Miele sales hit an ‘all-time high’
Miele has reported a 5.9 per cent growth in sales for the year ending June 30 and said that turnover, staffing levels and investment had hit “all-time highs”.
The German appliance manufacturer achieved sales of €3.93 billion (£3.5bn), which amounted to a year-on-year increase of €218 million.
The executive board described its current growth as being “quite satisfactory”.
The group’s built-in appliances and vacuum cleaners made an above-average contribution to this growth, with dishwashers seeing an increase of 40 per cent in unit sales within the space of three years. Miele also sold more than 2.5m vacuum cleaners in the past year, which it said made it a European market leader in terms of turnover and unit sales.
In the UK, Miele said it was able to make “significant inroads” in local currency, however, this was more than offset by currency disparity in the run-up to Brexit.
Over the past year, the group has invested €225m in production and sales. This was a €41m, or 23 per cent, increase on the previous year.
Almost two-thirds of these investments were allocated to locations within Germany, where around 60 per cent was targeted towards the development of new appliances, as well as the expansion, conversion and modernisation of production facilities.
The company said that it had taken on more than 1,000 new employees in the past year.