GERMANY. Gebr Heinemann today unveiled what it described as “healthy, robust development” for 2017, combined with an upbeat outlook for 2018. Controlled group turnover rose +6.6% year-on-year to €4.1 billion.
The family-owned travel retailer was in confident mood as it outlined its results during a now traditional annual media conference in Hamburg (look out for further details in coming hours and our full report in this week’s Moodie Davitt e-Zine).
The combined liquor, tobacco and confectionery sectors commanded the lion’s share of business with 57% of turnover, followed by perfume & cosmetics at 32% and fashion & accessories with 9%.
The company predicted double-digit sales growth for the 2018 financial year. Gebr Heinemann said it will invest approximately €100 million this year, much of it focused on its hugely ambitious development at Istanbul New Airport plus digital development in “connected travel retail”.
“In a competitive environment in which business in the core markets is being more heavily influenced by global political developments than ever before, Gebr. Heinemann has performed very well overall and acted flexibly to take advantage of the market conditions,” the company said.
We’ll bring you more details soon.