Stahl is the global leader in the specialty chemical treatment of leather, as well as associated services. Stahl also produces polymers and high-performance coatings for various materials such as textiles, paper, plastic, rubber and wood. Stahl offers a wide range of solutions to the automotive, shoe, apparel & accessories and home interior sectors, and for industrial applications.
€221m since 2006 (2)
-25% compared to 2015
-30% in a single year
Stahl is the world leader in specialty chemicals and services for leather surfaces and is capturing large market shares in niche applications for high-performance chemical coatings on other substrates. It enjoys high barriers to entry as a result of its expertise, the long-term relationships it maintains with its principal customers, which include major luxury and high-end car brands, as well as the very high level of skills of its “golden hands” technicians. Stahl has prospects for sustained growth generated by global leather consumption markets, in Asia in particular, and the development of fast-growing niche markets for high-performance coatings. The potential consolidation in the sector we identified in 2006, combined with rigorous financial discipline, has allowed Stahl to expand further and strengthen its market leadership. It derives 65% of its sales from high growth regions. Since its initial investment of €171 million in Stahl in 2006, Wendel has received €341 million in dividends and loan repayments, owing in particular to Stahl’s very strong cash generation. At end-2018, Wendel announced the acquisition of 4.8% of the capital of Stahl from Clariant for €50 million, bringing its total investment in the Company to €221 million.
Amid a still-volatile global economy, Stahl will continue to target organic growth and increased market share while taking all necessary steps to protect its profitability and cash generation. To do so, it will focus on ongoing product innovation, while stepping up marketing efforts and capitalizing on the positions it has established in high-growth regions. Stahl also intends to continue to develop service-oriented made-to-order solutions to its clients and develop solutions for numerous substrates, in order to expand its scope of business and gain further market share. The group will continue to capitalize on its strengths, which are its innovation capabilities (innovative environmentally-friendly solutions and customized technologies), its strong position with main clients, exposure to emerging markets and active cost and cash flow management (strict financial discipline and value-adding investments).
Despite recent difficult performances, Stahl’s businesses continue to be driven by powerful long-term trends. Its markets are gradually shifting to the emerging market countries, notably in Asia, and increased environmental regulations are beneficial; the Company is ahead of legislation and has the only compliant end-to-end solution set for its markets. The trend towards bio-based chemicals continues to develop, where Stahl is the market leader with a solid bio-based chemistry portfolio.
Through its continuous improvement culture, Stahl ensures that the impact of its activities on the surrounding ecosystems is limited. Stahl’s strategy is to promote greater transparency throughout the whole supply chain, leading to a more sustainable industry and a progressively lower environmental footprint. Sustainability also represents a significant opportunity for Stahl, to gain competitive advantage in the marketplace and drive operational excellence throughout the Company.
- reduce its CO2 emissions by 10% by 2020 compared to 2015. Target achieved in 2019 with -25% of CO2 emissions.
- 100% of green energy consumption in European plants / 36% of renewable energy on the total energy consumption
Responsible Chemistry Initative based on 3 pillars: low-impact chemical production, biotechnology and circularity. In 2019, 76% of coating products are water-based.
New safety awareness campaign, called Road to Zero. In 2019, the accident frequency rate decreased by 30% compared to 2018.
in 2019, 93% of production volume come from sites certified ISO 14001 and 99,7% from ISO 9001
Huub van Beijeren
CEO, until June 30, 2021
Board of Directors
Claude Ehlinger (Chairman)
Félicie Thion de la Chaume
Appointments and Compensation Committee
Félicie Thion de la Chaume (Chairwoman)
Félicie Thion de la Chaume