Facts & Figures 2010 - Hansgrohe
Facts & Figures 2010 - Hansgrohe
Facts & Figures 2010 - Hansgrohe
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<strong>Facts</strong> & <strong>Figures</strong><br />
2011<br />
www.hansgrohe.com<br />
A record-breaking year
PERFORMANCE<br />
Sales<br />
€ 764 million<br />
EBIT<br />
€ 129 million<br />
Profit for the year<br />
€ 90 million<br />
SUSTAINABLE GROWTH<br />
Mature markets<br />
+ 7%<br />
BRIC<br />
+ 35%<br />
KEY FIGURES AND RATIOS<br />
Productivity<br />
+ 1%<br />
Working Capital Days<br />
60<br />
Sales revenues<br />
per employee*<br />
+ 9%<br />
Contribution to total<br />
sales generated<br />
by new products<br />
27%<br />
Overview<br />
<strong>Hansgrohe</strong> Group –<br />
at a glance<br />
FIVE STRATEGIC<br />
APPROACHES<br />
1.<br />
Innovation, design and<br />
sustainability<br />
Extending our lead as<br />
innovators in technology,<br />
design and sustainability<br />
2.<br />
Global Speed<br />
Expanding the international<br />
market presence and further<br />
development of the emerging<br />
markets business model<br />
3.<br />
Quality and productivity<br />
Increasing product quality<br />
and establishing a<br />
‘Global Production Balance’<br />
4.<br />
Lean Business Processes<br />
Streamlining our<br />
business processes<br />
5.<br />
Organization<br />
Further development of<br />
the corporate organization,<br />
international human<br />
resource development and<br />
talent management<br />
*in terms of the number of employees as at<br />
December 31, 2011.
Foreword<br />
3<br />
Looking back<br />
4<br />
Strategy<br />
6<br />
Investments<br />
8<br />
Focus<br />
LZO runs SAP<br />
10<br />
Sustainability<br />
12<br />
Brands and<br />
Innovations<br />
14<br />
Focus<br />
Axor goes NYC<br />
16<br />
2011 Product highlights<br />
18<br />
Focus<br />
No mercy for<br />
product pirates<br />
24<br />
Contents<br />
<strong>Facts</strong> & <strong>Figures</strong><br />
2 011<br />
Markets<br />
26<br />
Focus<br />
South Africa – more than<br />
just a growth market<br />
28<br />
Landmarks in 2011<br />
30<br />
Employees<br />
38<br />
Focus<br />
Water science for<br />
junior researchers<br />
42<br />
Supervisory Board and<br />
Executive Board<br />
44<br />
Outlook<br />
45<br />
Group figures,<br />
subsidiaries and<br />
publishing information<br />
46
LZO runs SAP.<br />
No mercy for product pirates.<br />
Water science for junior<br />
researchers.<br />
Overview<br />
South Africa – more than just<br />
a growth market.<br />
Axor goes NYC.
After the economy had witnessed a sound recovery from<br />
the consequences of the financial markets crisis in many parts<br />
of the world in the year <strong>2010</strong> and had returned to growth<br />
almost everywhere, the level of economic activity lost some of<br />
its impetus in the course of last year. Following a period of<br />
dynamic growth in the first six months of the period under<br />
review, the economy – especially in the euro zone – slowed<br />
once again as it suffered the effects of the rampant<br />
sovereign debt crisis in the countries of southern<br />
Europe. Germany’s economy, which until then had<br />
driven growth within the European Union (EU), lost<br />
much of its momentum in the second half of 2011.<br />
There are indications of an economic downturn<br />
outside Europe as well, despite the fact that<br />
the triple disaster of earthquake, tsunami and the<br />
nuclear reactor accident in Japan fortunately did<br />
not have the far-reaching consequences for the world economy<br />
that were anticipated at the time. Even China and India, the<br />
main growth drivers of the world economy, lost some momentum<br />
during the 4 th quarter of 2011 after having run at full speed in<br />
recent years. In contrast, after years of crisis some positive<br />
signals are now emerging from the United States. There are<br />
indeed indications that the world’s largest economy reached the<br />
bottom of the cycle last year and will be picking up speed<br />
again in the years ahead. This represents confirmation that the<br />
performance of the global economy has become subject to fluctuations<br />
to a greater degree than before, and that upswings and<br />
downturns can alternate more rapidly than they did in the past.<br />
Operating in this volatile economic environment, the<br />
<strong>Hansgrohe</strong> Group managed to stay on course for growth in<br />
2011. Sales in almost all regions exceeded the previous year’s<br />
level. As a result, our Company’s total net sales set a new<br />
record. In the home market of Germany and in the emerging<br />
markets, the growth generated through the collaboration with<br />
Editorial<br />
2011 – the year we<br />
set new records<br />
Siegfried Gänßlen<br />
3<br />
our partners and customers was particularly impressive. However,<br />
even in markets such as the USA and Great Britain, which<br />
suffered the effects of the financial market and property crisis<br />
more than most, the turnaround achieved last year con tinued<br />
with a sustained positive trend. In spite of the strong impact of<br />
substantial rises in the prices of commodities and materials, we<br />
managed to keep earnings at the record level achieved the<br />
previous year. This is all the more gratifying as the<br />
level of investment – over € 40 million – in the<br />
111 th year of our corporate history was the highest<br />
since the inception of <strong>Hansgrohe</strong> in 1901. In doing<br />
so, together with our global workforce of almost<br />
3,300 – which is also a new all-time high for us –<br />
we have laid the foundations for further growth in<br />
the international competition.<br />
The numerous new products and innovations<br />
that were presented to customers visiting the ISH from across<br />
the globe contributed to our successful business performance in<br />
2011. Many experts in the world of design were also impressed<br />
with our new products, however, and in 2011 their recognition<br />
for Axor and <strong>Hansgrohe</strong> mixers and showers came in the form<br />
of no fewer than 34 design awards – another new record, and<br />
yet another reason why fiscal 2011 was a record-breaking year<br />
for <strong>Hansgrohe</strong>.<br />
Schiltach, April 2012<br />
Siegfried Gänßlen<br />
Chairman of the Management Board of <strong>Hansgrohe</strong> SE
Following the marked recovery in the global economy<br />
after the end of 2009, the economic outlook deteriorated more<br />
rapidly, during the period under review, than had been anticipated.<br />
While economic development around the globe was<br />
still exhibiting solid growth in the first half of 2011, at the start<br />
of the 3 rd quarter indications of a slowdown in growth were<br />
increasing in number – in the euro zone, where the economy is<br />
increasingly suffering the consequences of sovereign debt and<br />
the measures introduced to reduce it, but also in the boom markets<br />
of China and Brazil, where governments are making an<br />
effort to stop their economies from overheating and to prevent<br />
high rates of inflation. The effects were felt especially in the<br />
export and construction sectors, which both lost momentum in<br />
the second half of the year. While this was also reflected in the<br />
order receipts of the <strong>Hansgrohe</strong> Group (www.hansgrohe.com)<br />
during the 4 th quarter, the Company was still able to close fiscal<br />
2011 with record figures for sales and revenue figures. Factors<br />
benefiting this long-established company, which will be celebrating<br />
it s 111 th anniversary in 2012, were its innovative strengths in<br />
the fields of technology, design and sustainability, and the high<br />
standard of quality of its products and services.<br />
With an increase in sales of 10.3 percent – 10.2 percent<br />
after currency adjustments – total net sales rose by € 71 million,<br />
to € 764 million (<strong>2010</strong>: € 693 million) during the last financial<br />
800<br />
700<br />
600<br />
500<br />
400<br />
300<br />
200<br />
100<br />
0<br />
660<br />
520<br />
79%<br />
140<br />
21%<br />
<strong>Hansgrohe</strong> Group<br />
Consolidated Net Sales<br />
2007 2008 2009 <strong>2010</strong> 2011<br />
international national<br />
Looking back<br />
Leading through<br />
innovation<br />
668<br />
531<br />
80%<br />
137<br />
20%<br />
610<br />
470<br />
77%<br />
140<br />
23%<br />
4<br />
year. The fact that growth was achieved in both our domestic<br />
and foreign business and in all the distribution channels was<br />
particularly gratifying. Growth was particularly vigorous in the<br />
emerging markets of eastern Europe, the Far East, Latin America<br />
and southern Africa, with double-digit growth rates being record ed<br />
in all these regions. For the first time in our corporate history,<br />
China was the biggest foreign market in terms of sales.<br />
Overall, the volume of sales in international operations<br />
rose by 9.1 percent, to € 588 million (<strong>2010</strong>: € 539 million). The<br />
fact that the contribution to total net sales declined slightly to<br />
77 percent (<strong>2010</strong>: 78 percent) was due to a strong boost in<br />
domestic operations, where sales rose by a further € 22 million,<br />
to a total of €176 million (<strong>2010</strong>: €154 million) – an increase of<br />
14.2 percent.<br />
Thanks to the greater sales volume, the <strong>Hansgrohe</strong> Group<br />
managed to improve its earnings before interest, taxes and<br />
depreciation in spite of substantial increases in the cost of raw<br />
materials and energy. With €157 million (<strong>2010</strong>: €154 million),<br />
EBITDA was up by 2.2 percent year-on-year, which represents a<br />
new all-time high.<br />
693<br />
539<br />
78%<br />
154<br />
22%<br />
764<br />
588<br />
77%<br />
176<br />
23%
Sales<br />
Domestic: + 14%<br />
Foreign: + 9%<br />
BRIC countries: + 35%<br />
Total: + 10%<br />
Innovative in terms of technology and design: The <strong>Hansgrohe</strong> PuraVida range of mixers and showerheads.<br />
5
Balancing Globalization &<br />
Localization<br />
During the 2011 financial year, <strong>Hansgrohe</strong> SE set a strategic<br />
course aimed at positioning the Company for the further<br />
globalization of its business and to prepare it for the challenges<br />
associated with this policy at an early stage. The Company<br />
simultaneously implemented measures to further build on its<br />
capacities and focus more closely on local market requirements<br />
so as to strengthen its position in a range of markets.<br />
These include the ongoing development of its organizational<br />
structures, with a consistent focus on the requirements<br />
arising from what today has grown into a marketing presence<br />
spanning the entire globe, with branches and subsidiaries in<br />
37 countries on all continents. During the period under review,<br />
the standardization needed to achieve these objectives was<br />
accelerated on the basis of the strategic IT platform and the<br />
<strong>Hansgrohe</strong> ERP system, which handled 98 percent of total sales<br />
in 2011. This also opened up additional scope for allowing the<br />
Company to respond quickly and flexibly to changing local<br />
market and customer requirements. This applies all the more<br />
since the <strong>Hansgrohe</strong> Group again invested in the expansion of<br />
its distribution power and boosted brand recognition throughout<br />
its various markets in 2011.<br />
A second set of measures was aimed at boosting effi ciency<br />
and optimizing processes across all divisions and in a systematic<br />
fashion so as to lay the foundations for profitable growth and<br />
improved competitiveness on a global scale. An example of this<br />
is the streamlining of processes and the exploit ation of synergy<br />
effects through the systematic formation of competence centers<br />
within our global production system. The consistent changeover<br />
to assembly line production resulted in a noticeable boost in<br />
the efficiency and flexibility of our workflows. In our base brass<br />
manu facturing facilities alone, we were able to reduce processing<br />
times by 75 percent and boost the production output by<br />
50 percent. Similar productivity gains were achieved through<br />
the ongoing automation and standardization of logistics processes,<br />
including the standardization of all goods receipts, material<br />
planning and in-house logistics processes, the expanded use<br />
of state-of-the-art RFID technology and the continued extension<br />
of electronic processing of customer orders. This led to an<br />
improvement in the quality of services provided to customers: In<br />
2011 the performance track record of <strong>Hansgrohe</strong> deliveries<br />
was up by 10 percent year-on-year, to over 83 percent.<br />
These and other measures, implemented as part of the<br />
“<strong>Hansgrohe</strong> Plus 21” efficiency enhancement program which<br />
operates across all divisions and in all the companies in the<br />
various countries, allowed the <strong>Hansgrohe</strong> Group to realize<br />
savings on the order of more than €19 million in 2011. Since this<br />
Strategy<br />
6<br />
intelligent cost management program was launched in 2001,<br />
total cost savings have amounted to more than €146 million. At<br />
the same time, the so-called working capital days declined by<br />
13 percent compared with the previous year.<br />
This provided the <strong>Hansgrohe</strong> Group with the necessary<br />
