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25.04.2017 // Category: Business Press

Rodenstock expects growth again in 2017

• Capacity expansion in international lens production
• Realignment of eyewear division completed
• Sales of 409 million euros in financial year 2016
• CEO Kastalio: “Market consolidation is a huge opportunity for us”

Munich, 20 April 2017 – The Rodenstock Group, Germany’s leading manufacturer of lenses and frames, expects another significant rise in sales in financial year 2017. Last year, the company expanded its production capacities in international lens production and reorganised its frame (eyewear) business. As a result, Rodenstock is ideally positioned to benefit from the latest market developments.
“The ophthalmic optics industry has seen very cautious growth in recent times, which has certainly also increased the pressure to consolidate,” says Oliver Kastalio, CEO of the Rodenstock Group. “We view the announced merger between two major competitors as confirmation of our successful business model. For 140 years, Rodenstock has been the only company to provide frames and lenses from a single source. Last year, we expanded our foreign lens production capacities and focused the frame business on Rodenstock and Porsche Design, both of which are strong brands. In doing so, we created the conditions for further growth in the long term.”
Kastalio continues: “The merger of two competitors is a huge opportunity for us. Also in future, we will not compete with independent opticians by establishing our own retail and online business. Instead, we want to be a reliable, strong partner to them. That makes us an attractive alternative for many opticians.”
In financial year 2016, the Rodenstock Group generated net sales of 409 million euros, corresponding to a slight decrease of 1.8% (previous year: 417 million euros). Net of currency effects, sales was on par with the previous year. Along with a generally slower market development, especially strategic changes in the eyewear and lens business were the main reasons for the negative impact on the company’s growth. Prior to 2016, Rodenstock’s sales grew for six years in a row.

Technological leadership in lenses

In the lenses division, the Rodenstock Group has further increased its technological lead. Last year, the company once again launched leading products and technologies, such as the next generation of the highprecision DNEye® Scanner 2 measurement system or the overhaul of the “ColorMatic® IQ2” photochromic portfolio.
Although Rodenstock produced more lenses than ever before last year, sales in the lenses division fell slightly by 1.5%. Net of currency effects, sales remained stable. While the company succeeded in holding its ground in its core market of Germany and a rise in demand among independent opticians, business in other European countries and in the emerging markets of China and Brazil saw slower growth.

Realignment of eyewear division

Sales attributable to frames fell by 6% in 2016 due to the now completed realignment of the division. Last year, Rodenstock created a separate eyewear organisation that will allow it to react to the market faster and more flexibly in future. Moreover, the company has decided to focus on two core brands, Rodenstock and Porsche Design, and has therefore removed further license brands from its portfolio. Rodenstock extended the licensing agreement with its partner Porsche Design for another ten years in good time.

Operating result down slightly

The Rodenstock Group’s operating result (EBITDA) declined to 75.6 million euros in 2016 (previous year: 80.1 million euros) due primarily to the strategic reorientation of the company. All told, Rodenstock continues to operate with a significant doubledigit margin, making it one of the industry’s most profitable providers.

Significant rise in investments

Financial year 2017 will also be a year of strong growth for the Rodenstock Group. Last year, the company already made substantial investments in expanding lens manufacturing capacities for a number of reasons, such as coping with the rise in demand and higher volume. The investments mainly affected the production sites in Klatovy (Czech Republic), Bangkok (Thailand) and Regen (Germany). In 2016, investments in fixed assets increased by a total of just over 60% to 33.5 million euros (previous year: 20.6 million euros). Investments will amount to almost 30 million euros again this year. Along with the expansion of capacity the number of employees will also once again rise.

About Rodenstock:
Rodenstock is Germany´s leading manufacturer of lenses and eyewear. The company, which was founded in 1877 with its headquarters in Munich, employs around 4,500 people worldwide and is represented with sales offices and distribution partners in more than 85 countries. Rodenstock maintains production plants at 15 locations in 13 countries.

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Press contact:
Rodenstock GmbH
Kilian Manninger
Head of Global Marketing & Communications
Tel.: +49 89 7202120