POSSEHL – The Entrepreneurs’ Group
  • The Group
    • At a Glance
    • Executive Board
    • Supervisory Board
    • Targets and Strategy
    • How We Manage Our Group of Companies
    • Company History
    • Possehl Foundation
  • Divisions
    • Overview
    • Possehl Worldwide
  • M&A
    • M&A Strategy
    • Contact
    • Track Record
  • Press & Publications
    • Press Information
    • Publications
    • Press Contact
  • Career
    • Working for Possehl
    • Carrer Paths
    • Vacancies
    • e-Recruitment Portal
  • DE
  • Search
  • Menu

The Entrepreneurs’ Group

Clarification/ reply to the article published by Spiegel+ on 28 June 2019

July 1, 2019/in Press Information /by Melanie Brauer

On Friday, 28 June 2019, Spiegel+ published an article under the headline “Lübeck-based Possehl Group – This is how the forced labourers live who manufacturer our computer chips” and continues with the subheading “In Malaysia’s electronics industry, labourers were kept in debt bondage. Most recently, the cover was blown off the subsidiary of a German-based company.”

With this headline, the Spiegel conveys the impression that our Malaysian Electronics subsidiary has been involved in illegal activities, human rights violations and possibly even forced labour. In this connection, we hereby state the following: Our subsidiary in Malaysia was not, at any time, involved in cases of forced labour or violations of human rights or law.

In the article, the Spiegel itself writes that our subsidiary in Malaysia has “fallen victim to a company” that has possibly failed to comply with statutory laws. Neither does the article mention any violations of law conducted by Possehl’s subsidiary, nor have any such violations ever occurred. On the contrary: In addition to having paid the invoices issued by the temporary employment agency, we paid the outstanding wages to the temporary workers directly – voluntarily and before the article was published by the Spiegel. Moreover, it remains unclear in this article whether or not the temporary employment agency commissioned by us has committed any violation of law at all.

We deplore and disapprove of the Spiegel’s approach to deliberately create such a false and defamatory impression. Furthermore, we entirely fail to comprehend the conduct of the editor, as we have made all the facts available to him.

Lübeck, 1 July 2019

The Executive Board

https://www.possehl.de/wp-content/uploads/logo.png 0 0 Melanie Brauer https://www.possehl.de/wp-content/uploads/logo.png Melanie Brauer2019-07-01 08:15:502019-07-11 08:19:57Clarification/ reply to the article published by Spiegel+ on 28 June 2019

Current press releases

  • Possehl Group reports profitable business year 2020 despite the Corona crisis February 12, 2021
  • POSSEHL 4.1: Digital conference in Lübeck November 19, 2020
  • Possehl: Broad-based lineup ensures high level of sales and earnings February 18, 2020
  • Lübeck-based Possehl Group ends 2019 financial year by expanding its portfolio even further January 14, 2020
  • Etipack S.p.A. becomes part of the Possehl Group July 11, 2019
  • Clarification/ reply to the article published by Spiegel+ on 28 June 2019 July 1, 2019
All News

L. Possehl & Co. mbH

Beckergrube 38-52 | 23552 Lübeck, Germany
Postfach 1684 | 23505 Lübeck, Germany

Phone +49 451 148-0
Fax +49 451 148-255
E-mail: info@possehl.de

© Copyright - POSSEHL 2018
  • Home
  • This is how you get to us
  • Data Protection
  • Information Obligation
  • Imprint
Possehl’s Special Purpose Construction division continues its growth course... Etipack S.p.A. becomes part of the Possehl Group
Scroll to top

This site uses cookies. By continuing to browse the site, you are agreeing to our use of cookies.

OKLearn more

Possehl at a glance

  20152016201720182019
Earnings      
Sales€ million3,5163,8773,8093,7644,140
thereof sales from precious metal trading€ million1,3111,6821,4661,2661,537
Sales adjusted for the proceeds from precious metals trading€ million2,2052,1952,3432,4982,603
Earnings before interest, taxes and goodwill amortization (EBITA)€ million178268189195191
Earnings result from ordinary operations (EBIT)€ million167256175181173
Earnings before taxes€ million145243158162153
Consolidated net profit€ million8918810010793
Dividends€ million2457181920
EBIT ratio*%7.611.77.57.26.6
Return on equity before taxes%19.928.717.216.214.3
       
Net assets      
Balance sheet total€ million1,3821,5631,6191,7881,854
Equity€ million7278489191,0021,071
Equity ratio%52.654.356.856.057.8
Working capital€ million488551600706714
       
Financial position      
Net financial assets€ million264352366268244
Cash flow from operating activities€ million22312712191184
Investment in property, plant and equipment and intangible assets
(excluding goodwill)
€ million678271108115
Depreciation of property, plant and equipment and intangible assets
(excluding goodwill)
€ million5356586168
       
Employees      
Employees, annual average 12,16412,44312,41313,36513,331
thereof domestic 6,8656,8966,7086,9856,913
thereof abroad 5,2995,5475,7056,3806,418
* sales adjusted for precious metals contained in the output