The Hettich Group, one of the world’s leading manufacturers of furniture fittings based in Kirchlengern, Germany, has released its balance sheet for 2023. In a year which, from an economic point of view – and not only of course – presented various challenges for the furniture industry, with skyrocketing construction costs, particularly high interest rates, inflation and general investment uncertainty in many countries around the world, Hettich recorded a turnover of EUR 1.3 billion, a drop of 14 per cent compared to the previous year. The export share accounted for 75 per cent. Worldwide, more than 7,700 people worked for Hettich in 2023, including 3,600 in Germany alone.
INVESTMENTS
Investments in new projects, infrastructure, buildings, plant, digitisation, sustainability and capacity expansion amount to around EUR 170 million. This was reflected, for example, in the expansion of production areas in Kirchlengern and Frankenberg (Eder) and in the investments made in Asian growth markets such as Vadodara in India and Zhuhai in China.
Among the highlights of 2023 is certainly the union with FGV, formalised in January 2024. “Hettich and FGV are two companies with a combined experience of more than 200 years,” emphasised Jana Schönfeld, managing director of the Hettich Group. “Together we can today count on around 8,600 colleagues worldwide, who put all their commitment, passion and ideas into achieving the best results for our customers every day“.
INNOVATIONS
In 2023, the Hettich Group presented innovative solutions including the revolutionary “FurnSpin” fittings system for the high-end segment. Sascha Groß, Managing Director of the Hettich Group, emphasises: “Whether room-high furniture or small display cabinet elements – with FurnSpin, everything can be rotated. The fitting remains virtually concealed and offers all the familiar convenience functions such as soft-close or push-to-open for handleless furniture design. FurnSpin is a fitting with the potential to change the world of furniture“.
