In 2020, Hisense Europe group generated under two billion euros in sales revenue, of which more than 97% was in the household appliances sector. One billion of the mentioned sales revenues was generated in the markets of Western Europe market, more than 800 million euros in Eastern Europe and the remaining part in the rest of the world. Production company Gorenje generated 1.19 billion euro in sales revenue last year, which is a 42.3% increase compared to 2019.
2020 was the first year of operation within the newly established Hisense Europe Group, which includes all the company production, service, sales companies and subsidiaries in Europe and geographically covers Europe and the CIS region (Central and South-Eastern Europe, the Baltic States and the countries of the former Soviet Union). The corporate structure has been simplified, which enables more efficient business management, and business results have significantly improved since the second half of 2020.
«Last year – the comapny explains -was extremely demanding for production. From March to May, when the coronavirus epidemic swept across Europe, orders fell sharply (by as much as 65%), while three to four weeks of production shutdowns at all production sites led to extremely low levels of production and capacity utilization. With timely measures in response to the outbreak of the pandemic and the adjustment of sales strategies, we managed to create new opportunities and quickly increase sales and business volume. We were in close contact with our customers at all times and kept them informed on a daily basis about the state of supply chains in Europe and China».
«Moreover – the company goes on – Slovenia becomes Hisense’s global R&D center for kitchen appliances. Last year, Hisense Europe group invested 42 million euro in research and development activities, of which almost 12 million euro in new product development. By investing in R&D, we are improving the competitiveness of our products to support growth and structural improvement in sales. We increased the number of R&D employees to close to 400. In June 2020, we established Hisense’s global R&D center for the development of kitchen appliances in Velenje, which we are still staffing and employing engineers, graduate engineers and masters in mechanical engineering, electrical engineering, mechatronics and computer science
Category Archives: Financial
LG tops in India
During the latest years LG Electronics received different recognitions from the Indian market. In 2020 the research group TRA named LG India’s Most Trusted Brand for washing machines, refrigerators and TVs. This year Indian consumers had elevated their opinion of LG, naming it India’s Most Desired Brand in the TV, washing machine and refrigerator categories. The 7th edition of the Most Desired Brands 2021 Report was developed by TRA Research, a brand intelligence and data insights firm dedicated to understanding and analyzing stakeholder behavior. The report includes the opinions of more than 2,000 consumer-influencers across 16 Indian cities who were asked about their favorite brands. The top 1,000 brands were ranked using four foundations of desire: aspirational appeal, rational appeal, emotional appeal and communication appeal.
LG has been operating in India for 24 years, offering consumers quality products but also services. LG India extended insurance coverage with purchases of home appliances as part of its Covid-19 Health Insurance Consumer Promotion to provide up to INR 50,000 to COVID-19 patients and INR 20,000 to customers affected by vector-borne diseases such as dengue and malaria. This effort was widely appreciated by Indian consumers during this critical time and reinforced LG’s reputation as a socially responsible and caring brand.
India market set to grow
According to IndianRetailer.com website home appliances products will grow exponentially in India during the next future. Here, as in the other geographical areas around the world, Covid-19 and lockdowns have made home the center of life so that people is increasingly interested in improving technologies equipment at home.
«By 2025 – IndianRetailer.com writes – the Indian market’s demand for electronics is expected to increase by billions of dollars. Additionally, there are more chances for the developing economy to profit from the market’s rapidly shifting trend on the horizon. Smart TVs are gradually replacing traditional television sets. Not just in the foreign industry, but also in the local market, demand for fully automatic washing machines is increasing. Consumer preferences are fast-shifting, indicating a behavioral shift in demand patterns».
Demand for household appliances is growing both in the big cities and in little towns of the Indian market, where smart, cost-effective appliances are more and more requested by consumers.
Haier strong profit growth
Haier Smart Home 2021 Interim Report, demonstrating strong revenue and profit growth:
🚀 Revenues increased by 16.6% globally
🌍 In the European market, the Company’s sales revenue increased by 35%
✅ High-end branding strategy in full
Midea posts solid H1 revenue growth
China’s leading home appliance manufacturer Midea Group saw its revenue rise 24.98 percent year on year in the first half of 2021, following strong sales growth.
Its revenue reached 173.8 billion yuan (about 26.9 billion U.S. dollars) in the January-June period, the Fortune 500 company said in an interim financial report filed with the Shenzhen Stock Exchange on Tuesday.
Over the period, the company chalked up 15 billion yuan in net profit, up 7.76 percent year on year, according to the report.
Midea said its major home appliance products expanded their shares in online and offline domestic markets in the first six months of this year. The company was the top seller of household air conditioners in both markets during the period
LG Electronics applied for the largest number of patents
The Korea Intellectual Property Office said on Aug. 26 that its analysis of U.S. patent applications related to washing machines and refrigerators has found that Samsung Electronics and LG Electronics excel their competitors.
