AVL Records Growth of 18 Percent and Continues to Invest in New and Sustainable Mobility Solutions

AVL generated 1.86 billion Euros in turnover last year – Eleven percent flows into research and development – 60 percent of the turnover is already generated by new technologies.

AVL comes into 2023 stronger and with a significant growth of 18 percent in turnover to 1.86 billion Euros. This is partly down to ongoing investments in research and development, which amounted to eleven percent in 2022. With 2,200 granted patents in force, AVL is among the leading innovators in Austria. Two thirds of the new patent applications in 2022 were developments in the field of electrification. Consequently, AVL was recognized as Austria’s most innovative company for the eleventh time in a row. AVL recorded particularly strong growth in the field of new and sustainable technologies. The share, including solutions in the driver assistance systems and automated driving sectors, is roughly 60 percent of the total turnover worldwide.

Numerous investments are making an important contribution on the road to climate neutrality. In 2021, the “Battery Innovation Center” (BIC) was opened: “Here, we are driving the development of highly-efficient batteries and battery packs, which can be produced and recycled with minimal material consumption and a minimal CO2 footprint,” said CEO Helmut List. The test center for hydrogen and fuel cells opened in 2022. A power-to-liquid facility, expected to be the most efficient in Europe, is currently under construction. The group has also invested in a vehicle development and test site in Hungary, which will make it possible to test driver assistance systems in a real environment.

The success in all sectors is also reflected in the employment figures, with the workforce of 11,200 employees now approaching pre-pandemic level. 68 percent of those employees are engineers and scientists.

With  tireless pioneering spirit, AVL delivers concepts, solutions and methodologies, in order to achieve the vision of climate-neutral mobility, and drives innovative and affordable solutions for all applications – from traditional and hybrid to battery and fuel cell technologies. In doing so, AVL is aware of its ecological footprint: in 2021, 50 percent of the turnover was already ESG-compliant. In the summer of 2022, an ESG-linked syndicated loan agreement for corporate financing was concluded for the first time. “AVL will consistently continue to follow the path it has taken,” said List.