Ingeteam plans to hire 1,000 people and become a leader in technology to electrify society
13 Mar 2023

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  • The company, which has presented its new strategic plan for 2022-24, forecasts 44% growth in turnover to nearly €1bn by 2024.
  • Ingeteam celebrates its 50th anniversary positioning itself as a key player in the energy transition via electrification.
  • In addition, it plans to invest €210m over the next 3 years, of which €140m will be dedicated to R&D to further its commitment to its in-house technology.
  • It currently employs 4,100 people, with plans for 5,100 by 2024, adding more than 100 R&D staff.
  • It embarks on its strategic plan with a record order book of over €800m, highly diversified across different sectors and geographies.
  • The company has undergone internal reorganisation to become more market-oriented and make better use of internal efficiencies.
  • The company closed the 2019-21 period on target in terms of R&D investment, staffing levels and revenue growth, despite Covid and other challenges.

Ingeteam today presented its new strategic plan for 2022- 2024, which aims to consolidate its position as a leader in power conversion technology, which makes the electrification of society possible. It is a plan for growth (in terms of turnover and staff) and investment (both in technology and facilities). The plan anticipates the creation of 1,000 jobs, more than 100 in R&D. Ingeteam currently employs 4,100 people and the workforce is expected to reach 5,100 by the end of 2024. In addition, the company has announced a turnover objective of nearly €1bn for 2024, which would entail culminating the strategic plan with a 44% growth in turnover.

The 2022-2024 strategic plan constitutes the roadmap that will take Ingeteam to the next level, achieving nearly €1bn in turnover. The company has implemented matrix management, with a customer-focused sector orientation, to drive sales of its full range of products, systems and services. It has complemented this sectoral organisation with 8 functional areas and 3 technological segments (electric machine, converters and control, and services) that pursue an overall specialisation, the mainstreaming of best practices and internal efficiency. It has put in place ambitious investment plans to consolidate its position as a technological leader in the sectors in which it operates. The renewable energy market is set to grow rapidly in the coming years and with its new Strategic Plan Ingeteam aims to position itself as a key player in the energy transformation.