Premium warewashing brand Winterhalter has seen its unit volumes increase year-on-year in the UK market, culminating in sales of £29.5m in 2016, a 2% increase on the previous year in what was a challenging market environment.
Like a lot of brands that import a significant proportion of their product range from group companies in Europe, Winterhalter has been exposed to fluctuations in the sterling-euro exchange rate, but it manages its foreign currency requirements and exposure on an ongoing basis, and uses a range of financial instruments, such as currency bank accounts, to minimise risk exposure, it said in its accounts.
Directors of the firm said in their strategic report that they were pleased with the brand’s performance in the current economic climate, citing an improvement in gross margin as a particularly encouraging sign.
“The improvement in gross profit is a direct result of the directors’ decision to replace low margin business with a new opportunity yielding better margins,” they said, adding that it provides the foundation for future top and bottom line growth.
This year has seen the company continue to push the boundaries in terms of equipment connectivity by introducing systems that can be remotely monitored over the internet.
2016 Vital Statistics
Turnover: £29.52m (+2%)
Operating profit: £378,453 (loss stated for previous year)
Ownership: The ultimate parent company is Karl Winterhalter GmbH & Co. KG, incorporated in Germany
Financial year end: 31 December