AUSTRIA – Blum, the fittings specialist from Hoechst, Austria has recorded an 11.6% increase in turnover for the 2021/2022 financial year ended 30 June 2022.
This is a growth in turnover of 266 million euros on the previous year. The global demand for kitchens and furniture remains high despite the tense economic situation. Blum has more than 9,422 employees all over the world who strive to be a trusted partner to customers around the globe.
The last financial year was another good year for kitchen and furniture manufacturers. “Consumers were again drawn to the homing and home improvement trend which remained strong during the last year. The demand for fittings has stabilised at a high level,” says Philipp Blum, Managing Director of Julius Blum GmbH, describing the developments of the industry. The family-owned business from Vorarlberg, Austria has posted 2,643.65 million euros in Group turnover for the 2021/2022 financial year, increasing its sales by 266 million euros on the past year. “The last business year has again proved to be a challenge due to the ongoing COVID pandemic and war in Ukraine. This makes the 11.2% increase in turnover all the more pleasing,” comments Philipp Blum. Against the backdrop of these extraordinary global circumstances, it is necessary to take a differentiated view of the results. The price of raw materials has increased multi-fold, as has that of transportation. “This year’s increase in turnover is partly due to a growth in sales volume and partly due to the price adjustments we had to make because of the dramatic rise in costs,” explains the Managing Director. The family-owned business added 644 employees to its headcount last year, taking staff numbers worldwide to more than 9,422. 6,981 of these employees are based in Austria.
In the past financial year, investments worldwide totalled 339 million euros. For Martin Blum,Managing Director, one of the most important investments is in the training of skilled professionals. “Our programme of vocational training and ongoing education is designed to stem the shortage of skilled workers. We train 400 apprentices worldwide, 363 of whom in Vorarlberg.” Motivated, committed and qualified employees are one of Blum’s key success factors. “We’ve pulled together and come through despite another challenging year which put enormous pressure on our organisation. That wouldn’t have been possible without our extraordinary team,” says Martin Blum with conviction.
“People are having to think twice about how they spend their money. The fragility of international supply chains, complexity of transport logistics and volatility of raw material prices will remain a challenge,” says Philipp Blum. Now, more than ever before, the company as a whole needs resilience and flexibility to be able to respond to crises, learn from them and move forward. This will be key to the company’s success in volatile times. “Only in this way will we remain a reliable partner – to both our customers and employees,” he concludes.
