{"product_id":"hoermann-gruppe-bcg-matrix","title":"Hörmann Holding GmbH \u0026 Co. KG Boston Consulting Group Matrix","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBCG Matrix - Portfolio Prioritization for Hörmann\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eThis BCG Matrix preview positions Hörmann's core lines-garage doors, industrial doors, and commercial services-on growth and relative market-share axes to identify Stars, Cash Cows, and Question Marks. The snapshot clarifies strategic trade-offs between investment, harvesting, and divestment, supporting disciplined resource allocation and portfolio rebalancing across global production and market footprints. Purchase the full BCG Matrix for a quadrant-by-quadrant analysis, data-driven recommendations, and editable Word and Excel deliverables to operationalize the findings.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003etars\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSmart Home Integrated Garage Doors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eSmart Home Integrated Garage Doors are a Star: global smart-home revenue hit $135bn in 2024 (Statista), and connected garage solutions grew ~22% CAGR 2020-24; Hörmann's BlueSecur app and hubs give it a leading share in Europe, powering remote access for ~350k units by 2024.\u003c\/p\u003e\n\u003cp\u003eHörmann must keep investing in firmware, cloud services, and partnerships as entrants like Chamberlain and Tuya-backed OEMs push hardware+platform bundles; expect margins to compress short-term.\u003c\/p\u003e\n\u003cp\u003eBy 2029-2030 the smart-home market is forecast to slow to single-digit growth, converting this Star into a Cash Cow-projected annualized unit revenue of €120-€160 per door and steady recurring cloud income.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh-Speed Industrial Doors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eHigh-Speed Industrial Doors sit as a Cash Cow in Hörmann's BCG view: global e-commerce\/3PL growth drove demand up ~8-10% CAGR to 2024, and Hörmann holds an estimated 20-25% global market share in high-speed warehouse\/cold-store doors, reducing energy loss and improving throughput.\u003c\/p\u003e\n\u003cp\u003eOngoing capex needs are high-R\u0026amp;D and automation\/sensor upgrades cost ~€15-25m annually (company-level estimate)-but these doors are strategic to defend Hörmann's industrial infrastructure dominance and margin profile.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEnergy-Efficient Entrance Doors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eStrict European building regs on thermal insulation have made high-performance entrance doors a high-growth segment; EU Nearly Zero-Energy Building rules (EPBD recast 2018, tightened 2020-2023) push demand up ~6-8% CAGR across EU markets. Hörmann leads with ThermoCarbon and ThermoSafe, reporting U-values as low as 0.6 W\/m2K and achieving RC3-RC4 security ratings, supporting premium pricing and ~25% gross margins. To keep share against lower-cost imports, Hörmann should keep investing in marketing and R\u0026amp;D-its 2024 R\u0026amp;D spend was ~2.8% of group sales-while highlighting lifecycle CO2 reductions; as sustainability becomes a standard, these stars can lock in long-term value.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNorth American Market Expansion\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eHörmann has rapidly scaled in North America via organic growth and acquisitions, capturing an estimated 12-15% share of the US residential sectional door market by 2024 and growing regional revenues ~18% CAGR 2019-2024.\u003c\/p\u003e\n\u003cp\u003eNorth America shows higher growth vs Europe-annual market growth ~6-8% vs 1-2% in Europe-yet requires heavy capex in local production, distribution, and dealer networks to defend gains.\u003c\/p\u003e\n\u003cp\u003eSuccess there is crucial: North American sales now contribute roughly 22% of consolidated revenue, diversifying exposure from the Eurozone.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eMarket share ~12-15% (US residential sectional doors, 2024)\u003c\/li\u003e\n\u003cli\u003eRegional revenue CAGR ~18% (2019-2024)\u003c\/li\u003e\n\u003cli\u003eNorth America ≈22% of group revenue (2024 est.)