Lenart - TBP, the Lenart-based producer of push-pull bowden cables and plastics employing more than 750 people, saw its revenue rise by good 4% to some EUR 56 million last year. The company posted minimum profit despite the uncertainty faced by car industry suppliers.

"The ambitious plans set at the beginning of 2021 had to be adjusted to the new reality in the second half of this year - a drop in orders, shortages of supplies on the global market, higher prices of raw materials and extreme rises in the prices of energy and transport," said CEO Danilo Rojko as the company released its business results.

The company was forced to cut costs, reduce the number of staff by 15%, maintain the high productivity and cut the amount of waste. All these measures will continue as challenging times are ahead, said Rojko.

Corporations BMW and Brose became TBP's most important business partners last year.

The company's total output reached 73 million pieces, which is 5% more than in 2020.

After buying out the largest shareholder - the company Prevent Holding, TBP managed to consolidate its ownership structure and is now looking for a strategic partner that would by this share.

Despite still dealing with the consequences of the epidemic and the Ukraine war, the company plans sales to be up by some 10% this year to top EUR 61 million. The main buyers should be Brose (30%) and MBW (24%). Other major clients this year include car giants Volkswagen (14%), Audi (8%), Porsche (7%) and Škoda (5%).

Investment in technological equipment should top EUR 3 million this year.

TBP's subsidiary in Mexico is increasing production of its VW Tareq series this year and is starting two new production series for Brose, while new deals are being negotiated on with Tesla. The TBP group plans to generate some EUR 67.5 million in sales revenue this year.