NEWS | Round-up


Big brands smash sales records in lockdown boom


results: “The latest figures confirm that we’re on the right track and give us the confidence that we can achieve our goal of €1 billion by 2025.” Much of the growth was to do with operations in China, said Duravit, where turnover exceeded RMB 1bn (€139m) for the first time.


Meanwhile, at Masco, whose many brands include Axor, Hansgrohe and Bristan, 2021 sales were up by 17% to $8.38bn (£6.37bn) with operating profits up 8% to $1.41bn. Said president and chief executive Mark Allman: “We ended 2021 with another quarter of strong top-line growth, capping off an exceptional year.”


AS COMPANIES are filing their annual results, a number of big brands in the KBB world have reported soaring sales, in some cases smashing all previous records.


The home-improvement boom that followed the Covid lockdowns saw demand from consumers increase with, in many cases, suppliers and retailers struggling to keep pace with it. But it didn’t stop many brands racking up some very healthy sales and profits for the 2021 financial year.


German taps and shower specialist Hansgrohe reported its “most successful financial year in the company’s entire 120-year history”.


At a financial press conference at its Schiltach headquarters, the company reported sales up by 27% to €1.365 billion (£1.14bn) from €1.07bn last


year, with operating profit also up 27% from €190.7 million to €249.7m.


Commenting on the milestone results, chairman Hans Juergen Kalmbach said: “Extraordinarily high demand and developments in the raw material markets proved to be quite challenging. Everyone delivered a top performance, despite the ongoing pandemic situation, allowing us to supply and serve our customers with the Hansgrohe service they’ve come to expect.” Duravit also reported record sales, with revenues topping €600m for the first time ever. In the 2021 financial year, the bathroom products supplier saw sales soar 28% to €604m from €469m in 2020 with operating profits climbing 41% to €73.7m. Duravit chief executive Stephan Tahy said of the


And despite all of the ongoing supply challenges, appliance brands have also been doing well. Electrolux reported record sales for 2021, with turnover up 14.3% to SKr126bn (£10.8bn) and operating income up 18% to SKr6.8bn. President and CEO Jonas Samuelson said: “Market demand was strong in 2021, as consumers continue to invest in their homes. We delivered record sales and earnings and met or exceeded all our financial targets through an attractive product and brand offering, and we successfully offset significant cost inflation through price increases.” On supply chain issues, he added: “The global shortage of electronic components and logistic constraints impacted our ability to fully meet the high demand for our products.” And kbbreview has already reported on Miele, who saw the best sales year in its 123-year history, with sales up 7.5% to €4.84bn. On the retail side, Kingfisher, which owns B&Q and Screwfix, CEO Thierry Garnier spoke of an “outstanding year”, with group sales up 6.8% to £13.18bn and profits up by almost a quarter (24.7%) to £1.44bn.


Howdens also reported a record year in 2021 with group revenue up 35.3% to £2.09bn and profits more than doubling (up 110.6%) from £185.3m to £390.3m.


Howdens chief executive Andrew


Livingston commented: “2021 was a very successful year for Howdens as we both delivered record financial results and progressed our strategic plans for the business.


“Our performance demonstrates the strength of our trade-only, in-stock local business model and our ability to meet heightened demand for our products.”


Acrysil UK acquires worksurfaces specialist Sylmar Technology


KITCHEN AND bathroom pro- ducts manufacturer Acrysil UK Ltd


has acquired shareholding of a the entire worksurfaces


brand Sylmar Technology for an undisclosed sum. Acrysil UK is


wholly owned


subsidiary of Acrysil Ltd, which is listed on the BSE (Indian Stock Exchange) and is active in over 60 countries, with a significant presence in the UK, USA, Germany, France, China and India. The company said that it bought of


Sylmar as part its key strategic


objective to acquire market-leading brands in the kitchen sector. It added that Sylmar’s worksurfaces brands – Minerva, Maia and Metis, would “strategically complement Acrysil’s existing product offering of


4 composite granite, steel sinks and


domestic appliances”. Sylmar’s majority shareholder and managing director Peter Holt has left the business and current deputy MD Julian Annison has been promoted to managing director.


Commenting on the deal, Sylmar


MD Julian Annison said: “This is great news for everyone involved with Sylmar. We are very excited for the future. The business has consistently grown year on year. “We have an enviable list of partners and the best solid surface worktop offer in the sector. Becoming part of the Acrysil Group, while maintaining our own core values, will ensure the hard work of the previous ownership will continue further.”


New MD Annison will report directly


to Acrysil UK Ltd chief executive Marcus Smyth, but Acrysil said that there is likely to be little change to Sylmar’s day-to-day operations. Outgoing Sylmar MD Peter Holt added: “Having led and had sole control of Sylmar Technology since 2014, the business could not be in better hands through Julian Annison and under the steerage and direction of Acrysil UK Ltd, who we have had an association with for many years.” He added: “The synergies and strategies of both companies are perfectly aligned. The acquisition is great news for the company, staff and more importantly our partners. The industry,


I am sure, will watch with interest as the company develops and


grows under the new ownership.” Commenting on how the deal would strengthen Acrysil’s position in the kitchen and bathroom sectors, Acrysil UK Ltd chief executive Marcus Smyth said: “Fantastic opportunities like this do not come around every day. Adding Sylmar to the Acrysil Group portfolio will strengthen our position in both the kitchen and bathroom sectors and add further opportunities both here in the UK and globally.


“The synergies and goals of both companies


were perfectly aligned


even before the acquisition (some would say seamlessly). Peter has left the business in safe, secure hands with the incumbent team he leaves behind and with the security and opportunities we can add by taking the company into the Acrysil Group.” Back in 2014, Acrysil successfully acquired Homestyle Products, which imports and markets kitchen sinks for the UK market and deals in faucets and allied products.


· May 2022


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