GERMANY – The Häfele Group, one of the main global furniture hardware suppliers,  recorded sales of EUR 1.74 billion for the 2024 fiscal year, marking a 1.5% increase, or 2.7% when adjusted for currency effects.

Foreign sales accounted for 82% of total revenue. Despite a challenging market environment, Häfele maintained steady growth, benefiting from its strong international partnerships and well-coordinated sales regions.

The year 2024 was shaped by geopolitical tensions, high but falling interest rates, and political uncertainties due to elections in several countries. As a result, consumers globally scaled back major investments, particularly in real estate and interior design. However, Häfele’s diverse regional performance helped it navigate these challenges.

Strong growth was seen in the Middle East, Africa, and Latin America, while regions like Eastern Europe, Central Asia, the USA, and Western Europe showed modest positive growth. In contrast, Asian markets, which had been strong in 2023, experienced slight sales declines.

Häfele’s home market of Germany saw the craft market segment as the key sales driver in a tough environment. Looking forward to 2025, Häfele acknowledged that limited forecasts can be made due to the ongoing uncertainty. While some markets are expected to remain stable and a slight recovery is anticipated in the USA, CEO Gregor Riekena noted that “there is little tailwind” from other regions.

Häfele’s commitment to partnerships and innovative solutions continues to guide its strategy. Riekena emphasized, “In a world in transition, it is more important than ever to use the right strategy to identify cross-border opportunities, adapt to new circumstances, and create growth moments with our partners.” The company also reached a milestone at the interzum fair, advancing its 2030 strategy under Riekena’s leadership.

Häfele’s long-term strategy is underpinned by a cross-generational Board of Directors, with continuity and future-focused leadership led by Sibylle Thierer and Gregor Riekena, ensuring a strong foundation for future growth.