Blum revenues up

Austria-based fittings manufacturer Blum has reported an 8% increase in revenue in the year to June 30.

Revenue reached €1.7 billion (£1.5bn) for the financial year 2016/17, with Blum attributing the growth to innovative products, international market presence, consistent investments in R&D and highly qualified staff.

Almost half (48%) of the group’s turnover was generated within the EU, and 16% in the USA.

Despite seeing growth across all markets, the company reported a loss of revenue in the UK because of the falling pound. However, all other regions in Europe grew, it said.

“The high level of motivation of our worldwide team and the excellent cooperation of all departments and organisations within our group are an essential building block of our success,” said chief executive Gerhard Blum (pictured).

The number of employees increased by 291 people compared with the previous year to reach 7,140 staff members.

The company also confirmed that 93 new apprentices would start their technical training at Blum Austria on September 1, 15 of which are girls. This corresponds to a 16% increase in the number of female apprentices compared with the previous year.

In total, Blum has been training 341 new apprentices since last autumn, with three new business trainees starting in the UK as part of an initiative to increase training throughout the business.

Blum’s total investments for the year amounted to €174.6m.

Looking to the future, the company said it hoped that the principles of European free trade would be upheld.

“The economic trend in Europe is positive overall,” continued Blum. “The biggest factor of uncertainty from our point of view is caused by the Brexit negotiations.”

For the Asia Pacific region, the company expected the positive economic developments to continue. Signs of economic recovery in South America also contributed to the overall positive outlook.

Home > News > Blum revenues up