Cabcongroup is a Scandinavia based supplier of passives, electromechanical components, and cable harness for the industry, globally. The company strives to provide the best solution to the given application in close collaboration with customers and suppliers. Cabcongroup considers themselves a design partner and with experienced staff and a strong supplier base, helping to optimize processes and build technology for a better future.
Easy Engineering: How was 2023 for your business, a short summary?
After a all-time record year in 2022 – the market started to slow down in 2023. Despite the fact that our turnover in 2023 decrease a bit from 2022 we still managed to win market shares. In 2023 were were awarded the “Gazelle Price” by a financial magazine, we were in the final for “EY Entreprenuer of the year” and we received once again “AAA” from D&B which rank us as the highest creditworthiness. During 2023 we also increased our sales division with great success, so all in all we were satisfied with our 2023.
E.E: What new products/services will be launched this year?
We have had great success with our core products Cable Harness, Connectors, Relays, Contactors, Crystal products, Magnetic products, etc. however with our brand VIKING on board we have really started to promote resistors and capacitors as well since we have a great brand with very competitive cost.
E.E: How did the market change in the last year?
The industry in general went through a change during 2023. Leadtimes went from extremely long back to normal again, customers started to reduce warehouse level and the demand started to decrease for most customers.
E.E: What were the best-selling products of 2023?
We have a lot of customers doing different products within power electronics, so for Cabcongroup – relays, terminal blocks, cable harness and large can capacitors was among the best selling products in 2023.
E.E: What sector of business do you think is expected to grow this year?
Is difficult to predict, but if the government in the different EU countries have the right attention – customers working within “green/renewable energy” should have growth opportunities.
E.E: What estimations do you have for 2024?
We believe that 2024 still will be a year for the market to recover. The first 6 months we believe the market will still face challenges in demand, but hopefully the market will pick up again when entering Q3. For Cabcongroup – we have managed to spread out our risk in many different customers.
E.E: A short message for collaborators for the beginning of the year.
What we have learned during the last 5 years is that is impossible to predict the future. Not even the near future. In Cabcongroup, we try to adapt to the different changes the world brings to us. We want to bring value to the complete supply chain from the production of the component and all the way to the customers finished product.
We look forward to a new interesting and probably once again challenging year in the electronic industry.
https://cabcongroup.com/contact-us/
