The operating profit of the fourth quarter falls by 69% from 10.4 to 3.2 billion (in euros) on a turnover reduced by 9% to 52 billion euros.
Category Archives: Financial
UMG TO BRING HISENSE TO SAUDI ARABIA
Saudi Arabia’s UMG partners with Hisense to bring Chinese consumer brands into Kingdom
UMG will now be an officially appointed distributor of Hisense products and will support the brand with warehousing, after-sales services and develop retail space for sales, according to a press release.
The partnership agreement was signed by Jason Ou, Hisense president of the Middle East and Africa, and Adnan Matbouli, chairman of UMG.
“Our partnership with UMG underlines our dedication to expand in the regional markets, increase our availability and provide the best brand experience to our customers as well as business partners,” said Ou.
He added: “We look forward to working together with UMG, driving on each other’s strengths and expertise with an intention of growth and sustainability in the market.”
Matbouli said that this partnership is a part of their strategy to bring top-quality electronic products to Saudi Arabia.
“As an official distributor of Hisense’s home appliance and entertainment segment in the country, we provide assurance in supporting with unparalleled accessibility to expand in the market, better service in after-sales, provision to spare parts, and warehousing to meet the business as well as consumer needs,” said Matbouli.
Established in the early 1990s, UMG has become one of the known names in the Kingdom’s consumer electronics market, with a network of 11 branches, warehousing facilities, 11 service centers, a fleet of vehicles and 23 brand shops in the Kingdom.
UMG became the sole distributor for Samsung Consumer Electronics in 1991, followed by the Italian home appliance brand, Tecnogas, with which it signed an agency agreement in 2013.
Headquartered in Qingdao, China. Hisense exports products to over 160 countries, with three listed companies – Hisense Visual Technology, Hisense Home Appliances and SANDEN listed in Shanghai, Shenzhen, Hong Kong and Tokyo stock exchanges.
De Longhi appointment
The Board of Directors of De’ Longhi SpA has approved the appointment of Nicola Serafin as General Manager, reporting directly to the Chief Executive Officer Fabio de’ Longhi, thus completing the search process for a candidate for the role of Chief Executive Officer.
In the new position, which will take effect from 1 January 2023, Nicola Serafin will have ordinary administration powers for the management of the Group.
Nicola Serafin joined the De’ Longhi Group in 2000 after experiences in Danieli SpA and in the Benetton Group. Graduated with honors in Mechanical Engineering and with an Executive Master in Business Administration at the London Business School, Nicola Serafin held roles with increasing responsibilities in the technical and production fields until his appointment in September 2016 as Chief Operating and Technology Officer, across the entire R&D, supply chain, manufacturing and logistics platform, as well as being a member of the boards of directors of various Group companies. The curriculum vitae of Eng. Nicola Serafin – which as of today holds no. 1,400 De’ Longhi shares – is published on the company’s website
Elica success story
Elica is today the global leader in the sector of kitchen extractor hoods. They have managed to record numbers
Elica has achieved the right mix of financial soundness and Italian design & innovation soul:
✔️ we are expecting to close 2022 with incremental revenues and margin, in spite of inflation, geopolitical tensions and weak demand,
✔️ Elica are back to a sustainable long term dividend distribution plan aimed at preserving strategic investments and external growth,
✔️ looking for new M&A or joint venture opportunities to grow their cooking business,
✔️ Elica are leading the ecological transition in the HVAC industry with their BU Motors EMC FIME (representing 25% of the Group’s turnover, with a 30% growth rate).
Year after year, Elica have been expanding our value proposition and increasing their innovation rate, proving vision and resilience even in uncertain times.
Hisense is celebrating its 10th anniversary in the UK.
Hisense is celebrating its 10th anniversary in the UK.
Hisense reported record-breaking sales in 2021, with the brand earning £21 billion worldwide, of which £111.7 million came from the UK.
Falmec acquisition
Falmec S.p.A., a Treviso-based company specializing in the production of design range hoods for kitchens, has finalized the acquisition of 100% of Friulana Accessori S.r.l. and Metaldomus S.r.l., companies historically active in the production of accessories and technical items for kitchens and bathrooms.
