Einhell achieves the treble: More sales, more profit, more batteries
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Einhell achieves the treble: More sales, more profit, more batteries
In the 1st quarter of 2022, home and garden tool manufacturer Einhell kept up the pace on its road to success. The group is consequently lifting its forecast for the current fiscal year by a considerable margin. According to the quarterly report, published today, sales jumped 27.3 percent on the 1st quarter of 2021 to stand at EUR 292.3 million. The pre-tax result likewise improved markedly, shooting up 40.7 percent to EUR 24.6 million, which corresponds to a return of around 8.4 percent. Strong demand for Power X-Change battery-operated home and garden tools made a significant contribution to the growth in sales, with the proportion of Power X-Change products sold up 25.9 percent to 43.3 percent of total sales. Meanwhile, the cooperation begun with Bayern Munich in the 2021 fiscal year is to be stepped up too.
International TV campaign with Bayern Munich
Landau a. d. Isar, May 25th, 2022 – “We achieved the treble in the first quarter through strong growth in sales, profits and battery share. With Power X-Change, Einhell is the market leader for many products, particularly in the DACH region, and constantly emerges as the winner in independent comparison tests. We want to continue this success on the international stage,”explains Andreas Kroiss, CEO of Einhell Germany AG. The marketing measures put in place by the company will accordingly be internationalized even further in the future. The TV campaign with Bayern Munich, Oliver Kahn and the E-Team, for instance, will be rolled out to a total of 13 countries in 2022. At the same time, the company announced that it was expanding the range of Power X-Change products by 50 new machines from the previous 200 in order to further strengthen the solid foundation for future business development.
Einhell increases forecasts for sales and return
The Group’s success is all the more impressive given the difficult conditions on the global market, which is suffering generally from stop-go supply chains, a shortage of freight capacity and sharp rises in the cost of raw materials. “The political situation worldwide remains tense, but we got our homework done early. Business went very well in the 1st quarter,” Kroiss explains. The board of Einhell Germany AG was therefore increasing its forecasts for both sales and profits. Kroiss: “We had originally projected organic growth in sales of 5 to 10 percent. Now, though, we expect to reach the upper end of this range.” This would mean predicted annual sales of about EUR 1,020 million for 2022. The Group also reckons the acquisition of the Canadian Outillages King Canada will deliver another EUR 30 million or so for 2022.
“We are raising our forecast return for the 2022 fiscal year to about 8.5 - 9.0 percent before tax. This successful 1st quarter of 2022 has thus confirmed our strategy of focusing early and consistently on the battery segment. Power X-Change and the cordless freedom it brings is what is driving our growth,” Kroiss adds.
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
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