27.03.2018 // Category:
Rodenstock back on course for growth after realignment
• Net sales rise to 416 million euros in financial year 2017
• EBITDA reaches new record high of 82.3 million euros
• Realignment of eyewear division proving successful
• CEO Kastalio: “We have strengthened our market position”
Munich, 27 March 2018 – The Rodenstock Group, Germany’s leading manufacturer of lenses and frames, has confirmed its long-term growth trend in financial year 2017. In spite of the planned loss of net licensing sales in the eyewear business, consolidated sales grew by 1.5% to roughly 416 million euros (previous year: 409.4 million euros). Adjusted for one-off effects, net sales growth amounted to 3.3%. The operating result (EBITDA) actually rose by 8.8% to 82.3 million euros (previous year: 75.6 million eu-ros). This is the best result in the company’s history. Besides further in-creases in production and logistics efficiency, the main reason for the posi-tive earnings development was the successful realignment of the eyewear division.
“This was a positive financial year for us,” says Oliver Kastalio, CEO of the Rodenstock Group, commenting on the figures. “The strategic decisions made over the past two years are beginning to pay off. We have signifi-cantly strengthened our market position by expanding our international production capacities in the lens business and setting up an independent eyewear division. We continue to grow sustainably and have never been as profitable as we are now. In spite of this, we cannot take 2018 for grant-ed. Consolidation within our industry is ramping up the pressure in terms of competition. That being said, I am confident that we will be able to take advantage of this upheaval. 2018 will be another growth year for Ro-denstock.”
Lens business remains key growth driver
The Rodenstock Group further expanded its technological advantage in the lens business last year with innovations such as the high-precision measurement system DNEye® Scanner 2+. To remain competitive over the long term, lens production was completely relocated last year from Frankfurt am Main to the high-tech sites in Regen and Klattau. As part of the general increase in capacity for the lens business, the number of em-ployees rose to 4,700 in 2017.
All in all, the Rodenstock Group produced and sold more lenses than ever before in its history. Demand from independent opticians remained con-sistently high last year. Total net sales in the lens division rose by 2.4% due to a strong international business development. In the core market of Eu-rope, the rate of growth was 2.7%.
Realignment of eyewear division showing initial success
In the eyewear business, total net sales declined by 10% due to the planned removal of certain licensed brands from its portfolio. The consoli-dation of the brand portfolio to the two core brands, Rodenstock and Por-sche Design, is beginning to pay off: the division’s EBITDA margin reached double figures for the first time in a number of years and was a leading contributor to the improved operating result.
Rodenstock is Germany´s leading manufacturer of lenses and eyewear. The company, which was founded in 1877 with its headquarters in Munich, employs around 4,700 people worldwide and is represented with sales offices and distri-bution partners in more than 85 countries. Rodenstock maintains production plants at 15 locations in 13 countries.
For more information, visit www.rodenstock.de/presse
You can also find Rodenstock here:
Head of Global Marketing & Communications
Tel.: +49 89 7202120