New plants to drive Himoinsa growth
By Murray Pollok14 February 2023
Spanish generator and lighting tower manufacturer Himoinsa has reported a massive 37% increase in sales in 2022 to €350 million and said it expected revenues to rise almost 15% to €400 million this year.
The company, which is part of Yanmar Energy System (YES), Yanmar’s power division, said the growth this year would result from major investment in new production facilities as well as international projects. It is also “immersed” in acquisition projects that it said would be completed this year.
Himoinsa said it would soon commission a new factory in Spain to build battery-powered energy storage and distribution systems. Also planned for the final quarter of this year is the opening of a new production site for gensets up to 3,500 kVA.
The battery storage plant is part of Himoinsa’s wider strategy to create products for the energy transition, including the electrification of equipment, gas-powered generation, the use of alternative fuels such as HVO, and Stage V diesel technology.
Himoinsa said its highest growth areas last year were the US, Spain, Australia, the UK, South Africa and Brazil, while major projects in West Africa, Southeast Asia and the Caribbean had also helped.
Europe remains its largest market, representing 43% of all sales, followed by the Americas (28%), Asia (15%), Africa (12%) and the Middle East (2%).
Francisco Gracia, President and CEO of Himoinsa, said 2022 was an excellent year for the company in spite of external factors such as the aftermath of the pandemic, inflation and supply chain problems; “Our success is all due to the efforts of the human team that makes up this organisation, because if there is one thing we are very proud of, it is the enormous commitment of our employees.”
Acquisitions have also played a part in the company’s growth. Last year it acquired a 75% stake in Powersil, a Portuguese company that sells generator sets and designs and manufactures electrical panels and automation systems.
During 2022 the company increased its workforce by 18%, and said it expected to see an even higher increase this year.