Positive tendency outside Germany

Summary of 2009: Häfele Group confident despite revenue decrease

(2/18/2010 12:00:00 AM) The international Häfele Group for hardware technology and electronic locking systems with headquarters in Nagold posted revenue of €739 million in 2009, representing a decrease of 9% compared with the prior year. Adjusted for currency effects, the decrease amounts to 7%. Many foreign markets had already recovered in the fourth quarter of 2009, which is why the Group anticipates moderate growth again in 2010. Häfele generated 72% of its revenue outside Germany in 2009.

The domestic business was relatively stable with a decrease of 5%. In the United States and some countries of Western Europe, the global economic crisis led to more substantial reductions. The Häfele branches in Asia und Australia developed positively, some of them recording strong increases in revenue. Häfele was internationally successful with electronic locking systems in the areas of construction and furniture. Good revenues were generated with the products of the Sphinx Electronic subsidiary. At the presentation of the year-end financial statements, Managing Director Sibylle Thierer summarized. “We are satisfied that we succeeded in keeping the effects of the economic crisis at a reasonable level in terms of revenue and earnings.”
Despite various cost-reducing measures, the number of employees at the Häfele Group increased by 300 to 4,700. The biggest growth in personnel was recorded by the branches in Asia.

The Häfele Group invested approximately €48 million in logistics, sales and production in 2009, half of which was invested in the foreign branches. The parent company invested €14 million in the expansion of the central warehouse and logistics centre in Nagold. In the area of production, Häfele took over business units and a production company of Huwil Werke GmbH, Ruppichteroth, partially in cooperation with the company Kesseböhmer, and thus expanded its manufacturing competence. The Häfele Group includes the production plants Häfele Berlin, Anton Schneider in Kenzingen and Jettingen, and Sphinx Electronic in Kenzingen.

Häfele sees an upturn in its foreign business and plans to achieve revenue growth of a high single-digit percentage.