scope to invest in expanding production capacities, the internationalization<br />
of its marketing, and the continued improvement<br />
of the Group’s innovative strength during the period under<br />
review – as in recent years, the essential factors contributing to<br />
the success of the <strong>Hansgrohe</strong> Group during the reporting period.<br />
The innovative power of <strong>Hansgrohe</strong> in particular – the result of<br />
close cooperation with design engineers, developers, product<br />
managers, manufacturing engineers and external designers of<br />
inter national repute, relationships that have matured over the<br />
years – is what constitutes the decisive criterion that distinguishes<br />
the Company from its global competitors. This applies all the<br />
more since this innovative power is combined with our promise<br />
to deliver quality, and hence to make life easier, more practical,<br />
more pleasurable, through real innovation. Taking this route,<br />
<strong>Hansgrohe</strong> has succeeded again and again in setting new trends<br />
by coming up with innovations that meet the needs of markets<br />
and consumers, and keeping the Company ahead of the competition.<br />
It is no coincidence that in 2011 around 27 percent of total<br />
sales was generated by mixers, showerheads and shower systems<br />
that were launched no more than three years ago.<br />
Delivery service<br />
2011: 85%<br />
<strong>2010</strong>: 79%<br />
Delivery reliability<br />
2011: 98%<br />
<strong>2010</strong>: 96%<br />
Working Capital Days<br />
2011: 60 days<br />
<strong>2010</strong>: 70 days
Internationalization as a growth<br />
factor: The course is set for intensified<br />
globali zation of the business.<br />
Productivity as a success factor:<br />
Centers of competence in manufacturing<br />
plants help create synergies.<br />
Strategy<br />
Innovation as a growth factor: New products from <strong>Hansgrohe</strong> meet with an<br />
enthusiastic response because they increase the benefit for the customer.<br />
Design as a success factor: Axor exhibition at the Museum of Design in Atlanta.<br />
7
With capital spending in excess of € 42 million (<strong>2010</strong>:<br />
€ 33 million) in the last financial year, the <strong>Hansgrohe</strong> Group<br />
invested more in fixed assets than ever before in its 110-year<br />
corporate history. Once again the lion’s share of the capital<br />
went into the German locations, where 80 percent of total production<br />
– measured in terms of revenue – comes from six manufacturing<br />
plants. In addition to investing in modernization and<br />
restructuring projects in the fields of production and logistics,<br />
the Company spent more than €11 million on the expansion of<br />
its manufacturing capacities in Schiltach and Offenburg in 2011.<br />
The <strong>Hansgrohe</strong> Group used a substantial part of these investments<br />
to expand its Offenburg-Elgersweier manufacturing plant,<br />
built as recently as 2008. These measures increased the space<br />
available for production in this state-of-the-art mixer plant by<br />
about 30 percent, to a total of 10,500 square meters.<br />
During the reporting period, the <strong>Hansgrohe</strong> Group also<br />
laid the foundations for enlarging the <strong>Hansgrohe</strong> manufacturing<br />
plant in Songjiang, China. Over the next few years, the planned<br />
expansion of the production and assembly sections by more<br />
50.0<br />
45.0<br />
40.0<br />
35.0<br />
30.0<br />
25.0<br />
20.0<br />
15.0<br />
10.0<br />
5.0<br />
0<br />
26<br />
6<br />
20<br />
Investments<br />
Investments – ready for<br />
sustained growth<br />
<strong>Hansgrohe</strong> Group Investments*<br />
33<br />
5<br />
28<br />
23<br />
4<br />
19<br />
33<br />
4<br />
29<br />
42<br />
2007 2008 2009 <strong>2010</strong> 2011<br />
* including leasing international national<br />
8<br />
than 6,000 square meters should result in a doubling of the<br />
capacity of what is now the biggest <strong>Hansgrohe</strong> production facility<br />
on foreign soil. This move is <strong>Hansgrohe</strong>’s response to the fact<br />
that China has now advanced to become the Company’s topselling<br />
foreign market. The upgrade of the plants in Germany and<br />
the preparations for the expansion in “The Middle Kingdom”<br />
were indeed a reaction to sustained high demand for the<br />
Company’s mixers and showerheads. The expansion measures<br />
were also needed in preparation for anticipated growth.<br />
A further substantial part of capital spending last year<br />
again went into tools and equipment for the manufacture of new<br />
products. In addition, investments were also again made in 2011<br />
in an effort to further enhance the Company’s environmental<br />
performance. One of the measures here was the refurbishment<br />
of the corporate headquarters to improve energy efficiency,<br />
lowering the building’s CO₂ emissions by 134 tons per annum.<br />
Thanks to high level of equity and the solid earnings situation,<br />
all investments could be funded from cash flow.<br />
9<br />
33
Total production area<br />
142,516 sqm<br />
Investments<br />
Investing in further growth “Made in Germany”: The <strong>Hansgrohe</strong> Group spent<br />
over €11 million on upgrading its manufacturing capacities in Germany in 2011.<br />
9
Last year the <strong>Hansgrohe</strong> Group processed more than 98<br />
percent of its sales via the SAP-based Enterprise Resource<br />
Planning System (ERP). The aim of this, probably the Company’s<br />
most important investment project in the logistics domain in 2011,<br />
was to integrate the <strong>Hansgrohe</strong> Logistics Center Offenburg<br />
(LZO), from where approximately 105 tons of products are dispatched<br />
on a daily basis, into this strategic IT platform. With the<br />
implementation of the SAP Extended Warehouse Manage ment<br />
(EWM) at the LZO, <strong>Hansgrohe</strong> has raised its worldwide distribution<br />
logistics operation to a new level. The project, carried out<br />
while the LZO remained operational, was completed in October<br />
2011. This achievement is all the more significant since the worldwide<br />
standardization and the consistency of business processes<br />
associated with it opens up further potential for productivity<br />
increases, especially by stepping up the introduction of new<br />
technologies such as RFID.<br />
Through the LZO, the heart of <strong>Hansgrohe</strong>’s worldwide<br />
logistics operation, from where mixers and showerheads were<br />
shipped to 126 countries during the reporting period, the<br />
Company ensures the availability of its extensive product range<br />
across the globe. To cope with the logistical challenges posed<br />
by the sustained growth in sales as well as maintain the ability<br />
to respond to future market conditions, it was imperative that the<br />
capacity, flexibility and efficiency of the distribution logistics<br />
organization at the LZO be raised. To this end, a special SAP<br />
tool was used to create a warehousing IT infrastructure that can<br />
stand the test of time and which has the capacity to effectively<br />
and efficiently manage the diverse range of warehousing process<br />
at the LZO – from put-away, stock removal and stock<br />
transfer via order picking and dispatch processing, through to<br />
supporting the performance of special customer services.<br />
Focus<br />
LZO runs SAP<br />
10<br />
In the course of this IT upgrade, we succeeded in covering<br />
more specific customer requirements and implementing new<br />
logistical approaches in the global distribution network on the<br />
one hand. On the other, the full integration into the overall SAP<br />
system architecture resulted in a reduction in the number of<br />
interfaces, covering a high level of functionalities at the same time.<br />
The flexibility gained in terms of process requirements and the<br />
innovative opportunities to continue optimizing of the logistics<br />
processes – without the need to adapt the warehouse logistics<br />
and automation technology infrastructure – makes it possible to<br />
provide a powerful and efficient 24-hour service for all product<br />
ranges, creating additional competitive advantages in the process.<br />
Logistics Center Offenburg (LZO)<br />
3,400 active products on sale<br />
8,900 active replacement parts<br />
2,200 deliveries/day<br />
8,500 order lines/day<br />
7,000 parcels/day<br />
105,000 tonnage dispatched/day (kg)
Boosting performance and efficiency in order-picking, packaging and dispatch operations: The upgrade of the logistics IT system<br />
based on the SAP standard EWM makes it possible to cope with logistics associated with the sustained growth in sales.<br />
11
Green Company – sustainability<br />
equates to future viability<br />
The <strong>Hansgrohe</strong> Group can look back on a long<br />
history of building sustainable operations. Protection<br />
of the environment and its resources form as much a<br />
part of the <strong>Hansgrohe</strong> corporate philosophy and the<br />
Group‘s entrepreneurial activities as does the awareness<br />
of its social responsibility both inside and outside<br />
the factory gates. To the Company, a clear focus on sustainability<br />
is one of the fundamental requirements to remain on a<br />
successful track in the long run and to continue recording profitable<br />
growth. For this reason, the <strong>Hansgrohe</strong> Group in its business<br />
plan set itself the target to integrate the principles of sustainable<br />
operation into all its business processes and gradually develop<br />
<strong>Hansgrohe</strong> into a fully sustainable enterprise. In pursuit of this<br />
aim, the Company not only formulated the relevant guidelines,<br />
they also defined a set of strategic and measurable sustainability<br />
targets. These include a re duction in water consumption by ten<br />
percent – measured against the base year of <strong>2010</strong> and the<br />
total weight of products sold – and a 20 percent reduction in<br />
direct Company CO₂ emissions by the year 2014. A steering<br />
committed headed by the CEO has been put in place with the<br />
task of overseeing all sustain ability activities carried out within<br />
the <strong>Hansgrohe</strong> Group.<br />
Protection of the environment has never been considered<br />
a bothersome obligation by the <strong>Hansgrohe</strong> Group. On the contrary,<br />
it is valued as a motivating force in product innovation<br />
and manufacturing, as well as a factor contributing to the enhancement<br />
of efficiency and cost structures. It is therefore natural<br />
for the Company to have a policy that goes beyond merely<br />
complying with legal requirements, and this is evident in the<br />
ambitious sustainability targets <strong>Hansgrohe</strong> has set itself.<br />
Moreover, the manufacture of products in as environmentally<br />
compatible a manner as possible, and designing them in<br />
such a way that they have a minimal ecological footprint throughout<br />
their entire lifecycle is an integral part of the <strong>Hansgrohe</strong><br />
promise to deliver quality. In line with this policy, in 2011 the<br />
<strong>Hansgrohe</strong> Group became the world’s first manufacturer in the<br />
sanitation industry to produce an Environmental Product Declaration<br />
(EPD) for its handshowers. In the comprehensive life cycle assessment<br />
conforming to international standards, the Company determines<br />
the ecological footprint of its products along the entire<br />
value-added chain, in the process achieving a high degree<br />
of transparency in relation to their environmental impact. The<br />
<strong>Hansgrohe</strong> Group will also be using this newly acquired expertise<br />
in its efforts to design its products and new developments<br />
as well as its manufacturing processes to achieve even greater<br />
Sustainability<br />
12<br />
levels of sustainability, bringing it closer to attaining its<br />
sustainability targets.<br />
To maintain the focus on these targets, the<br />
<strong>Hansgrohe</strong> Group has implemented a Green Controlling<br />
system. Its purpose is to record and evaluate environmental<br />
and sustainability data with greater precision. During the<br />
period under review, work proceeded on defining the database in<br />
greater detail. In order to assess the Company’s progress toward<br />
running an ecologically sustainable operation, independent of<br />
fluctuations occurring in the economy, the Green Controlling system<br />
rates all absolute consumption and emissions data in relation<br />
to the weight of products sold. This is the only way to successfully<br />
monitor the impact of the sustainability measures by means of<br />
these key indicators on an ongoing basis.<br />
Just how much CO 2 is there in<br />
a hand shower?<br />
Computer incl. peripherals<br />
<strong>Hansgrohe</strong> handshower<br />
Crometta 85<br />
2 .17 kg<br />
bowl of strawberries<br />
0.375 kg<br />
cup of coffee<br />
0.059 kg<br />
336 kg<br />
from industrial production<br />
from agricultural production<br />
Among other products, the Crometta 85 range was analyzed<br />
for the purpose of compiling the EPD. The results showed that<br />
during the entire manufacturing process for the handshower,<br />
from the mining of the raw materials right through to the dispatch,<br />
and including the eventual recycling or disposal of the<br />
product, around 2.17 kg of CO₂ (median value) were emitted.
