Duravit posts outstanding results in 2019
The German bathroom multinational reports 4.8% revenue growth in 2019 and appoints Stephan Tahy as its new CEO.
Despite the low global economic growth, Duravit posted record sales, operating profit and net income in 2019. Total revenues rose to 486.8 million euros, 4.8% up on 2018, while net profit increased by more than 20%. The German bathroom multinational not only consolidated its position in the German domestic market, but also achieved good results in China (+20%, the country with the highest revenue growth), Egypt and Europe, with above average increases in Switzerland and Spain. Continued profitability and a solid balance sheet have put the company in an ideal position to continue its successful progress once the Covid-19 pandemic is over.
The group’s main growth driver remains the combination of technology and design in all product categories: ceramic sanitaryware, bathroom furniture, bathtubs and shower trays, wellness systems, electronic toilet seats, taps and accessories, and now also wall mounted modules. All divisions contributed to the strong results of 2019, including the private label sector, which although accounting for less than 2% of overall revenues made a positive contribution to the development of key business relationships.
With its two centuries of history (it was founded in 1817), today Duravit is present in 130 countries and stands out among leading international bathroom design brands thanks to its collaborations with designers such as Philippe Starck, sieger design, Kurt Merki Jr., Christian Werner, Matteo Thun and Cecilie Manz.
2020 has also seen a change in the German multinational’s top management. On 1 July 2020, Stephan Patrick Tahy (pictured) took over as CEO from Frank Richter. During his career, Tahy (54) has served as CEO of De’Longhi GmbH Germany and as Vice President and General Manager at Mattel Inc.