AUSTRIA - Blum recorded 1,839.42 million euros in turnover in the business year ended 30 June 2018, an increase of 2.8% in comparison to the previous year.

The global leader in furniture hardware achieved 48% of its turnover in the EU area and 15% in the USA.

Most markets in Western Europe achieved an increase in turnover in the 2017/2018 financial year. The company benefited from continued recovery in South European markets and recorded ongoing positive developments in Eastern Europe. The upswing of the Russian market was also positive.

The strength of the euro had a negative impact on sales in America, the Pacific region and in Asia over the last 12 months. This led to a decrease in turnover in North and South America, although the development was positive in the national currency. In Asia, above all in India, China and South East Asia, growth continued despite negative currency effects.

During the 2017/2018 financial year first production hall of the new Stamping Centre (Plant 8) in Dornbirn was completed and employees started moving into the new premises before the start of the holiday shutdown. The high bay warehouse with 11,600 places will go into operation at the same time and the second production hall should be completed by April 2019. It is also expected that employees will move into the new office building at Plant 2 in Hoechst from September to December 2018.

A substantial amount was also invested in Blum’s market organizations to further improve the company’s offering worldwide. For example, a new high bay warehouse was put into operation in Poland, a new showroom opened in Slovakia and the extension to the office building and warehouse in Portugal should be completed by September 2018. Investments of the Blum Group totaled 216 million euros in the 2017/2018 business year.

“We will approach the new business year with restrained optimism. There are many question marks and there is a great deal of uncertainty about future developments. On the one hand, the Brexit process in Europe has still not been clarified and it is uncertain what direction the EU should take. On the other hand, we are deeply concerned about growing national interests, e.g. the mutual imposition of tariffs and an escalation of economic sanctions,” says Gerhard E. Blum, Director and company partner.