System Lift grows revenue

System Lift has closed its 2023 financial year with an increase in revenue, despite the challenging economic situation.

Net profit rose to €1.2 million, with a dividend that exceeded €500,000, while turnover for the 2023 financial year totalled €5.3 million euros, almost €345,000 above the previous year’s result.

‘We are proud to be able to record such significant growth once again. These figures confirm the effectiveness of our group strategy and strengthen us in our actions as a community,’ sid Malte Bilau, management board member.

As partner companies of System Lift are the only ones to have a stake in the cooperative, they also benefit from the successful annual year, with the dividend amounting to €10,000 per shareholder.

Photo: System Lift AG

Christopher Friedrich, also a member of the board, added, “A central aim of our association is to promote the level of professionalisation of our partner companies. In addition to the System-Card training area, this also includes the organisation of our four-week purchasing bundle, in which our partners can purchase state-of-the-art access technology at discounted rates.”

In the 2023 financial year, System Lift partner companies invested almost €101 million in rental fleet expansion - €53 million of which was invested during the one month purchase bundle alone.

In total more than 35,000 System-Card training courses have been carried, with the number of people trained up 21.6% or 3,600 on last year, which also contributed to the increased annual result

At the same time, there were 14,847 e-learning participants - an increase of 2.4% compared to the previous year. Bilau, who is responsible for training, added, “The rising figures in the System-Card area emphasise the importance of this business segment.” In recent years, SYSTEM LIFT has made targeted investments in this area, including in advanced VR training technology.

‘We are now reaping the rewards of our investments,’ emphasises the Management Board member.

Board change

At the Annual General Meeting, long-standing Supervisory Board member Thomas Höchst from rental company Dornseiff Arbeitsbühnen is stepping down from the Board.

“Thomas Höchst has been an absolute asset to the Board for many years. He has repeatedly provided important impetus and thus continuously developed our community,” said Fabian Markmann, Chairman of the Supervisory Board.

Andreas Möller, from Möller manlift, based in Würzburg, was unanimously elected to the Supervisory Board to replace Höchst. ‘We are looking forward to working with Andreas as an experienced player in the industry. He has been active in various committees of our association for many years, so he knows the issues within our community and is also successfully established on the market with his company,’ comments Malte Bilau on the new addition to the Supervisory Board.