Grohe sees 10pc jump in Q1 sales
Beirut, May 9, 2011
Grohe, a leading premium brand for sanitary fittings, said its consolidated sales in the first quarter grew more than 10 per cent to euros 267 million ($381 million) compared to euros 242 million the previous year.
In March, the company posted its highest-ever monthly sales of over euros100 million.
In 2010, the company's kitchen and bathroom fittings and showers, automatic fittings for the commercial and contract sectors, and installation and flushing systems generated sales of euros 980 million.
The consolidated operating result (Ebitda) of euros 52 million in the first quarter was a 9 per cent increase on the prior-year period. The Ebitda margin stood at 20 per cent.
With its headquarters in Hemer and Corporate Center in Düsseldorf, the company currently employs some 5,400 people worldwide, including 2,400 in Germany.
Grohe maintains six production plants, three of them outside Germany in Portugal, Thailand and Canada. About 82 per cent of the company’s sales are generated outside its home market, said the Grohe statement.-TradeArabia News Service
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