Page 7 - Miele D The Magazine 2018

NEWS
Christian Kluge, Peter Hübinger and Gernot Trettenbrein (from left) direct Miele Venture Capital.
Venture Capital builds
a bridge to start-ups
With the newly-established Miele Venture Capital Co. Ltd, Miele is seeking to cultivate the creative potential of young start-ups for itself. Thematically the daughter company focusses on creative solutions which are compatible with Miele products, services, value chains, business models or manufacturing processes. Forms of co-operation will range from joint development projects or management support through to direct equity stakes. According to Olaf Bartsch, Executive Director Finances/Administration, participation in new technology enterprises is a strategic investment that should be sustainably bene cial for all participants. Anything else, continues Bartsch, would not suit Miele either. The management of the company has been placed in the hands of Peter Hübinger (Head of the Smart Home business unit and Director of the Electronics factory), Dr Christian Kluge (Head of Central Controlling) and Gernot Trettenbrein (Head of Domestic Appliances).
Participation in Yujin Robot increased
Miele has increased its strategic co-operation with the Korean robotics specialist Yujin. The company currently produces the jointly-developed Scout robot vacuum cleaner for Miele. Furthermore it is the common aim to open up new areas of application in robotics. Yujin Robot was established in 1988 in the Korean capital of Seoul. The company develops, produces and markets robotic products and components for use in households, businesses, logistics and other areas of application. The two compa- nies began their partnership in 2012 with the joint devel- opment of a domestic robot vacuum cleaner.
With the expansion of Miele's participation in Yujin, both partners are emphasising the intention of sustainably in- creasing and further developing their co-operation, both in the high-growth segment of robot vacuum cleaners and also with a view to possible applications for automation in production.
Miele grows turnover by 4.3%
Despite declining markets and an even stronger euro, Miele remains squarely on growth course. The company achieved sales of € 4.1 bn in the 2017/18 nancial year ended June 30, 2018. This amounts to a year- on-year increase of € 167 m or 4.3%. € 91 m of this growth was generated by the Steelco Group, Miele's Italian subsidi- ary operating in the medical technology eld, whose gures
were included in company ac- counts for the rst time dur- ing this reporting period. In the Professional business unit, the Miele Group achieved a turnover of € 593 m, equating to an increase of 21.4% year on year (including Steelco). On a worldwide scale, built-in appliances contributed above- average to this success.
In Germany, Miele achieved sales of € 1.21 bn, represent-
ing an increase of 2.4%. This meant that the company once again outperformed the branch as a whole. Outside Germany, Miele above all significantly increased turnover in China; however, above-average growth also came from markets such as Canada, Austria and Rus- sia. The USA and Australia – Miele's biggest markets after Germany – achieved satisfac- tory turnover growth in local
currency. At 70.6 %, the share of sales outside Germany has remained practically constant.
During the reporting period, investments totalled € 272 m. A strategic milestone is marked by initial investments by Miele Venture Capital GmbH, first founded in 2017. This allows Miele to take out a stake in prom- ising startups, offering new digital services, greater convenience and lifestyle in the connected home.
Miele The Magazine // 7