03.05.2022 – 15:41

Einhell Germany AG

History of success continues – Einhell posts record sales and earnings in 2021 again

History of success continues – Einhell posts record sales and earnings in 2021 again

Einhell Germany AG is writing another chapter in its success story: According to its annual report for 2021, the leader in home and garden tools has exceeded the already very good figures for the previous year by a considerable margin both in sales and in earnings. Consolidated sales jumped 28 percent to EUR 927 million, while the pre-tax return climbed just under 13 percent to 8.8 percent. That represents a consolidated pre-tax result of EUR 81.8 million.

Dividend payout

Landau a. d. Isar, April 26th, 2022 – “We recognized the need of DIYers and amateur gardeners for battery-operated solutions many years ago, and positioned ourselves as a category leader in this segment. That, along our supply reliability and innovative products, enabled us to win market share and increase our sales in many different sales markets across the world,” says Andreas Kroiss, CEO of the company since 2003, commenting on the positive development. The Management Board and the Supervisory Board is proposing that the annual general meeting approve a dividend payout of EUR 9.688 million. This is equivalent to a dividend of EUR 2.60 per preference share (previous year: EUR 2.20) and EUR 2.45 per common share (previous year: EUR 2.14).

Power X-Change battery system driving success

The strongest basis for the enduring business success is the Power X‐Change product series, with which Einhell offers the most efficient battery system for DIYers and amateur gardeners on the market. All Power X-Change batteries can already be used in more than 200 home and garden tools across different ranges. In independent consumer tests, such as those run by Stiftung Warentest, cordless tools from Einhell again and again score top marks or emerge as test winners. The company will be expanding the extremely successful Power X-Change platform once again in 2022. The plan is to expand the range to 350 products by the year 2025.

Strong brand winning over the market

The further expansion of the Einhell brand represents one of the most important pillars of the company’s strategy. The company has been able to increase awareness of the Einhell brand massively over recent years. One of the strategically important elements here is the cooperation with soccer team Bayern Munich and Oliver Kahn. At the start of the 2021/2022 Bundesliga season, Einhell Germany AG was made “Gold Partner” and “Official Home and Garden Expert” for the German record-holder and two-time treble winner Bayern Munich. Oliver Kahn, Bayern Munich CEO, is also a Einhell brand ambassador. “The partnership underlines our ambition of occupying a market-leading role in the future in all markets in which we are active, and persuading even more people that our battery platform is a contemporary alternative to petrol-driven engines and corded machines. It also helps to enhance the awareness of the Einhell brand internationally, since Bayern Munich is a global ambassador for first-class quality from Germany,” says Einhell CEO Andreas Kroiss.

International growth and supply chain in focus

In addition to customer relationships that have been stable for many years, new customers were acquired and the market share in relevant segments was further expanded due to the attractive product range and high supply reliability. With online business continuing to grow strongly, it is the strategic goal of Einhell to offer the best content and reach customers through very high visibility. Einhell will continue to follow the route it has taken towards the digital leadership it desires, which is why the company is offering relevant services on its website such as battery tips and a spare parts shop.

Einhell continued with the expansion of the logistics center at its Landau headquarters in 2021, erecting a fully automated high-bay warehouse with more than 41,000 pallet spaces. “We will carry on driving digitalization in 2022 through the introduction of central capacity management, the launch of a new transport management system in China, and the expansion and introduction of inbound freight management,” says Andreas Kroiss outlining the way ahead.

Einhell will spend the next few years continuing to expand its strong international distribution network with a presence in over 90 countries in order to achieve its medium-term sales targets. In the 2021 fiscal year Einhell Germany AG established a company in Uruguay, holding 100 percent of the shares. Just recently, in February 2022 Einhell Germany AG signed a final agreement for the purchase of two thirds of the shares in Canadian outlet Outillages King Canada, Inc.

The company does not anticipate any further major effects in 2022 from the ongoing coronavirus pandemic. Nevertheless, the current shortage of freight resources and the associated sharp increase in shipping costs and raw material prices are having a negative impact on business activity.

The CEO, who has now been at the helm of the company for 19 years in total, reckons the group remains very well positioned for the future, however. For the 2022 fiscal year the Einhell Group expects sales to grow organically to some EUR 1,020 million alongside a pre-tax return on sales of about 8.5 to 9 percent.

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