Haier Smart Home releases latest financial results
Haier Smart Home releases latest financial results The Company achieved operating revenue of 7 billion Euro in Q1 2021, an increase of 27 % year -on -year FY 2020 results demonstrate d the successful growth strategy for Europe : o ver 2. 1 billion Euro revenues, with an increase of 8.7% year on year
XX May, 2021 – Haier Smart Home, the number 1 company globally in major appliances *, has released its Q1 2021 financial results show ing operating revenue of €7 billion and an increase of 27% year -on-year. Overseas revenue increased by 24.6 % yoy, with revenue growth of over 40% in high -end products.
The Q1 2021 report follow s the recent publication of the 2020 Annual Report confirming the profitable growth of its overseas business. In 2020 t he Company registered a global turnover of approx. over €26.5 billion, with smart appliances sales increased by 29% globally. Haier Europe achieved revenue s for approx. over €2.1 billion in 2020, with an increase of 8.7% yoy. It ranks fifth in the European home appliance industry with a 7.2% * market share.
Headquartered in Italy, Haier Europe is consolidating its European leadership in the field s of connectivity and IoT with a multi -brand – Candy, Hoover and Haier – strategy aimed at delighting consumers with a rich and relevant connected and AI -driven user experience and being the first consumer choice for smart home solutions.
Amid this strategy, Haier Europe has enhanced market scale and overall profitability and is continuing to focus on high -end brands, with Haier brand growing nearly 20%, and feature highly innovative products. In the transformation journey from a traditional manufacturing company into a co-creation and IoT community ecosystem, the Company aims to foster its cloud platforms strategy through latest novelties such as the hOn Smart Home Experience, conceived to connect all the appliances of Haier Europe brands in a single and intuitive living ecosystem: hOn was officially presented at IFA 2020 and won the most important and sought -after acknowledgment in the world of design, the Red Dot Award in the category Brands & Communication Design 2020.
The growth in Europe was driven by the acceleration on e-commerce platforms, supported by digital and offline integration – including opening flagship stores, brand walls and shop -in-shops – as well as the strengthening of alliances with partners across business es and industries to foster kitchen, laundry and home care rich scenarios in the smart home.
“2020 was certainly an unprecedented year with many headwinds and we always have had people safety as our top priority. We committed to guaranteeing business continuity and serving our consumers : our financial results show that all of our efforts are paying back” – said Yannick Fierling, CEO at Haier Europe – “We have a n ambitious long -range plan and growth strategy for Europe for the years ahead and the positive Q1 2021 performance we have already registered clearly shows we are on the right track. ”
The effectiveness of the winning strategy for Europe was widely recognized : Haier was nominated as the only “IoT Ecosystem Brand” in the world by WPP and Kantar and one of the most trusted companies in Germany by IMWF.
Guided by an entrepreneurial spirit among its people, Haier Europe is committed to accelerating its growth strategy in 2021 and zeroing the distance with consumers thanks to significant investments in products, brands and in its competitive industrial footprint, with the opening of the first cooling factory in the EU and the expansion of the washing platforms in Turkey. * Source Euromonitor International Limited; Consumer Appliances 2021, % units share, 2020 volume sales data.