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Vorwerk Group Balance-Sheet Press Conference
Family enterprise Vorwerk continues on a growth course ? Vorwerk Teppichwerke reports a 6-per-cent gain in turnover
Hamlin/Wuppertal, 6 June 2007 - Vorwerk, a family enterprise, has exhibited good development once again during 2006. The key figures for 2006 presented yesterday in Wuppertal have improved across the board.
Vorwerk Teppichwerke in Hamlin, a member company of the international Vorwerk Group with its focus on the direct sales of household appliances and the textile and service sectors, boosted its turnover by 6% in 2006 to EUR 74 million (incl. VAT), thus strengthening its market position even further. Turnover, the quantity sold and the market share have all increased for the third year in a row, which mean that today the company has returned to a stable earnings position.
In light of a market in Germany that continues to remain in a slump, this is a remarkable success. Alongside consistently enforced cost control, the convincing factor on the market was above all the product and innovation policy chosen. Current new developments in the collections along with the role programme for the private sector at home presented in 2006 are being received very well. Vorwerk has proven to be successful in the contract carpet business with "Projection", its new line produced in co-operation with Ulf Moritz, an internationally renowned textile designer. The sales successes display a high degree of acceptance on the market.
In addition, Vorwerk carpets were the only ones in 2006 to receive the seal of recommendation from the DAAB, the German Allergy and Asthma Association, due to the good bonding of finest dust particles confirmed by the GUI, the German Society for the Environment and Interior Analysis, and their certification as "suitable for those suffering from allergies" issued by the TÜV, the German Technical Certification Association. Equipped with RFID sensors, Vorwerk carpets received the "Future Award 2006" initiated by Zukunftsinstitut Matthias Horx, an institute for innovations looking towards the future.
Vorwerk Teppichwerke is continuing to bank consistently on innovations in technology and design for the future. A further reduction of turnaround cycles and the optimisation of inventories in stock while simultaneously maintaining an incomparably high delivery capability are helping to lower costs even further. The recovering economic activity in Germany, the key market, offers additional opportunities for growth. More intensive efforts are intended to be made to develop the nations of the CIS as new markets, first and foremost Russia.
Information about the Vorwerk Group
Business volume, the financial result, the number of staff, the endowment of shareholders' equity and the liquidity of the Vorwerk Group have risen for the fifth year in a row in comparison to the respective previous year. With a business volume of EUR 2.343 billion, Vorwerk has achieved an organic growth of 7 per cent. Achim Schwanitz, one of the 3 personally liable partners of Vorwerk, is very satisfied with the outcome for the fiscal year, too, figures traditionally not published. The equity ratio lies at 46 per cent. Liquid resources have risen to EUR 723 million.
Vorwerk employs a staff of 23,000 worldwide, 28,000 specialised consultants for household appliances and 482,000 consultants for cosmetics, in other words a total of 533,000 people on 4 continents. The Group operates in 24 countries via its own companies. In 5 years the Vorwerk Group has grown by 50 per cent as a result of its strategic growth orientation.
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