The Swiss foodservice equipment and coffee appliance manufacturer said it has weathered supply chain bottlenecks and rising inflation to achieve revenues of $1.28bn, but anticipates a fall in consumer demand for the second half of 2022
Franke Group warned that a ‘fragile’ geopolitical and economic situation is expected to disrupt supply chain operations in the second half of 2022 | Photo credit: Franke Group
Reporting its half-year results for 2022, Franke Group parent company The Artemis Group said it achieved revenues of CHF 1.82bn ($1.86bn), an 11% increase on the same period last year.
The Artemis Group, which also controls real estate, asset management and tool manufacturing businesses, highlighted Franke Group’s strong performance during the period, with the Swiss foodservice equipment and coffee appliance manufacturer achieving sales growth of 2.8% to reach CHF 1.26bn ($1.28bn).
Franke Foodservice Systems and Franke Coffee Systems divisions were cited as positive contributors, while revenues for Franke Home Solutions fell.
The results highlight a shift in consumer demand for at-home coffee equipment following a sharp rise in the market during the pandemic when out-of-home coffee trade was repeatedly shuttered. In August 2021 Franke Home Solutions, the organisation’s home appliance manufacturer, achieved the largest sales growth within the company, at 41.1%
Franke Group said that price increases had compensated for higher raw material, component and transport costs in the first six months of 2022. However, it warned that a ‘fragile’ geopolitical and economic situation is expected to further disrupt supply chain operations in the second half of the year and lead to higher prices.
Headquartered in Aarburg, Switzerland, Franke Group employs approximately 10,500 staff across Europe, South and North America, Africa, Australia and Asia. In 2021 the company posted full-year revenues of CHF 2.56bn ($2.6bn).