Miele increases turnover by 3.2%

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The Miele Group Executive Board (left to right): Stefan Breit (Technology), Markus Miele (Executive Director and Co-Proprietor), Olaf Bartsch (Finances and Administration), Reinhard Zinkann (Executive Director and Co-Proprietor) and Axel Kniehl (Marketing and Sales).

In the second half of 2019, the Miele Group achieved a turnover of 2.24 billion euro, 3.2% more than in the previous year. “This is once again evidence that we are well positioned with our products and services to increase turnover and gain market shares under challenging conditions and intense competition in the marketplace – the Executive Board commented -. During the current year, this course for growth will be further consolidated – for example with kitchen appliances from the new Generation 7000 series, which will set standards in the market with numerous exclusive innovations”. This publication of half-time figures is due to the fact that the Miele Group has changed its business year to coincide with the calendar year (instead of running from July 1 to June 30). This results in a one-off stub year. “In particular, large European markets such as Austria, Switzerland, the Netherlands, Italy and, after a long Brexit-related dry spell, Great Britain, contributed to this positive development – the company explains -. In the highly contested German market, Miele achieved turnover growth of 2.7%. In contrast, business in Hong Kong is suffering from political unrest. In China, state intervention has resulted in a subdued real estate market – also impacting business with high-quality kitchen equipment”.
Amongst the product groups, above all washing machines, tumble dryers and vacuum cleaners contributed most to sales growth. In the sector of rechargeable handsticks, the Triflex HX1 has got off to a successful market start. Besides, above-average growth during the reporting period was recorded by Miele Professional with machines and services for commercial operations, medical facilities and laboratories, and its Italian medical technology subsidiary Steelco. Compact commercial washing machines and dryers for small businesses (Little Giants), which have been on the market since last year with a completely new model series, represent a further growth driver. In total, Professional turnover grew by more than 4%. Finally, Miele is pursuing its strategic goal of continuing to expand its portfolio and grow with innovative products and digital services which meaningfully complement its core business. For example, with the takeover of the business operations of Agrilution GmbH, the company entered the field of vertical farming. Besides, Miele Operations & Payment Solutions GmbH offers a unique, app-based solution covering the furbishing, organisation, servicing and billing in shared laundry facilities (appWash). “This can even go as far as assuming responsibility for the entire operation – the company said -. This is aimed for example at student hostels, housing associations, multi-unit dwellings, campsites and launderettes”.

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