Financial statement of the year 2008: Still investing despite the crisis

(31/03/2009) In 2008, the international Häfele Group for hardware technology and electronic locking systems with its 33 foreign subsidiaries increased its revenue by 0.7% to € 815 million (€ 810 million in the previous year). In exchange rate adjusted terms, the growth was around € 45 million, or 5.6%. Häfele increased its revenue in Germany by 6.3%. In the export trade and for some of its foreign subsidiaries, the global economic crisis and the fluctuations in exchange rates have had a clear, negative impact. 73% of Group revenue is produced outside Germany.

The company is a world leading service provider and supplier to the building trade, and a strong partner for the furniture industry, architects, property developers and designers.
Last year, Häfele also invested in expanding logistics and sales at its headquarters in Germany and abroad. In 2009, the Group plans to invest
€ 45 million, € 25 million of which it plans to invest in its foreign subsidiaries.
Its number of employees worldwide has increased by 350 to 4435, of which 1379 are employed in Germany. The parent company in Nagold has employed 84 new members of staff.
In the face of the ongoing global economic crisis and fluctuating exchange rates it is difficult to make a forecast for 2009. At Häfele, we are expecting modest growth this year, if any at all.
Häfele is also continuing to develop foreign markets this year, as demonstrated by its plans to create a new subsidiary in the Ukraine.