200,000<br />
180,000<br />
160,000<br />
140,000<br />
120,000<br />
100,000<br />
28,000<br />
27,000<br />
26,000<br />
25,000<br />
24,000<br />
23,000<br />
Water consumption <strong>Hansgrohe</strong> Group<br />
10.89<br />
170,492<br />
2009<br />
Water consumption in m³<br />
24,700<br />
187,104<br />
26,700<br />
165,590<br />
CO₂ emissions <strong>Hansgrohe</strong> Group<br />
2009<br />
<strong>2010</strong><br />
2011<br />
Eco-efficiency ratio: Water consumption, in m³/products sold, in t<br />
1.57<br />
Target: 9.58<br />
Target: 1.22<br />
10.64<br />
1.52<br />
<strong>2010</strong><br />
Eco-efficiency ratio: CO₂ emissions, in t / products sold, in t<br />
8.74<br />
1.49<br />
28,217<br />
2011<br />
11.0<br />
10.5<br />
10.0<br />
9.5<br />
9.0<br />
8.5<br />
1.60<br />
1.50<br />
1.40<br />
1.30<br />
1.20<br />
1.10<br />
CO₂ emissions from production locations (manufacturing processes, building services), in t<br />
Sustainability<br />
13<br />
2,500<br />
2,000<br />
1,500<br />
1,000<br />
500<br />
0<br />
Hazardous waste <strong>Hansgrohe</strong> Group<br />
2,045 1,747<br />
1,471<br />
Occupational safety (LTIR – Lost Time Injury Rate*)<br />
3.50<br />
3.00<br />
2.50<br />
2.00<br />
1.50<br />
1.00<br />
0.50<br />
0<br />
2009<br />
Hazardous waste, in t<br />
2009<br />
<strong>2010</strong><br />
Eco-efficiency ratio: Hazardous waste, in t / products sold, in t<br />
<strong>2010</strong><br />
2011<br />
2011<br />
0.13<br />
0.12<br />
0.11<br />
0.10<br />
0.09<br />
0.08<br />
0.07<br />
* number of work-related accidents involving working days lost x 200.000 / (work hours<br />
performed/year)<br />
0.13<br />
Target: 0.08<br />
2.59<br />
0.10<br />
1.21<br />
0.08<br />
1.05<br />
Target: < 1.00
During the last financial year, the <strong>Hansgrohe</strong> Group benefited<br />
mainly from the above-average growth generated by the<br />
premium brand, <strong>Hansgrohe</strong> (showers, bathroom and kitchen<br />
mixers as well as thermostat and waste technology). In contrast,<br />
the designer brand Axor (complete designer collections for individually<br />
taylored bathrooms) stagnated at the previous year’s<br />
level. The downward trend in the wellness market – in evidence for<br />
some years now – accelerated and prompted a further reduction<br />
in sales for the wellness brand, Pharo (shower and wellness<br />
systems), in line with expectations. In an effort to strengthen the<br />
focus on environmental and climate protection technologies, the<br />
<strong>Hansgrohe</strong> Group consolidated the activities of the environmental<br />
brand, Pontos (fully automated gray water recycling and heat<br />
recovery) and the core brand, <strong>Hansgrohe</strong>, in a newly established<br />
“Smart Water Solutions” division during the 2 nd quarter of<br />
2011. To this end, entity, Pontos GmbH, was reintegrated into<br />
<strong>Hansgrohe</strong> SE, with retroactive effect to January 1, 2011, with the<br />
Pontos AquaCycle and Pontos HeatCycle technologies continuing<br />
to be maintained as product brands. The restructuring measure<br />
involved a re-orientation of all the activities of Pontos, with the<br />
aim of bringing them closer to the core business of <strong>Hansgrohe</strong> SE<br />
once again and linking them with the EcoSmart product range of<br />
the <strong>Hansgrohe</strong> brand. Due to the focus on this realignment, which<br />
also prompted a review of the product range, the business volume<br />
was down as expected.<br />
During the period under review, the <strong>Hansgrohe</strong> brand<br />
managed to carry on its dynamic growth from the previous year<br />
and once again increased sales of its products substantially.<br />
Surging by 15 percent, the brand’s sales set a new record in<br />
2011. The <strong>Hansgrohe</strong> brand also consolidated its role as the<br />
engine for growth within the Group. Mixers and shower systems<br />
made a disproportionate contribution to the growth in sales,<br />
continuing a trend that has been noticeable since 2007: The<br />
mixer segment generates more sales than the shower segment.<br />
Brands and Innovations<br />
Innovation quality and<br />
customer benefit<br />
14<br />
The brand’s success in further extending its leading position<br />
internationally as a supplier of quality mixers was also due to<br />
the exceedingly positive response to the innovative concept of<br />
the <strong>Hansgrohe</strong> ComfortZone – driven by the new Metris line –<br />
in the ISH year 2011. In the shower segment, demand for shower<br />
systems, and especially showerpipes, increased again in the last<br />
financial year. An additional boost came from the development<br />
of the completely new thermostat archetype Ecostat Select and<br />
its combination with the Raindance Select range – a move<br />
by which <strong>Hansgrohe</strong> totally redefined the world of surface-<br />
mounted showers.<br />
Contribution of new<br />
products to total sales<br />
27%<br />
The designer brand Axor ended the 2011 financial year<br />
just below the previous year’s level, recording a slight drop in<br />
sales of 0.4 percent. During the period under review, the aftereffects<br />
of the worldwide financial markets, economic and property<br />
crisis again led to continuing strong downtrading, especially<br />
in the project business in the European and North American<br />
markets. The trend was partially offset by the growth in sales in<br />
the so-called emerging markets, and China in particular. As was<br />
the case the previous year, the major contributors to growth were<br />
again the Axor Citterio and Axor Citterio M bathroom collection<br />
developed together with Antonio Citterio; the Axor Urquiola<br />
collection, the product of the collaboration with Patricia Urquiola;<br />
and the modular Axor ShowerCollection created jointly with<br />
Philippe Starck. A positive impact was also generated by the<br />
enthusiastic feedback to the market launch of the Axor Bouroullec<br />
collection and its revolutionary systems approach.
Brands and Innovations<br />
For the second time in a row: The Design Award of the Federal Republic of Germany 2011, for Axor Urquiola.<br />
Enthusiastic customers at the ISH 2011 – thanks to newly launched<br />
products that represent real added value for consumers.<br />
15<br />
The highest quality of innovation: Axor Bouroullec,<br />
the revolution in bathroom design.
Whether the subject is fashion, furniture or architecture –<br />
New York, or to be precise the Meatpacking District in Manhattan<br />
– is considered to be one of the international hotspots<br />
when it comes to creative design. It was therefore no surprise<br />
that designers, architects, interior designers and representatives<br />
of the media were in the majority among the 1,200 guests invited<br />
to celebrate the official opening of the first Axor Design<br />
Studio in the United States, which took place in Manhattan on<br />
September 15, 2011. “Axor NYC” is sharing the premises in a<br />
building on 9 th Avenue, corner 13 th Street with Vitra, the Swiss<br />
furniture manufacturer. World-famous designers with whom Axor<br />
has been cooperating closely for many years now, including<br />
Patricia Urquiola, Ronan Bouroullec and Antonio Citterio, sent<br />
their congratulations for the opening in video messages. In his<br />
message, the Milan-based architect and designer Antonio Citterio<br />
noted that the collaboration and the immediate vicinity of Axor<br />
and Vitra was a “fantastic combination”. He suggested that the<br />
cooperation was a perfect match, since both Axor and Vitra had a<br />
great passion for design and for quality, and even partnered with<br />
some of the same designers. Antonio Citterio and the Bouroullec<br />
brothers, for example, work with both companies.<br />
This versatility and quality of international bathroom design<br />
is what “Axor NYC” is now bringing to Manhattan. Since then<br />
the design studio, deliberately conceived to be more than just a<br />
showroom, has attracted not only large numbers of people with<br />
a general interest in design and wanting to create a bathroom<br />
in accordance with their individual needs and desires; it has also<br />
become a magnet for “insiders”, mainly architects and interior<br />
Focus<br />
Axor goes NYC<br />
Axor NYC: Siegfried Gänßlen (2nd from left), CEO of<br />
<strong>Hansgrohe</strong>, Philippe Grohe, Head of the Axor brand<br />
(left), and the <strong>Hansgrohe</strong> North America team<br />
welcome 1,200 guests attending the official opening<br />
of the Axor Design Studio.<br />
16<br />
designers who – often together with their customers – avail<br />
themselves of the services offered by the Axor specialists to<br />
assist with their planning and in search for design solutions. The<br />
Axor design studio also serves as the perfect venue for seminars<br />
and other events involving designers and architects.<br />
Situated in the middle of Manhattan, in one of the Big<br />
Apple’s most creative quarters, “Axor NYC” is indeed a space<br />
replete with inspiration to guide the conversation about the many<br />
and varied opportunities available to anyone interested in the<br />
individualized design of their bathroom. The Axor Design Studio<br />
presents solutions for the bathroom as a living domain on<br />
approximately 3,000 sqm of floor space. Fully installed bathrooms<br />
embody practical examples of how the visions of designers of<br />
international renown can be turned into a reality with the Axor<br />
collections available in the United States. Interactive water displays<br />
provide visitors with the immediate and compelling experience<br />
of water mediated through Axor and <strong>Hansgrohe</strong> mixers,<br />
made possible thanks to the Company’s outstanding technological<br />
competence and the many years of accumulated know-how in<br />
fluid stream research.<br />
Axor NYC<br />
29 9 th Avenue (corner 13 th St.)<br />
Meatpacking District<br />
New York City<br />
Hours of business: Monday to Friday 11am – 6pm<br />
Tel.: +1 212-463-5790 • axornyc@hansgrohe.com
Axor NYC: In a space measuring around 3,000 sqm in Manhattan’s hotbed of creativity, the Meatpacking District,<br />
the design studio presents individual design solutions for the bathroom as a living space.<br />
17
Greater comfort in the bathroom<br />
During the year when the world’s biggest sanitation trade<br />
fair, the ISH, was staged in Frankfurt, innovative products were<br />
key to the Company’s successful performance. Some 25 patents,<br />
165 trademarks and 109 designs registered by the <strong>Hansgrohe</strong><br />
Group in 2011 to protect the innovative ideas, products and<br />
technologies emerging from the Company’s own research and<br />
development department are a clear demonstration of the Company’s<br />
innovative power.<br />
The many new products presented by the Axor and<br />
<strong>Hansgrohe</strong> brands at the VIP forum and at the ISH drew a strong<br />
and positive response among customers from around the world.<br />
The market partners were in fact acknowledging <strong>Hansgrohe</strong>’s<br />
commitment, firmly embedded in the Company’s culture of innovation,<br />
that newly developed products must increase the benefit<br />
to the customer. This commitment is informed by a concept of<br />
quality that rates any innovative feature by the extent to which it<br />
will make life easier, and will therefore improve the quality of life.<br />
It therefore did not come as a surprise that the Axor Bouroullec<br />
bathroom collection, developed in collaboration with the brothers<br />
Erwan and Ronan Bouroullec (Paris), generated great enthusiasm<br />
especially among planners, since it opens up the scope for bathroom<br />
design on a scale never seen before, making it perfectly<br />
attuned to the growing trend toward a greater individualization<br />
of the bathroom as a living space. Equally positive was the<br />
market’s response to the concept of the <strong>Hansgrohe</strong> ComfortZone<br />
and the associated expansion in the range of mixers, which<br />
offers a wide range of solutions to meet individual preferences<br />
and requirements at the wash basin.<br />
The Company’s extraordinary power of innovation was<br />
also confirmed by the large number of awards conferred on Axor<br />
2011 Product highlights<br />
18<br />
and <strong>Hansgrohe</strong> products by independent international judging<br />
panels during the last financial year. <strong>Hansgrohe</strong> SE participated<br />
in a total of seven international design competitions in 2011. In<br />
addition, <strong>Hansgrohe</strong> North America also participated with great<br />
success in the Good Design and the Green Good Design Award<br />
competition, and on the other side of the globe <strong>Hansgrohe</strong> China<br />
was equally successful with its submission for the inaugural<br />
Successful Design Award. These efforts earned the Company a<br />
total of 34 awards (<strong>2010</strong>: 24; 2009: 22) – yet another new<br />
record. Among them was, once again, the Design Award of the<br />
Federal Republic of Germany for 2011, this time for the Axor<br />
Urquiola wall-mounted wash basin. Moreover, Axor Bouroullec<br />
was the first product from <strong>Hansgrohe</strong> SE to win prizes awarded<br />
by the world-famous lifestyle and interior architecture magazines<br />
“Elle Decor” and “Wallpaper”.<br />
34 design awards<br />
25 patents<br />
109 registered designs<br />
165 trademarks<br />
It is hardly surprising, therefore, that in the corporate rankings<br />
published by the International Forum Design, <strong>Hansgrohe</strong><br />
SE moved up again in 2011, and is now ranked 11 th of around<br />
1,900 companies. <strong>Hansgrohe</strong> SE was thus able to successfully<br />
defend the top spot in the sanitation technology sector of this<br />
international hit parade of good design.
