Exceeds $4 bn for first time.
Miele sales have surpassed $4 billion Euro for the first time in the company’s history, recording sales growth of 4.3% to reach 4.1 billion Euro ($6.42 billion) for the year ended 30 June, 2018.In constant currency terms, sales during the year grew 7.1%.
For three consecutive years, Miele has grown considerably faster than its own multi-year average – and the 2017/18 financial year got off to a promising start. However, later on in the year, the entire market cooled down rapidly, accompanied by an intensification of unfavourable exchange rates.
In Germany, Miele sales grew by 2.4% to 1.21 billion Euro ($1.89 billion). Outside Germany, Miele significantly increased turnover in China; however, above-average growth also came from Canada, Austria and Russia. In southern Europe, Miele has continued its recovery in Spain and Greece.
The USA and Australia – Miele’s biggest markets after Germany – achieved satisfactory turnover growth in local currency.
Miele ANZ managing director, Sjaak Brouwer commented, “We are proud of our contribution to the global results and excited about the new product innovations on the way, which will provide a great opportunity to further develop the local business.”
L to R: The Miele Executive Board: Dr. Stefan Breit (Technology), Dr. Markus Miele (Executive Director and Co-Proprietor), Olaf Bartsch (Finances and Administration), Dr. Reinhard Zinkann (Executive Director and Co-Proprietor), Dr. Axel Kniehl (Marketing and Sales). (Photo: Miele)
Hob units, ovens and coffee machines sold in far higher numbers than in the previous year, largely driven by newly introduced model series. This included the TwoInOne hob units with integrated downdraught extractor, upgraded ‘Active’ ovens and countertop coffee machines from the CM5 series. On the floorcare front, the new Scout RX2 robotic vacuum cleaner got off to a successful start.
Miele debuted its revolutionary Dialog oven at IFA 2017 in Berlin and at Eurocucina in Milan this year; Miele had its largest kitchen trade show presence in the company’s history.
At IFA this year, Miele will present a world-first in dishwashers. New washing machines and tumble dryers will offer improved energy efficiency and additional convenience features.
During FY18, the Miele Group invested 272 million Euro ($426 million) – a 20% increase on the previous year, which already marked a historic all-time high.