Riedel Glas: US turnover up 72% in 2005

Austrian glassworks Riedel increased its turnover 25% year-on-year to EUR 122 million (USD 146.1 million) in 2005, despite restructuring and stagnating markets in Europe, CEO Georg Riedel said on 2 M…

Austrian glassworks Riedel increased its turnover 25% year-on-year to EUR 122 million (USD 146.1 million) in 2005, despite restructuring and stagnating markets in Europe, CEO Georg Riedel said on 2 March 2006. Riedel gave no details of the company“s operating profit. Consolidated turnover of the whole Riedel Glass Works group, comprising Riedel Glas, Nachtmann and Spiegelau, generated a turnover of EUR 235 million (USD 281.3 million) in 2005 and a total output volume of 50 million units in 2005. Austria accounts for 3.0% of the turnover and the share of exports increased to 97%. The largest growth in turnover was achieved by Riedel subsidiaries in North America and Japan. Turnover in the United States jumped 72% to EUR 62 million (USD 74.1 million) and turnover in Japan, including the far east and Australia, tripled to EUR 12 million (USD 14.3 million) from EUR 4.0 million (USD 4.8 million), while European turnover has increased 9.0% over the past five years. Riedel has two glassworks in Austria: at Kufstein, in the Tyrol and at Schneegattern, in Upper Austria. According to company data, Riedel Glass Works is the fourth largest glassware producer in Europe.