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The Independent Automotive Aftermarket Federation

Bullish Performance & Outlook

Date: Tuesday 25 June 2024

This year’s financial performance figures from Banner has seen the group secure sales of four million starter and on-board batteries, delivering a turnover of EUR 302 million for its 2023/24 financial year (1st April 2023 to 31st March 2024).
And whilst the results are marginally lower than the record figures achieved last year, Banner is in bullish mood by continuing to focus on sustainable growth driven by the ongoing delivery of innovative solutions in both the automotive and energy storage arenas.
As Commercial CEO, Andreas Bawart states:

“Despite the external challenges the group faced in the 2023/24 financial year, the outlook moving forwards remains positive in relation to all aspects of the business. Both the automotive and energy business units of Banner continued to perform well, and this may be attributed to the continued high levels of product availability that Banner’s in-house production capability in Leonding is able to deliver.”
In relation to the future of lead-acid batteries specifically, Banner is predicting market growth of around two per cent annually over the next ten years, and this is a view shared by Lee Quinney.

“The future for the UK aftermarket operation certainly looks a healthy one. In fact the last financial year saw Banner in the UK continue to achieve record growth in terms of sales and profitability. Overall demand from the automotive sector continues to be buoyant, whilst sales in the CV, leisure and bike sectors are also expected to exceed forecasts,”
he said.