2021 Financial Report: Häfele sees 22 percent increase in revenue
Success in spite of supply chain challenges
Archdale, North Carolina, USA, February 15, 2022 – The international Häfele Group, specialists in hardware fittings, electronic access control systems and lighting for furniture and rooms, saw its revenue increase by 22 % in 2021 to 1.7 BN Euro. Headquartered in Nagold, Germany with 38 subsidiaries worldwide, the company saw particularly noteworthy performance in North America, Southern Europe, the United Kingdom, India and China, all of which made above-average contributions to growth.
Rebounding from a 7.3 % decline in revenue from the previous year, Häfele’s annual revenue growth of 308 MM Euro in 2021 allowed it to even out the 2020 dent, giving the international group the stability needed for growth, in spite of the continued challenges faced during another crisis-ridden year of the Coronavirus pandemic.
It’s clear that Häfele’s logistical strengths and dynamic warehousing strategies created a foundation for ensuring the growth witnessed in 2021. Häfele has successfully defied the challenges in its supply chain, a result of early decisions to increase its global stock levels by 20%.
|“Nevertheless, some products are impeded due to a lack of raw materials and transport capacities. In view of the situation, we are consulting very closely with customers and suppliers to optimize supply and demand and our “just-in-time” cycles. Figuratively speaking, we are nevertheless still repeatedly finding ourselves in something of an advanced juggling act,” is how Häfele Worldwide CEO, Sibylle Thierer, describes the current situation.|
Although Häfele remains impacted by the difficulties experienced by its European and Asian suppliers, the Group continues to respond quickly and dynamically to these adversities presented by the pandemic, allowing operations to continue uninterrupted.
Outlook 2022: Carving the path to continued success
In preparation of its 100th birthday in 2023, the Häfele Group has ambitious plans to invest in strengthening productivity in 2022 with the construction of a new Häfele Dynamics Center at its base in Nagold, Germany. This expansion is about defining Häfele’s place in the world and preparing for the next chapter of the company’s history when it will join an exclusive club of only 2% of German family-owned and -operated businesses to reach 100 years in business. It’s also about using cutting-edge technology to create new transparent logistics that all Häfele customers can experience, and will mean faster, better customized processing and delivery of orders worldwide.
“Häfele has deep roots here. It was from here that we developed from a regional business into a German-wide operation, before going international in the 1960s. Within today’s furniture industry, Häfele is seen as a guaranteed seal of the benchmark of German quality – and “Made in Nagold” has become something of a gold standard. And we want to keep it that way for the future,” said Thierer.