RECARO posts 2024 double-digit revenue growth

RECARO Holding has released its financial results for 2024 and reported total revenue of €588 million and is anticipating a similar growth trajectory in the coming years. In preparation for this outlook, RECARO Aircraft Seating implemented a global “fit4growth” program allowing for a smooth ramp-up of production as the aviation industry surpasses pre-pandemic statistics. A strong focus for this initiative was placed on upcoming customer programs including collaborations with Southwest Airlines for the R2 Economy Class short and medium range, Cathay Pacific with the PL3530 Premium Class long range, and Iberia for the R3 Economy Class long range. (PHOTO: RECARO) Furthermore RECARO is continuing to invest in its products and is generating a high order intake both driven to substantiate the market leader position in economy class. In business class, RECARO is successfully increasing its market share via various programs, such as LATAM Airlines, and getting one step closer to the goal of market leadership in business class. RECARO continues to invest in their large cross-site initiative, “space2grow”, focused on site expansions and upgrades to accommodate the projected employee count and operational output in the coming years. Hiring more than 300 team members globally in 2024, all sites continue to recruit new team members as the industry gains speed. In line with this initiative, the facility in Poland is expecting to finalise the addition of a new production and office building to their site in 2026. With a record order book of more than €2 billion, RECARO Aircraft Seating is positioned for a record year further solidifying their market leadership in economy class and expanding their footprint within the business class segment. The R3 long-haul economy class seat program, which has over 40 programs, will see a significant ramp-up in 2025, highlighted by the successful first Iberia A321XLR flight in November 2024. Insights from the annual customer satisfaction survey have reinforced the division’s commitment to excellence as they prepare for the coming years. To add to these successes, RECARO Rail unveiled its brand-new Luna seat in September 2024. Luna allows for an increased level of customisation and was developed with sustainability in mind, boasting a 98% recyclability rate. Additionally, RECARO Gaming expanded their product line with the launch of two new chairs, RECARO Aer and RECARO Nxt, both having been recognised with the prestigious German Design Award. Both gaming chairs showcase the division’s commitment to innovation and excellent product design through product customisation and ergonomic features such as an integrated lumbar support and a 5D fully-foldable armrest to ensure gamers have complete support and freedom while playing. The commitment of RECARO to excellence was further recognised with the Best Managed Companies Award by Deloitte which focuses on recognising experienced management, operational excellence, and innovative business practices. “I am extremely proud of the RECARO team and the many great milestones we jointly managed. Looking into the next five years RECARO will continue to build on its strong financial performance and strategic advancements paving the market leader way for a strong future,” said Dr. Mark Hiller, CEO of RECARO Holding and CEO & Shareholder of RECARO Aircraft Seating. ”In 2025, our commitment to innovation will ensure our customers experience the highest levels of comfort, cutting-edge design, and unparalleled reliability in every RECARO seating solution.” For Editorial Inquiries Contact: Editor Matt Driskill at [email protected] For Advertising Inquiries Contact: Head of Sales Kay Rolland at [email protected]