DGAP-News: Einhell Germany AG / Key word(s): 9 Month figures/Quarterly / Interim Statement
Einhell increased revenue of 14%:
Einhell continue to grow
The Einhell Group was able to maintain the upward trend of the last few months and generated a record revenue of EUR 529.6 million (previous year: EUR 463.0 million) in the first nine month of the financial year. This corresponds to an increase of 14% compared to the prior-year. At the beginning of October, the Einhell Group increased its forecast, now forecasting revenue of EUR 670 million and a pre-tax margin of about 6.5%.
"This year's business development far exceeded our expectations. Einhell adapted quickly and flexibly the given framework conditions. The Corona crisis demanded a great challenge of our employees, but we mastered this challenge together as a team and with excellent performance." Andreas Kroiss, CEO of Einhell Germany AG.
The decisive factor for the positive development was the strong demand of DIY products for home and garden. Many customers have started to implement different projects for which they did not have time to do in the past. Premises carried out, postponed repairs implemented and outdoor areas embellished. Do-it-yourself stores but also online trades registered strong demand. Einhell thus recorded increased sales figures at the Power X-Change range. Until now, the Power X-Change platform consider 170 battery tools and garden equipment. The Power X-Change platform provide its user assistance where they wants wireless freedom.
"For a few years, we focus on our Power X-Change platform. Sharply rising demand and recently published test result of Stiftung Warenest, where we won the battery test, shows that this is the right way to go. The Einhell battery delights with its stability, handling and security and prevailed over well-known competitors. We are very proud of this result and will further develop the battery technology consequently." Andreas Kroiss, CEO of Einhell Germany AG
To sustainably strengthening our business development, we will focus at relevant key product groups and will do high investments at various marketing channels. In the next year, a big print campaign next to a TV campaign with two spots in spring and autumn are planned.
The Board of Directors assumes that the current forecast will happened. However, the forecast requires that there will be no closures of retail outlets because of the coronavirus pandemic in the Einhell Group's most relevant markets. The Board of Directors' assumptions and forecasts based on the information currently available. The future business development depends on numerous factors, especially on the developments in the crisis regions and the trends on the currency markets.
Einhell is a leading manufacturer of state-of-the-art tools for home and garden. Due to a constant expansion of our innovative Power X-Change platform, we are already pioneers in the field of battery-operated tools and gardening tools. We set standards in terms of endurance, performance and safety of our products. We inspire our customers with an attractive price-performance ratio, first-class service and wireless freedom in all do-it-yourself projects.
16.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Einhell Germany AG
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
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