SUDBURY, MA – Delo posted sales of €182 million (US$195 million) in fiscal year 2022, up 9% year-over-year.  

For the fiscal year ended Mar. 31, the adhesives manufacturer recorded double-digit growth in Malaysia, South Korea and the US.

Delo generated half of its revenues in Asia, one-third in Europe and one-sixth in North America. The largest single market was China, with a 31% share of sales, ahead of Germany, with 19%, and the US, with 13%.
Consumer electronics, automotive and semiconductor sectors were the highest contributors.

"Due to limited air cargo capacity and local lockdowns, smooth delivery has been an ongoing challenge," said Wolf Herold, Ph.D., managing partner of Delo. "Thanks to the great commitment of our employees and close coordination with our transport service providers, we managed to reliably supply our goods to our customers, even in this difficult environment."

Investments in research and development accounted for approximately 15% of revenue. Further progress was made in internationalization. The establishment of the Malaysian subsidiary was completed, and new facilities were opened in South Korea.

Delo currently employs nearly 900 staff, up 80 from a year ago. The company plans to create 100 additional jobs in the new fiscal year.

Ed.: €1 = US$1.07

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