The Hansgrohe Group has reported a stable financial performance for the fiscal year 2024, despite persistent economic challenges and a struggling construction sector. The leading manufacturer of premium bathroom and kitchen products achieved €1.387 billion in sales, reflecting a slight 1.3% decline from 2023 (€1.406 billion). However, currency-adjusted sales remained at prior-year levels.
Hansgrohe Group, Board 2024: Christophe Gourlan, Chief Sales Officer Sandra Richter, Chief People Officer Hans Jürgen Kalmbach, Chairman of the Executive Board, Martial Gil, Chief Financial Officer Frank Semling, Chief Operating Officer, Deputy Chairman (from left to right).
'In the fiscal year 2024, we experienced stabilisation in sales,' said Hans Juergen Kalmbach, Chairman of the Hansgrohe Board, at the company's annual financial press conference in Frankfurt. 'Sales were slightly above our expectations, but we are still talking about a slight decline.'
Resilience in a challenging economic landscape
Despite geopolitical tensions, regional uncertainties, and increasing protectionism, Hansgrohe maintained a steady performance.
'2024 was a multifaceted and challenging year,' Kalmbach noted. 'However, we have faced these challenges and learned from them. With our "Hansgrohe Next-Level Strategy" and the team spirit of all our employees worldwide, we will achieve sustainable growth again in the coming years.'
The company recorded an EBITDA of €256.6 million, nearly unchanged from €256.8 million in 2023, while the EBITDA margin rose slightly to 18.5% (2023: 18.3%). Operating income decreased marginally by 1% to €199.9 million.
Market performance and global expansion
Hansgrohe operates in over 145 countries, with its largest market remaining Germany, where sales reached €326.6 million (-1.0%). International sales declined by 1.5%, though currency-adjusted foreign business grew by 0.3%.
Successes in India and Turkey helped offset stagnation in Germany and China. While the European construction sector remained sluggish, Hansgrohe saw growth in project business, even as traditional retail sales softened.
Investments in innovation and workforce growth
Hansgrohe expanded its global workforce in 2024, reaching 5,645 employees (+197 from 2023). The largest increase was at its new production facility in Serbia, reinforcing its "local for local" strategy to enhance supply chain resilience.
A total of €55.5 million was invested in product innovation, IT, and process optimisation. The company continued expanding its premium product lines, launching Raindance Alive and AXOR ShowerSphere at ISH 2025.
'Discovering and promoting new talents is in our DNA,' said Kalmbach, reflecting on the company's 100-year commitment to vocational training.
Commitment to sustainability and future growth
Hansgrohe was recognised with the German Sustainability Award 2024 and the EcoVadis Platinum Medal, placing it among the top 1% of 130,000 companies assessed globally. The company remains committed to its ECO 2030 initiative, equipping all water-bearing products with water-saving technology by 2030.
Looking ahead, Kalmbach acknowledged ongoing economic volatility, but remains confident in the company's strategic vision.
'We learn from every problem, face the challenges, analyse the situation, and seize our opportunities,' he stated. 'Our motto is to constantly improve, question, and never stand still.'
About the Hansgrohe Group
Founded in 1901, Hansgrohe is a global leader in innovation, design, and quality in the bath and kitchen industry. With operations in over 145 countries and eight manufacturing sites worldwide, Hansgrohe remains a driving force in sustainable, high-quality solutions.
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Hansgrohe Group
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