This rise takes after the similarly successful 2014 financial year, which saw sales rose by 17 percent.

According to managing director Hans Beckhoff, the reasons for the increase in sales can be attributed to an increase in market share. “Our PC Control technology is increasingly the acknowledged market standard,” he explained. He also attributed the positive sales to the favourable euro exchange rate.”

Exports in 2015 accounted for 65 percent of total sales. Mr Beckhoff commented: “Asia is contributing strongly to our growth. However, subsidiaries in southern Europe and North America are also performing quite well.”

The company presents an optimistic outlook for 2016, and anticipates continued double digit sales growth. “We have strong and growing levels of incoming orders,” Mr Beckhoff said. To prepare for this growth, the company’s headquarters at Verl will expand by 27,000 square metres this year.

The Beckhoff sales and distribution network will also expand further in 2016, with regional offices in Hesse and North Rhine-Westphalia, as well as new representative offices in Argentina, Columbia and Thailand. The company plans to invest further in research and development by setting aside €45 million in funds.

On the technological side, the hardware and software portfolio will expand in all Beckhoff PC-based control technology product groups. “Industry 4.0 is becoming a reality. Ideas are being transformed into real products that enable machinery to be used far more productively to manufacture more goods in higher quality,” stated Mr Beckhoff.