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Boxmark ups revenue, happy with 2023 results

Kidričevo, 02 May (STA) - Seat covers maker Boxmark increased its revenue by some 10% to EUR 67.7 million last year and posted a profit of EUR 2.1 million, level with last year. Having let go nearly 70 people last year, the company is now looking to hire once again and is happy to have closed a multi-year contract with the airline Emirates.

The latter is the most important achievement of last year, Boxmark director Marjan Trobiš was quoted as saying in the business report.

Last year, the company concluded several projects and launched new cooperation, most notably with Emirates, becoming one of the airline's main seat covers suppliers.

Long-term contracts were signed also with some other aviation companies, including supply for private jets, as well as some private yacht projects. Moreover, Boxmark continues to cooperate with the Slovenian ultralight aircraft maker Pipistrel.

Nevertheless, the automotive industry remains Boxmark's main market. Last year it started making seat covers for new Mercedes sports cars and its G-Class cars. The company is the main development supplier for the Graz-based car manufacturer Magna-Steyr.

"We managed to conclude restructuring, which is reflected above all in reducing our dependency on the automotive industry. This will guarantee stability in the long term," Trobiš said.

In the mid-2010s, the company employed over 2,000 people, mostly seamstresses, while last year, it reduced the number of staff from 534 to 467. Now, it is looking for workers once again, mostly in development, sewing and upholstery, but is having trouble finding them in Slovenia.

The goals for this year are to improve value added per employee and strike new long-term partnerships with large companies in automotive, aviation, rail and ship cruise industries.

The company is much more optimistic this year due to more stable supply chains, and expects to see higher revenue, profit and more employees.

Boxmark company exports 99% of its products, with the French group Faurecia and the Chinese Yanfeng being its largest buyers.

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