Following a period of exceedingly dynamic growth, in comparison to the previous year, Hansgrohe was again able to post slight icreases in sales and earnings in 2008.
At € 668 million, total net sales rose by just over one percent – two percent after adjusting for currency effects – over the previous year’s sales total of € 661 million, and the figure of € 218 k for sales revenues per employee is also up by one percent year-on-year. The bulk of the growth took place during the first six months
of 2008. In the second half of the year, the effects of the worldwide crisis in the financial markets started to impact on performance in the sanitation industry as well.
Hansgrohe Group Consolidated Net Sales
Turnover
Following a period of exceedingly dynamic growth, in comparison to the previous year, Hansgrohe was again able to post slight icreases in sales and earnings in 2008.
At € 668 million, total net sales rose by just over one percent – two percent after adjusting for currency effects – over the previous year’s sales total of € 661 million, and the figure of € 218 k for sales revenues per employee is also up by one percent year-on-year. The bulk of the growth took place during the first six months
of 2008. In the second half of the year, the effects of the worldwide crisis in the financial markets started to impact on performance in the sanitation industry as well.
Due to the slump in the economy in many parts of the world, order receipts declined markedly in the third, and especially the fourth quarter. This is especially true for markets like the U.S., Spain and the UK, where the effects of the financial market crisis and the overheated real estate markets have been strongly felt. The positive performance in other markets in northern and eastern Europe and in the Far East did manage to off set this to some extent, but growth slowed even in the so-called emerging markets, even though Hansgrohe AG again recorded double-digit growth rates here.
Between growth and crisis
Due to the slump in the economy in many parts of the world, order receipts declined markedly in the third, and especially the fourth quarter. This is especially true for markets like the U.S., Spain and the UK, where the effects of the financial market crisis and the overheated real estate markets have been strongly felt. The positive performance in other markets in northern and eastern Europe and in the Far East did manage to off set this to some extent, but growth slowed even in the so-called emerging markets, even though Hansgrohe AG again recorded double-digit growth rates here.
Nevertheless, an increase in sales was achieved again in 2008, especially in the foreign business. While net sales abroad rose by two percent to € 531 million (2007: € 521 million), contributing 80 percent to total sales (2007: 79 percent), sales in Germany stagnated at € 137 million, just below the previous year’s level of € 140 million.
Growth booster export
Nevertheless, an increase in sales was achieved again in 2008, especially in the foreign business. While net sales abroad rose by two percent to € 531 million (2007: € 521 million), contributing 80 percent to total sales (2007: 79 percent), sales in Germany stagnated at € 137 million, just below the previous year’s level of € 140 million.
The combined effects of the crisis in the financial markets, the slowdown in growth compared with previous years, and the strong euro meant that the Hansgrohe Group recorded only a slight improvement in earnings before interest, taxes and amortization/depreciation to € 131 million by December 31, 2008. This represents an EBITDA margin of 19.7 percent (2007: 19.8 percent).
Earnings plus
The combined effects of the crisis in the financial markets, the slowdown in growth compared with previous years, and the strong euro meant that the Hansgrohe Group recorded only a slight improvement in earnings before interest, taxes and amortization/depreciation to € 131 million by December 31, 2008. This represents an EBITDA margin of 19.7 percent (2007: 19.8 percent).
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