German brassware brand Hansgrohe has reported that its sales exceeded one billion euros in 2016 for the first time in the company’s history.
Through its Axor and Hansgrohe brands, the company generated a total of €1,029 billion (£873bn) in 2016 compared to €964m the previous year. This figure represented a 6.7% increase in profitability. The Group’s EBITDA also rose by 10.3% to €206.1m in comparison to €186.8m in 2015.
Speaking at the company’s annual press conference in Frankfurt, Germany, CEO, Thorsten Klapproth (pictured), said: “The company’s nearly 4,800 highly motivated and tremendously dedicated employees around the world have once again proven the Hansgrohe Group is an industry leader. In the 2016 financial year, we succeeded in growing extremely profitably and faster than the market in all sales regions. This demonstrates our clients and customers place in our promise to deliver quality, innovation and design.”
The financial report revealed that the company’s growth had been achieved through the strength of the brand in Germany, where it grew by 8.8%. As a global brand, operating in 140 countries worldwide, it also performed well in Europe, as a whole, and saw strong growth in China, with a 14.3% increase in sales.
According to Klapproth, significant investment (€48.7m) in R&D and several of its production facilities also helped the brand achieve record results last year.
Hansgrohe said it plans to invest a further €42.9m in its sites in Germany as part of its “long-term strategy” in order to sustain growth and “secure its competitive edge in the global market”.