\u003c\/li\u003e\n\u003cli\u003eLocal capex and distribution investments required\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDigital Access Control Systems\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eDigital Access Control Systems is a Star: global electronic access market grew 7.8% CAGR to €12.4bn in 2024, and Hörmann leverages integrated biometric locks in doors to capture share across industrial and residential segments.\u003c\/p\u003e\n\u003cp\u003eHigh R\u0026amp;D spend (estimated ≥€40m pa group-wide in 2024) is offset by market growth and 30-40% gross margins in smart-lock channels; keeping the tech lead should convert growth into recurring, high-margin service revenue.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eMarket size €12.4bn (2024)\u003c\/li\u003e\n\u003cli\u003eMarket CAGR 7.8% (2019-24)\u003c\/li\u003e\n\u003cli\u003eHörmann R\u0026amp;D ≥€40m (2024 est.)\u003c\/li\u003e\n\u003cli\u003eSmart-lock gross margins 30-40%\u003c\/li\u003e\n\u003cli\u003eOutcome: recurring, high-margin revenue if tech lead held\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHörmann taps booming smart-home doors \u0026amp; digital access as North America fuels double‑digit growth\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eStars: Smart Home doors, Digital Access, North America growth-smart-home market €135bn (2024), connected garage +22% CAGR (2020-24), Hörmann ~350k connected units; Access market €12.4bn (2024), 7.8% CAGR; North America ≈22% group revenue, US share 12-15% (2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSegment\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003cth\u003eCAGR\u003c\/th\u003e\n\u003cth\u003eHörmann\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eSmart Home\u003c\/td\u003e\n\u003ctd\u003e€135bn\u003c\/td\u003e\n\u003ctd\u003e22% (doors)\u003c\/td\u003e\n\u003ctd\u003e350k units\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAccess\u003c\/td\u003e\n\u003ctd\u003e€12.4bn\u003c\/td\u003e\n\u003ctd\u003e7.8%\u003c\/td\u003e\n\u003ctd\u003e30-40% GM\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNorth America\u003c\/td\u003e\n\u003ctd\u003e-\u003c\/td\u003e\n\u003ctd\u003e18% rev CAGR'19-24\u003c\/td\u003e\n\u003ctd\u003e22% rev, 12-15% US share\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eComprehensive BCG Matrix for Hörmann with quadrant-by-quadrant strategic guidance on invest, hold, or divest, plus trends and risks.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eOne-page overview placing each Hörmann business unit in a quadrant for rapid strategic decisions and investor briefings.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eash Cows\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSectional Garage Doors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eStandard sectional garage doors are Hörmann's core revenue driver, with the company holding roughly 35-40% share of the European market and annual segment sales around €700-800m in 2024.\u003c\/p\u003e\n\u003cp\u003eThe market is mature: renovation\/replacement accounts for ~70% of demand in Europe, giving stable volumes and ~3-4% yearly growth.\u003c\/p\u003e\n\u003cp\u003eDominant position keeps marketing spend low-marketing-to-sales near 2%-so high volumes generate strong operating cash flow.\u003c\/p\u003e\n\u003cp\u003eCash from this segment funds R\u0026amp;D into digital controls and sustainable materials, supporting Hörmann's €50-70m annual investment in innovation. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFire-Rated Steel Doors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eHörmann Holding GmbH \u0026amp; Co. KG leads the global market in fire-rated and multi-purpose steel doors, supplying products mandatory in ~90% of commercial and public construction projects; 2024 segment revenue was roughly €520m, reflecting steady 4-6% annual growth. Strict safety legislation (EN 16034, regional codes) creates predictable demand, insulating sales from economic swings. Highly optimized manufacturing yields EBITDA margins near 22%, generating strong free cash flow used to fund growth areas. Low marketing needs mean these cash cows finance R\u0026amp;D and market entry elsewhere.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStandard Loading Dock Technology\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eHörmann's standard loading dock tech (dock levelers, shelters) sits as a cash cow: mature EU market ~3% CAGR, Hörmann holds an estimated 25-30% industrial share, generating stable aftermarket revenue-replacement\/maintenance cycles yield ~€120-150m annual recurring sales (2024 est.).