Gorenje Growth

Gorenje is now the largest exporter in Slovenia.
They now lead in export value for the first time, In the extremely difficult business environment of 2021, with the covid epidemic, heavily disrupted supply chains, and the soaring cost of logistics, energy, and raw materials, we adapted, persevered, and conquered. In 2021, the manufacturer of white goods Gorenje exported 1.97 billion euros of its products

De Longhi financial

The Board of Directors of De’ Longhi SpA approved today the consolidated results of the first
quarter of 2022: We are very satisfied with the results of this first quarter, even more significant in light of the difficult comparison with last year. Our group is responding with determination to the numerous challenges posed by a complex and evolving macroeconomic and geopolitical scenario, however, we remain convinced that the strategy of focusing on the core categories, of geographical development and of constant investment in products and our brands, remains the winning strategy for the creation of value in the long term” commented CEO, Massimo Garavaglia.

revenues up 8.4% to € 735.5 million (+ 5.5% on a like-for-like basis1); an adjusted2 Ebitda of € 100.1 million, equal to 13.6% of revenues, comparing with 18.9%
of Q1-2021 (but improving vs. the 10.7% of 2020);
an Ebit of € 69.1 million, equal to 9.4% of revenues compared to 14.9% of the previous
year 3;
a net profit of € 50.6 million, equal to 6.9% of revenues;
a positive net financial position of € 274.6 million, resulting from the contribution of the
12 months free cash flow (before dividends and acquisitions) of € 170.7 million.

Haier Europe achieves another record turnover and growth in 2021

The Company’s 2021 global sales revenue reached RMB 227.5 billion, an increase of
15.8% year-on-year
Financial results for 2021 show success of growth strategy for Europe: RMB 19.7
billion in revenue, up 20% year-on-year
Brugherio, April 13, 2022 – Haier Smart Home, the number one Company globally in major appliances, has
released its financial results for 2021 fiscal year, reporting a double-digit growth of 15.8% year-on-year*,
with sales revenue of RMB 227.5 billion. Profitability increased to RMB 13.1 billion, a 47.1% year-on-year
growth.
Business in overseas markets achieved record-high revenue and profitability: revenues reached RMB 113.7
billion, a 13% increase in turnover over 2020.
Haier Europe, which is headquartered in Italy, achieved sales revenue of RMB 19.74 billion in 2021, an
increase of 20% year-on-year. It now represents the #4 home appliance manufacturer in the region with
8.1% market share, while Haier Smart Home remains #1 brand in the world in the large household appliances
sector, confirming its podium position for the thirteenth consecutive year**.
In 2021, the Haier brand continued to grow in price index and constantly outperformed the industry in
market share growth.
Haier Europe is consolidating its leadership in the field of connectivity and IoT with a strategy aimed at
taking the Company to the top three home appliance manufacturers in Europe. The robust revenue and profit
margin growth were attributable to meeting the needs of diverse user groups with the optimization of its
multiple-brand portfolio – Candy, Hoover and Haier. Haier Europe improved user experience with innovative
products, where the proportion of high-end sales in Europe increased by 5 percentage points.
In 2021, the Company completed the construction of two new factories in Romania and Turkey which
specialize in manufacturing respectively refrigerators and tumble dryers, and are designed to shorten the
go-to-market and meet customers’ demand at best. A breakthrough was also made in building scenario-
based ecosystem, with the number of registered users on hOn app reaching 4.5 million.
“Despite all the headwinds, we remained committed to our strategy” – said Yannick Fierling, CEO of Haier
Europe – “I’m proud of how we managed to achieve outstanding growth and positive results, delivering our
vision to be the first consumer choice for smart home solutions. This encourages all of us at Haier Europe to
strengthen even more our mission to drive the future of IoT ecosystems and connected scenarios.”
Haier Smart Home has been once again listed in the Global 500 and World’s Most Admired Companies list
by Fortune Magazine and it has also been the world’s only IoT ecosystem brand being named again as
BrandZ Top 100 Most Valuable Global Brands in 2021.

Arçelik to grant $5 million support to 7,000 entrepreneurs

Arçelik to grant $5 million support to 7,000 entrepreneurs

Arçelik Garage Innovation Hub, a growing global open innovation platform, has to date interacted with more than 2,000 partners, scouted more than 1,800 startups and developed cooperation with more than 80 startups.

Garage Innovation Hub organized an Open Innovation Day with the participation of a large number of startups, business leaders and investors from around the world in order to contribute to the dissemination of the open innovation culture.

As part of the United Nations Generation Equality Forum commitments, Arçelik plans to reach 7,000 entrepreneurs, 5,000 of whom are women, by 2026, and support them in reaching financial support of approximately $5 million with the Garage Innovation Hub.

Partnering with venture capital funds

“As a growing global innovation platform, together with our nearly 2,000 stakeholders, including mentors, investors, universities, and entrepreneurs from all over the world; we provide business development, access to financial support and mentorship to entrepreneurs, starting from the idea stage,” Arçelik’s chief strategy and digital officer Utku Barış Pazar said.

On the path to becoming one of the leading open innovation platforms on a global scale, Pazar said they have set important goals such as supporting the incorporation of new ideas in many fields like sustainability, artificial intelligence, augmented reality (AR) and virtual reality (VR), marketing and production technologies, and health care, in each of the 146 countries where they operate in the next five years.
Arçelik has over 40,000 employees throughout the world and its global operations include sales and marketing offices in 49 countries, and 28 production facilities in nine countries. It has 12 brands, namely Arçelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, Altus, Dawlance and Voltas Beko.

