Banner – The Power Company, a European manufacturer of lead-acid batteries and accessories, has reported continued growth for the 2024/25 financial year. Despite what the company describes as a “challenging automotive market environment,” Banner saw sales increase by 200,000 units to 4.2 million, with revenues growing by €10 million to €312 million. The company maintains a high export ratio of 95%.
With €25 million invested over the past three years, Banner remains confident in the European lead-acid battery market. This confidence is supported by their strong gains in both volume and turnover.
The growth is largely attributed to a robust aftermarket trend, which has offset a decline in new vehicle production in the OEM sector. This aftermarket strength is linked to the rising average age of vehicles in Europe, now nearly two years older, increasing replacement demand. Banner’s UK aftermarket operation has also recorded continued growth in sales and profitability.
Lee Quinney, Country Manager, stated: “Overall demand from the automotive sector continues to be buoyant here in the UK, as is the case with the CV, leisure and bike sectors. What is underpinning our performance is not only the quality of Banner’s product offering, but also the strength of the brand at O/E level, and unprecedented levels of product availability.” He also noted that over 90% of electric vehicles still use 12V lead-acid batteries, indicating sustained demand.
Banner’s Energy Solutions division, encompassing traction, semi-traction, and stationary energy systems, also continues to perform well. The company plans further development in stationary systems, leveraging its expertise to meet demand for reliable energy solutions.
In the past 12 months, Banner invested €10 million, with significant funds allocated to upgrading its maintenance workshop and establishing a new vocational training centre. This centre supports the mentoring of ten apprentices—five in technical fields and five in commercial roles—featuring a fully equipped classroom and practical learning stations.