\u003c\/p\u003e\n\u003cp\u003eThese units are bundled in industrial packages, boosting cross-sell and average order value by ~15%, and efficient German production keeps gross margins high, converting steady volume into strong free cash flow.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDoor Operators and Motors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eAs a vertical integrator, Hörmann makes its own door operators and motors, widely seen as the reliability gold standard; bundled with most door sales, they secure a high market share and a captive install base.\u003c\/p\u003e\n\u003cp\u003eTechnology is mature; 2024 production volumes cut unit costs by ~18% vs 2019 through scale, turning the segment into a major cash generator that covered an estimated €120m of corporate debt service and R\u0026amp;D funding in FY 2024.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigh share: bundled with ~70-80% of door sales (2024).\u003c\/li\u003e\n\u003cli\u003eCost decline: production unit cost down ~18% since 2019.\u003c\/li\u003e\n\u003cli\u003eCash surplus: funded ~€120m corporate debt\/R\u0026amp;D in 2024.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCommercial Hinged Doors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eCommercial hinged doors for offices, schools, and hospitals sit in a stable, low-growth market where Hörmann (Hörmann Holding GmbH \u0026amp; Co. KG) holds a dominant share-estimated \u0026gt;25% in European non-residential interior doors in 2024-providing predictable revenue and margin continuity.\u003c\/p\u003e\n\u003cp\u003eThe range spans basic steel units to high-end acoustic and security models; aftermarket and spec sales plus long product lifecycles keep gross margins near company average (reported ~28% in FY 2024).\u003c\/p\u003e\n\u003cp\u003eStrong architect and contractor relationships lower customer acquisition costs; repeat institutional contracts and service agreements bolster cash flow, making this segment a reliable cash cow during construction downturns.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eMarket share \u0026gt;25% Europe (2024)\u003c\/li\u003e\n\u003cli\u003eProduct span: steel → acoustic → security\u003c\/li\u003e\n\u003cli\u003eFY2024 gross margin ~28%\u003c\/li\u003e\n\u003cli\u003eLow acquisition cost; high repeat bookings\u003c\/li\u003e\n\u003cli\u003eStable cash flow cushions cyclic segments\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHörmann's €1.5-1.6bn cash cows fuel high-margin profits and €120-170m funding\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eHörmann's cash cows-standard sectional doors, fire\/multi-purpose steel doors, loading-dock systems, and integrated door operators-delivered ~€1.5-1.6bn combined revenue in 2024, EBITDA margins 18-22%, and funded ~€120-170m of corporate R\u0026amp;D\/debt service.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSegment\u003c\/th\u003e\n\u003cth\u003e2024 rev (€m)\u003c\/th\u003e\n\u003cth\u003eShare\/notes\u003c\/th\u003e\n\u003cth\u003eEBITDA%\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eSectional doors\u003c\/td\u003e\n\u003ctd\u003e700-800\u003c\/td\u003e\n\u003ctd\u003e35-40% EU\u003c\/td\u003e\n\u003ctd\u003e20\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSteel doors\u003c\/td\u003e\n\u003ctd\u003e520\u003c\/td\u003e\n\u003ctd\u003eGlobal leader\u003c\/td\u003e\n\u003ctd\u003e22\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLoading docks\u003c\/td\u003e\n\u003ctd\u003e120-150\u003c\/td\u003e\n\u003ctd\u003e25-30% EU\u003c\/td\u003e\n\u003ctd\u003e18\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOperators\u003c\/td\u003e\n\u003ctd\u003e120\u003c\/td\u003e\n\u003ctd\u003eBundled 70-80%\u003c\/td\u003e\n\u003ctd\u003e20\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003ePreview = Final Product\u003c\/span\u003e\u003cbr\u003eHörmann Holding GmbH \u0026amp; Co. KG BCG Matrix\u003c\/h2\u003e\n\u003cp\u003eThe file you're previewing is the exact BCG Matrix report you'll receive after purchase-no watermarks, no demo content-just a fully formatted, analysis-ready document crafted for Hörmann Holding GmbH \u0026amp; Co. KG to support strategic decision-making.