GERMANY - Häfele Group, a global brand for furniture hardware, electronic locking systems and more recently LED lighting, reported a 1.6 percent increasse in turnover, reaching 1.397 billion euros in 2018, from 1.375 billion euros in 2017.

As with the previous year, 80 percent of turnover was generated outside of Germany. The management was satisfied with this result given the difficult international market environment.

The 37 foreign subsidiaries achieved a plus of 2.3 percent in 2018 and thus contributed positively to the overall result. The parent company in Germany and its five production companies generated only a small plus of 0.4 percent.

The group looks with confidence to the current fiscal year and expects further growth in the mid single-digit range. In 2019, 73 million euros will be invested into the markets, logistics, IT and production.

At Hannover, a second shipping center is currently under construction. It will serve customers in northern Germany and neighboring countries.

With the acquisition of the lighting specialist Nimbus Häfele expands its expertise in the growth market for LED light in furniture and rooms. These investments will help secure the future in a challenging market environment.

Häfele expects sales growth in the mid-single-digit range in the current year. The Group continues to see risks in the volatile foreign exchange and commodity markets.