Einhell enjoys the most successful 6-month period in the company's history
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Einhell Germany AG has today reported excellent figures: For the first half of the financial year 2021, the specialist for DIY tools has achieved high growth rates both in terms of revenue and profits. The sales increases were largely thanks to a combination of increased market share and strong demand for Power X-Change cordless products. Overall, this means that the Einhell Group has achieved the best half-yearly results ever seen in the history of the company. And the outlook remains positive for the rest of the year as well.
Significant revenue boost over previous year
Landau an der Isar, August 23, 2021 – Demand for DIY products continues to rise: In the months from January to June 2021, the Einhell Group achieved sales revenue totaling EUR 463.4 million (previous year: EUR 341.6 million). The contribution made by sales of Power X-Change products as a percentage of total turnover was 37.2% as of June 30, 2021. Revenue is therefore clearly higher than the previous year's figures. Earnings before taxes are also up, rising to EUR 37.7 million, which corresponds to a return of around 8.1% of turnover (previous year: 6.8%). The sales increases were achieved in particular thanks to strong demand for Power X-Change cordless products, as well as through a continuous increase in market share in the core regions. As a result, Einhell is one of the three leading brands in Germany for battery-operated power tools, based on the number of units sold. In the garden sector, Einhell is number one both in the overall DIY market and in terms of cordless, battery-powered gardening tools, again based on the number of units sold.
“The drivers behind our further sales increases are firstly the global increase in demand among end consumers for DIY products that deliver the freedom of cordless operation. Here, we have been able to offer exactly the right range of products at exactly the right time with our portfolio of more than 200 Power X-Change cordless products. Secondly, our strong performance in DIY stores, POS sales, and in e-commerce channels, has also come into play. Our increased marketing investments and additional services in the trade and in the e-commerce sector in recent years are really starting to pay off now,” reflects Andreas Kroiss, CEO of Einhell Germany AG, when talking about the results.
Strong brand perception thanks to a new sponsoring partner
“Overall, we can see that the Einhell Group is on a successful path,” explains the delighted Einhell CEO Andreas Kroiss. “Based on our experiences to date during the pandemic and thanks to our strength in the various sales channels, we are expecting business developments to remain positive for the remainder of the financial year 2021. We anticipate overall turnover to be in the region of EUR 830 to 850 million.”
In order to achieve further growth, Einhell Germany AG is banking increasingly on international expansion. This has also been confirmed by a recent study from Warburg Research, which explains among other things that: “Einhell has a strong track record in terms of international growth. Further regional expansion in selected potential markets (USA, Thailand, Mexico, South Africa) will be an additional long-term growth driver. The US market remains highly interesting for Einhell.” The recently signed agreement with German soccer team Bayern Munich as a Gold Partner and “Official Home and Garden Expert” is also designed to help with this and will contribute positively to global brand building in particular. The board expects the partnership with Germany’s record champions, who have also won the triple twice, to provide a strong boost to international perception of the brand Einhell.
About Einhell Germany AG
Einhell is a leading manufacturer of state-of-the-art tools and equipment for the house and garden. From its headquarters in Landau/Isar (Bavaria), the internationally successful company has continuously expanded its innovative rechargeable battery platform Power X-Change and is now the market leader in the area of cordless tools and garden equipment. For many years Einhell has set new standards in terms of endurance, performance, and safety. Einhell customers appreciate the freedom of cordless operation for all their DIY projects, as well as the excellent value for money that Einhell products represent and the first-class customer service offered by the company.
Press contact: Monika Aigner, Tel.: +49 9951 942 826, E-Mail: monika.aigner@einhell.com