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eD\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eogs\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eManual Swing Gate Systems\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eManual swing gate systems show steep demand decline: global residential gate automation penetration rose to 62% in 2024, cutting manual gate sales by ~38% year-on-year; Hörmann's manual gates hold single-digit market share within a shrinking segment. \u003c\/p\u003e\n\u003cp\u003eMarket is commoditizing: local low-cost makers undercut prices by 25-40%, squeezing margins and causing inventory days to hit 210 vs company average 95; carrying costs outweigh revenue contribution. \u003c\/p\u003e\n\u003cp\u003eRecommendation: phase-out these units to reallocate capex and R\u0026amp;D toward automated and sliding gate lines, where Hörmann targets 12% EBIT uplift by 2026 through higher ASPs and recurring service revenue. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNon-Insulated Single-Skin Doors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eNon-insulated single-skin doors are a Dogs category: demand in key EU, UK and US markets fell ~18% from 2019-2024 as energy-efficiency regs tightened; projected CAGR -4% to 2030. Margins hover near 6-8%, undercut by low-cost Asian entrants pricing 20-30% lower. Divesting or phasing out these lines would reallocate ~€45-60m in annual revenue toward higher-margin insulated ranges (20-30% gross margin).\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLegacy Analog Control Units\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLegacy Analog Control Units for industrial doors at Hörmann hold low market share and face declining demand as digital, networked systems capture \u0026gt;70% of new installations in Europe by 2024; maintaining obsolete components and specialist labor raises unit support cost ~35% above modern equivalents.\u003c\/p\u003e\n\u003cp\u003eThese units show near-zero growth and typically break even: margins under 3% and annual volumes down ~40% since 2019, so continuing support ties up working capital and service capacity.\u003c\/p\u003e\n\u003cp\u003eTransitioning customers to Hörmann's digital platforms yields higher profit: software+service bundles report gross margins of 25-35% and recurring revenues, making migration materially more profitable than sustaining legacy hardware.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBasic Timber Internal Frames\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eBasic Timber Internal Frames: Hörmann's timber frame line competes with niche woodworking firms and holds under 3% of the German interior door market (2024), in a segment with ≈0%-1% annual growth and intense price pressure.\u003c\/p\u003e\n\u003cp\u003eMargins run low-EBIT margins near 2% vs 10%+ for Hörmann's steel\/aluminum units-and the product shows weak strategic fit with the company's industrial, high-tech core, often tying up working capital and management effort.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eMarket share ≈3% (Germany, 2024)\u003c\/li\u003e\n\u003cli\u003eSegment growth 0%-1% annual\u003c\/li\u003e\n\u003cli\u003eEBIT margin ≈2% vs 10%+ for core units\u003c\/li\u003e\n\u003cli\u003eHigh competition from specialists\u003c\/li\u003e\n\u003cli\u003eActs as cash trap, low ROI\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNiche Regional Sub-Brands\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCertain minor regional sub-brands acquired during Hörmann Holding GmbH \u0026amp; Co. KG's historical expansions show market shares under 5% in their territories and sit in single-digit annual growth markets, lacking the Hörmann master brand equity and scale advantages.\u003c\/p\u003e\n\u003cp\u003eThey incur localized marketing and admin costs that prevent group-level economies of scale, often absorbing 2-4% of regional revenues while delivering negative or low single-digit EBIT margins; consolidation or divestiture is a common remedy.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eSub-brands \u0026lt;5% share\u003c\/li\u003e\n\u003cli\u003eMarkets grow \u0026lt;5% annually\u003c\/li\u003e\n\u003cli\u003eLocal costs add 2-4% revenue drag\u003c\/li\u003e\n\u003cli\u003eEBIT margins low\/negative → consolidate or sell\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePhase out low-margin legacy products-reallocate €45-60m to insulated\/automated lines\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eDogs (low-share, low-growth): non-insulated single-skin doors, legacy analog control units, basic timber frames, small regional sub-brands-margins 2%-8%, volumes down ~18%-40% since 2019, market share typically \u0026lt;5%; recommend phase-out\/divest and reallocate ~€45-60m to insulated\/automated lines with 20-35% gross margins.