Focus on benefit to the customer: The<br />
responses from market partners to the<br />
new products launched by Axor and<br />
<strong>Hansgrohe</strong> were consistently positive.<br />
2011 Product highlights<br />
<strong>Hansgrohe</strong> ComfortZone: Individual custom solutions<br />
19<br />
for greater comfort in the bathroom.
By extending its range of mixers to include the new Metris S<br />
line as well as the additions to the Talis and Focus lines – all of<br />
them from the creative workshop of Phoenix Design – the premium<br />
brand of <strong>Hansgrohe</strong> SE did more than simply add some new<br />
products to its range. The key aspect here was the introduction<br />
of the <strong>Hansgrohe</strong> ComfortZone concept, whose purpose it is to<br />
offer the right solution for widely varying wash basin scenarios<br />
and different individual requirements. With their spouts arranged<br />
at varying heights, the new mixers from the “World of Styles” do<br />
indeed create the freedom to design the useable space below<br />
the mixer, the so-called ComfortZone, to suit individual preferences.<br />
It also opens up entirely new possibilities for combining a<br />
wash basin with the right mixer. With this development, <strong>Hansgrohe</strong><br />
consolidated its reputation as an innovative mixer manufacturer,<br />
as was confirmed by the positive response from the market. It is<br />
particularly encouraging that sales in all price segments saw a<br />
marked increase, with the number of mixers sold during the last<br />
financial year setting a new record.<br />
2011 Product highlights<br />
<strong>Hansgrohe</strong><br />
20<br />
In the shower segment, the <strong>Hansgrohe</strong> brand benefited<br />
first from in the rapid growth in the market for shower systems<br />
during the period under review. By combining the showerheads<br />
of the Raindance Select launched in 2011 with an entirely new<br />
archetype of thermostat, which also doubles as a shelf, the brand<br />
has extended its range in the higher-priced segment and consolidated<br />
its leading role as a specialist for showerheads. This role<br />
was further underlined with the market launch of the Raindance<br />
Lift shower system, developed in collaboration with Phoenix<br />
Design: a height-adjustable shower panel with integrated flood<br />
jet – a world first. Secondly, the launch of the Raindance Select<br />
150 handshower prompted a jump in sales in this segment. The<br />
premium brand scored high not only because of the advanced<br />
development embodied in the very modern design of the new<br />
Raindance, but also thanks to the easy-to-use Select technology,<br />
which lets the user choose the type of jet simply by pushing<br />
a button. Incidentally, the Raindance Select handshower also<br />
happens to be the handshower used by the German Olympic<br />
team for London in 2012.<br />
Individual solutions for the wash basin: Guidance for choosing the right mixer is available from the<br />
<strong>Hansgrohe</strong> ComfortZone Configurator at www.hansgrohe-int.com/configurator.
Continuing growth in demand: Shower systems such as the Showerpipe Raindance Select 360 or<br />
the Raindance Rainfall 180 overhead shower generated more sales.<br />
21
For Axor, the 2011 financial year was dominated by the<br />
inter national launch of the Axor Bouroullec collection, developed<br />
together with two French designers, the brothers Erwan und Ronan<br />
Bouroullec, and presented for the first time the year before.<br />
Running under the slogan “Feel Free to Compose”, one of the<br />
top priorities was to emphasize the freedom to design that is<br />
afforded by this collection, to an extent unheard of in the past,<br />
and the infinite number of solutions that result from this. Axor<br />
Bouroullec makes it possible to adapt the bathroom to suit each<br />
customer’s individual functional requirements and aesthetic preferences<br />
as well as the specific spatial characteristics of the<br />
bathroom. This is achieved thanks to the systemic approach<br />
taken with this bathroom collection, which allows the mixer elements<br />
to be combined with the different wash basin models from<br />
Axor Bouroullec in various ways, with the different mixer models<br />
freely positioned on the wash basin. With this collection, not only<br />
does the designer brand of <strong>Hansgrohe</strong> SE meet the growing<br />
demand for individualized design in the bathroom; the Company<br />
also assists architects and interior designers to follow their creative<br />
urges and develop custom solutions instead of being forced<br />
2011 Product highlights<br />
Axor<br />
22<br />
to make do with standard solutions. Additional confirmation<br />
that Axor is turning the bathroom into an interesting design<br />
space for architects with this collection came in the form of the<br />
“Wallpaper Design Award 2011”, the “Elle Deco International<br />
Design Award (EDIDA)” and the “Innovation Award Architecture<br />
and Technology”, as these awards focus less on product design<br />
than on the design concept on which Axor Bouroullec is based.<br />
As a leading supplier of complete solutions for the bathroom<br />
as a living space and place of well-being, Axor does indeed<br />
benefit from the fact that the brand seeks collaboration with<br />
international designers whose work demonstrates that they do not<br />
confine themselves to thinking in terms of individual products,<br />
but in terms of spaces and design solutions. The same principle<br />
is at work in the Axor ShowerCollection with Philippe Starck,<br />
whose modular system was expanded to include additional<br />
elements in 2011, opening up even more design options. It is no<br />
coincidence that this shower collection created by the French<br />
interior architect and top designer was one of Axor’s bestsellers<br />
last year.<br />
“Feel free to Compose”: Axor Bouroullec opens up an infinite number of design possibilities in the bathroom …<br />
… and the Axor Bouroullec Composer is the way to play through some of these options in a virtual space.
“Haute Couture for the Shower”: The Axor ShowerCollection with Philippe<br />
Starck is a modular construction kit that provides greater scope for planning.<br />
23
Anyone manufacturing and selling successful products<br />
on the international market is bound to be confronted eventually<br />
with counterfeit copies of these products. For this reason,<br />
<strong>Hansgrohe</strong> has been employing product pro tection measures<br />
for more than 30 years and is registering a total of about<br />
300 patents, designs and trademarks every year – with in-<br />
creasing intensity in recent years. Worldwide, the Company<br />
invests between two and three million euros annually in protecting<br />
its products and ideas, and in combating theft of industrial<br />
property rights and the production of counterfeit copies. It is<br />
the only avenue available to the mixer and shower specialist in<br />
the battle against product pirates, and <strong>Hansgrohe</strong> SE is fully<br />
committed to taking that route.<br />
Estimates put the financial loss to the business caused by<br />
product piracy at between 5 and 10 percent of net sales. To put<br />
it another way, this means that the creation of a sizable number<br />
of new workplaces at <strong>Hansgrohe</strong> – around 100 jobs – is being<br />
prevented as a result of these pirated products. This is another<br />
reason why <strong>Hansgrohe</strong> shows no mercy to product pirates.<br />
Since 2001, the Company has initiated prosecution proceedings<br />
in over 100 serious cases of intellectual theft. Around<br />
80 percent of the cases that made it to court were decided in<br />
favor of <strong>Hansgrohe</strong> SE. During the period under review, the<br />
Company was able to win an important legal case in China,<br />
Focus<br />
No mercy for<br />
product pirates<br />
Original and copy: The original “Focus S” mixer<br />
made by <strong>Hansgrohe</strong> (left), and the copy, for which<br />
the Chinese mixer manufacturer Joyou was<br />
awarded the negative “Plagiarius” prize in 2011.<br />
24<br />
which it had brought against the Joyou Group Building Mate rials<br />
Co., Ltd., with operations head office in Nan’an, Quanzhou in<br />
Fujian province. In a settlement negotiated before the court, our<br />
Chinese competitor, who has been listed on the German Stock<br />
Exchange under the name of Joyou AG since the year <strong>2010</strong>, is<br />
obliged to cease production and distribution of the mixer model<br />
JY 00121 with immediate effect. In February 2011, the Joyou<br />
company had already received the “Plagiarius” award for its<br />
copy of the Focus S wash basin mixer from <strong>Hansgrohe</strong>; the<br />
award is given to “particularly blatant counterfeit copies”.<br />
Among the countermeasures employed by <strong>Hansgrohe</strong> SE<br />
in the fight against product pirates is the public staging of the<br />
destruction of impounded counterfeit products. By taking this<br />
action, the Company wants to make clear to consumers that the<br />
copies represent inferior value because, as a rule, the similarities<br />
are confined to what is visible: the external shape. Often<br />
the original product made of certified and tested materials<br />
offers substantially better functionality, and hence better value<br />
for the consumer when compared with the counterfeit copy. In<br />
the case of the Focus S mixer mentioned here, this additional<br />
functionality consists of a flow limiter, for example, which reduces<br />
water consumption to about five liters per minute, the<br />
QuickClean anti-lime scale function, and an integrated hotwater<br />
flow safety restriction.
Zero-tolerance strategy: Seized counterfeit copies are destroyed –<br />
like these 13,000 copies of the bestselling <strong>Hansgrohe</strong> Raindance.<br />
25
Markets<br />
In positive earnings<br />
territory around the world<br />
The ambivalence in the performance of the global economy<br />
during the period under review, with a very dynamic first<br />
half of the year and a marked slowdown in the rate of growth<br />
during the second, is also reflected in the business performance<br />
of the <strong>Hansgrohe</strong> Group. The bottom line is that almost all of<br />
the regions managed to record positive results for the 2011<br />
financial year. The growth markets in the Far East and in South<br />
East Asia, in southern Africa, Latin America and eastern Europe<br />
enjoyed above-average growth. In contrast, the growth rates in the<br />
saturated markets of North America and – under the impact of<br />
the sovereign debt crisis – in the<br />
euro zone were more modest. The<br />
only exceptions were France and<br />
Germany, where the <strong>Hansgrohe</strong><br />
distribution companies recorded<br />
growth in the double-digit percentage<br />
range. In the German<br />
home market especially, the<br />
increase of more than 14 percent<br />
exceeded expectations. One contributing<br />
factor here was that,<br />
after years of exercising restraint,<br />
end consumers are once again<br />
investing in high-quality equipment<br />
and bathroom renovations,<br />
and this in turn provided a vital<br />
impetus for the trading segment.<br />
Another factor contributing to the<br />
growth in revenue are the success<br />
stories in the project business,<br />
where the German sales team managed to win contracts to<br />
supply equipment for several cruise ships and big hotels, such<br />
as the Hilton Waldorf Astoria in Berlin and the Radisson Blu in<br />
Düsseldorf.<br />
The above-average business performance in Germany is<br />
also the reason why the contribution to total net sales by foreign<br />
operations dropped slightly, to 77 percent (<strong>2010</strong>: 78 percent)<br />
over the reporting period. In the business beyond Germany’s<br />
Successful Design Award: In China, <strong>Hansgrohe</strong> tops the<br />
rankings for “excellent form” and the highest quality.<br />
26<br />
borders, the Company recorded particularly high growth rates<br />
in the emerging markets. In China especially, the systematic<br />
development of the market and the gradual establishment of our<br />
own state-of-the-art production facility in the country itself<br />
turned out to be positive factors. This manufacturing plant was<br />
built without the involvement of local joint venture partners. The<br />
regionalization of the marketing, which focuses on regions<br />
beyond China’s megacities, and the establishment of more<br />
than 100 new <strong>Hansgrohe</strong> points of sale in these regions in 2011,<br />
are now bearing fruit. Equally important is the fact that the<br />
Company’s own mixer manufacturing<br />
plant in Songjiang makes it<br />
possible to meet demand from<br />
China’s growing middle class with<br />
a range of products tailored specifically<br />
to suit the requirements<br />
of local customers. In the final<br />
analysis, China recorded the biggest<br />
increase in sales, even in<br />
absolute terms, of all <strong>Hansgrohe</strong><br />
branches and subsidiaries in the<br />
last financial year, making it the<br />
Company’s most important foreign<br />
market.<br />
It is particularly pleasing<br />
that, following the turnaround in<br />
<strong>2010</strong>, <strong>Hansgrohe</strong> North America<br />
managed to confirm the upward<br />
trend last year, and even generated<br />
further growth. Especially in the trading segment and in the<br />
DIY business, which is very popular in North America, the U.S.<br />
subsidiary of <strong>Hansgrohe</strong> recorded additional gains. In light of<br />
the succession of positive economic indicators in the world’s<br />
biggest economy, a double-digit increase in sales for 2012<br />
appears within reach.
