Appliance brand Miele has achieved sales of € 4.5 bn, for the financial year January 1-December 31, 2020, up 6.5% more than in 2019.

The Executive Board of the Miele Group (left to right): Dr. Stefan Breit (Technology), Dr. Markus Miele (Executive Director and Co-Proprietor), Olaf Bartsch (Finances and Administration), Dr. Reinhard Zinkann (Executive Director and Co-Proprietor) and Dr. Axel Kniehl (Marketing and Sales)

The executive board attributes its success to a “strong brand, high quality product range and the persistent expansion of digital marketing activities”.

Miele reported strong growth in Germany, central Europe and China, with the USA and Great Britain roughly holding the same level of business as the previous year.

Sponsored Video

Quarter sawn Tulipwood

Its turnover in Germany reached € 1.33 bn, representing an increase of 8.8% and accounted for 29.5% of overall turnover.

While the company reports the year got off to a promising start, sales dropped between March and May.

However, Miele experienced “strong demand” during the summer and an “outstanding” second half of the year, as consumers unable to travel or spend outside the home invested in their house.

Showing the greatest sign of growth was cooling appliances and vacuum cleaners, as consumers looked to refrigeration and freezers for longer term and more reliable food storage due to COVID.

In addition Miele reports it has profited from the launch of its Generation 7000 range of built-in appliances and G 7000 dishwashers and its upgraded laundry care portfolio.

Consumer association Which? named Miele the winner of its Large Kitchen Appliance Brand category in 2020.

Miele’s Professional division grew by 1.8%, as hotel and restaurant business fell but there was double digit increase in the hospital project business.

However, “historically high” sales and because of production halting in Spring, it has increased the lead time for appliances.

Miele reports delivery periods of more than six weeks in the case of washing machines, tumble dryers and dishwashers, depending on the model.

The manufacturer states plants are operating with a “very high” workload and it has added extra shifts and increased production capacities.

The company has also chosen this time for an “ambitious” expansion of its sustainability strategy, with a plan to achieve climate neutrality at all its locations during 2021. This will include its own emissions and those of its energy suppliers.

To support its core business, the company is taking a stake in startups via its Miele Venture Capital subsidiary to gaining access to smart services, such as recipe app KptnCook.

A milestone during the reporting period was the launch of a separate location for global
digital marketing and sales in Amsterdam (Miele X),  to support the digitalisation of products, services and processes.

The Executive Board thanked all employees for their outstanding commitment with members of staff worldwide receiving a voluntary bonus amounting to 40% of their monthly salary.