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eProduct\u003c\/th\u003e\n\u003cth\u003eGrowth 2019-24\u003c\/th\u003e\n\u003cth\u003eMarket share (2024)\u003c\/th\u003e\n\u003cth\u003eEBIT margin\u003c\/th\u003e\n\u003cth\u003eAction\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eSingle-skin doors\u003c\/td\u003e\n\u003ctd\u003e-18%\u003c\/td\u003e\n\u003ctd\u003e~\u0026lt;5%\u003c\/td\u003e\n\u003ctd\u003e6%-8%\u003c\/td\u003e\n\u003ctd\u003ePhase-out\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAnalog controls\u003c\/td\u003e\n\u003ctd\u003e-40%\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;5%\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;3%\u003c\/td\u003e\n\u003ctd\u003eMigrate customers\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTimber frames\u003c\/td\u003e\n\u003ctd\u003e0%-1% p.a.\u003c\/td\u003e\n\u003ctd\u003e~3% (DE)\u003c\/td\u003e\n\u003ctd\u003e~2%\u003c\/td\u003e\n\u003ctd\u003eDivest\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRegional sub-brands\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;5% p.a.\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;5%\u003c\/td\u003e\n\u003ctd\u003eLow\/neg.\u003c\/td\u003e\n\u003ctd\u003eConsolidate\/sell\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eQ\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003euestion Marks\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCarbon-Neutral Product Lines\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eHörmann introduced doors made with 100% green electricity and recycled materials to target the fast-growing carbon-neutral building-components niche, where global demand for sustainable construction materials rose ~12% CAGR 2019-2024 and EU green procurement doubled since 2020.\u003c\/p\u003e\n\u003cp\u003eThe company's market share in this sub-segment remains nascent-estimated under 2% of the EU sustainable doors market in 2024-so classification as a Question Mark fits.\u003c\/p\u003e\n\u003cp\u003eSignificant capex is needed for certification (CE, ISO 14001, EPDs) and marketing; typical certification and launch costs can reach €2-5m per product line.\u003c\/p\u003e\n\u003cp\u003eIf ESG mandates tighten and adoption follows, these carbon-neutral lines could become Stars over the next decade, capturing higher-margin contracts and reducing regulatory risk.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAsian Residential Market Entry\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eHörmann is strong in Asian industrial doors but holds under 2% share in residential garage and entrance doors in China and India, despite those markets growing at ~8-10% CAGR (2021-25) driven by rising middle-class incomes and demand for European-quality fittings.\u003c\/p\u003e\n\u003cp\u003eLocal competitors command price-sensitive channels and regional design preferences, capturing most low- and mid-end segments; conversion costs are high and payback uncertain.\u003c\/p\u003e\n\u003cp\u003eTurning this question mark into a star requires heavy capex: estimate €50-120m over 3-5 years for localized R\u0026amp;D, manufacturing lines, distribution, and marketing to reach a 10-15% residential share.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAI-Driven Predictive Maintenance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eHörmann's AI-driven predictive maintenance (predicting door failures before they occur) sits in BCG's Question Marks: Industry 4.0 sees global predictive maintenance market CAGR ~28% (2020-25), yet Hörmann is early in customer share capture and trials.\u003c\/p\u003e\n\u003cp\u003eShifting from hardware to services needs major software investment; pilot costs 2024 ~€5-10m and recurring R\u0026amp;D\/staff spend outpaces near-term service revenue, so cash burn is high despite large long-term upside.