WTH 2023 Dynamic in the Fairway
„So far we’ve been able to stay on course“
(mud) – WTH Managing Director Gero Thieme assesses the prospects for the new year with confidence. He expects continued good business development for his company in 2023. Even if there are certain imponderables, the head of the company is certain that he will be able to successfully continue the positive development to date: “The company is in good shape”.
“It is helpful for our corporate success”, says Gero Thieme, “that we are broadly positioned in the core industrial sectors that are important to us. These include among others the construction industry, electrical and electronics as well as the automotive industry”. WTH is also well established in the plastics and rubber industry and with recycling companies.
In an exchange of ideas, company founder Walter Thieme and current company boss Gero Thieme were delighted: “It is remarkable how the company has mastered the past few years and despite the difficult economic environment such as supply chain problems, ongoing pandemic (China), shortage of raw materials, cost explosion in sea freight, was able to stay on course”.
Father and son see the key to the success of the past few years as follows: “It was particularly helpful that we always kept in close contact with our business partners and openly explained situations and their developments. We also named possible effects and then discussed defense strategies together. This is how we mastered challenges pro active and effective”.
The high degree of digitization of all business processes and the individual commitment of the entire workforce without exception in dialogue with suppliers, customers and service providers have also made a significant contribution to the success as assets.
The interlocutors also agree on these points: “WTH GmbH is slowly reaping the fruits of its business activities in Central and Eastern Europe, especially in Poland. There the company was able to grow above average. In the core markets (DACH = Germany – Austria – Switzerland ) WTH is already broadly positioned in the sectors and was able to more than just maintain market shares here as well”.
Walter Thieme broadens the economic view of what is happening around the world: “There is no unanimous opinion in the global economy either: there is agreement that the three major economic areas of importance for the global economy, the USA, the EU and China, will experience a recession . And for the first time even practically simultaneously, at least in the first months of 2023.”
Therefore, the thumb seems to be lowering, because the forecast global economic growth on a broad level from the 4th quarter of 2022 was already reduced from around 3% to 2% at the beginning of 2023. One reason is that, for the first time, none of these important regions are available as “locomotives” for the global economy.
The Thiemes summarize their exchange of ideas: “In Europe, the question arises as to how quickly the major economies will compensate for the cost increases. We at WTH therefore expect comparatively dynamic business development, as in 2022. At the moment, the prevailing impression is that due to the many uncertainties the economic mood among companies and consumers is likely to be worse than the current situation. This also runs like a red thread through the current surveys on economic development, for example by the Chambers of Industry and Commerce”.
In the end, Walter Thieme was confident: “I personally share the optimism of the world’s major stock exchanges that the economy and consumers will quickly adapt to the new situation with higher prices and, in the medium term, to a changed interaction in global economic integration While the ecological restructuring of the economy is under way, the effects on the industrial locations of Europe and Germany, apart from rising producer prices, are not yet foreseeable. I only hope that today’s optimists, like those in the times of industrialization at the end of the 19th century, will be right! “.