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Frauenthal Expands into Slovakia

Published: April 2, 2012; 19:53 · (Vindobona)

The Austrian conglomerate acquires a Slovak sanitary retailer. The automotive segment recovers, CEO Moser says.

The Vienna-listed conglomerate Frauenthal acquired the Slovak sanitary retail company Technopoint. The new interest will be integrated in Frauenthal´s sanitary division SHT Haustechnik AG. Technopoint is based in Bratislava and number four in the Slovak sanitary market. The company achieved revenues of € 10m last year and employed 70 workers at the end of December. The sale price was not disclosed.

CEO Hans Peter Moser explains that the acquisition was unleveraged. Also funds from the capital increase of last year were not used. The sale price was “attractive”, Moser commented. Last year, the Slovak sanitary market experienced a major slump, Moser explains.

“We will not earn much in the first year.” However, forecasts are optimistic. In 2012, Moser expects the Slovak market to stabilize at least. In 2013 and 2014, growth rates of 5% to 10% are anticipated. Above all, Frauenthal´s aim to become more international could be underlined. Moser does not exclude further acquisitions at all. “We are observing the market permanently.”

Moreover, Frauenthal reports good news for the automotive division. The revenue level of 2011 won´t be reached this year, Moser anticipates. Last year, Frauenthal achieved revenues of € 235.3m. In 2012, a decline of 5% to 10% is expected. Moser: “Nevertheless, a further downward trend is not foreseeable.” By contrast, there are indications of a trend reversal.

Moser underlines that Frauenthal is much more flexible since the economic crisis. “We have learned from the past.” Capacities were lowered, but short time work is not issue yet, Moser says. Last year, Frauenthal Group achieved revenues of € 587.8m. The sanitary division´s revenues amounted to € 278.8m.

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