Tristone reports 26% increase in 2022 sales despite headwinds

FRANKFURT, Germany—German automotive hose manufacturer Tristone Flowtech Group has seen its annual sales grow 26.2 percent to $466 million (€444 million) in 2022 despite "very high volatility and headwinds" in the automotive market.

According to Tristone Flowtech—part of the Chinese Zhongding Group since 2017—sales hit a record level, which was 5.5 percent above its own forecast.

Of the total new business awards, 57 percent were linked to battery cooling products, according to a recent statement from Tristone Flowtech.

This development, it added, is "clearly aligned with the market and the OEM's impulse to promote vehicle electrification."

Tristone makes automotive hoses for fluid-handling applications in the areas of battery-cooling and engine-cooling, as well as for air-charge and air-intake systems.

Last year was "hard to manage" due to tensions in raw material markets, volatility in the incoming orders from some customers and "an additional unexpected impact from utilities and big inflation," the Tristone Management Board said in a statement.

Despite this, Tristone said it "maintained supply chain stability in all regions" and has kept positive earnings based on its unaudited 2022 financials.

"A solid and healthy distribution of our customer base and product offering has been key for Tristone to keep our growth and stability during this difficult year," the company said. "Our market positioning with the right products supporting the vehicle electrification is key to maintain our financial stability, growth and positive results."