Press News
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.
For more information, visit rodenstock.com/press.
You can also find Rodenstock
here:
www.facebook.com/Rodenstock
www.instagram.com/rodenstock_official
www.pinterest.com/RodenstockDE
www.youtube.com/SeeBetterRodenstock
Press
contact:
Rodenstock GmbH
Kilian
Manninger
Head of Global Marketing &
Communications
E-Mail: kilian.manninger@rodenstock.com
Tel.:
+49 89 7202120