Poggenpohl on consolidation course

Herford, 08.02.2008

With sales of €124m in 2007, Poggenpohl Möbelwerke GmbH, the kitchen manufacturer based in Eastern Westphalia, consolidated its position at the level of the prior year, when sales also totalled €124m. The company had previously achieved very strong growth and increased sales by 63% from 2003 to 2006. Excluding the effect of investment in new kitchen studios, the luxury brand also achieved the same strong earnings position as in the prior year.

With a market presence in more than sixty countries around the world, the subsidiary of the Swedish Nobia Group has developed into a global brand, and achieves more than 75% of sales through exports. Developments in the French and UK markets were particularly positive in 2007.

Profits through a daring approach
In the view of Poggenpohl's Managing Director Elmar Duffner, Poggenpohl's success over the last five years is thanks to the fact that the company consistently adjusted to changed consumer expectations and restructured the dealer network. Duffner comments: "Over the last five years we have also substantially increased the number of our sales studios - with such success that we will continue to expand."

In the first quarter of 2008 Poggenpohl will open or take over new studios of its own in Vienna, Dresden and Atlanta, USA. The German luxury brand manufacturer Poggenpohl now has a worldwide total of 31 sales studios of its own in parallel with approximately 420 dealer-run kitchen studios, including 140 exclusive to this brand. Another 40 to 60 own showrooms will be established in the next four years.

An overwhelmingly positive response has been received by Poggenpohl, as Germany's oldest furniture brand, for the "Kitchen for Men" developed in collaboration with Porsche Design. For the first time in the history of the furniture industry, a company has set up a waiting list for a product. For a (deductible) fee of €500 the purchaser can secure a priority option on the high-tech P'7340 kitchen to guarantee that he (or she) is one of the first to take delivery of the new kitchen in May. Private persons thus have an opportunity to be served even before many shops, which will have to wait for their display units. Registration is possible under the Internet address www.poggenpohl-p7340.com.

Further information:
Elmar Duffner, Managing Director Poggenpohl Möbelwerke GmbH, Herford, Germany
Tel. ++49 (0) 5221/381-213 or 0171/7658360
E-mail: elmar.duffner@poggenpohl.de, Internet: http://www.poggenpohl.de/