Markets<br />
Success factor international project business: <strong>Hansgrohe</strong> is the<br />
official supplier for no fewer than four stadiums where the fixtures for the<br />
2012 European Football Championship will be played …<br />
Germany + 14%<br />
Emerging markets + 19 %<br />
… as well as for numerous famous hotels around the world, like the<br />
Barceló Harrogate Majestic Hotel in the United Kingdom.<br />
27
South Africa – more than<br />
just a growth market<br />
Established as recently as 2009, the distribution company<br />
in South Africa is one of the engines for growth within the<br />
<strong>Hansgrohe</strong> Group. During the period under review, the subsidiary<br />
at the Cape of Good Hope again posted an increase in sales in<br />
the double-digit range and managed to gain additional market<br />
share in spite of the crisis in the construction sector.<br />
This particular success story started back as far as 1994,<br />
soon after the apartheid era came to an end. Working with<br />
an importer who happened to be highly enthusiastic about<br />
<strong>Hansgrohe</strong>, we succeeded in becoming the first European brand<br />
to be licensed and certified in South Africa. Both parties made<br />
the most of their head start and went on to make <strong>Hansgrohe</strong> the<br />
No. 1 import brand on the market. Today the name <strong>Hansgrohe</strong> is<br />
associated with brand values such as top design, high quality,<br />
perfect functionality and reliable service. The fact that the<br />
brand has become synonymous with modern bathroom design in<br />
the land of Nelson Mandela also owes much to the Company’s<br />
success in the project business.<br />
Four of the stadiums built for the <strong>2010</strong> Football World<br />
Cup were fitted with mixers and showers from <strong>Hansgrohe</strong>. Many<br />
hotels – especially in the higher price bracket – also feature<br />
<strong>Hansgrohe</strong> wash basins, bathtubs and showers in bathrooms and<br />
wellness areas. Today, <strong>Hansgrohe</strong> mixers and showers can be<br />
Focus<br />
In the presence of 300 guests, <strong>Hansgrohe</strong> CEO<br />
Siegfried Gänßlen (left) and the Head of the<br />
South African distribution company, Anthony<br />
Mederer, officially open the new regional office<br />
and exhibition space in Cape Town.<br />
28<br />
found in over 70 percent of the five-star hotels in South Africa.<br />
The EcoSmart range is especially popular with customers. The<br />
Company does indeed benefit from its competence in the field of<br />
water management and its proven technologies for the sustainable<br />
use of the resource water. Both these factors play a vital role in<br />
the “rainbow nation” and have helped <strong>Hansgrohe</strong> to become<br />
established in the government housing project segment as well as<br />
to reach the newly emerging middle class. A decisive factor<br />
within the scope of these success stories is that during the last<br />
financial year, we managed to rapidly expand the distribution<br />
network and increase our presence relative to end consumers.<br />
The Company also benefited from the fact that the head office<br />
in Johannesburg, with a network of three regional offices and<br />
a strong and highly motivated sales team, is able to maintain<br />
close proximity to customers and offer a high-quality service<br />
even in a country as large as South Africa.<br />
For the <strong>Hansgrohe</strong> Group, South Africa is one of the top<br />
six markets in the world in terms of growth potential – all the<br />
more since South Africa offers the opportunity to develop additional<br />
markets in the sub-Saharan region together with trading<br />
partners. During the period under review, <strong>Hansgrohe</strong> signed<br />
agreements for permanent cooperative ventures with importers<br />
in five major countries on the African continent.
Success in the projects business at the Cape – not least<br />
thanks to the water- and energy-saving EcoSmart range –<br />
for example here at the Alice Lane Towers in Sandton.<br />
29
Landmarks in 2011<br />
Architects Robert Matthew, Johnson-Marshall & Partners (RMJM), Architects Principal Abu Dhabi National Exhibitions Company<br />
Hyatt<br />
Capital Gate Hotel<br />
Abu Dhabi/United Arab Emirates<br />
Products Axor Citterio<br />
30<br />
Over the course of the period under review, the international<br />
project business continued to assume greater importance<br />
for the <strong>Hansgrohe</strong> Group. Despite the fact that this is probably<br />
the most demanding as well as the most hotly contested distribution<br />
channel, the Company once again succeeded in generating<br />
double-digit growth in sales, and to top the €100 million<br />
mark in sales for the very first time. Especially in the emerging<br />
markets in the Middle and Far East, in Latin America and in<br />
Eastern Europe, orders were won for a number of spectacular<br />
projects. These include the “Flame Towers” of the Fairmont<br />
Hotel in Baku in Azerbaijan, the “Saadiyat Beach Apartments“<br />
in Abu Dhabi, the “W Residences @ W Hotel Quayside Isle” in<br />
Singapore, the “NSC Olimpiyskiy” stadium in Kiev, and the “St.<br />
Regis” luxury establishment in the “Kingkey Finance Tower” in<br />
Shenzhen in southern China.<br />
Contributing factors in this regard were the further expansion<br />
of the carefully trained sales teams specializing in the project<br />
business and their improved networking on the one hand; on<br />
the other, the ability of the <strong>Hansgrohe</strong> Group to supply custom<br />
solutions with relatively short lead times thanks to the high<br />
degree of flexibility built into its operations was also important.<br />
The projects documented here demonstrate the capability<br />
of the <strong>Hansgrohe</strong> Group and its leading role in the international<br />
project business, which is acknowledged by investors, property<br />
developers and architects around the world.
Platine Hotel<br />
Paris/France<br />
Architects Vincent Bastie<br />
Landmarks in 2011<br />
31<br />
Products <strong>Hansgrohe</strong> PuraVida,<br />
<strong>Hansgrohe</strong> Raindance, <strong>Hansgrohe</strong> Ecostat S,<br />
<strong>Hansgrohe</strong> iBox universal
Landmarks in 2011<br />
W Taipei<br />
Taipeh/Taiwan<br />
Architects G A International Design, London Principal Starwood Hotels & Resorts Worldwide, Inc.<br />
32<br />
Products Axor Citterio
Landmarks in 2011<br />
Restaurant Geist<br />
Copenhagen/Denmark<br />
Products Axor Bouroullec, Axor Citterio<br />
33<br />
Interior designers<br />
Space Architecture & Interior Design<br />
Principal Bo Bech
Landmarks in 2011<br />
Sandton Grand Hotel Reylof<br />
Gent/Belgium<br />
Principal Sandton Grand Hotel Reylof Project developer Van de Walle Bouwgroep<br />
34<br />
Products <strong>Hansgrohe</strong> Talis S,<br />
<strong>Hansgrohe</strong> Flowstar, <strong>Hansgrohe</strong> Croma 100<br />
EcoSmart, Axor Starck
Landmarks in 2011<br />
Interior architects Richard Hutten, Job Smeets, Piet Hein Eek, Evelyne Merkx, Jurgen Bey,<br />
Fleur Muris, Marcel van Neer, Francesco Messori (D/Dock), Gerben van der Molen (Stars<br />
Design), Léon de Lange, Bart Hagevoort, Bart Vos Principal Hotel Management School, Zuyd<br />
35<br />
Products Axor ShowerCollection with<br />
Philippe Starck, Axor Urquiola, Axor Citterio,<br />
Axor Montreux, <strong>Hansgrohe</strong> Metris S,<br />
<strong>Hansgrohe</strong> Talis S, <strong>Hansgrohe</strong> Metropol S,<br />
<strong>Hansgrohe</strong> PuraVida, <strong>Hansgrohe</strong> Raindance,<br />
<strong>Hansgrohe</strong> Croma 100<br />
Château<br />
Bethlehem<br />
Maastricht/Netherlands
havenhostel<br />
Bremerhaven/Germany<br />
Landmarks in 2011<br />
Products <strong>Hansgrohe</strong> Talis E², <strong>Hansgrohe</strong> Crometta 85 Green<br />
36<br />
Architects schultz sievers.architektur<br />
Principal havenhostel Bremerhaven GmbH
Products Axor Starck, <strong>Hansgrohe</strong> Talis E, <strong>Hansgrohe</strong> Croma 100,<br />
<strong>Hansgrohe</strong> Focus E²<br />
Landmarks in 2011<br />
37<br />
Stamford Residences<br />
Sydney/Australia<br />
Architects The Kann Finch Group and<br />
Burley Katon Halliday with Thomas Hamel (design refinement)<br />
Principal Stamford Land Corporation Ltd.
The positive business performance during the reporting<br />
period is also reflected in an increase in the size of the workforce.<br />
With a total number of 3,271 by the cut-off date of December 31,<br />
2011, the number of employees is up by 51 over the previous<br />
year’s level, setting a new record in the Company’s history.<br />
While the increase in the size of the workforce in <strong>2010</strong><br />
was concentrated mainly on the German locations with 113<br />
new workplaces in Schiltach and Offenburg, last year most of<br />
the new jobs created by the Company were located abroad.<br />
Focal points were the production in France, and the targeted<br />
strengthening of our distribution power in growth markets such<br />
as South Africa, India and South East Asia. These measures<br />
boosted the size of the Company’s workforce abroad by 56<br />
employees, to a total of 1,139 by the end of the year 2011<br />
(<strong>2010</strong>: 1,083), or 35 percent of the total workforce. In contrast,<br />
the number of people working for the Company in Germany as<br />
at December 31, 2011 remained at the previous year’s level.<br />
Personnel statistics show that at the cut-off date, the Company<br />
3,500<br />
3,000<br />
2,500<br />
2,000<br />
1,500<br />
1,000<br />
500<br />
0<br />
Grown with<br />
the workforce<br />
3,253<br />
1,171<br />
36%<br />
2,082<br />
64%<br />
Employment trend for the<br />
<strong>Hansgrohe</strong> Group*<br />
3,152<br />
1,091<br />
35%<br />
2,061<br />
65%<br />
3,095<br />
1,071<br />
35%<br />
2,024<br />
65%<br />
3,220<br />
1,083<br />
34%<br />
2,137<br />
66%<br />
3,271<br />
1,139<br />
35%<br />
2,132<br />
65%<br />
2007 2008 2009 <strong>2010</strong> 2011<br />
*<strong>Figures</strong> correct as at December 31<br />
international national<br />
Employees<br />
38<br />
had 2,132 employees working in Germany (<strong>2010</strong>: 2,137).<br />
Accordingly, the number of employees measured in conformity<br />
with the parameters of §§ 1 and 3 of the Co-determination Act<br />
stood at 1,947, slightly below the level of the previous year<br />
(<strong>2010</strong>: 1,970).<br />
In light of the successful performance during the last<br />
financial year, <strong>Hansgrohe</strong> SE again paid a performance bonus<br />
to its workforce in 2011. The record-level bonus of €1.6 million<br />
was paid to the workforce in Germany in two tranches. Including<br />
this year’s special payment, the performance bonus payments<br />
disbursed to employees by the bathroom and sanitation specialist<br />
since 2006 amount to a total of € 7.3 million – this is in addition<br />
to annual leave and Christmas bonus payments and other social<br />
benefits, none of which were cut even during the crisis year of<br />
2009. The high number of job applications received – which grew<br />
by 40 percent, to about 5,200 during the reporting period – also<br />
confirms that <strong>Hansgrohe</strong> is seen as an attractive employer.
