Blum witnesses an increased revenue of 2016/17

 Wednesday, October 4, 2017

With a revenue increase of 8 % to 1,788.08 million euro, fittings manufacturer Blum reports a successful conclusion to the financial year of 2016/2017, which ended on 30 June. Innovative products, international market presence, consistent investments in R&D and highly qualified staff mean that the family enterprise headquartered in Höchst (Austria) can celebrate a revenue increase that is worth its name. 48% of the company turnover was generated within the EU, 16% in the US. Blum supplies 120 markets all over the world, making it one of Austria’s largest export companies. In June 2017, the company won the prestigious Austrian export prize, the “Global Player Award”, in recognition of its outstanding performance in exports.

Employees as the basis of success

“The high level of motivation of our worldwide team and the excellent cooperation of all de-partments and organisations within our group are an essential building block of our success”, says CEO Gerhard E. Blum, summing up the fundamental importance that Blum attaches to its employees. During the past financial year, 7,140 persons on average worked for the fitting manufacturer, an increase of 291 persons compared to the previous year.

Growth rates in all market regions

During the past financial year, the fittings manufacturer based in Vorarlberg has seen growth rates across all market regions. For instance, most markets in Western Europe reported an increase in sales. The only exception was Great Britain, where the falling pound caused a loss of revenue. Eastern Europe, however, continued to thrive, with growth figures also reported for Russia and Turkey. The fittings specialist also achieved excellent results for North American and the Asia-Pacific region. Throughout the financial year of 2016/2017, material prices re-mained a challenge. Steel prices soared towards late 2016, followed by zinc, packaging materi-als and other listed commodities.

New products and services

According to data from the Austrian Patent Office, Vorarlberg is the most innovative Austrian province, with 62 registered inventions per 100,000 inhabitants. In this year’s ranking published by the Patent Office, Blum came third. At the interzum, the leading trade fair for the furniture supply industry that was held in Cologne in May, Blum presented numerous new products and services, aimed at safeguarding its position as a reliable system partner in the long-term. Thanks to its innovative stance, the company offers a greater margin for design and differentia-tion throughout its product groups, for instance with new colours and designs for box systems, onyx black as an additional colour for hinges, a fitting solution for thin doors, and a new gen-eration of lifts in a linear design and particularly small installation size. The Blum offer is com-pleted by a range of services for manufacturers, from planning to ordering and manufacturing, all the way to assembly and fitting.