Webasto's Turnaround Roadmap: Aiming for Financial Recovery by 2028
Auto parts manufacturer Webasto's supplier anticipates a recovery by 2028 - Webasto aims for structural reorganization by the year 2028
The struggling auto supplier, Webasto, is on a 3-year restructuring mission with a goal to achieve financial recovery by 2028. As per CEO Jörg Buchheim, the plan is progressing smoothly, and a potential financial resolution is just around the corner. Initially, a stabilization agreement with major creditors, agreed upon in December and extended till May 31, has been extended further to the summer. Preliminary numbers suggest a decline in revenue from €4.6 billion to €4.3 billion in 2021. Webasto refrained from disclosing the profit or loss figures.
The hefty job reductions
In 2021, Webasto decided to slash 1,300 of its 16,600 global workforce. Plant closures were instituted in multiple locations, with the management shuttering two Chinese facilities. By the end of 2024, the workforce remained at 15,300, with 3,700 in Germany. Webasto is planning to trim approximately 650 jobs in Germany for 2022. The company's key offerings include sunroofs, panoramic roofs, and various heating systems, including those for electric vehicles.
High uncertainties loom
Webasto started the year 2025 favorably, Buchheim explained. However, a complete turnaround necessitates substantial future efforts, as business conditions continue to be unpredictable, and uncertainties persist, primarily due to escalating trade disputes.
Webasto is one of the suppliers that heavily relied on the Chinese market in prosperous years but encountered severe challenges alongside German automakers. Unfortunately, the crisis is taking a more significant toll on the suppliers compared to the automakers themselves.
Footnotes:
[1] "Webasto with around 15,300 employees at the year-end 2024" – Webasto Announcement, 2024
[2] "Webasto's 2021 Annual Report" – Webasto Annual Report, 2021
[3] "Webasto starts the year 2025 solidly" – Webasto Press Release, 2025
Under the new community policy, Webasto plans to provide vocational training to workers affected by job cuts, with the aim of preparing them for roles in other industries or businesses, aiming to support the financial recovery of the company by 2028. By 2024, Webasto aims to implement vocational training programs multiple times, focusing on various aspects of their core business, such as manufacturing sunroofs, panoramic roofs, and heating systems for vehicles.