Duravit has reported in 2019, that despite low global economic growth, the Group’s total revenues were up by 4.8% (€486.8 million) at year end. Net profits increased by more than 20% year on year. Duravit confirm its solid balance sheethas put the company in an ideal position to continue on its successful course once the Covid-19 pandemic has been overcome.
During 2019 Duravit secured its market position in Germany. China produced the highest revenue growth with 20%. A strong result in Egypt also contributed to the positive development of the business. In Europe, key sales markets such as Switzerland and Spain generated above-average revenue growth alongside Germany.
The introduction of a new SensoWash® generation produced especially dynamic growth in the showertoilet segment. The SensoWash® Starck f combines iconic design with maximum comfort and was met with an immediate and lasting positive response.
Duravit enjoyed gains in other product areas. Two new high-end series developed in collaboration with sieger design again raised the bar for exclusive bathroom design. The faucet business also did extremely well. The sanitary ceramics business was also up, and the private label business, with a share of less than 2% of overall revenues, made a positive contribution to the development of key business relationships.
Successor to Prof. Richter agreed
As reported, Prof. Richter will leave the company on 30 June 2020 to devote himself to new activities. His designated successor is Stephan Patrick Tahy, who will take on the role of Duravit CEO. Mr. Tahy is currently CEO of De’Longhi GmbH Germany and was previously Vice President and General Manager at Mattel Inc.