German kitchen manufacturer Rotpunkt has reported an annual turnover figure of €100 million (£85.5m) for 2023, which it describes as a “very satisfactory” result in light of the current adverse market conditions.
According to the company, these figures continue Rotpunkt’s trend of consistently healthy growth, as its turnover has steadily risen over the past decade. Rotpunkt says this year’s figures are up by €35m over 2018, but remain static compared with revenue of €100m in 2022.
Rotpunkt acknowledges that the rise in materials and energy prices has been a challenge for the company’s operations. However, it says it has been able to mitigate their effects with moderate price adjustments on its products.
The brand identified the UK as a market with comparatively slower growth than other market regions. Rotpunkt says this is because the UK has “been faced with particularly high inflation rates when compared with the rest of Europe”.
To combat this, the company plans to invest in its sales and development team in the UK, as it regards the UK as one of the largest markets in Europe. According to the brand: “It seems only logical to accelerate investment across these sales territories.”
Along with the financial figures, Rotpunkt also confirmed that the majority of its sales are still generated in western Europe, and the company enjoys an export ratio of 80%. According to Rotpunkt, France emerged as its biggest growth area for the 2023 financial period.
Andreas Wagner and Heinz-Jürgen Meyer, managing partners at Rotpunkt Küchen, believe that the results are very satisfactory, especially under what they describe as: “extremely difficult market conditions that followed the enhanced demand of Covid-19”.
Sven Herden, managing director of sales and marketing, commented: “Of course we would like to achieve more growth in turnover but, given the widely reported economic downturn and inflation, I feel these results are realistic for the beginning of the year.”
Looking ahead to the rest of this year, the company’s senior leadership commented: “The market is tough right now and in the short term, forecasts show this financial year won’t get any easier. However, we can still offer a positive outlook as 2024 has just begun and currently, there is a good build-up of orders, so we are confident over the coming months.”
Herden added: “At the moment, it is important to maintain Rotpunkt’s good economic position, strengthen existing partnerships and take a closer look at choice suppliers and new business connections. However, risk assessments of this kind are not exclusive to Rotpunkt, and retailers are also looking closely at who they can rely on.”