After third quarter 2014: GROHE Group on sustained uptrend with global growth
Further global sales boost / Europe and Asia still most important markets
GROHE Group S.à r.l. continues to grow. With sales up by around six percent, the Group generated sales of €1.138 billion in the first nine months of this year, compared with €1.075 billion in the same period of 2013. On a constant exchange rate basis, sales growth was no less than eight percent.
With the GROHE Group’s normalised operating EBITDA at €210 million, versus €204 million a year earlier, the EBITDA margin stays at around 19 percent.
Sales in Europe, which makes up about half of total sales, grew overall by five percent. Sales in Asia with a sales share of about 33 percent grew by seven percent, sales in the Middle East/Africa by six percent and sales in America by nine percent.
Recent business developments in the GROHE Group include the closing of the acquisition together with LIXIL Corporation of a 51 percent stake in the newly launched GROHE DAWN Watertech Holdings Pty Ltd in November. This transaction enables GROHE to systematically step up its business activities in Africa.
On 4 November, LIXIL Corporation announced a new global business model with effect from April 2015. The most notable change under this will be the creation of the LIXIL Water Technology Group (LWTG), to be headed by CEO David J. Haines, Chairman & CEO of the GROHE Group, in addition to his existing duties and with the support of a proven management team.
About GROHE
GROHE Group comprises Grohe AG, Hemer, Joyou AG, Hamburg and other subsidiaries in foreign markets. GROHE Group is the world’s leading provider of sanitary fittings.
As a global brand for sanitary products and systems, GROHE relies on its brand values quality, technology, design and responsibility in order to be able to offer “Pure Freude an Wasser”.
The GROHE Group employs some 9,000 people on average worldwide (including around 3,400 at Joyou). There are about 2,300 employees working at GROHE in Germany. In 2012, the GROHE Group generated consolidated sales of €1,405 million.
The GROHE Group has nine production plants, of which six are located outside Germany, namely in Portugal, Thailand, Canada and China (Joyou). The company currently generates 85 percent of its sales outside Germany.
In January 2014, the GROHE Group has been taken over by the LIXIL Group and the Development Bank of Japan. The LIXIL Group is a global leader in the building materials and housing equipment
