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21 May 2010

Mixed fortunes for BSH

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Dr Kurt-Ludwig Gutberlet.jpg


Appliance giant BSH has admitted new figures for 2009 show a further slump in sales in the UK market although global performance was considered satisfactory. 


"The massive drop in business already suffered in Great Britain and Spain in 2008 continued and became even more acute in 2009," said chief executive officer Dr Kurt Ludwig Gutberlet.


"Both these markets were still reeling from the repercussions of their collapsed real estate market, which had a strong impact on the built-in business."


Speaking at the group's annual press conference, Gutberlet revealed the overall drop in the UK market, where BSH has a 14.1% market share, was around 5% in sterling terms, with turnover down 4.8%. 


However, early signs for 2010 suggest the market is beginning to recover."Key economic indicators are suggesting an upswing," Gutlebert said. "The markets in Western Europe are continuing to move in the direction of greater stability. Our main markets, such as Spain, Great Britain and Turkey, are on the road to recovery.


"The UK figures were balanced by a good performance in the group's home market where sales revenue increased by 3% as a result of the continuing consumer trend towards energy efficient appliances. 


Global revenue contracted by 4% and 1.4% when adjusted for exchange rate effects. This roughly tracked the performance of the global appliance market as a whole. 


"The prominent features of the markets in Europe and America last year were consumer reticence and low consumer spending," Gutlebert continued. "But the trend towards energy efficiency developed into a mega trend in 2009. This development was a contributory factor in ensuring that BSH was better able to cope with the difficulties of 2009 than we could have expected 12 months ago."