Faber-Castell reports a strong increase in turnover
Published on 28.08.2023
In the 2022/23 financial year, Faber-Castell generated the second-highest turnover in the company’s history. This was announced by the company in a recent press release. After markets largely recovered from Covid-19 restrictions, the company realized a strong increase in turnover of 24,2 %, with sales rising to 649.2 million euros, up from 522.6 million euros the year before. Adjusted for currency effects, i.e., assuming stable currency exchange rates, this marks an increase of 19,9 %. The company’s stationery and Cosmetics business units were both equal contributors to this growth.
“Our new global corporate strategy is working very well. Thanks to the commitment of our global teams, we achieved strong growth in sales over the past financial year. I am very grateful to our employees who have performed exceptionally well despite considerable challenges in global supply chains”, said CEO Stefan Leitz.
In the stationery area, Faber-Castell saw excellent rates of growth in almost all fields of competence. Despite decent decline in demand in the creative sector, sales in the Art & Graphic area are still well above the level in the pre-covid 2019/20 financial year. The Latin American and Asia/Pacific regions were major drivers of growth.
“Even though this year will be challenging with increasing costs, we are still expecting growth above the market level.” High costs and a taut situation in the procurement market are likely to persist in the medium term, despite the slight easing compared to the year before. At the same time, decreasing purchasing power of consumers is negatively affecting sales markets.
Mr. Leitz remains confident about the Group’s further development in the medium term. “Our global growth strategy ‘ONE Faber-Castell’, puts us in a good position to meet these future challenges and make the most of opportunities.” www.faber-castell.de
Photo: © Faber-Castell