Growth in LEDs helped Zumtobel increase sales by over 10 per cent to £1.1 billion.
Rewarding: Sommerer welcomes LEDs boost
The global lighting group’s growth was driven by the trend towards energy-efficient lighting systems and the technology shift towards LEDs. As a result the company was able to buck the general trend in the commercial construction sector, which showed a marked downturn in 2010.
‘We’ve had a marked recovery in our lighting business,’ Zumtobel chief Harald Sommerer told the press. Sales were up 10.2 per cent and profit is firmly back in the black at £46 million with LED-based revenues over £90 million, following a substantial loss of £63 million in the previous year.
The number of employees has increased by 485 to 7,814.
‘One particularly rewarding aspect was the development of our LED business where we have now moved beyond the niche and prestige project stage and into genuine high volume business,’ said Sommerer.
‘On the back of the trend towards greater energy efficiency and the anticipated strong demand from emerging growth markets, we are now in an outstanding position to drive forward our global growth strategy.’
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The world’s eyes will be on Wankhede Stadium in Mumbai this Saturday for the final of the cricket World Cup between India and Sri Lanka. The showcase one-day cricket event is the first all-Asian final in the World Cup’s 36 year history.
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According to a report by market research firm NanoMarkets, the OLED lighting materials market will produce revenues of about $1.4 billion in 2015.