news BSH profits plummet by 25%
APPLIANCE GIANT BSH UK – which owns brands such as Neff, Siemens and Bosch – saw a 25% decline in its profits across 2023, blaming “inflationary pressures” and “weak consumer confidence”. As disclosed in its latest annual report, which covers the company’s financial status up to December 31, 2023, pre-tax profits plummeted by around 24% across the year, with BSH closing 2023 with a figure of £24m. This is a significant decrease from the £30.2m pre-tax profit seen by the appliance company in 2022. BSH closed the year with profit after tax of £18.5m, which is another decline of around 25%, and is down from last year’s profits of £24.6m. Additionally, turnover for the company had decreased roughly 2%, from £810m in 2022 to £791.2m in 2023. This was also reflected in the volume of products BSH’s sold across the
period. 2022 saw the appliance brand sell a total of 2.2m major domestic appliances, which had dropped by around 9% in 2023, to 2.0M. Assessing its financial results for the year, BSH said: “Inflationary pressures, due to rising material and logistics costs, continued to put
Wren opens milestone 15th showroom in the US
significant pressure on household incomes. Weak consumer confidence led to some consumers to defer big ticket items. “In
addition, interest
rates, which peaked at the beginning of the year, slowed
down mortgage
applications and housing completions These
factors
significantly impacted the market for major domestic appliances.” Looking ahead to the rest of the year, BSH said
it expected market recovery would be slow due to these overall factors. In addition, the company said it believes the market may still shrink further over the next 12 to 18 months.
Rotpunkt invests €50m to increase efficiency at German HQ
GERMAN KITCHEN manufacturer Rotpunkt has invested more than €50m into constructing new facilities at its headquarters in Bünde, Germany, and says customers will benefit from the improved efficiency and product offering. Set to be completed by the end of this summer, Rotpunkt says the investment has gone
into constructing a brand new 10,000 sq ft warehousing and logistics building at the site of the brand’s headquarters. Once built, it will create space to house machines which are currently being held in an existing facility onsite. According to the company, the investment will also help Rotpunkt increase its product
variety and offer more options to customers. The highly-automated building will increase the company’s production capacity, as it says the new integrated system will be able to carry out tasks independently without supervision once programmed. In line with its sustainability targets, the building will also provide energy efficient
WREN KITCHENS has continued its expansion into the American market, having announced the opening of its 15th showroom in the USA. Located in Union, New Jersey, the latest showroom is the
retailer’s first global opening in 2025, and also marks its 129th overall showroom worldwide. Marking its latest East Coast retail location, the new Union
store is said to feature a total of 62 full-sized displays, which consist of kitchens, mudrooms and laundry rooms. In addition, the showroom also has 12 virtual reality design desks, and a room configurator bay. “We are excited to open our latest showroom, right here in
Union,” commented showroom manager, Conor Maggs. “Our team is ready to become a real part of the Union community and is eager to help customers bring their vision to life with expert guidance and practical solutions. Whether you’re just starting to dream about your kitchen remodel or have your plans in place, we’re here to support you every step of the way.”
4 kbbreview March 2025
production processes that are said to be climate-friendly. Matt Phillips, head of UK operations at Rotpunkt commented: “We are very proud to be
investing in the future by constructing a new warehouse to further automate production. This will allow us to provide unlimited brand variety and offer exclusive design opportunities for our customers.”
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