The Hansgrohe Group, comprising Axor and Hansgrohe brands has closed 2019 with a sales high, marking its 10th consecutive year on record.

Headquartered in Shiltach, Germany, the brassware manufacturer has generated sales of

€1.088billion.

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Compared to the previous year, this organic growth represents a sales increase of around 1%.

Speaking about the results, chairman of the board of management Hans Jeurgen Kalmbach said: “For the 10th time in a row, Hansgrohe has achieved a new record in sales.

“With extensive investments in our future, we can look back on the second best economic result in the history of our company.

“The commitment and creative power of all our employees worldwide was fundamental to this success; they deserve our special thanks.

“Our culture of active co-operation creates the basis for securing our corporate success and will continue to support us in the current situation.”

He continued: “At Hansgrohe, we have together set the course to emerge stronger from the crisis.

“We are therefore deliberately publishing the positive figures for the 2019 financial year, so that the economic and financial solidity and reliability of Hansgrohe is substantiated.

The financial results reveal that EBITDA stands at €213.5million, which is a decline of 1% compared to the previous year, while the EBITDA margin remained unchanged at 20%.

At the same time, operating cash flow increased by 12% to €176.1million.

The Hansgrohe Group generated 77% of its sales outside its native Germany and sells into more than 140 countries worldwide.

In 2019, to make its business processes more efficient, the Hansgrohe Group reduced the number of Board of Management departments from five to four.

Speaking about COVID-19 and how the business intends to face its effects on the industry, Kalmbach commented: “In view of the Corona pandemic, reliable and serious forecasts are virtually impossible at the moment.

“Our focus is on the health and safety of our employees as well as on our customers and partners and their families around the world.

“Only thereafter comes our task, as a commercial enterprise, to maintain normal operations wherever possible.

“We are making every effort to overcome the existing challenges, together with our employees and market partners, and remain confident that we will succeed in this task in the mid-term.

“We can and will continue to invest in our future; for example, in the development of new products for the ISH trade fair in Frankfurt 2021.”