The three-year period 2024-2026 the Treviso group expects an average annual growth of 7-9% in turnover and gross margins of 15-16% company writes that it expects a continuation of the favorable growth dynamics of the coffee machine segment, in particular those capable of processing coffee beans. Growth is also expected in the Nutrition area
, both in the world of products for domestic and professional use, as well as from the opportunities coming from the nutrition area thanks to the international development of the Nutribullet brand. De’Longhi also foresees expansion opportunities in other categories such as ironing.
Category Archives: Manufacturing
Konka expanding
Shaanxi Konka Intelligent Home Appliances Co., a distinguished branch of the Konka Group and its sole smart kitchen appliance manufacturing hub in Northwest China, has successfully secured international orders surpassing 10,000 units for dishwashers this year. The primary markets for these exports are key European nations such as Germany, France, and Italy.
In a strategic move to broaden its market reach, the company is now venturing into the Central Asian region. It has already made inroads by exporting washing machines to Kazakhstan and is currently gearing up to dispatch its inaugural consignment of dishwashers to the Central Asian market.
Ebac signals ‘significant’ drop in trade
Manufacturer Ebac is in talks with investors and finance firms to aid work on its latest project, despite noting “significant issues” with a decline in trade, accounts show.
The Durham business, which makes washing machines, dehumidifiers, water coolers and heat pumps, has filed delayed accounts for 2022 which also outline a “challenging” few years for the business. In 2022 turnover rose from £20.13m to £21.86m and operating losses narrowed from £3.07m to £2.7m, with the overall loss for the year coming in at £3.19m, down from £3.25m.Ebac is in more talks with financial organisations, saying the group is “well advanced in discussions with other third parties regarding potential equity investment, securing additional debt finance and is also exploring options regarding further connected party loans”.Following publication of the accounts, Mr Elliott said: “These accounts demonstrate that the business is making good progress following a globally challenging time. This has continued into 2023 and 2024 and following investment in bringing new products to the market, our heat pumps and home dehumidifier and ventilation system are attracting considerable interest
De’Longhi Reports First Quarter 2024 Earnings
Key Financial Results
Revenue: €658.8m (up 9.4% from 1Q 2023).
Net income: €51.3m (up 33% from 1Q 2023).
Profit margin: 7.8% (up from 6.4% in 1Q 2023). The increase in margin was driven by higher revenue.The persistent growth of the coffee business, as well as the recovery of the nutrition and food preparation category, led to an organic increase in turnover at constant currencies in the high single digits for the third consecutive quarter. The consistency of trends, combined with the one-month consolidation of the business combination between La Marzocco and Eversys, enabled the Group to increase turnover by about 10%”, commented CEO Fabio de’ Longhi.
Seb group posts sales at +7.3% in the first quarter
The small household appliances market is doing better than that of large household appliances and the figures published by Groupe Seb confirm this trend. The French leader announces sales of €1,893 million for the first quarter of 2024, an organic increase of 7.3the first quarter, Groupe Seb achieved sales of €1,893 million, an organic* increase of 7.3% and 3.9% based on published data. The currency effect remains penalizing over these first 3 months with a negative impact of €75 million, or -4% of sales, but this trend should ease over the months. The scope effect has a positive impact of 0.7% or €13 million. The latter includes the consolidation of La San Marco, Pacojet and Forge Adour.
Haier manufacturer in Egypt
Haier Smart Home officially inaugurated the Egypt Ecological Park, marking a significant step in deepening its market presence in the Middle East and Africa and another milestone in its global expansion. Spanning 200,000 square meters with a designed capacity exceeding 1.5 million units, the Egypt Eco-Park’s first phase started in March with trial production of air conditioners and televisions. This month washing machines will be added, reaching a total production of more than 900,000 units per year. The second phase will include refrigerators, freezers, The Egypt Eco-Park will support the local economy by creating over 2,000 jobs
Whirlpool job cuts
Whirlpool Corp., the owner of the Maytag and Amana appliance brands, is cutting about 1,000 salaried positions worldwide to reduce costs as slow U.S. home sales limit demand.
The company has completed its first wave of layoffs of office staff and is planning to start another soon, Chief Financial Officer Jim Peters said in an interview. Earlier this year, the company said it was cutting jobs without saying how many. Whirlpool employed 59,000 workers worldwide as of the end of 2023.Shares of Whirlpool fell to their lowest price in more than four years
Miele welcome right to repair
Miele has stated they are welcome the EU Parliament’s decision on the right to repair, which will give even more impetus to the issue of repairability. In most cases, repairing their durable appliances not only helps Miele customers save money on a new purchase, but also contributes to environmental and climate protection by reducing electronic waste and conserving resources.
At Miele, we test our domestic appliances for a service life of up to 20 years. Of course, we cannot rule out the possibility that Miele appliances may become defective, but as repairs are generally less expensive and more sustainable than replacement, Miele maintain an extensive service network with qualified technicians. Miele also stock around 72,000 different spare parts and keep working parts in stock for at least 15 years after a product has been discontinued.Mieles approach is therefore inherently geared towards longevity and sustainability. Miele are not resting on their laurels, however, but are working to make service and repair solutions even better.
Miele hope that the EU directive will be implemented as uniformly as possible in all EU member states in order to minimise the implementation effort for market players
Midea to acquire Arbonia HVAC businesses
Midea has agreed the €760m purchase of Swiss group Arbonia’s Climate Division, which includes HVAC businesses Sabiana, Termovent and Tecna.
The acquisition through Midea subsidiary Midea Electrics Netherlands BV follows an announcement by Arbonia at the end of February that it had received several “unsolicited expressions of interest” in purchasing its HVAC businesses
Arçelik Completes Acquisition of Whirlpool’s Moroccan and UAE Subsidiaries
Arçelik, consumer brand Beko’s parent company, completes acquisition of Whirlpool’s MENA operations, marking a significant milestone in its growth strategyThrough this transaction, Arçelik now owns Whirlpool’s UAE and Morocco entities and manages Whirlpool’s MDA business operations in the MENA region
By combining its deep industry expertise with Whirlpool’s invaluable know-how, regional infrastructure and market presence, Arçelik will work to solidify and expand its footprint in the region
The brands we will offer in the MENA market through such acquisition are Whirlpool, Ariston, Indesit, Hotpoint, Hotpoint-Ariston, Bauknecht, Privileg and Ignis
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