Miele Group reports 1.5% increase in turnover

28 August 2019

FLAGSHIP STORES: The new Miele Experience Centre in Amsterdam

 

GERMANY

The Miele Group continues to grow despite a cooling world economy and increased competition. In the 2018/19 financial year which ended on 30 June 2019, the global manufacturer of premium domestic appliances achieved sales of €4.16 bn. This corresponds to a growth in sales of 1.5%. Excluding trade through Miele's Korean subsidiary Yujin Robot, incorporated for the first time in company accounts, group turnover would have been 0.2% higher than in the previous year.

In its 120th year of existence, Miele successfully staged the biggest product launch in its history, thereby improving the basis for future growth. On balance, employment in Germany stands at 20,221, on a par with the previous year. Investments of €256m were made during the period under review.

In view of the mixed framework conditions currently prevailing, Miele's executive board sees this moderate growth in company sales as being “a positive and promising sign”. Although current economic risks continue to persist and fundamental changes have been wrought in the competitive landscape, Miele has set itself the target of achieving stronger growth in the current 2019/20 fiscal year and beyond.

In pursuit of this goal, Miele will turn its attention to opening new business fields and developing its internal position in R&D, production, marketing and administration to meet future needs. Considerable additional investments have been earmarked for these and other purposes. The first steps moving forward include an expansion of the Smart Home business unit and the activities of Miele Venture Capital, which takes out stakes in promising startups.

The new washing machine plant belonging to the Miele Group in the Polish town of Ksawero´w is due to come online on schedule at the start of 2020. At the same time, Miele's production location in Gu¨tersloh will be further strengthened – as the lead plant in the laundry-care sector with its three sites in Gu¨tersloh, Ksawero´w and Unic?ov (Czech Republic).

In the Professional business unit, the Miele Group, including its Italian medical technology subsidiary Steelco, recorded sales of €621m, up 5.2% compared with the previous year. A division of labour concentrating all business with central sterile supply departments (CSSDs) in hospitals with Steelco has proved valid. In turn, Miele focuses on practices, outpatient surgeries and laboratories. In total, the Miele Group grew above-average in the medical and laboratory fields, despite an investment slowdown in this area. Thanks to a thoroughly redesigned and improved model generation, similar applies to semi-commercial small laundry machines (Little Giants).

New flagship stores – Miele Experience Centres – have opened in Amsterdam, Bilbao, Gdansk, Kiev and Toronto and Miele also added a sales subsidiaries in Brazil and Thailand.



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