Nobilia reports growth in 2017

Nobilia has seen consistent growth in 2017 despite difficult market conditions, according to its full-year results.

Turnover increased by €36.7 million (£32.3m), or 3.4%, in 2017 to €1.12 billion, compared with €1.08bn in 2016. The company claimed this was “significantly above” the sector trend.

It also achieved a new record in kitchen production, reaching around 675,000 in 2017. New peak figures were seen in cupboard production at 6.75m and worktops at over 1.55m.

Nobilia saw export turnover of €523m in 2017, corresponding to a growth of 8% on the previous year. Exports proved to be the driver of growth in 2017, with exports representing 46.5% of business for the company, up on the 44.5% value seen in 2016.

If sales through its own kitchen studios in Sweden and the UK, plus its stakes in franchise operations in France and Belgium, are included, overall sales rose by €31.8m to €1.26bn, compared with €1.22bn in 2016.

Nobilia’s investments in 2017 totalled more than €105m, which included the production of the new XL height and new Xtra worktops, as well as on measures to increase the output quantity.

By the end of 2017, the group had increased its employee numbers by 9.8% to reach 3,315.

For 2018, the group expects its domestic market to continue to see strong demand, and said that its export business had been one of the most important growth drivers, but claimed that the outlook for the UK remained uncertain.

“The upcoming EU exit negotiations with Great Britain hold certain risks,” it said in a statement. “The first signs of consumer reticence by consumers in Great Britain, can already be seen. The development of currency parities also remains uncertain for the future.

“In such a diverse economic environment, independence from individual countries and markets remains paramount for Nobilia. With our widely diversified export sales, we feel we are well equipped for continued growth in our export segment, even against this backdrop.

“In summary, we are looking toward the coming year with cautious optimism and hence, also planning on growing in 2018.”

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