Investments in Germany
Miele is on a solid growth path and is confident about the financial year 2025, according to a recent press release published by the household appliance manufacturer from Güterloh.
According to its own figures, the long-established company increased its turnover in the 2024 financial year by 1.7% to EUR 5.04 billion compared to the previous year.
In its press release, Miele also announces new investments. The family-owned company is planning to invest around 500 million in Germany by 2028.
Transformation program
Regarding the development of the business year 2024, Reinhard Zinkann, Managing Partner of Miele, said: "We celebrated our 125th anniversary worldwide and at the same time launched one of the largest transformation programs in the company's history."
As part of the new transformation program MPP (Miele Performance Program), Miele has achieved important milestones to date, the company writes.
According to its press release, Miele has already been able to implement 50 percent of the planned measures to improve revenue and increase efficiency to the tune of 500 million euros.
Artificial intelligence
Miele is investing in AI for the company as a whole, says Markus Miele. This ranges from administration to production and service.
According to the household appliance manufacturer, artificial intelligence accelerates innovation processes in all areas of the company, for example in production.
Forecast and outlook
Miele also sees positive signs in the challenging general conditions. The company counts the construction crisis, consumer restraint, intense competition and geopolitical developments among the challenges.
According to the company, the positive assessment is based on business development at the start of the year and feedback from retailers on new products.
Reinhard Zinkann explains: "We are continuing our strategic course unwaveringly in order to achieve our goals sustainably. We are confident about the 2025 financial year."