Blum announces record turnover at year-end

 Monday, August 1, 2022

Austrian manufacturer’s demand in fittings business remained stable throughout, and fittings specialist Blum has recorded an 11.6% increase in turnover for the 2021/2022 financial year ended June 30, 2022, representing a growth in turnover of 266 million euros on the previous year.

The last financial year was another good year for kitchen and furniture manufacturers. “Consumers were again drawn to the homing and home improvement trend which remained strong during the last year,” says Philipp Blum, Managing Director of Julius Blum GmbH. “The demand for fittings has stabilised at a high level.”

The family-owned business from Vorarlberg, Austria has posted 2,643.65 million euros in Group turnover for the 2021/2022 financial year. “The last business year has again proved to be a challenge due to the ongoing COVID pandemic and war in Ukraine,” explains Philipp. “This makes the 11.2% increase in turnover all the more pleasing.

“This year’s increase in turnover is partly due to a growth in sales volume and partly due to the price adjustments we had to make because of the dramatic rise in costs.”

The family-owned business also added 644 employees to its headcount last year, taking staff numbers worldwide to more than 9,422. 6,981 of these employees are based in Austria.

Western Europe saw another big increase in turnover, particularly in Italy, Germany and the UK. However, the political situation had a subduing effect on markets in Eastern Europe. “We are shocked by Russia’s war of aggression on Ukraine which has inflicted untold suffering on many people since it was launched in February,” says Philipp Blum. “The war in the middle of Europe is shattering peace on the European continent and shaking the foundations of stability. Although our colleagues in our Ukrainian subsidiary are as well as can be expected, their health and well-being are a constant concern.

The company is nevertheless satisfied with order volumes and is guardedly optimistic about future developments. “We’re pleased that we’ve been able to greatly reduce lead times for many product groups by increasing production capacity and recruiting new members of staff over the past few months,” says Philipp.

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