Posted 23rd July

Blum's turnover rises by €48m in 2018/2019

23rd July 2019 - 08:00am
money matters, blum, germany, europe, turnover, kbb, kbbdaily

Blum Group has seen its turnover increase by €48.7m – equivalent to 2.6% – in the 2018/2019 financial year, reaching €1.9bn, with 48% of the Austrian group’s turnover achieved in the EU and 15% in the US.

The group has also formed a new management board, with managing director Gerhard Blum focusing on the Blum Group Holding, and managing directors Philipp Blum and Martin Blum heading up the company. They will be joined on the board by Urs Bolter and Gerhard Humpeler.

Blum said in the 2018/2019 financial year, the market in Western Europe was “rather subdued” but there have continued to be “positive developments” in Central and Eastern Europe. The group added it will be investing in a new 49,000sq m product bay in its Bregenz plant.

In terms of the 2019/2020 financial year, Blum said there is a “great deal of uncertainty” about future global economic development. “There are global signs of a slowdown in the dynamic growth of previous years,” said managing director Philipp Blum.

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