Hansgrohe Group has revealed its financial results for 2016, which saw the company exceed one billion Euros in sales for the first time in its history.
Thorsten Klapproth, chairman of the executive board, and Udo Kraus, vice president finance and controlling, announced the results at the brand’s annual financial press conference in Frankfurt, Germany.
With its two brands, AXOR and Hansgrohe, the company generated a total of EUR 1.029bn – just shy of £1bn – in sales compared to EUR 964m in the previous year.
This growth corresponds to an increase of 6.7 % (currency adjusted: 8.5 %) over the 2015 financial year.
EBITDA rose even more sharply by 10.3 % to EUR 206.1 million (EUR 186.8 million in 2015), also hitting an all-time high.
60% of the shower and bathroom specialist’s overall sales were generated in Europe, with 40% coming from the rest of the world; sales in China were said to be particularly strong.
A boom in the construction of 3-star and 4-star-hotels saw business grow for the AXOR and Hansgorhe brands in the Middle East, as well as present new opportunities there for both brands.
“The company’s nearly 4,800 highly motivated and tremendously dedicated employees around the world have once again proven that the Hansgrohe Group is an industry leader. In the 2016 financial year, we succeeded in growing extremely profitably and faster than the market in all sales regions. This demonstrates the trust our clients and customers place in our promise to deliver quality, innovation and design.” said Thorsten Klapproth.
At the conference, the company also announced plans for further growth and the need to continue to invest in the brand. In 2016, EUR 48.7m was invested financed entirely from cash flow.
Thorsten Klapproth says: “In future, the AXOR and Hansgrohe brands will be present in their respective luxury and premium market segments with very clearly defined profiles. Our bathroom and kitchen products were among the most innovative. This is also true when it comes to design: in 2016 we not only left famous brands and manufacturers such as Apple and Daimler in the iF Company Ranking behind us, but also remained the only company in the sanitary industry with a Top Six position. Therefore we want to be the number one choice of trade partners as well as consumers.”
The Hansgrohe Group has an extensive 116 year history and is renowned for marking the first hand-held shower with multiple spray types, the first pull-out kitchen tap, and the first wall bar to hold a hand-held shower. The company holds more than 17,000 active property rights, with 34 subsidiaries and 21 sales offices supplying products in more than 140 countries.