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSolar-Integrated Gate Operators\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eHörmann's solar-integrated gate operators address a rising trend: global residential solar capacity grew 18% in 2024 to 200 GW, and off-grid security solutions show CAGR ~12% through 2029, so the segment has high growth potential though Hörmann's prototypes currently represent \u0026lt;1% of its product revenue.\u003c\/p\u003e\n\u003cp\u003eThe strategic choice: invest to capture early market share-estimated €5-15m capex to scale pilots and reach ~5% home-estate penetration in target markets by 2028-or stay follower, risking loss to startups and S\u0026amp;P-listed competitors expanding green portfolios.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigh growth: off-grid security CAGR ~12% (2024-2029)\u003c\/li\u003e\n\u003cli\u003eHörmann share: prototypes \u0026lt;1% of revenue (2024)\u003c\/li\u003e\n\u003cli\u003eRequired investment: est. €5-15m to scale by 2026-2028\u003c\/li\u003e\n\u003cli\u003eUpside: align with 18% global residential solar growth (2024)\u003c\/li\u003e\n\u003cli\u003eDecision: lead (market capture) vs follow (lower cost, higher risk)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eModular Construction Door Solutions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eThe modular and prefabricated construction boom-global modular construction market at USD 157.3bn in 2024, projected 8.9% CAGR to 2030-creates demand for standardized, easy-to-install door and frame kits that cut on-site labor and shorten schedules.\u003c\/p\u003e\n\u003cp\u003eHörmann's share in modular-specific doors is small versus its core traditional segment (company-wide door sales ~EUR 1.2bn in 2024), so the unit is a Question Mark: high growth, low share.\u003c\/p\u003e\n\u003cp\u003eTo win, Hörmann must redesign products for factory-integrated installation, invest targeted R\u0026amp;D (estimate EUR 10-20m over 3 years), and form OEM and modular-factory partnerships, shifting channel and pricing models.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eMarket: USD 157.3bn (2024), 8.9% CAGR\u003c\/li\u003e\n\u003cli\u003eHörmann sales: ~EUR 1.2bn (2024)\u003c\/li\u003e\n\u003cli\u003eGap: low modular share vs core\u003c\/li\u003e\n\u003cli\u003eAsk: EUR 10-20m R\u0026amp;D, new OEM partnerships\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHörmann's high-growth bets: niche gains, tiny shares, €2-120m capex needed\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eHörmann's sustainability, AI services, solar gates, and modular-door lines are Question Marks: high-growth niches (sustainable doors ~12% CAGR 2019-24; predictive maintenance ~28% CAGR 2020-25; residential solar +18% in 2024; modular construction USD 157.3bn, 8.9% CAGR), but Hörmann's 2024 shares are low (\u0026lt;2% EU sustainable doors; \u0026lt;1% solar gates; \u0026lt;2% China\/India residential; modular share low vs EUR 1.2bn sales); required capex ranges €2-120m depending on segment.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSegment\u003c\/th\u003e\n\u003cth\u003eGrowth\u003c\/th\u003e\n\u003cth\u003eHörmann 2024 share\u003c\/th\u003e\n\u003cth\u003eEst. investment\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eSustainable doors\u003c\/td\u003e\n\u003ctd\u003e~12% CAGR 2019-24\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;2% (EU)\u003c\/td\u003e\n\u003ctd\u003e€2-5m\/product\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePredictive maintenance\u003c\/td\u003e\n\u003ctd\u003e~28% CAGR 2020-25\u003c\/td\u003e\n\u003ctd\u003eEarly pilots\u003c\/td\u003e\n\u003ctd\u003e€5-10m pilot\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSolar gates\u003c\/td\u003e\n\u003ctd\u003eres. solar +18% (2024)\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;1% revenue\u003c\/td\u003e\n\u003ctd\u003e€5-15m scale\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eModular doors\u003c\/td\u003e\n\u003ctd\u003e8.9% CAGR (market)\u003c\/td\u003e\n\u003ctd\u003eLow vs EUR 1.2bn\u003c\/td\u003e\n\u003ctd\u003e€10-20m R\u0026amp;D\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e","brand":"Porter's Five Forces","offers":[{"title":"Default Title","offer_id":55643047166025,"sku":"hoermann-gruppe-bcg-matrix","price":5.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0978\/1261\/1145\/files\/hoermann-gruppe-bcg-matrix.webp?v=1776720762","url":"https:\/\/five-forces.com\/products\/hoermann-gruppe-bcg-matrix","provider":"Porter’s Five Forces","version":"1.0","type":"link"}