Hansgrohe recorded a decline in sales of 9.3 percent to around 1.4 billion euros in 2023. Business has collapsed particularly in Germany and China.
The fittings manufacturer Hansgrohe has not been able to continue its growth trend of recent years. The sanitary manufacturer in Schiltach announced that sales in 2023 fell primarily due to the difficult situation in the main markets of Germany and China.
“A reliable forecast was already virtually impossible last year and this also applies to 2024,” said Hansgrohe boss Hans Jürgen Kalmbach. The company cited the weak economy, particularly in the brewing industry, which is suffering from a slump in housing construction, as the reasons. Accordingly, sales in the important home market of Germany fell by almost 15 percent to almost 330 million euros.
According to the information, the company from the Black Forest achieved sales of around 1.4 billion euros in 2023. This corresponds to a decrease of 9.3 percent compared to the previous year (1.55 billion euros). The operating result fell to 201.7 million euros – a good 18 percent less than in 2022 (246.8 million euros). The bottom line was a net profit of a good 149 million euros. Despite the declines, it was the second best financial year in the company’s history, said Kalmbach.
The Hansgrohe Group employed 5,448 people worldwide in 2023 (2022: 5,639). Of these, 3,419 worked in Germany as of December 31st.
Source: Stern
