Stiebel Eltron achieves record turnover in 2017

Magic threshold of 500 million euros is exceeded

Managing directors Dr Nicholas Matten (right) and Dr Kai Schiefelbein announced that Stiebel Eltron achieved a new record turnover in 2017, exceeding the half-a-billion euro mark for the first time.

The heat technology producer Stiebel Eltron has reported the highest turnover in the company’s 93-year history: the internationally active German group of companies with headquarters in Holzminden, broke through the 500-million-euro mark for the first time. “This is a fantastic success of which we are very proud,” said managing director Dr Nicholas Matten. “Half a billion had become almost a magical threshold, which we have finally exceeded as we near the end of the year. I want to thank all our employees, who made it possible for us to celebrate today,” added Dr Kai Schiefelbein. The company’s former record turnover was 483 million euros in 2012, its second highest turnover was 478 million euros in 2016. The increase in the last twelve months is based on growth in all relevant business units: the renewable energy division with heat-pump heating systems and air-conditioning systems, and the water-heating division with instantaneous water heaters, small and floor-standing storage heaters. “What’s more, we experienced growth in both our home market in Germany and internationally,” said Dr Matten. The final balance of accounts for 2017 will be confirmed at the end of the first quarter of 2018.