Employees<br />
3,271 employees worldwide<br />
2,132 employees in Germany<br />
1,139 employees outside Germany<br />
€1.6 million profit-sharing bonus (2011)<br />
€7.3 million profit-sharing bonus (2006–2011)<br />
39
Talent management<br />
begins at school<br />
For the <strong>Hansgrohe</strong> Group, systematic talent management is<br />
a crucial factor in positioning the Company for continued growth<br />
in times when the shortage of qualified workers is worsening.<br />
The Company has assigned a very high priority to vocational<br />
training for many years now. This is exemplified by a consistently<br />
above-average training quota, which at the beginning of the<br />
training year on September 1, 2011 stood at 6.3 percent, once<br />
again well above the average for the metal-working industry.<br />
Including the 38 young women and men who commenced their<br />
training with <strong>Hansgrohe</strong> during the reporting period, the total<br />
number of trainees climbed to 129.<br />
Training quota 6.3%<br />
These young people are receiving vocational training in<br />
what has now grown into a total of 28 trades – also an aboveaverage<br />
figure, which represents a new record even for<br />
<strong>Hansgrohe</strong>. In cooperation with the dual-studies universities of<br />
the state of Baden-Württemberg, the Company last year added<br />
two training courses in the disciplines of journalism and corporate<br />
communications as well as mechatronics to its expanding<br />
Employees<br />
A great commitment towards our own junior talent:<br />
<strong>Hansgrohe</strong> provides vocational training in 28 trades.<br />
40<br />
training portfolio. <strong>Hansgrohe</strong>’s commitment to training starts well<br />
before the actual beginning of an apprenticeship, however.<br />
Working in close partnership with schools in the region, apprentices<br />
from the “<strong>Hansgrohe</strong> Talent Workshop” and their trainers<br />
provide vocational skills and knowledge directly in the classroom.<br />
129 apprentices<br />
This allows them to convey their first-hand impressions of<br />
the life of an apprentice and the trade they are learning to<br />
young people who may one day be interested in applying for<br />
an apprenticeship. The same goes for vocation-specific events<br />
like the <strong>Hansgrohe</strong> IT Open Days, where apprentices talk to students<br />
about their specific field of work.<br />
28 trades<br />
The fact that the number of applications for an apprenticeship<br />
reached the record level of 849 by December 31, 2011<br />
shows that <strong>Hansgrohe</strong> SE has acquired an outstanding reputation<br />
as a provider of vocational training.
Human resource development –<br />
the learning never stops<br />
The <strong>Hansgrohe</strong> Group considers systematic human resource<br />
development to be a vital part of its talent management. Its purpose<br />
is to allow a substantial proportion of management positions<br />
to be filled from the Company’s own ranks, and to manage<br />
succession processes in a proactive manner. Human resource<br />
development makes an important contribution to the further<br />
development of junior talent, in that it helps these employees<br />
prepare for higher-level responsibilities. Appropriate career<br />
planning also fosters loyalty to the Company in the long run.<br />
The platform for this human resource development effort is the<br />
<strong>Hansgrohe</strong> Business School, the key facility for providing<br />
em ployees with the relevant advanced qualifications as well<br />
as for comprehensive promotion of junior talent. During the<br />
period under review, the <strong>Hansgrohe</strong> Business School organized<br />
and implemented qualification measures totaling 3,181 working<br />
days (<strong>2010</strong>: 2,900). This amounts to an average of 1.5 working<br />
days per employee.<br />
Special attention was paid to the Executive Development<br />
Program, where 23 employees underwent intensive preparations<br />
for their future executive roles during the last financial year. The<br />
Employees<br />
Lifelong learning: The aim of the <strong>Hansgrohe</strong> Business School<br />
is to provide targeted, advanced vocational training<br />
and higher qualifications for the Company’s employees.<br />
41<br />
national and international talent programs, NEP and ITP, continued<br />
in 2011. At the national level, participants from the trade<br />
and technical areas were trained in the fields of general management,<br />
project management, creativity and innovation as well<br />
as in subject areas specific to <strong>Hansgrohe</strong> in preparation for taking<br />
on higher responsibilities. The International Talent Programs (ITP)<br />
was run for a second year in 2011, this time with ten participants<br />
involved. The objective here is to allow the high potentials from<br />
the international <strong>Hansgrohe</strong> subsidiaries to assume greater responsibility<br />
after successfully graduating from the program. In<br />
addition, the Executive Development Program for top managers<br />
from the international locations was continued in 2011. The focus<br />
here is on key <strong>Hansgrohe</strong> strategies and tools, issues involving<br />
staff management and communication, as well as methods for<br />
expanding personal competencies.<br />
3,181 advanced education days
Water science for<br />
junior researchers<br />
To bring children to the subject of “technology” at an early<br />
age and engender their enthusiasm for technical trades – this<br />
is the goal of the Science Days, which were held for the eleventh<br />
time in October 2011, organized jointly by the Europa Park in<br />
Rust and the Förderverein Science und Technology e.V. Parti cipating<br />
for the first time last year was <strong>Hansgrohe</strong> SE, with the<br />
Company presenting itself to the 20,000 young visitors under<br />
the motto “Experiencing water – with all your senses.” The presentation<br />
centered on a large hands-on water world, an exhibit<br />
designed to let children and youths experience the many and<br />
varied aspects of the element water in an immediate manner,<br />
and to show them that there are numerous very exciting jobs<br />
that deal with water intensively and on a daily basis. Participation<br />
was therefore key, whether the subject was the fascinating<br />
world of chemistry or the work done at the <strong>Hansgrohe</strong> fluid<br />
stream research facility. The main protagonists were therefore<br />
the students, guided by the apprentices from the “<strong>Hansgrohe</strong><br />
Talent Workshop” and their trainers, as well as the Company’s<br />
Focus<br />
Fascination with chemistry: In a miniaturized electroplating<br />
set-up, children applied an alloy to fish made of metal.<br />
42<br />
chief chemist Professor Andreas Fath and the head of the<br />
<strong>Hansgrohe</strong> Fluid Stream Research Laboratory, Markus Wöhrle.<br />
There was a great deal to be discovered at the five components<br />
of the <strong>Hansgrohe</strong> stand. The effect of electroplating baths<br />
was demonstrated in a small test set-up where an induced current<br />
caused metal fish to be coated in a nickel or copper alloy. At<br />
the ShowerMobil from the <strong>Hansgrohe</strong> Fluid Stream Laboratory,<br />
the admixture of air into water in the <strong>Hansgrohe</strong> showerheads<br />
produced a rain of big fat droplets which produced a fascinating<br />
spectacle as they passed through the beam of a stroboscopic<br />
spotlight. At the experimentation station, <strong>Hansgrohe</strong> apprentices<br />
helped the kids produce secret ink. In the person of Andreas<br />
Fath, a professor made a special appearance at the stand and<br />
promptly proceeded to coax electricity from lemons, and a colorful<br />
display in water by inducing chemical reactions, and he<br />
showed how lime gets into the water and back out again.
<strong>Hansgrohe</strong> at the Science Days:<br />
Experiments involving water – and lemons.<br />
43<br />
Water researchers at the Science Days: The <strong>Hansgrohe</strong><br />
apprentices with Thomas Hartwein, Markus Wöhrle,<br />
Christian Joos, Richard Grohe and Andreas Fath.<br />
Real-life partnership (right-to-left): Richard Grohe and<br />
Jürgen Mack Managing Director of the Europa Park,<br />
together run an experiment at the test station of the<br />
<strong>Hansgrohe</strong> Fluid Stream Research Laboratory.
Group<br />
Boards<br />
Supervisory Board<br />
Lau Frandsen (Deputy Chairman), Manfred Hübner (Elected Employee<br />
Representative), Stefan Krischak (Elected Employee Representative),<br />
Klaus Grohe (Chairman), Thomas Voss (President Masco Europe S.à.r.l.),<br />
Jerry Volas (Group President, Masco Corp.), left to right<br />
Executive Board<br />
Richard Grohe (Deputy Chairman), Marc Griggel, Frank Semling,<br />
Siegfried Gänßlen (Chairman), left to right<br />
44
In the early months of 2012, the <strong>Hansgrohe</strong> Group remains<br />
set on its growth path. Nevertheless, greater volatility in general<br />
economic conditions and the attendant growing uncertainty among<br />
customers and market partners are increasingly having an impact<br />
on our order receipts – as happened during the fourth quarter of<br />
the last financial year. Thanks to the above-average level of flexibility<br />
we have achieved in recent years and through our consistent<br />
scenario planning efforts, we are well prepared to deal<br />
with the fluctuations in this field, however. The systematic and<br />
tightly integrated analysis of various economic indicators and<br />
internal key figures provide <strong>Hansgrohe</strong> with a proven earlywarning<br />
system that allows us to respond rapidly and flexibly<br />
to both positive and negative changes in trends as they unfold.<br />
We must nevertheless pay attention to the fact that<br />
numerous indicators are pointing toward a further slowdown in<br />
the global economy in 2012, with uncertainty set to increase in<br />
the process. Indeed, we cannot rule out the possibility that the<br />
impact of the European debt and currency crisis could continue<br />
to slow down the economy on the Old Continent and lead to a<br />
recession – all the more so since all the financial support<br />
measures implemented by the governments of the euro countries<br />
have so far failed to improve the situation in the long term in<br />
most of the countries affected. Deutsche Bank therefore projects<br />
a contraction in aggregate economic output in the euro region by<br />
0.5 percent for 2012. Even for the German economy, until now<br />
the engine of growth within the European Union (EU), Germany’s<br />
leading bank now forecasts zero growth in 2012. The extent to<br />
which this downward trend can be offset by growth in the<br />
emerging markets of the BRIC countries and the Next 11 is yet to<br />
be seen. There is some cause for optimism in the fact that the<br />
United States economy is gradually picking up speed and, after<br />
years of crisis, could boost the level of demand. It is becoming<br />
clear that we will increasingly need to adapt to widely differing<br />
growth rates – even within the same economic zone. In addition<br />
to our contingency planning, which proved so valuable during<br />
the crisis year of 2009, we will therefore closely monitor the<br />
developments in individual markets and regions, so that we will<br />
be in a position to implement any measures that may be<br />
required to ensure growth and safeguard our earnings position.<br />
Group<br />
Outlook<br />
Volatility is the new norm<br />
45<br />
The fact is that increasing volatility has become the new<br />
norm. The challenge for the <strong>Hansgrohe</strong> Group in this situation<br />
will be to generate profitable long-term growth together with<br />
our partners and our customers. Thanks to our long-term strategy,<br />
we see ourselves as being well positioned to just that, and<br />
our aim is therefore to run the Company consistently in accordance<br />
with that strategy. This entails further globalization of our<br />
marketing and, accordingly, the continued development of our<br />
organizational structures. The basis for doing so is already in<br />
place in the form of our intelligent cost management structure<br />
which, through systematic improvements in efficiency, opens up<br />
additional scope for investments in growth areas. In addition to<br />
the systematic development of new markets and the expansion<br />
of our production and logistics capacities, such measures include<br />
the strengthening of our brand recognition and of our power of<br />
innovation. As long as we ensure that our innovations are consistently<br />
aimed at increasing the benefit to the customer, we are<br />
bound to further improve our global competitiveness and hence<br />
our market position. To this end, and in the run-up to the ISH<br />
2013, preparations are already under way for numerous innovative<br />
products as well as new concepts and approaches to<br />
solutions, and these will be presented starting in the late summer<br />
of 2012.<br />
Following the change to its legal form from a German stock<br />
corporation to a Societas Europaea (SE), a European company,<br />
which was completed in March 2012, the Company has taken<br />
steps to support the further internationalization of its business. It<br />
provides us with the best possible platform to continue to pursue<br />
our internationalization strategy and generate long-term growth.<br />
All in all, we are confident that, despite the uncertain and<br />
volatile economic conditions, together with our customers and<br />
our partners we will succeed in generating modest growth and<br />
stable earnings in 2012. Our sights are firmly set on the billion<br />
euro mark as our medium-term revenue target.
