Double-digit revenue increase for ELECTROSTAR
With its vacuum cleaners, hand dryers and hairdryers ELECTROSTAR managed to double its revenue growth from 2016. While the increase at that time stood at 1.45 million euro, the company registered a value of 3.5 million euro over the past year. Sister company Haaga also demonstrated a positive development in 2017. The sweeper manufacturer closed with solid growth of 6 percent at 6.25 million euro. After a record year in 2016, when Haaga increased its revenue by almost 30 percent, from a management perspective this result falls perfectly within the scope of strategic planning. ELECTROSTAR and Haaga thus generated a joint turnover of 40.25 million euro.
“The current figures show that we are on the right track with our 2013-adopted strategy of ‘profitable growth through a customer-oriented organisation”, says Roman Gorovoy. “With regard to our aim to generate a group turnover of 50 million euro by 2021, the outstanding result from the previous year represents a double bonus for us.”
The growth stemmed from the successful development of the specialist distributor network in Germany, growth in other European countries, as well as the expansion of sales activities in the United States. Diverse product innovations in the vacuum cleaner and hand dryer sector laid the foundations for the good result.
The relaunch offensive in the sanitary branch, as well as other new products in the vacuum cleaner and sweeper segments should continue the upward trend this year. Roman Gorovoy and the Algo Group, to which ELECTROSTAR and Haaga belong, want to merge the sister companies over the next two years and unite at one joint location. The company wants to generate further positive growth effects from the resulting (and increasingly closer) synergies between both brands.
Über die ELECTROSTAR/starmix
ELECTROSTAR/starmix – a piece of German industrial history that continues with great success in the 21st century. The diligent Swabian company began manufacturing vacuum cleaners in 1921 and four years later invented the warm-air hand dryer. starmix gained an international standing during the economic boom: the universal starmix food processor was a bestseller found in any good household. Today ELECTROSTAR GmbH, which was acquired by Algo in 2007, represents innovative technology, exceptional quality and uncompromising customer focus. Under the starmix brand the company develops, produces and sells a wide range of high-performance vacuum cleaners to global trade, commerce and industry. The starmix sanitary branch manufactures modern warm-air and high-speed hand dryers, as well as hairdryers, and sells these worldwide. Since the acquisition of Haaga Kehrsysteme GmbH in 2012, the product range has also included innovative sweepers. The company employs around 150 personnel at its locations in Reichenbach/Fils and Kirchheim unter Teck. Both brands, starmix and Haaga, generated a turnover of around 40 million euro in 2017.
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