With over 50 years of expertise in the market and an internationally recognized brand Falmec proved to be the ideal partner to ensure the generational transition to the acquired Companies.
LG partner in Saudi Arabia
Shaker and LG Expand Long-Term PartnershikAl Hassan Ghazi Ibrahim Shaker Co. (“Shaker”, the “Group” or the “Company”), Saudi Arabia’s leading importer, manufacturer, and distributor of Air Conditioners and Home Appliances, has expanded its long-term strategic partnership with LG Electronics (“LG”) through a new supply agreement that will include home appliance and home entertainment products – namely televisions, refrigerators, washing machines, dryers, dishwashers, microwave ovens and more – for the Saudi market
Currys Half Year Results 2022/23
Currys slashes profit outlook as ‘hard-pressed’ customers cut back
Shares in the technology retailer were down more than 7% on Thursday after it said it has had a tough time over the past six months. fall in sales within its UK and Ireland division, on the other hand, was offset by cost-cutting and higher gross marginsCurrys said it now expected full year profit before tax to be between £100m-£125m – down from the previously guided £130m-£150m range.
SEVERIN TAKES THE NEXT STEPS IN THE REALIGNMENT OF THE BRAND COMPANY
Important milestones reached in the development and expansion of the brand business in Europe.
Ulrich Cramer, CFO for many years, is leaving the company at his own request.
CEO dr Joyce Gesing drives realignment with strong leadership team.
In 2022, SEVERIN once again reached important milestones in the transformation process. The product portfolio was streamlined and realigned. Several high-end products and innovations have been successfully brought to market, with a high level of acceptance among end consumers and trading partners. The e-commerce business was successfully expanded across Europe in a difficult year. In addition, cooperation with specialist retailers in the electronics, grilling and hardware stores sectors was intensified. Important investments were made at the company’s headquarters in Sundern, Sauerland, as well as in processes and IT systems. All of this forms the basis for the international expansion of the manufacturer of electrical household appliances over the next few years.SEVERIN is a leading international manufacturer of intuitive, innovative and sustainable electrical household appliances. As a German quality brand with a 130-year history, SEVERIN stands for reliable and durable products that make everyday life easier for customers. With its headquarters in Sundern (Germany), six of its own sales companies in Europe and a long-standing presence in Asia, SEVERIN is globally active and supplies customers all over the world.
Galanz enters partnership with Kenmore appliances
Galanz Americas LimitGlobal leader in home appliances, Galanz Americas, announced that it has entered into a partnership with iconic home appliance brand, Kenmore.
The current product portfolio will feature a range of affordable innovative kitchen appliances including a healthy mix of compact refrigeration, wine and beverage coolers and various countertop and over the range microwave offerings. Combining brand ethos from both Galanz and Kenmore, all products have been thoughtfully engineered to fit perfectly into the lives of consumers both in form and function, designed to enhance the lives of all who use them.
“For over 100 years, Kenmore has been in millions of American homes impacting everyday lives with innovative appliances,” said Sri Solur, CEO of Kenmore. “This partnership is an example of our commitment to expanding our portfolio to reach as many Americans as possible.”
The Kenmore products will cover high-demand kitchen appliance categories at an attainable value with the option to expand the current portfolio into other categories. They will be available both online and in store with national retailers early 2023.
“Kenmore is a mainstay brand with an incredible performance reputation in the home appliance industry with over 100 years of trust built with customers” said Richard Demert, Senior Director of Product Development and Quality, Galanz Americas. “We’re excited to combine Kenmore’s unmatched brand recognition with Galanz’ commitment to thoughtfully engineered, design-driven appliances to present a unique and exciting product offering to the market.”
Collectively, Galanz and Kenmore believe appliances should work hard and improve the lives of consumers. Each product in this new appliance portfolio was carefully designed to offer innovative features that not only make the day to day easier to navigate but look good while doing so.
