Global Garden Products (GGP), Europe’s leading manufacturer and distributor of lawn mowers and powered garden equipment, reports annual net sales in Financial Year 2015/16 of EUR484million an increase of 4 per cent from the previous year, a third consecutive year of record growth for the company.
EBITDA for the year ending 31st August 2016 grew 17 per cent to EUR 51 million (10.6 per cent of sales). The net profit for the year after tax was EUR 21.2m (PY EUR 3,8M).
The excellent performance of the company has mainly been driven by the strong growth of their market-leading brand, Stiga, which delivered 9 per cent growth over the previous year, due partly to strong expansion of its dealer network across Europe. The growth was accelerated by increased consumer demand of the further enlarged range of battery powered products and systems based on the excellent market performance of GGP’s core range of lawn mowing solutions and robots.
Georg Metz, Group CEO commented, “Stiga and the GGP Group take a leading role in the widely expanding battery technology into lawn mowers, hand held garden machinery up to automatic lawn robots. With all this new and so much more convenient technology for the residential gardener the market is enjoying excellent growth drivers”
“We are committed to developing a pipeline of innovative gardening solutions and growing our presence in both existing and new markets. We are looking forward to delivering further international and sustainable growth in the coming years.”
GGP, headquartered in Castelfranco Veneto, Italy, sells over one million units a year in over 70 countries around the world, with a strong manufacturing base in Italy, Slovakia and China. It has developed a leading market share in Europe of well above 20 percent market share in the two largest product categories, lawn mowers and lawn tractors. GGP manufacture and distribute some of the most recognised powered garden equipment brands such as Stiga, Mountfield, Atco, Alpina and Castelgarden, which are sold in specialised dealerships, upscale gardening retail stores and other qualified channels.
The global market for powered lawn and garden equipment is worth approximately EUR 12 billion and shows a circa 1.5 percent growth rate from 2014.
The current year has started in line with expectations and the Group expects to maintain strong growth, driven by major investments in new products, dealer support and marketing.