Appliance giant BSH has announced record turnover for the third consecutive year.
In its annual results, BSH revealed that it had generated €15.9 billion (£13.9bn) in 2022, an increase of 2.5% compared to 2021.
This, the company said was helped by growth in all regions – particularly in the US where it grew by 16%.
The brand also claimed that it had “defended its excellent market position” and continues to be “number one” in Europe in 2022 however, it acknowledges that is has been a “challenging year”.
“[It has been] shaped by supply bottlenecks, material price increases, and higher logistics and energy costs as a result of the warfare in Ukraine, as well as generally strained supply chains,” the company’s report says.
“In the previous two years BSH benefited, due to the coronavirus pandemic, from a boom in the
consumer goods business. This increased demand declined last year, while inflation rose
sharply.”
CEO Dr. Matthias Metz (pictured) said that there would continue to be a key focus on the robustness of the supply chain in the coming year.
“Our aim for this year is to continue to grow profitably in all regions and product categories,” he said. “The focus, alongside managing the significantly increased costs – for example, in the fields of energy, material and personnel – is on ensuring that our supply chains become even more resilient.”
BSH also achieved a 2% year-on-year increase in the Asia-Pacific/Africa region as a whole, despite reporting a 4% drop in China, due mainly to effects of the Coronavirus pandemic.
Worldwide growth drivers for the brand, by category, it said, were cooking, cooling and dish care.
In its results, BSH also revealed that research and development spending rose year-on-year by 5.3 %, with the company investing a “record” €840 million in this area in a bid to “push digital, consumer-centric products and innovations”.