The V-ZUG Group continued its growth trajectory in the 2021 financial year. Net sales once again saw a significant jump of 9.5% (CHF 623.7 million; previous year CHF 569.4 million), as did the operating result with +27.5% (CHF 62.7 million; previous year CHF 49.2 million). Thanks to these record sales, the medium-term double-digit EBIT margin target was achieved ahead of schedule in the year under review. This gratifying result was driven above all by continued high demand in the Swiss Market and strong growth in international business. The second half of the year was marred for the V-ZUG Group, as it was for the entire industrial environment, by the challenges posed by the intensifying supply chain situation and the associated increase in purchase prices for materials and logistics services.
The V-ZUG Group is still expecting a positive sales performance in excess of +6% for the 2022 financial year, thanks to full order books in Switzerland and across our International Markets. For the latter, sustained sales growth in excess of 10% per year is expected over the next few years. Major uncertainties persist in relation to the war in Ukraine and to developments in supply chains and purchase prices, whereby the latter is not expected to ease much before the end of 2022. Accordingly, the EBIT margin in the first half of 2022 is expected to be within the realm of that of the second half of 2021. Subject to any relevant and lasting geopolitical upheavals, the Group is aiming for an EBIT margin of 10% for the full 2022 financial year, given the high sales and revenue expectations and effective cost control.
Another significant rise in operating result
V-ZUG Group’s net sales rose compared with the previous year, standing at CHF 623.7 million (previous year CHF 569.4 million), with both the Swiss Market (+5.4%) and strong growth in the International Markets (+40.5%) contributing to this. Internationally, both the own-brand business (+26.5%) and the OEM business (+91.9%) performed exceptionally well. Furthermore, for the first time in its history, V-ZUG delivered more than 500,000 appliances to its customers in a single calendar year.
At CHF 62.7 million, the operating result (EBIT) was 27.5% higher than the previous year’s figure of CHF 49.2 million. With an EBIT margin of 10.0% (previous year 8.6%), the V-ZUG Group reached its medium-term target of a double-digit EBIT margin as announced as part of its stock market listing for the first time. Operational productivity as measured by the EBITDA margin increased to 15.2% (previous year 14.0%). As mentioned in the 2021 Half-Year Report, rising materials prices and supply shortages – particularly of microprocessors – resulted in a significant drop in the EBIT margin from 12.4% in the first half of 2021 to 7.7% in the second half of the year, particularly as sales price increases did not take effect until the fourth quarter of 2021.
In the 2021 financial year, the V-ZUG Group’s cash flow from operating activities totalled CHF 63.5 million (previous year CHF 99.4 million), and free cash flow (after investment activities) totalled CHF 9.0 million (previous year CHF 42.0 million). The difference from the previous year is primarily due to higher stock levels and tax payments alongside continuing high levels of investment.
As at 31 December 2021, the balance sheet of the V-ZUG Group showed a strong equity ratio of 72.9% (previous year 70.9%) and cash and cash equivalents incl. securities of CHF 117.3 million (previous year CHF 107.8 million).
Category Archives: Financial
De ‘Longhi strong growth in revenues
The consolidated results for 2021 have been approved by the Board of Directors of De ‘Longhi SpA.
The BoD also proposed the distribution of a dividend of € 0.83 per share, equal to a pay-out ratio of 40% in line with the Group’s dividend policy. In addition, today’s Board of Directors has also approved a total donation of € 1 million for non-governmental organizations, in support of the populations affected by the conflict in Ukraine
Hisense Group Zhou Houjian retired, Lin Lan took over as chairman
On March 13, the official WeChat account of Hisense Group announced that Zhou Houjian had stepped down as the chairman of Hisense Group Holdings Co., Ltd., and Lin Lan, the former vice chairman, took over.
According to the public information of Hisense Group, on the afternoon of March 12, Zhou Houjian announced that he had resigned from the position of chairman of Hisense Group and officially retired before the regular monthly business review meeting of Hisense Group. The board of directors has elected the former vice chairman Lin Lan. Take over as chairmanIn 2021, Hisense Group’s sales revenue will be 175.5 billion yuan, a year-on-year increase of 24%, and overseas revenue will account for 41.3%.
Haier growing in
Grant Thornton, one of the world’s leading organizations of audit and consulting, released the list of the fastest-growing Chinese companies in the UK in 2021. Haier UK has made to the list for two years in a row.
