Hansgrohe AG shows strong growth – and creates jobs in Germany
In 2010 large segments of the economy recovered faster than expected from the dramatic economic slump of the two previous years. There are strong indications of a sustained recovery. The export business, which was worst affected, recovered during the period under review. The same applies to the construction sector, which picked up pace considerably, particularly in the growth markets of the BRIC countries. And the previous year's growth continued in the German domestic market. Hansgrohe AG also profited from these positive trends in 2010. The company succeeded in increasing its turnover and profit to record levels.
The latest figures from the 2010 annual report:
- Turnover: €693 million (2009: €610 million)
- EBIT (operating profit): €129 million (2009: €115 million)
- EBITDA (earnings before interest, tax, depreciation and amortisation): €154 million (2009: €140 million)
- EBITDA margin: 22.2 % (2009: 22.9 %)
- Annual surplus: €94 million (2009: €82 million)
- Sustainable growth:
- Mature markets: + 9 %
- Emerging markets: + 26 %
- Turnover generated by new products 27 %
- Key figures:
- Productivity: + 3 %
- Working capital days: 70
- Turnover per employee: + 9 %
Detailed information on the development of turnover
The 2010 total net sales of 693 million euros more than compensated for the reduction in business volume from the previous year. The increase in turnover of 13.5 percent compared with 2009 – the currency-adjusted increase was 11.1 percent – was a result of the national and international business growth across all the distribution channels.
In the international project business it was particularly noticeable that construction activity, which frequently dropped during 2009 (namely in the boom markets of the Middle East and the Far East), increased sharply again. It was these "emerging markets" in particular, with their double-digit growth rates, that contributed to the positive business trend outside Germany.
In 2010 the world economy is shown to be returning to growth.
Overall, the Hansgrohe Group's international sales increased by 14.7 percent to 539 million euros during the period under review. Thus its share in the total net sales increased to 78 percent. One particularly positive result: the previous year's positive progression of the domestic German business continued in 2010. With an increase of around ten percent compared with 2009, the domestic market's net turnover increased to 154 million euros.
The increase in turnover achieved, plus the systematic process optimisation, were key factors in enabling the Hansgrohe Group to once again improve its earnings before interest, tax, depreciation and amortisation – despite markedly higher material prices. As of 31 December 2010, this stood at 154 million euros. At 22.2 percent, the EBITDA margin maintained its high level of the previous year.
