Miele reported sales of €2.77 billion (approx. US$3.9 billion) for the 2008/2009 business year which ended on June 30th, compared with €2.81 billion ($4 billion) in the previous year.
"We have every reason to be satisfied with just 1.3% lower turnover than last year," said Olaf Bartsch, board member responsible for Finances, Controlling, and Administration at Miele. "Despite adverse economic conditions, business has, on a whole, remained stable."
Miele said that it has invested lately in China and India, both countries with a population in the billions. Miele India will commence operative business in autumn 2009. In China, a representative Miele Centre is currently under construction in the heart of the metropolis of Shanghai. Miele is increasing its commitment in Eastern Europe and in the former CIS states with new subsidiaries in Estonia, Latvia, Lithuania, Serbia, and Kazakhstan.
Miele added that it recently had success at the IFA show in Berlin, where it debuted its dishwasher that requires only 8 L (approx. 2.1 gallons) of water per cycle. At the same time, Miele also launched a heat-pump dryer that consumes nearly 50% less electricity than units with conventional technology.
to Daily News