This figure is unprecedented, the company has beaten its own turnover record in the highly competitive machine tools market. This is a watershed moment for the company, because the consolidated data on 31st December 2023 show CMZ’s continuous growth with 549 lathes delivered during the financial year.
Historic milestone: Turnover of €110m in record time
In the 2023 financial year, CMZ achieved turnover of €110m with 549 machines delivered, corresponding to the delivery of 2.52 lathes a day. The 2021-2023 Strategic Plan marked the route map for CMZ for the next few years and a clear target was set: €100m of turnover by year end 2024. To achieve that target, the company began to invest in technology and facilities to supply the high market demand.
However, at year end 2023 the company has not only exceeded forecasts by 10% but has also done so a year early, thereby achieving this historic milestone. The billing data include the technical support service and the online shop for tool holders - CMZ Store (€10m total turnover) and the turnover of CNC lathes which is around €100m.
As for the company’s main markets, 75% of sales were exports, that is, outside Spain. Its 6 European subsidiaries and its wide network of distributors have enabled them to supply both the local market and the various needs of the old continent. In addition, almost 10% of sales were international, in demanding markets like the US and Turkey. Markets with great potential which the company will continue to tap into in the years to come.
Focus on ongoing improvements to the service
As a European CNC lathe manufacturer, CMZ is responsible for the life cycle of its products from beginning to end. This means that the company also offers its own quality technical support service for all its lathes, with a team that knows the product inside out. Customer needs are always at the centre of the company’s pyramid which means it focuses on ongoing improvements to the after-sales service. To provide that service the company has a department with over 70 professionals and own teams in 6 European countries who are responsible for ensuring the durability and correct performance of the machines.
In this last financial year, the technical support service has achieved turnover of €10m with over 3,600 interventions and 6,747 spare parts delivered directly from the factory. The free hotline, where customers are assisted directly by engineers from CMZ’s factory with no intermediaries, has recorded a total of 15,000 calls.
For example, with the aim of reinforcing the service in the United Kingdom, due to the high demand for CNC lathes, the company has committed to increasing its network of qualified technicians. They also have a new Service Manager, Richard Eales, who is responsible for coordinating and providing a quality after-sales service.
In addition, in early 2023, CMZ launched the renewed online tool holder shop CMZ Store. With its new 100% customer-friendly design, this e-commerce has processed around 700 orders with an average ticket of €1,645. In this way, the company continues to provide support and streamline the entire process of purchasing tool holders for CMZ lathes, as it permits high traceability and available stock can be consulted in real time.
Next goals: 800 lathes a year and internationalisation plan
CMZ’s next goals are to keep growing steadily and have the capacity to supply the high market demand. To that end, the company will focus all its resources and efforts on increasing its production capacity to manufacture 800 CNC lathes a year, always in line with the philosophy of “in-house production”. In addition, with its sights on the international sphere, another goal set for late 2024 is the opening of a new subsidiary in the United States. In any event, achieving turnover of €110m in 2023 is a historic milestone for CMZ which it hopes to steadily increase over the coming years.
