The metal-mechanical processing sector grew by 7.4% in 2023

Gipuzkoa, News

The machining and metal-mechanical transformation sector has experienced an increase in turnover of 7.4% in the year 2023. In the analysis by subsectors, machining grew by 7.1%, while boilermaking and forming grew by 10.4%.

“This growth reaffirms the good results obtained in 2022. The first half of 2023 has been very good in terms of turnover figures, thanks to the inertia that companies brought with them from a very positive 2022 financial year. In the second half of the year, uncertainty has been the general trend and a slight slowdown has been noted in the attraction of new projects. In any case, the sector has maintained a good level of activity, closing the 2023 financial year with a growth of 7.4%”, comments Fernando Gastaldo, vice-president of AFMEC.

Exports, which account for 28.6% of turnover, grew by 20.5% in 2023. The main destinations were France (33.3%) and Germany (19.1%), followed by the United States (15.4%), Finland (6.2%) and Morocco (3.2%).

AFMEC companies have a wide range of client sectors, among which machine tools and capital goods (26.9%), power generation (21.3%), aeronautics and aerospace (11.3%), automotive (7.5%), and metal structures and construction in general (6.7%) stand out.

In 2023, companies in the sector have seen their level of investment in equipment reduced by 13.9% compared to 2022. According to Fernando Gastaldo: “Investment in modern production equipment is essential in our sector, as our companies focus their activity on customer sectors with very high levels of demand and precision. In 2023, the high level of interest rates, as well as the uncertainty in global geopolitics, have made companies adjust their investments to the maximum. In this sense, the programmes that the administrations set up to encourage investment are tools that allow companies to have the best production equipment and thus be internationally competitive”.

Despite the positive figures for the 2023 financial year, there are several factors to consider that are causing concern among companies in the sector. In the words of Fernando Gastaldo: “Another of our concerns is the generalised increase in costs that we have suffered in recent years, which translates into a reduction in margins that were already very tight. For companies to remain competitive and generate value for society, they need to be economically sustainable”.

Regarding forecasts for 2024, Fernando Gastaldo said: “It is difficult to make forecasts in a scenario of such uncertainty as the one we are currently experiencing. However, the level of activity of the companies is currently good, so we foresee a slightly positive first half of 2024, with a possible slowdown in the second half of the year”.

The association has 190 companies, with an average workforce per company of 27 people. Employment has grown by 2.6% in 2023, consolidating the increases seen in 2021 and 2022.


Otras noticias