Recaro Holding has released its financial results for 2024, reporting a total revenue of €588 million, and it is anticipating a similar growth trajectory in the coming years.
The Recaro Aircraft Seating division now holds a record order book worth more than €2 billion (US$2.16bn), and projects that it is positioned for a record year in 2025, driven by solid financial performance, strategic expansion, a strong position in the economy-class seat market and growth in the business-class segment.
Recaro says its R3 long-haul economy-class seat model, which has over 40 programmes, will see a significant ramp-up in 2025. A milestone event for the R3 came in November 2024, when Iberia conducted the first flight of the A321XLR – also marking the first flight of the R3 seat. Iberia was also launch customer for Recaro’s CL6720 business-class seat (now branded the R7) in 2023.
The aviation industry is now surpassing pre-pandemic levels of traffic, and seeing high demand for aircraft and interiors products. In response, Recaro Aircraft Seating has implemented a global ‘fit4growth’ programme to enable a smooth ramp-up of seat production to help meet growing demand.
The results of fit4growth will be seen in upcoming customer programmes, including collaborations with Southwest Airlines for the R2 economy-class seat for short- and medium-range operations, with Cathay Pacific for the PL3530 long-range premium-class seat, and with Iberia for the ongoing R3 seat supply.
Recaro is continuing to invest in its products, and says it is generating a high order intake for economy-class seating. The company is also increasing its market share for business-class seats via various programmes, such as the LATAM Airlines order, and is working towards the goal of market leadership in business-class seating.
Recaro is also continuing to invest in ‘space2grow’, its cross-facility initiative to expand and upgrade its production sites to accommodate a higher employee count and greater operational output over the coming years. Recaro hired more than 300 new team members globally in 2024, and all its sites will continue to recruit new team members as the industry gains speed. In line with this initiative, a new production building and office building are expected to be added to Recaro’s facility in Poland in 2026.
A diverse portfolio
There are also developments in other parts of Recaro Holding. For example, Recaro Rail unveiled its new Luna seat in September 2024, featuring an increased level of customisation options and a 98% recyclability rate.
Meanwhile, Recaro Gaming expanded its product line with the launch of two new gaming chairs – Recaro Aer and Recaro Nxt – both of which have been recognised with German Design Awards. Both chairs offer product customisation and ergonomic features, such as an integrated lumbar support and a 5D fully foldable armrest.
Recaro’s progress has also been rewarded with a ‘Best Managed Companies Award’ from Deloitte in recognition of experienced management, operational excellence, and innovative business practices.
“I am extremely proud of the Recaro team and the many great milestones we jointly managed. Looking to the next five years, Recaro will continue to build on its strong financial performance and strategic advancements, paving the way for a strong future,” said Dr Mark Hiller, CEO of Recaro Holding, and CEO & shareholder of Recaro Aircraft Seating.
