Candy Group announces positive financial statement

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Italy-based Candy Group has released its financial statements for the year closing December 31 2017, with consolidated revenues of EUR 1.148 billion.

In addition to consolidated revenues, growing 14% (+10% at constant exchange rates and scope) as compared to EUR 1.006 billion in 2016, with an EBIT of 3.8%, equal to over EUR 44 million, Candy has reported a further growth in the market share held in Europe, where it obtained a 0.4% year-on-year increase in the market share of large household appliances.

The Group – that operates Candy, Hoover and Rosières brands – is active in three main sectors: washing, built-in appliances, and small domestic appliances. The Group’s turnover is largely achieved within the European Union, with the U.K. (21%), France (18%), Italy (17%), the Iberian Peninsula (6.5%) and Germany (4.5%) playing a leading role together with Russia, which is currently growing strongly.

Candy, a privately owned company controlled by the Fumagalli family, noted that its turnover target is to reach EUR 2 billion within the next four years.

In recent years Candy Group has become a leader in connected household appliances and in the sale of smart appliances where, in particular in the washing machines segment, it holds 61% of the market share in Europe, the statement noted.

In order to support this strategy, Candy Group has recently inaugurated a new production site in Turkey for the manufacturing of intelligent dishwashers with a production capacity of 800,000 units per year, with a total investment of EUR 15 million.

Candy Group chief executive Beppe Fumagalli commented: “The positive results of 2017 confirm the growth of Candy Group, which for the second year in a row has been the group that grows the most in Europe in the market of large household appliances. Thanks to an increasingly diversified and wider offer, particularly on the international brands Candy and Hoover, both in terms of product range and technological solutions, we are at the forefront of innovation on the European market.

“But what makes us unique is our DNA, able to combine Italian spirit, creativity, tradition and modernity in a synthesis that allows us to propose on the market innovative solutions and ideas capable to solve everyday problems. We have been studying consumers, their tastes, needs and expectations for over 70 years now, in order to offer the best experiences both in terms of product and service.”

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