Assets in € k<br />
A. Fixed assets<br />
I. Intangible assets<br />
II. Tangible assets<br />
III. Financial assets<br />
B. Current assets<br />
I. Inventories<br />
1. Raw materials and supplies<br />
2. Semi-finished goods<br />
3. Finished goods and merchandise goods<br />
II. Accounts receivable<br />
and other assets<br />
1. Accounts receivable for goods and services<br />
2. Accounts receivable from affiliated companies<br />
3. Other assets<br />
III. Cash and<br />
cash equivalents<br />
Total current assets<br />
C. Deferred charges and prepaid taxes<br />
1. Debt discount<br />
2. Prepaid expenses<br />
D. Deferred taxes<br />
E. Debit due to netting of assets<br />
assigned to accruals<br />
Group figures<br />
<strong>Hansgrohe</strong> Group<br />
Balance Sheet<br />
46<br />
Dec. 31, <strong>2010</strong><br />
4,397<br />
113,327<br />
1,530<br />
119,254<br />
24,762<br />
17,178<br />
44,947<br />
86,887<br />
75,532<br />
508<br />
13,789<br />
89,829<br />
319,687<br />
496,404<br />
26<br />
2,709<br />
2,735<br />
2,844<br />
154<br />
621,391<br />
Dec. 31, 2 011<br />
5,985<br />
122, 591<br />
1,299<br />
129,875<br />
29,799<br />
19,199<br />
49,831<br />
98,829<br />
75,317<br />
406<br />
13,576<br />
89,299<br />
364,053<br />
552,181<br />
20<br />
2,662<br />
2,682<br />
3,270<br />
156<br />
688,164
Total equity and liabilities, in € k<br />
A. Shareholders’ equity<br />
I. Subscribed capital<br />
II. Capital reserves<br />
III. Retained earnings<br />
IV. Net income<br />
Total shareholders’ equity<br />
B. Accruals<br />
1. Pensions reserves<br />
2. Accrued taxes<br />
3. Other reserves and accrued liabilities<br />
C. Liabilities<br />
1. Liabilities to financial institutions<br />
2. Accounts payable, trade<br />
3. Accounts payable due to affiliated companies<br />
4. Loans from support fund<br />
5. Other liabilities<br />
D. Deferred items<br />
Group figures<br />
<strong>Hansgrohe</strong> Group<br />
Balance Sheet<br />
47<br />
Dec. 31, <strong>2010</strong><br />
61,156<br />
11, 735<br />
245,888<br />
93,782<br />
412,560<br />
40,641<br />
13,806<br />
63,899<br />
118,346<br />
7,518<br />
39,295<br />
4,885<br />
42<br />
38,730<br />
90,470<br />
15<br />
621,391<br />
Dec. 31, 2 011<br />
61,156<br />
11, 735<br />
297,440<br />
90,407<br />
460,738<br />
43,336<br />
18,562<br />
60,818<br />
122,716<br />
6,021<br />
53,222<br />
4,014<br />
28<br />
41,410<br />
104,695<br />
15<br />
688,164
Germany<br />
Subsidiaries<br />
Exports<br />
Net sales<br />
Total performance<br />
Cost of materials<br />
Personnel expenses<br />
Other operating expenses<br />
EBITDA<br />
in % of net sales<br />
Depreciation of fixed assets<br />
EBIT (operating profit)<br />
in % of net sales<br />
Financial results<br />
Result from ordinary activities<br />
in % of net sales<br />
Extraordinary result<br />
Group figures<br />
<strong>Hansgrohe</strong> Group<br />
Consolidated Statement of Income in € k<br />
Income taxes<br />
Net Income<br />
in % of net sales<br />
48<br />
<strong>2010</strong><br />
154,020<br />
410,020<br />
129,065<br />
2 011<br />
175,838<br />
431,304<br />
157,011<br />
693,105 764,153<br />
720,379 787,733<br />
265,986 311,903<br />
157,015 162,795<br />
143,711 156,034<br />
153,667<br />
22.2<br />
157.002<br />
20.5<br />
24,598 28,430<br />
129.070<br />
18,6<br />
129.649<br />
18,7<br />
128.572<br />
16,8<br />
580 2.414<br />
130.986<br />
17,1<br />
284 (659)<br />
(36.151) (39.920)<br />
93.782<br />
13,5<br />
90.407<br />
11,8
Results<br />
Net sales<br />
> from foreign sales<br />
Total performance<br />
EBITDA<br />
> in % of net sales<br />
EBIT<br />
> in % of net sales<br />
Result from ordinary activities (EBT)<br />
> in % of net sales<br />
Net income<br />
> in % of net sales<br />
> Depreciation (incl. goodwill)<br />
> Change in (pension) reserves<br />
> Change in special items<br />
Cash flow<br />
> in % of net sales<br />
Cost of materials<br />
> in % of total performance<br />
Balance sheet total<br />
Capital employed (CE)<br />
Return on CE (ROCE)<br />
Gross investments in fixed assets<br />
Employees<br />
Employees according to § 267 (5) of HGB<br />
(German Commercial Code)<br />
(average of the last 4 quarters<br />
incl. apprentices)<br />
Personnel expenses<br />
Productivity<br />
Group figures<br />
<strong>Hansgrohe</strong> Group<br />
Key figures 2007 – 2011<br />
€ m<br />
%<br />
€ m<br />
€ m<br />
%<br />
€ m<br />
%<br />
€ m<br />
%<br />
€ m<br />
%<br />
€ m<br />
€ m<br />
€ m<br />
€ m<br />
%<br />
€ m<br />
%<br />
€ m<br />
€ m<br />
%<br />
€ m<br />
persons<br />
€ m<br />
Factor<br />
49<br />
2007 2008 2009 <strong>2010</strong><br />
660.5<br />
78.8<br />
667.8<br />
79.5<br />
610.4<br />
77.0<br />
693,1<br />
77.8<br />
682.0 670.0 635.5 720.4<br />
130.7<br />
19.8<br />
110,5<br />
16.7<br />
112.4<br />
17.0<br />
73.7<br />
11.2<br />
20.1<br />
1.4<br />
0.0<br />
95.2<br />
14.4<br />
271.3<br />
39.8<br />
458.5<br />
426.5<br />
26.2<br />
23.9<br />
3,176<br />
142.2<br />
2.888<br />
131.4<br />
19.7<br />
109,9<br />
16.5<br />
114.0<br />
17.1<br />
78.3<br />
11. 7<br />
21.5<br />
2.1<br />
0.0<br />
101.9<br />
15.3<br />
238.2<br />
35.6<br />
475.3<br />
445.9<br />
24.5<br />
30.8<br />
3,184<br />
147.7<br />
2.923<br />
139.5<br />
22.9<br />
114,6<br />
18.8<br />
115.5<br />
18.9<br />
81.9<br />
13.4<br />
24.9<br />
2.4<br />
0.0<br />
109.2<br />
17.9<br />
219.8<br />
34.6<br />
533.6<br />
500.0<br />
22.9<br />
23.9<br />
3,092<br />
148.1<br />
2.808<br />
153.7<br />
22.2<br />
129,1<br />
18.6<br />
129.6<br />
18.7<br />
93.8<br />
13.5<br />
24.6<br />
2.7<br />
0.0<br />
121.1<br />
17.5<br />
266.0<br />
36.9<br />
621.4<br />
574.2<br />
22.5<br />
28.8<br />
3,129<br />
157.0<br />
2.894<br />
2 011<br />
764.2<br />
77.0<br />
787.7<br />
157.0<br />
20.5<br />
128,6<br />
16.8<br />
131.0<br />
17.1<br />
90.4<br />
11.8<br />
28.4<br />
2.7<br />
0.0<br />
121.5<br />
15.9<br />
311.9<br />
39.6<br />
688.2<br />
627.5<br />
20.5<br />
39.9<br />
3,192<br />
162.8<br />
2.923
Locations<br />
The World of<br />
<strong>Hansgrohe</strong><br />
Publisher <strong>Hansgrohe</strong> SE, Public Relations, P. O. Box 1145, 77757 Schiltach, Tel. + 49 7836 51 1231, Fax + 49 7836 51 1170, Email: public.relations@hansgrohe.com<br />
Concept & Editorial Dr. Carsten Tessmer Design & Production Kolle Rebbe GmbH, Hamburg Printing Straub Druck, Schramberg Photos Tom Abraham<br />
Photography, abudhabi.capitalgate.hyatt.com, Barceló Harrogate Majestic Hotel, Andrew Beu, Braxart.de, Jimmy Delpire, www.donbass-arena.com, Klaus Frahm,<br />
gerryoleary.com, Serge Guerand, Havenhostel Bremerhaven, Thomas Ibsen, Klaus Kramer, Kuhnle & Knödler, Uli Maier, Oleg March, Sandton Hotels/Van de Walle<br />
Bouwgroep, www.satishphotography.com, Stuart Scott, Lutz Sternstein www.lutzsternstein.com, Tim Vanhoutte, Jonas von der Hude, www.wtaipei.com, Michel Zoeter<br />
<strong>Facts</strong> & <strong>Figures</strong> 2011 is available in German and English. It is available for download from the Internet at hansgrohe.com<br />
50
<strong>Hansgrohe</strong> SE<br />
Auestraße 5–9<br />
77761 Schiltach<br />
Tel.: +49 7836 51 0<br />
Fax: +49 7836 51 1300<br />
info@hansgrohe.com<br />
www.hansgrohe.com<br />
Argentina<br />
<strong>Hansgrohe</strong> S. A.<br />
Av. del Libertador 14323<br />
B1640APB Martínez<br />
Buenos Aires<br />
Tel.: +54 11 4733 2400<br />
Fax: +54 11 4733 2499<br />
info@hansgrohe.com.ar<br />
www.hansgrohe.com.ar<br />
Australia<br />
<strong>Hansgrohe</strong> Pty Ltd<br />
Level 1, 123 Camberwell Rd,<br />
East Hawthorn, 3123 Victoria<br />
Tel.: +61 3 9811 9971<br />
Fax: +61 3 9804 0042<br />
info@hansgrohe.com.au<br />
www.hansgrohe.com.au<br />
Austria<br />
<strong>Hansgrohe</strong> Handelsges. mbH<br />
Sanitärtechnische Produkte<br />
Industriezentrum<br />
N. Ö.–Süd Straße 2d/M18<br />
2355 Wiener Neudorf<br />
Tel.: +43 223 66 28 30<br />
Fax: +43 223 66 19 05<br />
info@hansgrohe.at<br />
www.hansgrohe.at<br />
Belgium<br />
<strong>Hansgrohe</strong> SA<br />
Riverside, Business Park<br />
Internationelaan, 55 K<br />
1070 Anderlecht<br />
Tel.: +32 2 543 01 40<br />
Fax: +32 2 537 94 86<br />
info@hansgrohe.be<br />
www.hansgrohe.be<br />
Brazil<br />
<strong>Hansgrohe</strong> Brasil<br />
Alameda Joaquim Eugênio<br />
de Lima, 61<br />
Bela Vista, 01403-001<br />
São Paulo, SP<br />
Tel.: +55 11 3149 7070<br />
info@hansgrohe.com.br<br />
www.hansgrohe.com.br<br />
China<br />