From 2011 to 2020, LG Electronics applied for the largest number of patents in the U.S. with 1,102 applications in the washing machine sector. Samsung Electronics and WINIA Electronics came in fourth and sixth with 493 and 184 applications, respectively. During the same period, LG Electronics topped the list with 764 applications for refrigerator patents. Samsung Electronics ranked second with 355 applications
Analysts say that Korean companies’ technology development for the past 10 years led to their high market shares. Samsung Electronics (21 percent) and LG Electronics (19 percent) ranked first and second in the U.S. electric home appliance market in the first quarter of this year, said North American market research company Trackline. Whirlpool, a U.S. company, accounted for 16.5 percent. In particular, LG Electronics’ sales reached 13.5 trillion won in the first half of this year, surpassing its archrival Whirlpool’s 11.9 trillion won.
However, patent applications by Chinese home appliance companies has recently surged, posing a threat to Korean makers. Chinese home appliance manufacturers ranked first and second in patent application rankings in the five major countries of Korea, the United States, Europe, China and Japan. In fact, China’s leading home appliance companies, Haier Group and Midea, are sweeping first place in patent applications in the electric home appliance sector in the top five IP countries between 2011 and 2020. Haier stood first in patent applications in the washing machine category. Midea claimed the No. 1 spots in the refrigerator and air conditioner sector
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Diet Coke announces collaboration with SMEG
Diet Coke and SMEG, are coming together to celebrate the most sacred of moments – the Diet Coke break. The collaboration will deliver customers the chance to win a limited-version Diet Coke branded SMEG FAB10 beverages fridge, alongside thousands of different prizes for the duration of September and October.
Diet Coke has been synonymous with the break moment since the early ‘90s. Those that grew up with the iconic adverts know just how crucial taking a good break can be, and where else but from an iconic SMEG fridge would you want to head to for your ice-cold Diet Coke?
To celebrate these break moments, Diet Coke is giving away one limited edition fridge a day through an promotion from 6th September through to 10th October, where consumers can simply scan a QR code from promotional packs for the chance to win a fridge or a cooler sleeve to keep their Diet Coke chilled for longer.
John Davies, head of marketing for SMEG UK&I, says: “At SMEG, we have had the pleasure of working with some amazing partners over the years. We’re delighted to have joined forces with superbrand, Diet Coke. Mirroring many of our own values, what better way to celebrate than to enjoy a chilled Diet Coke from your very own limited-edition SMEG drinks fridge!’.
iRobot have solid second quarter 2021
The second quarter of 2021 iRobot reached a revenue of 365.6 million dollar, an increase of 31% from 279.9 million dollar in the second quarter of 2020. The growth primarily reflected healthy demand from retailers in North America and from the company’s retail and distribution partners in Emea. Revenue for the first half of 2021 recorded a 668.9 million dollar versus 472.4 million in the first half of 2020. The second-quarter 2021 revenue performance was highlighted by 40% growth in the U.S., 29% in Emea and 7% in Japan over the prior year period. Mid-tier and premium robots, which accounted for 82% of total quarterly robot sales, marked a 42% revenue growth.
iRobot®, the leading global consumer robot company, designs and builds robots that empower people to do more both inside and outside of the home. iRobot created the home robot cleaning category with the introduction of its Roomba® Robot Vacuum in 2002. Today, iRobot is a global enterprise that has sold more than 30 million robots worldwide. iRobot’s product line, including the Roomba and the Braava® family of mopping robots, feature proprietary technologies and advanced concepts in cleaning, mapping and navigation. iRobot engineers are building an ecosystem of robots and technologies to enable the smart home. For more information about iRobot, please visit www.irobot.com.
Artemis Group
Today, Artemis Group, including Franke, announced positive 2021 half-year results, supported by the general recovery of the global economy. With organic growth of 32.7% in the first six months, the outcome also clearly outperforms sales prior to the Covid-19 pandemic.
Find the full overview of key figures in the latest press release:
https://www.franke.com/franke-group/en/presse/press-releases.html
Positive results for Groupe SEB,
Positive results for Groupe SEB, (includes brands Krups, Moulinex, Rowenta, Tefal)
which reported sales of 3,610 million euro, with a growth 23.9% compared with end-June 2020. The increase includes organic growth of 26.3% (768 million euro), a currency effect of -4.3% (-125 million), and a scope effect of +1.8%. Though the increase is to be compared with a first-half 2020 that was heavily impacted by the spread of the pandemic, it also reflects solid growth relative to first-half 2019, with sales up 8.2%. Drivers of the Groupe performance are both the Consumer business and a significant rebound in Professional sales in the second quarter.
The Consumer business recorded an organic growth of 29.6% in the first six months, against weak 2020 comparatives in all regions. After a brisk start to the year (+39.1% LFL), the Group maintained robust sales momentum in the second quarter (+20.6% LFL), still driven by strong demand for small domestic equipment around the world. In this environment, promotional pressure remained moderate, ensuring a firm price-mix. E-commerce continued to be a powerful growth engine, the reopening of stores having come late in numerous countries.
Thierry De La Tour d’Artaise, Chairman and CEO of Groupe SEB
Groupe SEB posted an excellent first half, – conmented Thierry De la Tour D’Artaise, chairman and CEO of Groupe SEB – with performance even outstripping pre-pandemic levels despite unprecedented external tensions in the supply chain relating to raw materials and components, delays and additional freight costs. These performances were driven by buoyant demand for small domestic equipment and continued strong momentum in e-commerce. In a context of a still unstable global health environment, but given the performance of the first half, we now anticipate for full-year 2021 a growth in reported sales exceeding 10%, along with an operating margin of close to 10
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