Miele Records 12% Growth

Miele Records 12% Growth

August 07, 2006

-- Sales in 2005/2006 Fiscal Year Total EUR 2.54 bn
-- Market Leadership as Premium Brand Consolidated

    GUTERSLOH, Germany, Aug. 7 /Xinhua-PRNewswire/ --
During the past reporting period, the family-owned Miele
company succeeded in expanding its position throughout the
world as unchallenged market leader and premium marque. The
five-strong Miele board of management is proud to present
record results for the 2005/2006 financial year ending June
30. Miele group turnover grew by over 12% to EUR 2.54 bn
compared with EUR 2.26 bn in the previous year. According
to Horst Schubel, board member responsible for Finances,
Controlling and Administration at Miele Central
Headquarters, "This represents the highest turnover
ever achieved throughout the company's history. During the
past year, Miele managed to grow sales by EUR 280 m."
The ratio of home market sales to exports has remained
constant at 30% (Germany) and 70% (abroad).

    Miele's start into the new financial year is marked
with optimism. Miele management expects "dynamic
growth to continue apace," based on a strategy to
produce sustainable expansion worldwide in all divisions of
the company. The focus is on new products, exploiting the
market potential in the 37 countries in which Miele is
already represented with its own subsidiary, and on
establishing new markets.

    Turnover outside Germany in the same period grew by
almost 14% to EUR 1.77 bn. The greatest potential for
turnover growth, in per cent, is currently coming from
Russia and the CIS states as well as the whole of Eastern
Europe in general -- from the Czech Republic to Hungary and
Poland. Miele's traditional overseas subsidiaries in
Australia, Japan, the US, Canada and South Africa also
reported double-digit growth. Excellent progress was also
made in new overseas markets from Hong Kong, Singapore and
the United Arab Emirates to Mexico.

    Miele subsidiaries in Scandinavia and Northern Europe
had also obviously firmly set their sights on growth, with
Norway, Denmark, Finland, the Republic of Ireland, Great
Britain and Sweden all turning in high double-digit growth
figures. Southern Europe, led by Spain and Italy, also
recorded growth in double digits.

    Excellent results were also achieved in traditional
Miele markets bordering on Germany. With a sales share of
almost 60%, these countries, together with Germany, still
represent the backbone of the Miele group. Here, too, Miele
is clearly ahead of its competitors in terms of turnover
growth. Miele was able to improve its excellent position on
markets in Germany, the Netherlands, Belgium and
Switzerland.

    The Miele Group invested EUR 135 m in the past business
year compared with EUR 122 m in the previous year, including
investments of over EUR 100 m in Germany. As per June 30,
the Miele Group employed 15,019 persons (14,814 in the
previous year). "Although restructuring measures
already initiated at production plants and Central
Headquarters continue to be implemented as a matter of
priority, staffing levels in the Miele Group have
nevertheless increased slightly on account of significant
rises in unit output and work on expanding our worldwide
sales organisation," explained Mr. Schubel. Since it
was founded in 1899, the Miele company has been both run
and owned by the Miele and Zinkann families. The board of
management consists of Horst Schubel, responsible for
financial and administrative affairs, Dr. Eduard Sailer,
Technology, Dr. Reto Bazzi, Sales and Marketing, together
with Dr. Markus Miele and Dr. Reinhard Zinkann,
fourth-generation representatives of the respective
founding families.

    Note:

    The text can be downloaded from
http://www.miele-presse.de . This site also contains a
downloadable photograph of board members.

    For more information, please contact:

     Miele & Cie. KG
     Public Relations Office
     Carl-Miele-Strasse 29
     33332 Gutersloh
     Tel:   [phone]
     Fax:   [phone]
     Email: [e-mail]

SOURCE  Miele & Cie. KG