LIXIL fiscal year 2022 revenue and profits rise
Please see below some highlights of today’s announcement of the financial results for the fiscal year 2022 (1st April 21- 31st March 22) from LIXIL, a manufacturer of pioneering water technologies and housing products whose brand portfolio also includes GROHE. The full press release in English can be found here.
Consolidated revenue for the fiscal year increased 4% year over year to ¥1,428.6 billion (EUR 11.34 billion) driven by continued strong performance of LIXIL’s Americas and European business.
Revenue of LIXIL Water Technology’s (LWT) international business, where also the GROHE brand is part of, increased by 19%, driven by the strong performance of the Americas and Europe.
Sales in EMEA markets increased 15% year over year, rising above its pre-COVID level. Sales grew in all product categories and sales channels with wholesale channels and e-commerce continuing to perform strongly.
Core earnings of the international business increased by 39% due to robust sales in the Americas and Europe, as well as price optimization and increased cost efficiency, including SG&A expenses.
As part of its strategy to meet specific needs of customers and each end-user segment, LIXIL’s GROHE brand launched GROHE Professional in EMENA, targeting professional installers and their end-user clients. The new sub-brand follows the successful launch of another sub-brand GROHE QuickFix that responds to growing do-it-yourself (DIY) demand. Designed to make plumbers’ everyday work as easy and efficient as possible amid labor shortages, GROHE Professional provides them with a dedicated product portfolio and the GROHE+ program, a comprehensive service package that includes training. GROHE has also expanded its GIVE program (GROHE Installer Vocational Training and Education) to nurture the next generation of plumbers, supporting plumbing schools across EMENA and helping the students gain work experience or placements after graduation. Through this holistic approach, GROHE looks to strengthen brand loyalty and expand cross-selling and upselling opportunities, as well as contribute to the sustainable growth of the industry.
Jonas Brennwald, Leader LIXIL EMENA, commented: “I’m proud to see that even in a challenging macroeconomic environment, the EMENA region is going from strength to strength. We are confident that the GROHE brand with its differentiated go-to-market strategy will continue to contribute to the success of LIXIL.”
Leader Brand Communications LIXIL EMENA