It is reported that Grant Thornton released this list after research in cooperation with the China Chamber of Commerce and China Daily. Since 2013, the list has been issued on schedule every year. Grant Thornton surveyed 15,000 Chinese companies in the UK, among which it selected 845 companies to participate in this selection. Finally, 30 of them were shortlisted as the fastest-growing Chinese companies in the UK.According to the survey report, the technology, media, and telecommunications industries exhibited an obvious development trend in 2021. In addition, Chinese-funded enterprises have created nearly 61,000 jobs in the UK, contributing to the region’s economic growth. Of these, the diversified Haier UK is the fastest-growing company in the industry, and its IoT development plays an important role in promoting the local economy. Haier UK is the No. 1 Chinese home appliance company in the UK.Haier UK has accumulated abundant quality local resources covering service, marketing, public relations, logisticand legal affairs network, and channels through years’ development. In 2021, Haier UK insisted on creating a premium brand, achieving No. 1 in the market share of major appliances and winning the largest share in the multi-door refrigerator industry and the top spot in sales volume and revenue of wine coolers, built-in washing machines, and dryers. The Hoover brand under Haier UK has been awarded the title of Superbrands in UK for three consecutive years. Plus, Haier UK has launched a product suite equipped with IoT modules to meet the needs of British consumers for intelligent products.
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Dyson goes on hiring drive in the UK and South-east Asia
Dyson has announced that it will hire more than 2,000 engineers and digital specialists in locations, including Singapore.
£2.8 billion (S$5.06 billion) investment plan announced in 2020. This year, £600 million of the £2.8 billion will be spent on investing in technology, facilities and laboratories.The roles to be filled span all levels and are in the electronics, acoustics, design engineering, machine learning, software, data connectivity, and robotics and materials teams. Dyson reported a 5 per cent growth in 2021 to £6 billion, up from £5.7 billion in 2020. Profits also rose in tandem, growing by 16 per cent from £1.3 billion to £1.5 billion
SEB Sales increase
Groupe SEB reported sales of 8,059 million euro , up 16.1% from 2020 , with like-for-like growth of 15.5%. Compared with 2019, which stands as a more normal base of comparison than atypical 2020, Group’s revenue grew by 9.6%. A good performance was recorded by small domestic appliances, with total sales reaching 7,431 million euro, up 16.7% in comparison with 2020 and +16% like-for-like.
Electrolux sales grew of 14.3% in 2021
Electrolux published its 2021 report, which recorded a sales growth of 14.3% resulted in a net sales of Sek 126 billions. Operating income, excluding non-recurring items, reached Sek 7.5 billions corresponding to a margin of 6.0%. Combined with a strong capital turnover-rate of 5.3%, the company said it met or exceeded all its financial targets, delivering a return on net assets of 28.5%.
GE Appliances investment in USA
✅ $2+ billion invested in the U.S.
✅ 3,000+ American jobs added
✅ 2,800+ new products launched
GE Appliances, are making the investments that matter. And this year at KBIS, GE brought to life their five-year transformation journey and showed customers and guests exactly how they are doing business the GEA Way.
IRobot financial
iRobot announced its financial results for the fourth quarter and full year ended January 1, 2022. The company revenue for the fourth quarter of 2021 declined 16% to 455.4 million dollar from 544.8 million in the fourth quarter of 2020. Full-year 2021 revenue, instead, recorded an increase of 9% with a total of 1,565.0 million dollar (1,430.4 million dollar in 2020).
Regarding the geographical areas, iRobot fourth-quarter 2021 revenue declined 29% in the U.S. and 2% in Emea, which was partially offset by 19% growth in Japan. Full-year 2021 revenue grew 22% in Emea, 15% in Japan and 1% in the U.S. Mid-tier and premium robots accounted for 81% of fourth-quarter 2021 robot sales, versus 78% from the prior year’s fourth quarter. Mid-tier and premium robots represented 83% of full-year 2021 robot sales, compared with 78% in 2020.
AO new Scottish depot
AO will move to a new home in Scotland – a 20,000 ft site at the Strutherhill Industrial Estate in Larkhall – with opportunities set to arise for delivery drivers.
David Ashwell, managing director at AO Logistics, said: “I’m so pleased that we’re able to invest in Larkhall and move to a bigger site in the area – the rapid expansion of AO Logistics is really a testament to the hard work of our people.
“The new depot is in an ideal location to support our future growth as a business – we’ll be able to serve our customers in South Lanarkshire even better than before and it means we’re securing the best infrastructure for the future.”
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