<strong>Hansgrohe</strong> Sanitary Products<br />
(Shanghai) Co., Ltd.<br />
No. 2999 Shenggang Road<br />
201612 Songjiang<br />
Industrial Zone (East) Shanghai<br />
Tel.: +86 21 3774 2200<br />
Fax: +86 21 3774 2202<br />
info@hansgrohe.com.cn<br />
www.hansgrohe.com.cn<br />
Croatia<br />
<strong>Hansgrohe</strong> d.o.o.<br />
Horvatova 82, 10000 Zagreb<br />
Tel.: +385 1 5630 800<br />
Fax: +385 1 5630 899<br />
info@hansgrohe.hr<br />
www.hansgrohe.hr<br />
Czech Republic<br />
<strong>Hansgrohe</strong> CS s.r.o.<br />
Dornych 47, 617 00 Brno<br />
Tel.: +42 05 11 12 05 50<br />
Fax: +42 05 11 12 05 99<br />
info@hansgrohe.cz<br />
www.hansgrohe.cz<br />
Denmark<br />
<strong>Hansgrohe</strong> A/S<br />
Jegstrupvej 6, 8361 Hasselager<br />
Tel.: +45 86 28 74 00<br />
Fax: +45 86 28 74 01<br />
info@hansgrohe.dk<br />
www.hansgrohe.dk<br />
Finland<br />
<strong>Hansgrohe</strong> SE<br />
Kavallinmäki 15, 02710 Espoo<br />
Tel.: +358 20 7931340<br />
Fax: +358 20 7931349<br />
info@hansgrohe.fi<br />
www.hansgrohe.fi<br />
France<br />
<strong>Hansgrohe</strong> S. A.<br />
Parc d’activités les Pins<br />
67130 Wasselonne<br />
Tel.: +33 3 88 04 21 60<br />
Fax: +33 3 88 04 21 61<br />
info@hansgrohe.fr<br />
www.hansgrohe.fr<br />
<strong>Hansgrohe</strong> S.à.r.l.<br />
Parc de Haute<br />
Technologie<br />
27, rue Georges Besse<br />
92182 Antony Cedex<br />
Tel.: +33 1 46 11 45 00<br />
Fax: +33 1 46 11 45 39<br />
contact-fr@hansgrohe.com<br />
www.hansgrohe.fr<br />
Germany<br />
<strong>Hansgrohe</strong> Deutschland<br />
Vertriebs GmbH<br />
Auestraße 5–9<br />
77761 Schiltach<br />
Tel.: +49 7836 51 0<br />
Fax: +49 7836 51 1141<br />
info@hansgrohe.de<br />
www.hansgrohe.de<br />
Hungary<br />
<strong>Hansgrohe</strong> Kft.<br />
Forgách utca 11–13<br />
1139 Budapest<br />
Tel.: +36 1 236 9090<br />
Fax: +36 1 236 9098<br />
info@hansgrohe.hu<br />
www.hansgrohe.hu<br />
India<br />
<strong>Hansgrohe</strong> India (pvt.) Ltd.<br />
Office Nos. 601–604<br />
Sky Station, Viman Nagar<br />
411016 Pune, Maharashtra<br />
Tel.: +91 20 6625 9596<br />
Fax: +91 20 6625 9599<br />
info@hansgrohe.in<br />
www.hansgrohe.in<br />
Italy<br />
<strong>Hansgrohe</strong> S.r.l.<br />
S.S. 10 km, 24,4<br />
14019 Villanova d’Asti (AT)<br />
Tel.: +39 0141 93 11 11<br />
Fax: +39 0141 94 65 94<br />
info@hansgrohe.it<br />
www.hansgrohe.it<br />
Locations<br />
Japan<br />
<strong>Hansgrohe</strong> Japan K.K.<br />
Ono Group Bldg. 6F<br />
2-15-21 Takanawa Minato-ku<br />
1080074 Tokyo<br />
Tel.: +81 3 5424 1950<br />
Fax: +81 3 3449 9651<br />
info@hansgrohe.co.jp<br />
www.hansgrohe.co.jp<br />
Kazakhstan<br />
<strong>Hansgrohe</strong> SE<br />
Nauryzbai Batyr street 1<br />
part A3, Microdistrict “Keremet”<br />
50013 Almaty city<br />
Tel.: +7 727 3150916<br />
Fax: +7 727 3150917<br />
info@hansgrohe.kz<br />
www.hansgrohe.kz<br />
Malaysia<br />
Penthouse (Level 27)<br />
Centrepoint South<br />
The Boulevard, Mid Valley City<br />
Lingkaran Syed Putra<br />
59200 Kuala Lumpur<br />
Tel.: +603 2096 9581/9582<br />
Fax: +603 2096 9782<br />
info@hansgrohe.com.sg<br />
www.hansgrohe.com.sg<br />
Mexico<br />
<strong>Hansgrohe</strong> S. de R.L. de C.V.<br />
German Centre, 0-2-02<br />
Av. Sante Fe #170<br />
Col. Lomas de Santa Fe<br />
01210 México, D.F.<br />
Tel.: +52 55 5261 4191<br />
Fax: +52 55 5261 4199<br />
info@hansgrohe.com.mx<br />
www.hansgrohe.com.mx<br />
Middle East & Africa<br />
<strong>Hansgrohe</strong> Middle East &<br />
Africa Ltd.<br />
Artemisia Business Center<br />
Of fice 20114<br />
Charalambou Mouskou<br />
2015 Strovolos, Nicosia<br />
Tel.: +357 22 441 370<br />
Fax: +357 22 441 374<br />
nicosia@hansgrohe.com<br />
www.hansgrohe-int.com<br />
The Netherlands<br />
Cleopatra BV<br />
Handelsweg 45<br />
1525 RG Westknollendam<br />
Tel.: +31 75 647 82 00<br />
Fax: +31 75 647 85 00<br />
info@cleopatra.nl<br />
www.cleopatra.nl<br />
<strong>Hansgrohe</strong> BV<br />
Handelsweg 45<br />
1525 RG Westknollendam<br />
Tel.: +31 75 646 1400<br />
Fax: +31 75 646 1700<br />
info@hansgrohe.nl<br />
www.hansgrohe.nl<br />
Norway<br />
<strong>Hansgrohe</strong> Salgskontar A/S<br />
Åsveien 2, 3475 Sætre<br />
Tel.: +47 32 79 54 00<br />
Fax: +47 32 79 54 01<br />
info@hansgrohe.no<br />
www.hansgrohe.no<br />
Poland<br />
<strong>Hansgrohe</strong> Sp.zo.o.<br />
ul. Sowia 12<br />
62080 Tarnowo<br />
Podgórne<br />
Tel.: +48 61 816 86 02<br />
Fax: +48 61 816 86 09<br />
info@hansgrohe.pl<br />
www.hansgrohe.pl<br />
Russia<br />
<strong>Hansgrohe</strong> O.O.O.<br />
Semenovskaya Square 1A<br />
Business-Center<br />
“Sokolinaya Gora”, 21st flor<br />
107023 Moskau<br />
Tel.: +7 495 647 07 35<br />
Fax: +7 495 647 07 45<br />
info@hansgrohe.ru<br />
www.hansgrohe.ru<br />
Sweden<br />
<strong>Hansgrohe</strong> AB<br />
Ridspögatan 10<br />
21377 Malmø<br />
Tel.: +46 40 51 91 50<br />
Fax: +46 40 13 05 92<br />
info@hansgrohe.se<br />
www.hansgrohe.se<br />
Switzerland<br />
<strong>Hansgrohe</strong> AG<br />
Industriestrasse 9<br />
5432 Neuenhof<br />
Tel.: +41 56 416 26 26<br />
Fax: +41 56 416 26 27<br />
info@hansgrohe.ch<br />
www.hansgrohe.ch<br />
Singapore<br />
<strong>Hansgrohe</strong> Pte. Ltd.<br />
69 Mohamed Sultan Road<br />
239015 Singapore<br />
Tel.: +65 6884 5060<br />
Fax: +65 6884 5070<br />
info@hansgrohe.com.sg<br />
www.hansgrohe.com.sg<br />
Slovak Republic<br />
<strong>Hansgrohe</strong> CS s.r.o.,<br />
organizacna zlozka<br />
Priemyselná 1/A<br />
821 08 Bratislava<br />
Tel.: +42 05 11 12 05 50<br />
Fax: +42 05 11 12 05 99<br />
info@hansgrohe.sk<br />
www.hansgrohe.sk<br />
Spain<br />
<strong>Hansgrohe</strong> S. A.<br />
Riera Can Pahissa, 26 B<br />
08750 Molins de Rei<br />
Tel.: +34 93 680 39 00<br />
Fax: +34 93 680 39 09<br />
info@hansgrohe.es<br />
www.hansgrohe.es<br />
South Africa<br />
<strong>Hansgrohe</strong> South Africa<br />
Pty Ltd, P.O. Box 2912,<br />
136 Walton Road,<br />
Carlswald Midrand<br />
1685 Halfway House/<br />
Johannesburg<br />
Tel.: +27 11 468 11 50<br />
Fax: +27 11 468 11 52<br />
sales@hansgrohe.co.za<br />
www.hansgrohe.co.za<br />
South Korea<br />
No. 931 Hyundai Parisian<br />
907-10 Mok-dong<br />
Yangcheon-gu<br />
Seoul 158-050<br />
Tel.: +82 2 2061 1900<br />
Fax: +82 2 2061 1901<br />
info@hansgrohe.com.sg<br />
www.hansgrohe.com.sg<br />
Taiwan<br />
No. 25 4F Suite 620<br />
Sec. 1 Dun Hua S. Road,<br />
Taipei, Taiwan R.O.C.<br />
Tel.: +886 2 2570 1820<br />
info@hansgrohe.com.sg<br />
www.hansgrohe.com.sg<br />
Ukraine<br />
<strong>Hansgrohe</strong> Ukrainian Office<br />
ul. Ilinskaja, Block 8<br />
04070 Kiev<br />
Tel.: +38 44 392 2040<br />
Fax: +38 44 392 2069<br />
info@hansgrohe.ua<br />
www.hansgrohe.ua<br />
United Arab Emirates<br />
<strong>Hansgrohe</strong> SE<br />
Regional Office Dubai<br />
Holiday Centre –<br />
Commercial Tower, No. 1203,<br />
12 th Floor, Sheikh Zayed Road<br />
AE – P.O. Box<br />
34216 Dubai UAE<br />
Tel.: +971 4 332 6565<br />
Fax: +971 4 331 0065<br />
nicosia@hansgrohe.com<br />
www.hansgrohe-int.com<br />
<strong>Hansgrohe</strong> SE, Abu Dhabi<br />
Marina Office Park, Breakwater<br />
Villa B02, P.O. Box 42345<br />
Abu Dhabi UAE<br />
Tel.: +971 2 419 2400<br />
Fax: +971 2 419 2499<br />
nicosia@hansgrohe.com<br />
www.hansgrohe-int.com<br />
United Kingdom<br />
<strong>Hansgrohe</strong> Limited<br />
Units D1 and D2, Sandown Park<br />
Trading Estate, Royal Mills<br />
Esher, Surrey, KT10 8BL<br />
Tel.: +44 1372 465 655<br />
Fax: +44 1372 470 670<br />
enquiries@hansgrohe.co.uk<br />
www.hansgrohe.co.uk<br />
USA<br />
<strong>Hansgrohe</strong> Inc.<br />
1490 Bluegrass Lakes Parkway<br />
30004 Alpharetta, GA<br />
Tel.: +1 770 360 98 80<br />
Fax: +1 770 360 98 87<br />
info@hansgrohe-usa.com<br />
www.hansgrohe-usa.com<br />
Axor NYC Design Studio<br />
29 Ninth Avenue<br />
New York, NY 10014<br />
Tel.: +1 212 463 57 90<br />
axornyc@hansgrohe.com
Print kompensiert<br />
Id-Nr. 1110275<br />
www.bvdm-online.de<br />
Official Supplier of the<br />
German Olympic Team.<br />
London 2012<br />
www.facebook.com/hansgrohe<br />
www.facebook.com/axor.design<br />
www.twitter.com/hansgrohe_pr<br />
<strong>Hansgrohe</strong> SE · P. O. Box 1145 · D-77757 Schiltach · Phone +49 7836 51 - 0<br />
Fax + 49 7836 51 - 1300 · info@hansgrohe.com · hansgrohe.com<br />
HG <strong>Facts</strong> & <strong>Figures</strong> 2011 en · Subject to technical changes and variations in color<br />
for printing reasons · Form-Nr. 84 090 353 · 04/12/2.1 · Printed in Germany ·<br />
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