Sedus Stoll Group

Stable business situation in 2013 Good start to 2014

Sedus Stoll, a major international full range supplier of office furniture and workplace concepts with around 900 employees, achieved a positive Group result in 2013. With sales declining by -2.4% to EUR 158.2 million (previous year: EUR 162.2 million), despite additional cost burdens due to the introduction of restructuring measures, earnings of EUR 0.9 million were achieved (previous year: EUR 2.7 million). Sedus thus performed better than the industry as a whole, for which BSO figures (Association of Office, Seating and Object Furniture) reveal an average drop in sales of -5.0% last year (previous year: -1.0%).
The Group's performance in the first quarter of 2014 has been encouragingly positive, with incoming orders increasing by 9.9%.

“For the year 2014 we expect Sedus and Klöber to achieve a slight increase over 2013, primarily due to our strengths in the areas of innovation and quality. The first quarter of 2014 confirms this view,” says Holger Jahnke, Director of Marketing and Sales. “With moderate sales growth, greater utilisation of production capacity and an improved cost position, we also expect a significant improvement in operating profit,” adds Carl-Heinz Osten, Director of Finance, describing the economic outlook for 2014.

The divisions in 2013 in detail:
While sales at Sedus Seating (office seating, furniture for communicating and contract furniture) dropped by -7.4% in Germany, sales abroad saw only a slight decrease of -0.3%. Incoming orders declined by -8.9% domestically, compared to a slight rise of 0.1% abroad.
The office furniture division Sedus Systems recorded a slight increase in domestic sales of 2.7%. International sales, however, dropped slightly by -1.8%. As a result of larger project orders completed the previous year, incoming orders were down -14.7% domestically and -4.6% abroad.
Klöber GmbH (office seating), which operates independently of Sedus, was able to increase its sales domestically against the market trend by 4.1%, while abroad there was a decrease of -11.2%. Incoming orders rose by 7.0% in Germany and fell by -5.3% abroad.

Orgatec 2014
Sedus will present innovative concepts and groundbreaking new products at Orgatec, the industry's leading trade fair taking place from 21 to 25 October 2014 in Cologne.

Anniversaries of subsidiaries
As part of its export strategy, Sedus began very early with the development of its own sales organisations in the main European countries. Three Sedus subsidiaries celebrate their anniversary this year: the oldest is the company in Paris, which is celebrating its 45th anniversary, followed by the Swiss branch in Rickenbach, which has been in existence for 30 years. The youngest of the European subsidiaries is the Spanish one, based in Madrid. It celebrates its 25th anniversary.