Family-owned business Blum from Vorarlberg, Austria, has recorded 2,297.16 million euros in turnover for the 2023/2024 financial year ended 30th June 2024. With a slight decrease of -1.2%, turnover has remained consistent with the previous financial year. The fittings specialist welcomes this stable development and is focusing on maintaining stability for its 9,294 employees around the world.
“The first few months of the last financial year were challenging for us and the industry as a whole,” comments Philipp Blum, Managing Director of the Blum Group. “However, there were some positive signs in the second half of the year and we are noticing improvements, even though the market environment remains challenging. The cost of raw materials, energy and staff in particular is currently very high.”
End users are also feeling the effects of inflation and associated price increases, they are more cautious about investments and think twice about new purchases. This is resulting in a slight decline in the level of equipment in kitchens, which in turn has an impact on fittings manufacturers.
Managing Director Martin Blum, however, also sees this as an opportunity: “This difficult market situation prompts us to really address our customers’ needs. We have 9,294 employees around the world all working together to keep Blum moving forwards and inspire our customers with innovative products.”
