Companies: After austerity program: Home appliance manufacturer Miele with increase in sales

Home appliance manufacturer Miele has closed the 2024 financial year with an increase in sales, thanks in part to a cost-cutting program. The company, which employs 23,500 people worldwide, recorded sales of 5.04 billion euros last year. This is an increase of around 1.7 percent compared to 4.96 billion euros in the previous year, according to the family-run company in Gütersloh. Miele generally does not comment on profits or losses.

Worldwide, the number of employees rose by 3.4 percent due to an acquisition in the medical technology sector. In Germany, 11,300 people work for the company, a decrease of 4.2 percent. In January, the company confirmed that the announced job cuts would not involve any redundancies.

The family business, which is managed by the Miele and Zinkann shareholder families, plans to invest 500 million euros by 2028.

"We celebrated our 125th anniversary worldwide and at the same time launched one of the largest transformation programs in the company's history," says Reinhard Zinkann, managing partner of Miele. The company was able to hold its own despite reluctance to buy and high price pressure, said Markus Miele, the second managing partner.

The industry is generally under pressure. During the Corona period, many people invested in their own four walls and also bought kitchen appliances, washing machines and vacuum cleaners. In the following years, demand weakened and Miele's sales fell from 5.4 to under 5 billion euros.

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