2019 Financial Report:
Hfele increases revenue by 7.6 percent | growth particularly evident abroad
Focus on lighting and logistics expertise
Active in 150 countries throughout the world, the international Hfele Group for hardware technology, electronic access control systems and LED lighting, saw its revenue grow by 7.6% to 1.5 billion Euro in the previous year. In view of the tense nature of the economic situation, Hfele’s company management regards this result as a great success.
The Hfele Group supplies the world’s leading furniture manufacturers, architects and planners as well as its joiner/cabinet maker partners and dealers with its products, appropriate product ranges and services. The parent company in Germany and its five production companies recorded growth of 3.3%. The sales companies grew by 8.8% in 2019. Asia and Eastern Europe posted particularly strong rates of growth. The formation of Hfele Adriatic sees the Group continue to push forward with its programme of internationalisation. The Hfele Group now has some 38 one hundred percent-owned subsidiaries worldwide. It generates 80% of its revenues outside of Germany.
The number of employees worldwide increased by 300 to 8,100 last year. 1,650 of this figure are st
aff employed in Germany (50 more than in 2018). This increase can be primarily attributed to the acquisition made in February 2019 of the Stuttgart-based LED lighting specialist, Nimbus. With Nimbus, Hfele has expanded its expertise in this area by adding room lighting to the product segment formerly known as “LED light in furniture”. With this move, Hfele has also radically developed beyond its traditional world of classic hardware fittings for doors and interiors. The hardware technology specialist has already become something of an industry pioneer when it comes to the growth market for Smart Home ideas and products.
Enhancement of logistics expertise In Lehrte near Hanover, the company has commenced operating a second distribution centre for supplying customers located in the north of Germany and neighbouring countries. Together with the primary logistical hub in Nagold, the logistics of Hfele Germany now has two mainstays – bringing greater proximity to customers, shorter transport times and therefore even better service.