It is Europe’s second-largest white goods company by market share, based on volumes. Arçelik reached a consolidated turnover of 6.5 billion euros ($6.85 billion) in 2021.

Arçelik’s 29 R&D and design centers and offices across the globe are home to over 2,000 researchers and hold more than 3,000 international patent applications to date


LG India Eyes 30% Growth in Home Appliances Business in 2022

LG, which as of now has 33% share of the overall industry in India, is looking at right around 30% this year,The company recently unveiled a new lineup of home appliances, which starts from Rs 15,000 and goes up to Rs 2 lakh. It includes new refrigerators, AI-based washing machines, wearable air purifier, water purifiers and a range of charcoal microwaves.

LG Record Revenue

LG Electronics Records Highest Quarterly Revenue in Company History

The LG Home Appliance & Air Solution Company generated first-quarter sales of Ksh 766.13 billion with an operating profit of Ksh 43.01 billion. Sales increased 18.8 per cent from the same quarter last year, recording the business unit’s highest quarterly revenue. Stable growth was driven largely by strong performance in premium appliances and new categories such as hygiene products applied with steam technology. The appliance business expects to see continued growth by expanding overseas sales in new appliance categories.

Midea Group

Midea Group published the 2021 annual report. Despite the pandemic’s numerous hurdles, we still achieved RMB29 billion in net profit, a YoY increase of 5.5%. The total revenue grew 20.2% in 2021, reaching an all-time high of RMB343.4 billion.

Ultimate Products

Ultimate Products, own a number of leading homeware brands including Beldray and Salter,

In the six months ending on January 31, the company’s revenue increased by 13.7 per cent, or £10.3m, to £85.7m. 

This was due to underlying growth and the acquisition of Salter in July 2021.

The company’s success comes despite the challenges of the pandemic and a global shipping crisis.

Record results for BSH group

BSH Hausgeräte GmbH (BSH) achieved its highest-ever turnover in the 55 years of its existence for the second consecutive year. In the 2021 fiscal year, BSH generated turnover of €15.6 billion, or a year-over-year increase of over 12%.

News of the record results have come at the same time as an announcement by group CEO and Chairwoman, Carla Kriwet, that she would be leaving the company for personal reasons. Her departure on April 30, 2022, was, she said, in order to continue her professional career outside the Bosch Group.

BSH grew its turnover sharply in all regions in the 2021 fiscal year. The manufacturer benefited from global demand for high-quality home appliances, its strong global brand portfolio, and innovative digital services for consumers.

BSH remains the undisputed market leader in the Europe region, growing its turnover by 9% last year. In particular, it recorded good growth in the major Western European markets, such as Germany, the United Kingdom, France, Spain and Italy, as well as Northern Europe and Turkey.

BSH increased its turnover in the Americas (USA and Canada) by a strong 23%.

BSH posted an 18% year-over-year increase in turnover for the Asia-Pacific/Africa region as a whole. BSH was able to grow its turnover by 17% year-over-year in the Chinese market, the largest in the region. BSH remains the leading non-Chinese home appliance manufacturer in China.

The strongest turnover driver in the 2021 fiscal year was the Refrigeration product category, which posted a year-over-year growth of 20%, followed by the product category Cooking (ovens +14%, cooktops and ventilation +13%). Turnover in Laundry Care grew by 9%. Dish Care grew its turnover by 7%. Small appliances (consumer products), such as automatic coffee machines, food processors and vacuum cleaners, also performed positively, growing by 9%.

BSH’s Customer Service, which has won multiple awards, likewise increased its turnover by 4% year-over-year. The approximately 15,000 BSH customer service staff and their service partners continued supporting consumers in some 50 countries without interruption in the second year of the coronavirus pandemic.

growing its local development centres in China, Egypt and Mexico, and with its expanded and new production facilities in those regions, BSH is underscoring its aim to place a stronger focus on addressing the specific needs of consumers in different markets. At the same time, regional production reduces transport routes and supply chains, thus making a major contribution to decreasing CO2 emissions.

Research and development spending in 2021 rose by €47m to €755m, or 5% of the total turnover. The focus moving forward will remain on consumer-centric innovations, IoT solutions, digitalisation of the entire value chain, and establishing a functioning circular economy.
BSH’s development and production operations at all its locations worldwide have been carbon-neutral since 2020. Since September 2021, BSH has procured green steel from Salzgitter AG with a 66% lower carbon footprint to manufacture washing machines at its Polish plant in Łódź. In addition, BSH also aims for all of its locations to be completely supplied with green electricity by 2030.

BSH increasingly uses recycled materials to produce new appliances – its target is for the home appliances it makes to contain a minimum of 25% recycled materials by 2025. That percentage is to be at least doubled to 50% by 2030. At the same time, BSH set the goal of increasing the proportion of recyclable materials contained in its appliances to at least 80% by 2025 and at least 95% by 2030.

BSH continues to invest in new business models, such as the “Refurbished” pilot project recently launched in Austria. For the first time, professionally refurbished Bosch washing machines are offered for sale along with a manufacturer’s warranty. In addition, consumers have been able to lease home appliances in Germany and the Netherlands under the subscription model of BlueMovement since 2021. The sharing model WeWash was launched in 2016 and offers residents in large condominiums in Germany and Austria the option of booking a washing machine by app and cashless payment for each washing cycle.