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Candy Reports Preliminary 2005 Results
Mar 6, 2006
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European appliance maker Candy Group released 2005 preliminary financial results that exceeded a turnover of 1 billion euros (approx. U.S. $1.2 billion), up 5 percent to from 951.7 million euros (approx $1,131.4 million) in 2004. Candy said 2005 marks the fifth year of consecutive growth.

According to the company, manufacturing volume increased 10.5 percent to 6.1 million units: washing machines and dishwashers were, once again, the top sellers at 55 percent of overall group’s sales of large appliances in volume and 61.6 percent in value.

For the first time ever, cooking sales volume went beyond the 1 million-unit count with 800,000 being built-in models. The company's sales volume in the built-in market went up 14 percent in Italy due to new collections and the launch of the Hoover range.

Market shares increased within a flat overall scenario of Western economies and further reduction in spending attitude by consumers: Candy Group sales (in volume) in 22 European countries increased 9.6 percent, while, according to CECED data, the overall growth of the market was a modest 0.7 percent.

In Italy, according to data from the region's appliance association, ANIE (Italian Federation of Electrotechnical & Electronics Industries), Candy sales recorded an 8-percent increase in volume, while the overall market increased 3 percent. Candy-branded appliances made up 42.7 percent of the company's total sales (in volume), while Hoover-branded ones went up slightly to 48.9 percent.

Candy said Hoover's market shares continued to improve: the European share went up 1 percentage point up in the cylinder segment, which accounts for 75 percent of the market. In the second half 2005, Hoover launched a new range of steam cleaners in Italy, quickly achieving 15 percent share in this fragmented market, which is the largest in Europe.

“We are looking forward to a year which will be even more demanding than the past one. The keys to success will be product innovation and a management, industrial, and entrepreneurial vision with continental reach," Candy Chairman Aldo Fumagalli said.

"We foresee additional uncertainties arising from the implementation of the European Directives on WEEE and RoHS," Fumagalli added. "We, as manufacturers, continue to fulfil our duties, but we think that long-term political measures are needed to relaunch and transform the European market, through incentives aiming at further improving the perception of energy efficiency, performances, ergonomics, and user- and environment-friendliness of appliances."

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