ELECTROSTAR Group again achieves record turnover
Group sales increased to 69 million euros in 2022
Stuttgart/Ebersbach, 14.09.2023 – After ELECTROSTAR/starmix already achieved record sales of 63.5 million euros in 2021, the trend continues in 2022. The sales of the group of companies were increased once again, to around 69 million euros, despite major challenges.
Source: ELECTROSTAR GmbH
"With 2022, we have achieved the highest sales in the group's history despite the most challenging conditions," says Roman Gorovoy, Managing Director of ELECTROSTAR/starmix. This is because the sharp market slowdown in the second half of the year and rising inflation in particular caused problems for the company, especially on the profit side: "It was not realistic to pass on the increased costs in full by raising prices. Added to this were the high energy costs, which in our case more than doubled. We clearly felt these extreme burdens in our margins and overall profit," says Gorovoy. "At our main site in Ebersbach, we were able to maintain the previous year's strong sales despite all adversities. We achieved growth in the Group through the good development of the ODM business at our site in Shanghai."
Expectations for the current fiscal year 2023 are subdued: "For this year, we expect a decline in sales due to the generally weakening markets. Added to this are the unchanged problems of the shortage of skilled workers and the high location and energy costs in Germany," says Gorovoy.
Investment plans and internationalization
Despite the general weakening of the market situation, ELECTROSTAR/starmix is sticking to its investment plans. "In the current market situation, there is only one viable strategy: to question all costs, to slim down to the maximum and thus maintain the possibility to continue core projects. Our way is to stick to investment and innovation projects, while at the same time breaking new ground", Roman Gorovoy shows his determination to maintain the business strategy despite all adversities. One concrete measure in this regard is the opening of a new site in Nýřany, Czech Republic. "We are committed to our sites in Germany and Shanghai without any ifs or buts, but in view of developments in Germany as a business location and possible political risks in China, we need to open new branches in order to remain capable of acting," says Roman Gorovoy.
Despite the general weakening of the market situation, ELECTROSTAR/starmix is sticking to its investment plans. "In the current market situation, there is only one viable strategy: to question all costs, to slim down to the maximum and thus maintain the possibility to continue core projects. Our way is to stick to investment and innovation projects, while at the same time breaking new ground", Roman Gorovoy shows his determination to maintain the business strategy despite all adversities. One concrete measure in this regard is the opening of a new site in Nýřany, Czech Republic. "We are committed to our sites in Germany and Shanghai without any ifs or buts, but in view of developments in Germany as a business location and possible political risks in China, we need to open new branches in order to remain capable of acting," says Roman Gorovoy.
It is still the declared goal to achieve the sales mark of 100 million euros in 2025. To achieve this, the development of new sales markets is also on the agenda. "Internationalization is an immanent part of the corporate strategy for the coming years. So far, we have been strongly focused on the European market, but the USA and the Asia-Pacific region also offer enormous sales potential, which we want to gradually tap into," says Roman Gorovoy.
About ELECTROSTAR GmbH/starmix ELECTROSTAR/starmix – a piece of German industrial history that continues with great success in the 21st century. The industrious Swabians invented the hot air hand dryer and achieved world renown with the starmix kitchen machine. Today, ELECTROSTAR GmbH, which has been part of the Algo Group since 2007, stands for innovative technologies, superior quality and an uncompromising customer focus. The company sells a wide range of powerful vacuums for trade, commerce and industry, modern warm air and high-speed hand and hair dryers worldwide and has an extensive hospitality product range. Since the acquisition of Haaga Kehrsysteme GmbH in 2012, innovative sweepers have also been part of the product range. In 2020, ELECTROSTAR/starmix and Haaga Kehrsysteme merged. In 2021, the merger with PRODUCTEERS took place under the umbrella of ELECTROSTAR. The group of companies employs around 300 people at its sites in Ebersbach and Shanghai and achieved a consolidated turnover of around 69 million euros in 2022.
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Philipp Nisster echolot pr GmbH & Co. KG Waldburgstraße 17-19 70563 Stuttgart Fon: +49 159 01929655 nisster@echolot-pr.de www.echolot-pr.de | |
Fr. Gwendi Harer Electrostar GmbH Hans-Zinser Str. 1-3 73061 Ebersbach Fon: +49 7163 9988-011 gwendi.harer@starmix.de www.starmix.de |