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THE ITALIAN COMPANY ALLUFLON IS GOING INCREASINGLY INTERNATIONAL.
Alluflon’s plans are increasingly pointing towards foreign markets. The company, that produces pans and cooking utensils and that is the proprietor of Moneta, Italy's oldest brand established in 1875, is looking to expand even more internationally. The latest step in this process was the 100% acquisition of the German company, Berndes, one of Germany’s most famous brands of cookware. In 2012, with the establishment of the new company Berndes Kuche Gmbh, it had already acquired 75% of the business and has been handling distribution in Italy since 2013. The Italian company, based in Mondavio, (province of Pesaro and Urbino), that employs 400 people is looking in this way to boost its turnover: the aim is to go from the €80 million of 2012 (EBITDA 10%) to €100 million by the end of 2013. It also intends to target markets in the Far East, where its subsidiary, Berndes Kueche Limited of Hong Kong, is already marketing the German brand and where it aims to promote the Italian product still further, whilst keeping the two identities totally separate.
Michele Montagna, Chairman of Alluflon spa and Berndes Kuche Gmbh explains the company’s strategy and its commitment to foreign business.
“Alluflon spa already produces 70% for abroad. In the last 4 years we have “built the capital base” and in order to maintain levels we have accelerated our ambition to internationalise. We could have done it by bolstering our domestic brands or through the acquisition of well-known foreign ones. Berndes was an opportunity that we seized and it was also an opportunity to positively drive the other subsidiary brands onto the market. There may be other future acquisitions and we are weighing up those opportunities in line with our strategy and our strengths.
Research is key to Alluflon’s growth, as CEO Giovanni Bruni explains.
“Alluflon is known for its ‘intelligent’ patents: from Salvaenergia®, an energy saving eco-device that displays the cooking temperature, to CERAMICA_01®, the first ceramic coating launched in Italy by Moneta in 2008. It now produces 18 million pans (15 million in 2011) and it is looking to exceed 20 million by the year’s end”.
And in order to grow we obviously require investment.
As Bruni explains “The company’s growth has been sustained by significant investments: in the three-year period from 2010 to 2012, we invested €10.6 million on systems and structures in order to increase output capacity. We now envisage a further investment of €2.5 million in 2013 on technological innovation. These figures do not take into account investments in intangible assets, such as the acquisition of Berndes and other intellectual properties."
How has the crisis in Europe affected you?“The economic crisis in Europe slowed our growth in 2011, when the company had a turnover of some €100 million, with a +50% over 2010, which with €65 million turnover had already recorded +50% over 2009. The €80 turnover in 2012 does not include Berndes Kuche Gmbh, operational since October 2012 or Moneta Mutfak, our other trading subsidiary in Turkey.” Berni concludes by saying “The reduction in turnover is in the main attributable to promo-fidelity channel, which is naturally viewed as fluctuating, but this doesn’t give us any particular cause for concern. We are always strongly looking ‘beyond’.”