A study carried out by the University of Trier identified the unsung leaders of the German state of North Rhine-Westphalia (NRW), highlighting the bilstein group as one of the “Hidden Champions of Germany”.
For the first time, a study highlights leading companies, which are continually called to the forefront in the presentation of new solutions but who are far from the spotlight and media coverage. This investigation by the University of Trier, at the request of the NRW Ministry of Economy, focuses on 690 firms based in the German state of North Rhine-Westphalia (NRW), where one of the “Hidden Champions in Germany” is the bilstein group, with headquartered in Ennepetal since 1884.
The analysis was carried out on companies listed as world or European leaders in their sector and annual turnover of up to five billion euros, but which are relatively unknown to the public. And, in addition to considering the group comprising the brands febi, SWAG and Blue Print as one of the 690 “Hidden Champions in Germany”, the University of Trier also praises its results, considering them as promising.
Its indicators contribute to this, which are well above average in terms of number of employees, experience (age) and invoicing. With a 178-year history, the bilstein group has more than twice the experience of the companies named in the study, on average over 85 years. And in the number of employees the difference is almost 100%, as the components specialist employs 2100 employees against a weighted record of 1370. Even more evident is the difference in turnover, as the 658 million obtained by the bilstein group is more than double the 265 million generated on average by the companies included in this investigation.
“Make hidden champion achievements visible”
Jan Siekermann, Executive Director of the bilstein group, recognizes the importance of this type of initiative as “an important sign that the government is making the achievements of the hidden champions visible”. The official also believes that this study can “help show people from NRW that rural regions, in particular, have a wide range of successful employers.”
This positive differentiation at the regional level is also highlighted by the bilstein group. Jan Siekermann notes that “as a company, we focus primarily on direct competitors in our industry”, but recalls that “the study shows us that we also belong to the top group in North Rhine-Westphalia. We see this as a confirmation of our long-term strategy, which does not aim for quick success, but rather builds on steady growth based on a stable economic foundation”.
See here the complete study with Germany’s Hidden Championswhich includes the bilstein group.