Family-owned appliance maker Miele (Guetersloh, Germany) reported growth in its most recent fiscal year.
Miele, a producer of premium appliances, had sales of EUR 3.15 billion in the 2012-2013 financial year, which ended June 30, 2013. This puts the year up EUR 115 million, for a year-on-year increase of 3.8%.
Miele Group now has 17,251 employees worldwide. Miele investments in the most recent fiscal year amounted to EUR 213 million.
Miele said it is sticking to its business strategy of driving steady and proportionate growth, irrespective of economic cycles.
"Despite restraining factors such as the debt crisis in the Eurozone, we are still well on target," said Olaf Bartsch, Miele Managing Director of Finances and Administration.
In its home market of Germany, Miele sales were EUR 955 million, up 4.8% from the previous year. This slightly increased Germany's share of total Miele sales to 30.5%.
Outside Germany, Miele achieved turnover growth of 3.1%. This growth was especially strong in the united States and Australia, as well as in Russia. Decreased turnover in Southern Europe, blamed on the economic slump, was offset by good growth in Great Britain, Scandinavia, Hong Kong, and Singapore. The company said growth was boosted by high-end, built-in kitchen appliances, as well as vacuum cleaners.
Miele is represented in 47 countries through its own sales subsidiaries and in another 50 countries through distributors and importers. It has showrooms in some 70 cities worldwide.
Miele's board said it is wary of issuing forecasts for the fiscal 2013-2014 year, which began in July 2013.
"The biggest product offensive in the history of our company will put wind in our sails', says Managing Director and Co-Proprietor Markus Miele.
Despite continuingly difficult framework conditions on the investment goods front, Miele's Professional division grew by 2.3% in the period under review. Miele Professional turnover was EUR 402 million, contributing 13% to total company sales.
to Daily News