Cautious optimism among FHI members in the fourth quarter of 2022

There seems to be a cautious optimism emerging among FHI members, as shown by the economic barometer for the fourth quarter of 2022. Turnover is increasing and the future expectations of many companies are also generally positive.

About the four FHI sectors examined, companies active in Building Automation are the most positive: more than 70 percent note a better order position than Q4 2021. Optimism also prevails within the Industrial Electronics sector. A majority of all sectors recorded an increase in turnover in the fourth quarter compared to a year earlier. However, almost all FHI members say that rates or sales prices have increased in Q4. Between 10 and 20 percent of companies continue to see the war in Ukraine as a threat, but a lack of supply of products and inflation are the main concerns of the entrepreneurs surveyed.

The turnover of members of the Industrial Electronics sector has been increasing for several quarters. In Q4 2022, almost 80 percent indicated that turnover increased. However, a smaller number of entrepreneurs expect that the current quarter will again show an increase in turnover. IE members see the most opportunities in the Internet of Things and the energy transition, but reshoring is also seen as an important opportunity by more than a third. Staff shortages, inflation and faltering deliveries continue to play tricks on the sector.

About half of the companies in the Industrial automation saw a growth in turnover in the fourth quarter of last year, but a large majority of 60 percent indicate that they do not expect any growth in the order portfolio in the current quarter. A large part sees its opportunities in the energy transition in particular, despite the transport shortage on the electricity grid. Once again, the staff shortages and inflation are a cause for concern for the IA companies.

Within the Laboratory Technology sector has the order position improved or remained stable compared to Q3. Many members are also optimistic about the position achieved in the fourth quarter, while approximately 45 percent indicate that turnover has also increased. Looking at growth opportunities, most LT members see opportunities in the field of service & maintenance. The sale of refurbished instruments and growth within a niche are also mentioned by members. The fear of inflation remains the main problem, corona has disappeared from the list of possible pain points.

Industry members of Building Automation see a growth in the order position in the majority (over 70 percent). The total turnover also increased for a considerable number of members. However, the rates and sales prices increased. The internet of things and energy transition are mentioned as potential growth opportunities, currency devaluation and faltering supplies as pain points.