Stiebel Eltron raises revenue
German firm Stiebel Eltron, a manufacturer of water heaters, water filters and hand-dryers, bucked the industry trend in 2014 and grew by more than 26 per cent.
The company, which was formed in 1924 in Germany, has its Asian headquarters and production site in Ayutthaya and is the market leader of water heaters in Thailand.
Roland Hoehn, managing director of Stiebel Eltron Asia, said the combination of domestic and export sales amounted to almost 300,000 units and provided the company with a strong domestic market share of 25-30 per cent. While the market segment dropped overall, the company continued to improve through its network of marketing channels.
Hoehn believes the category decreased by about 4 per cent last year to around 600,000 units.
In 2014, the Stiebel Eltron reported revenue of more than Bt970 million. To bolster its position this year, the company is planning several new launches featuring water-heater and shower units while also continuing to spearhead development within the water-filter category. "It is important for us to continue to develop products that cater to the Thai market and that are also design-led," he said.
Stiebel Eltron plans to continue to focus on sales channels in Bangkok but will also look to create more sales platforms in upcountry areas while focusing on its new marketing campaign "90 Years of German Innovation".
