Poggenpohl plans to substantially increase the number of Group-owned stores

 

Poggenpohl has developed its customer offering and store concept during the past three years. The company's most recent design partnership with Porsche Design and the launch of the new kitchen was well received, while the number of Group-owned stores has risen, and now totals 27.  In addition, sales are conducted through more than 450 dealers.

 

"With its clear concept, Poggenpohl is well positioned for continued growth. It is time to further raise our sales rate and we will also achieve this through Group-owned stores," said President and CEO Fredrik Cappelen today at Nobia's Capital Markets Day in Stockholm.

 

The Capital Markets Day also included an account of the current store expansion in the UK and France, as well as the planned openings in Spain next year.

 

Nobia's assessment of the market development to date:

The UK kitchen market remains stable.

Demand in the Nordic region continues to be favourable, but with a slight weakening in the new-build segment (excluding Sweden).

The Continental European markets have generally had a stable development in demand, but with a weakening in Germany and the Netherlands.

 

Nobia also emphasised that the kitchen market in Europe is becoming increasingly harmonised, creating further opportunities to coordinate customer offerings and thereby generate a more efficient supply of goods. The ongoing work to reduce product costs continues.

 

The day was concluded with an outline of the changed direction of Nobia's German business units, whereby focus has shifted towards retail chains, and the joint venture established with Dutch company DeMandemakers Groep, DMG, under the name Culinoma. In a short space of time, Culinoma has captured a leading position in the kitchen retail trade in Germany, with retail sales of EUR 180 million.

 

Material from the Capital Markets Day will be available at Nobia's website, www.nobia.com.

 

 

Fredrik Cappelen, CEO and President

Jan Johansson, CFO

Ingrid Yllmark, Director Communications and IR

Tel: +46 8 440 16 00 or +46 (0)708 65 59 00

 

Nobia AB

28 November 2007

 

 

 

As the leading kitchen company in Europe, Nobia is championing the consolidation of the European kitchen industry. Nobia creates profitable growth by enhancing efficiency and making acquisitions. The Nobia Group works with more than 20 strong brands in many European countries. Sales are mainly generated through specialised kitchen studios, both wholly owned and franchised. The Group has about 8,000 employees and net sales of approximately SEK 16 billion. Nobia is listed on the OMX Nordic Exchange in Stockholm. More information is available at www.nobia.com.