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Business

Published on February 11th, 2021 | by The GC Team

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Turnover increases 6.5% during Miele’s “rollercoaster ride” of a year

Business for the Miele Group was “reminiscent of the proverbial rollercoaster ride” in 2020 the German appliance manufacturer said today as it reported a 6.5% year-on-year increase in sales for the fiscal year January 1 – December 31.

The company achieved sales of € 4.5bn during the year as it got off to a promising start, before experiencing a “big dip” between March and May, followed by strong demand during the summer and an “outstanding” second half of the year.

Miele said it was massively hit by the turmoil caused by the pandemic during the past year, but the Executive Board of the business said in a statement: “Thanks to our strong brand, a high-quality product range and the persistent expansion of digital marketing activities, Miele has nevertheless succeeded in surpassing the previous year’s turnover by a considerable margin.

“We will continue to stay our course and, indeed, strengthen it.”

Strong growth was reported above all in Germany, central Europe and in China. Amongst individual categories, vacuum cleaners and refrigeration products experienced the greatest growth rates.

Sales in Germany reached € 1.33 bn, representing an increase of 8.8% and accounting for 29.5% of overall turnover. Strong growth was also reported in the Benelux countries, France, Austria and Switzerland, and also by “aspiring” countries in eastern Europe and, particularly, by China.

In other important markets, the previous year’s levels of business were roughly held; the USA and Great Britain, for example, despite the spread of Covid-19. As far as distribution channels were concerned, Miele said online sales saw “the most positive development”.

As of December 31, 2020, Miele employed a staff of 20,944 worldwide. The company said this equates to an increase of 466 year-on-year.

Pictured above: Executive Board of the Miele Group (left to right): Dr. Stefan Breit (Technology), Dr. Markus Miele (Executive Director and Co-Proprietor), Olaf Bartsch (Finances and Administration), Dr. Reinhard Zinkann (Executive Director and Co-Proprietor), Dr. Axel Kniehl (Marketing and Sales)

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