This considerable growth is primarily due to an internationalization process that was forcibly implemented in previous years. Additionally, favorable consumer attitudes in Germany and the consequently good business outlook in the German hotel and gastronomy sector ensured that domestic business remained stable. BHS employed 1154 personnel as of December 31, 2015 which was slightly more than previous year (1132).
In 2015, Group turnover was EUR 114.2 million, which represents a 15% increase over the previous year (EUR 99.3 million). The double-digit increase in turnover results in an improved earnings situation: in 2015, the EDIT totaled EUR 5.5 million, increasing by 17% compared to the previous year (2014: EUR 4.7 million).
The lower annual profits of EUR 0.7 million (2014: EUR 3.7 million) are due to a non-recurring, non-cash item (the recognition of the acquisition costs of John Artis under IFRS) resulting from the acquisition of John Artis Ltd.in 2014. The extremely positive development of the earnings of John Artis caused the purchase price to increase. For BHS Tabletop, this increase is accompanied by additional contributions to operating income.
Christian Strootmann, Chairman of BHS commented, “In 2015, we grew organically by 4.2% and moreover, we increased the turnover of the BHS Group by more than EUR 30 million within four years. This welcome corporate development was greatly driven by exports and is the result of our sophisticated business model, our highly motivated and trained staff, and our technological excellence ‘Made in Germany’. In spite of the consistently extremely competitive market environment, BHS remains strong and has evolved from a mere porcelain manufacturer to an adaptable, innovation-driven provider of tabletop solutions to all Foodservice markets.”
The subsidiary John Artis Ltd, which supplies the British market with fitting tabletop solutions, performed very well in its first full financial year. The distribution company generated turnover of EUR 16.8 million and is one of the largest suppliers to the British hotel and gastronomy sector. Supported by the good performance of the U.S. economy, the business of the American subsidiary BauscherHepp Inc. remained positive with the porcelain brands Bauscher and Tafelstern and cutlery form Hepp and WMF. The distribution company increased its turnover to EUR 13.3 million (previous year: EUR 9.5 million)
