TECOSIM Group achieves solid growth in the 2023 financial year
The TECOSIM Group recorded solid growth in the 2023 financial year. With 650 employees (rising from 600 the year before) and an increase in turnover from 40 to 43 million euros, the company has continued its positive development. All the major subsidiaries in the various countries played their part in this success. By bolstering international collaboration, the Management Team has laid important groundwork for the future and is looking ahead to 2024 with optimism.
“With our services, we have handled the transformation from combustion engines to electric vehicles very well,” says Udo Jankowski, Managing Director of the TECOSIM Group. This is evidenced by the growth of business with established customers in promising areas and the acquisition of major development projects from new suppliers in the automotive market. “With our global presence, we are close to customers and can offer them the best of all worlds,” adds Dr Torben Birker, member of the TECOSIM Group Management Team. “This includes the right expertise, excellent consulting skills, flexibility and attractive prices.”
In 2023, the TECOSIM subsidiaries not only worked on large customer projects together – they also promoted the sharing of knowledge across the markets and enshrined this knowledge in internal processes. The site in Cluj-Napoca, Romania, celebrated its fifth anniversary with employees and international guests from the UK and Germany. The Management Team also revised the company’s vision, mission, values and corporate design to align them with the global strategy. The results will be presented in the first quarter of 2024, along with a website relaunch.
Forging partnerships based on trust
The formation of collaborative ventures with other companies is a key element of the new vision. The foundations for this were already laid at the end of 2022 with the partnership with A2MAC1, the French market leader in the automotive benchmarking industry. Collaboration intensified further in the past financial year and should bear fruit in 2024. The focus is on the joint development of digital twins, to bring about the faster and more cost-effective development of electric vehicles.
What’s more, in 2023 TECOSIM prepared the ground for another partnership. In 2024, the development service provider will take on the sales and first-level user support for the pSeven and pSeven Enterprise CAE software solutions in the German-speaking countries. These products from the French software developer promise shorter development times and improved product quality.
Well equipped for development projects in future fields
Dr Torben Birker sees the corporation successfully on course with its core business of digital product development. New offerings in technical computer simulation are also offering potential for growth. One of these is electromagnetic simulation. Here, TECOSIM has set up a team of experts, which has been successfully working on projects from renowned customers for several years. The engineers believe they are well equipped for the further digitisation of vehicles and development projects ranging from automotive networking all the way to autonomous driving.
“Increasingly, customers from various industries are also demanding development services in the field of electrical simulation,” says Dr Torben Birker. “We established a team to handle this and are currently expanding our knowledge in concrete projects.”
Renewable energy: “We are ready”
Where renewable energy is concerned, Torben Birker hopes that political developments in 2024 will bring new momentum. “Simulation can definitely help accelerate the energy transition and also save money. We are ready,” he says. TECOSIM has continually expanded its expertise in recent years by taking part in several research projects in the UK and Germany, such as the British scheme “Fit4Renewables”, and has kept abreast with the latest trends and developments. 2023 saw the completion of the Hannah research project in which TECOSIM was involved with partners such as Leibniz University and the Fraunhofer Institute for Wind Energy Systems. This project entailed the analysis of novel materials in rotor blade construction, with the aim of increasing strength and service life.
Personnel services: Collaboration built on trust
TECOSIM helps OEMs to fill vacancies in engineering disciplines, and in doing so it can draw on a large network of qualified talent, many years of experience, and in-depth specialist and market knowledge. With this business segment, the company was able to acquire well-known new customers from both the automotive and aerospace industries in 2023. The team also strengthened its business relationships with existing customers.
Outlook: Internationalisation, transformation and employer appeal
The TECOSIM Management plans to intensify its drive towards internationalisation in 2024. A move is planned in Cluj-Napoca, to cope with growth. In the U.S., the company headquarters is to relocate from California to Detroit. From this base in the American “Motor City”, the engineers want to broaden the company’s foothold in the U.S. market and appeal to other customer groups. The office in Irvine on the West Coast will be retained. There, experts will continue their development work for Californian customers. The Indian subsidiary plans to open a third office in the east of India. Then, in addition to the sites in Bangalore and Pune, TECOSIM will be present at all sites relevant to the automotive industry, and in an excellent strategic position. TECOSIM India made its organisation punchier and more streamlined in 2023.
In order to find and retain the best talent, all the international subsidiaries have launched schemes to increase their appeal as employers and to retain existing employees. “Our global presence is proving to be an advantage here, too, as not only can we offer our engineers, mathematicians and physicists interesting projects and a modern workplace, but also an international career in our group,” says Dr Torben Birker.
Udo Jankowski, who also chairs the Working Group of Development Service Providers in the German Association of the Automotive Industry (VDA), adds: “The shaping of the automotive transformation remains a central topic. I anticipate major progress in the development of electric car batteries, and battery recycling will become a key subject. TECOSIM is well equipped for this transition.”
