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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


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<strong>Hansgrohe</strong> SE · P. O. Box 1145 · D-77757 Schiltach · Phone +49 7836 51 - 0<br />

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HG <strong>Facts</strong> & <strong>Figures</strong> 2011 en · Subject to technical changes and variations in color<br />

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