improved significantly in the first three quarters.
The current outlook for 2022 indicates further growth in the automotive and security sectors, among others. Long-term framework agreements with major automotive and aerospace OEMs have already established the basis for this in all areas of expertise of the Philotech Group.