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Family business roundup: Sales grow at Estee Lauder, Hyatt Hotels, Hermes and Asklepios

May 5, 2012

It’s been a good week for family businesses in North America and Europe, with Estee Lauder, Hyatt Hotels, Hermes and Asklepios Group seeing their revenues increase.

Cosmetic giant Estee Lauder said on 4 May that sales grew by 4% to $2.25 billion (€1.9 billion) during its third fiscal quarter, which ended on 31 March. Net profit at the New York-based company, controlled by the founding Lauder family, rose by 5% to $130.4 million, from $124.7 million during the same quarter last year.

Family business roundup: Profits may drop, but revenues grow

May 3, 2012

A number of family businesses from around the world have gone against the trend of slowed growth, by posting rises in revenues.

Among these is German carmaker BMW, controlled by the Quandt family. On 3 May, the group said it had its “best first-quarter figures ever” in its 100-plus-year history. Revenues rose by 14% to €18.3 billion, up from around €16 billion for the same period last year.

Family business roundup: Profits down at Haniel, Loews and Indofood

May 1, 2012

Full-year profits have halved at Haniel, the German conglomerate controlled by the Haniel family, but two family businesses in North America and Asia have fared slightly better.

Duisburg-based Haniel, which has stakes in firms such as pharmaceutical company Celesio and retailer Metro Group, said on 30 April that its pre-tax profit dropped 50% in 2011 to €390 million, from €620 million one year earlier.

Family business roundup: Profits down at Ford, up at America Movil, Fiat and VW

April 28, 2012

Ford Motor Company, the US carmaker controlled by the founding Ford family, saw its profits plummet during the first three months of 2012, while three other family businesses have posted strong quarterly results.

Family business roundup: Sales up at Zegna, PPR and Fiat Industrial, down at Peugeot

April 26, 2012

Ermenegildo Zegna, the Italian fashion house controlled by the founding Zegna family, saw its profits almost double in 2011, while three other family businesses in Europe have reported mixed quarterly results.

Piedmont-based Ermenegildo Zegna, chaired by fourth-generation Paolo Zegna, said on 25 April that net profit jumped 91.5% in 2011 to €115 million. Revenues at the company, which was founded in 1910 as a weaving business, also grew by 17% to €1.13 billion.

Family business roundup: Strong demand boosts European firms

April 24, 2012

Much of Europe might be experiencing austerity, but some family businesses are reporting strong growth.

A German family-owned pharmaceutical company, Boehringer Ingelheim, said on 24 April that revenues for 2011 rose by 6.2% to €13.2 billion.

Much of this growth was due to the sale of prescription medicines, which accounted for 77% of total turnover, said the Ingelheim-based group.

Family business roundup: Profits down at Pick n Pay, up at LVMH and Heineken

April 18, 2012

Pick n Pay, the South African retailer controlled by the Ackerman family, has posted a drop in its full-year profits, while two family businesses in Europe have seen their revenues increase in the first quarter of 2012.

Johannesburg-based Pick n Pay said on 18 April that EBITDA fell by 4.2% to 2.07 billion South African rand (€202 million) for the year to 29 February, from 2.16 billion South African rand the previous year.

Family business roundup: Revenues increase at JCB, H&M, L’Oreal and Daphne Holdings

April 17, 2012

Family-owned machinery giant JCB has reported its best ever annual results, while a number of family businesses in Europe and Asia have seen their revenues increase in the first months of 2012.

JCB, the British construction equipment manufacturer controlled by the Bamford family, said on 17 April that revenues jumped 37% in 2011 to £2.75 billion (€3.34 billion), from £2 billion in 2010. This was the company’s strongest result in its 66-year history.

Family business roundup: Roche sees marginal decline while Cargill and Vista grow

April 12, 2012

Despite tough market conditions, three family businesses from different parts of the world have posted relatively strong quarterly and annual results this week.

European pharmaceutical giant Roche, controlled by the founding family, saw sales for the first quarter of 2012 fall by 1% to CHF11 billion (€9.15 billion) due to the strength of the Swiss franc. However, revenues at constant exchange rate rose by 2%, the Basel-based company said on 12 April.

Family business roundup: Prada, Folli Follie and Sabanci post strong results

April 3, 2012

It’s been a good year for three European family businesses – Italian fashion group Prada and Turkish conglomerate Sabanci Holding both posted double-digit growth, while Folli Follie in Greece saw its profits rise despite the country’s “severe recession”.

Milan-based Prada, which was founded in 1913 by brothers Mario and Martino Prada, said on 29 March that EBITDA jumped 41.7% in 2011 to €759.3 million, from €535.9 million the previous year.