Candy Group shows strong growth in 2017

Appliance group plans to achieve 2million Euro turnover

01 Jun, 18

The Candy Group has grown by 14% increasing its turnover to €1.148billion in 2017 from €1.006billion in 2016 and aims to reach a €2billion turnover in four years.

It reported a growth in EBIT of 3.8%, equal to €44million, and a 0.4% growth in market share of large household appliances in Europe.

The Group which includes Candy, Hoover and Rosiere, brands is active across washing, built-in and small domestic appliances with over a fifth (21%) of its turnover from the UK.

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According to the privately-owned company, run by the Fumagalli family, the financial results are because of its technological capacity and focus on innovation.

This includes the sale of smart appliances, particular in washing machines, where Hoover Candy reports to hold 61% market share.

Candy Group has invested €15million in a factory in Turkey to manufacture intelligent dishwashers, with a production capacity of 80,000 units a year.

CEO of the Candy Group Beppe Fumagalli commented: “The positive results of 2017 confirm the growth of Candy Group, which for the second year in a row has confirmed to be the group that grows the most in Europe in the market of large household appliances.

“Thanks to an increasingly diversified and wider offer, particularly on the international brands Candy and Hoover, both in terms of product range and technological solutions, we are at the forefront of innovation on the European market.”