Hansgrohe Group Financial Results 2023

Germany: In 2023, the Hansgrohe Group faced challenges amidst a difficult year for the bathroom and sanitary industry, following record results in the preceding years. Despite this, the company maintained a turnover of €1.406 billion, representing a decline of 9.3 percent compared to the previous year. The operating result also fell by 18.3 percent to €201.7 million, and the EBITDA declined by 13 percent to €256.8 million. However, despite these declines, the company's sales/earnings ratio remained at 14.3 percent.

The Hansgrohe Group navigated economic uncertainties, particularly in the construction sector, and saw a decline in sales primarily in its core markets of Germany and China. Domestic sales decreased by 14.7 percent, while sales abroad declined by 7.5 percent. Nevertheless, the company continued to perform well in international markets such as Turkey, India, Mexico, Southeast Asia, and the Middle East, recording successes in the project business.

The company invested significantly in innovation, new products, sustainability, and IT security, totaling €81.6 million in 2023. Notable investments included a new production site in Serbia and the Hansgrohe InnovationParc in Shanghai, enhancing the company's local innovation management and product development. Despite challenges, Hansgrohe remains positioned for future growth, relying on its innovative strength, flexibility, and commitment to sustainability. CEO Hans Juergen Kalmbach emphasized adaptability and innovation as key strategies for navigating market challenges and ensuring profitable growth in the coming years.

Source: Hansgrohe