After third quarter 2014 GROHE Group on sustained uptrend with global growth
GROHE Group continues to grow. With sales up by around six percent, the Group generated sales of SAR 5.258 billion in the first nine months of this year, compared with SAR 4.966 billion in the same period of 2013. On a constant exchange rate basis, sales growth was no less than eight percent.
With the GROHE Group’s normalised operating EBITDA at SAR 970 million, versus SAR 942 million a year earlier, the EBITDA margin stays at around 19 percent.
Sales in Europe, which makes up about half of total sales, grew overall by five percent. Sales in Asia with a sales share of about 33 percent grew by seven percent, sales in the Middle East/Africa by six percent and sales in America by nine percent.
Recent business developments in the GROHE Group include the closing of the acquisition together with LIXIL Corporation of a 51 percent stake in the newly launched GROHE DAWN Watertech Holdings Pty Ltd in November. This transaction enables GROHE to systematically step up its business activities in Africa.
On 4 November, LIXIL Corporation announced a new global business model with effect from April 2015. The most notable change under this will be the creation of the LIXIL Water Technology Group (LWTG), to be headed by CEO David J. Haines, Chairman & CEO of the GROHE Group, in addition to his existing duties and with the support of a proven management team.