Midea Group closed 2023 with an 8.1% growth in turnover, reaching 373 billion yuan (around 48 billion euros) and above all a boom in cash flow: + 67% and in profits: + 14% at 33.7 billion yuan (4.3 billion euros). The gross margin of the Chinese group is in fact around 26-27%. Sales increased both in China (+9.9%) and in the rest of the world (+5.8%). Midea exported 151 billion yuan (19.5 billion euros).
Midea has 45% of the world air conditioning compressor market and is a leader in the Chinese washing market but is increasingly present in advanced technological sectors such as industrial automation and green technologies.Midea products have been exported to more than 200 countries and regions around the world, and the company continues to expand its production facility abroad, promoting the construction of production centers in Indonesia, India, Thailand, Brazil, Mexico, Italy , Egypt
Miele Canada Continues Forest Preservation
Premium domestic appliance manufacturer Miele Canada is pleased to kick off its third annual Miele Forest initiative, which helps preserve and restore Canada’s rich forest ecosystem. Between April 1 and June 30, 2024, every Miele dishwasher purchased in Canada directly contributes to protecting and planting trees in Canadian forests. The Miele Forest initiative brings the brand’s core sustainability value to life by making an impact today and for generations to come
Whirlpool Corporation Completes Major Milestone
Whirlpool Corporation today announced the completion of its transaction with Arçelik A.Ş (“Arcelik”). This marks a significant step in Whirlpool’s portfolio transformation and is expected to provide considerable opportunities to maximize value.
The transaction creates a new European appliance company by combining Whirlpool Corporation’s European major domestic appliance business with Arcelik’s major domestic appliance, consumer electronics, air conditioning, and small domestic appliance businesses. Whirlpool Corporation now owns 25 percent of this new entity, called Beko Europe B.V., and Arcelik owns 75 percent¹. Whirlpool Corporation is retaining ownership of InSinkErator and its EMEA KitchenAid small and major domestic appliance business. Separately, Whirlpool also completed its previously announced sale of Whirlpool’s Middle East and Africa business to Arçelik A.Ş.Beko Europe B.V. will have combined revenue of approximately €5.5² billion based on 2023 results. The company will be well-positioned to deliver value to consumers through attractive brands, sustainable manufacturing, product innovation and consumer services.
The transaction is expected to deliver more than $750 million in net present value of future cash flow value, in addition to unlocking $200-$300 million of incremental free cash flow in 2025. Additionally, Holger Gottstein and Gilles Morel, two members of Whirlpool Corporation’s Executive Committee, will be appointed to the board of directors of Beko Europe B.V.
Whirlpool Corporation will focus on its strong positions in the Americas and India, with its No. 1 share position in the major domestic appliance businesses for both North and South America. Additionally, new products, including those from the higher-margin KitchenAid small domestic appliance business, are expected to continue to be a key driver for share and profit growth
Farewell to Roberto Bertazzoni (Smeg)
On March 31, Roberto Bertazzoni died at the age of 81. He had been at the helm of Smeg as president and CEO since the 1970s , now directed by his son Vittorio. Appointed Cavaliere del Lavoro in 1993, Roberto Bertazzoni was the protagonist of the industrial epic that led the Smalterie Metallurgiche Emiliane Guastalla founded by Roberto’s father in 1948 to become a multinational with around 2,600 employees and a turnover of 900 million. The funeral on Tuesday 2 April in the cathedral of his Guastalla
Homzest CoffeeOnTheGo coffee maker
Tired of lugging around bulky coffee makers? Looking for a convenient solution for your daily caffeine fix?
Say hello to the NEW Homzest CoffeeOnTheGo coffee maker! Model: CM1009
Features:
Retro and compact design, space-saving.
User-friendly. Intuitive controls.
Advanced brewing,rich flavor.
Portable, on-the-go convenience.
Samsung’s Bespoke Jet Bot Combo™ AI and Family Hub Refrigerators
Samsung Electronics today announced that its new all-in-one robot vacuum cleaner, the Bespoke Jet Bot Combo™ AI, and its Family Hub Refrigerators have been verified to level ‘Diamond’ by UL Solutions for their IoT security capabilities. UL Solutions Inc., is a leading global safety science company that evaluates hundreds of marketing claims each year, and one of their services, the UL Verified IoT Device Security Rating process verifies smart home devices for hacking risks and security levels. The Bespoke 4-Door Flex™ Refrigerator with AI Family Hub™+ became the first in the home appliance industry to gain the ‘Diamond’ level, and other Family Hub models and the Bespoke Jet Bot Combo™ AI also achieved the same verification.
Whirlpool Australia distribution deal
Whirlpool Australia has extended its distribution agreement with Arisit, solidifying its commitment to providing cutting-edge home appliances to the Australian market.
Hitachi Home Appliances relaunched in the Philippines
Beko Philippines is excited to announce that it will now oversee the distribution and after-sales services for Hitachi branded home appliances in the Philippine market. Beko Philippines will directly coordinate with Arçelik Hitachi Home Appliances, a joint venture between Arçelik and Hitachi Global Life Solutions, Inc., established in July 2021, responsible for manufacturing, selling, and servicing Hitachi branded home appliances worldwide (excluding Japan). This transition aims to ensure uninterrupted supply and enhanced services of Hitachi branded Home Appliances products for customers in the Philippines.
Dreamy unveil its new product
Robot home appliance brand “Dreamy” announced on the 28th that it will unveil its new product “L10s Heat”The “L10s Heat” is equipped with a hot water cleaning function, which automatically cleans the wet mop with 58 º C hot water and dries it with 45 º C hot air, and prevents mold and odor with an automatic wet mop cleaning and drying system. In addition, the wet mop area is extended to 2mm of corners, allowing clean cleaning without missing out.
The product cleans dust and foreign substances with a powerful suction power of 7000Pa and can run hands-free for up to 75 days using the dust can automatic emptying function and the 3.2L capacity dust bag.
Candy relaunched
Explore the Candy revolution – a brand with a rich Italian heritage and a global reach. The latest range of products offers top-quality items with unmistakable Italianstyle, providing smart and efficient technological solutions for everyday life.
On Monday, 15 April, at 3:30 pm CEST, the new Candy range will be unveiled to the world at an exclusive event packed with surprises on the top floor of the PwC Tower in Milan.
WHITEGOODSNOW 