The general assembly of the shareholders of Candy S. p. A, the Holding company of the group Candy, approves the repor…

The consolidated balance sheets as of the date of 31/12/2016 have been approved by the board of directors of the Group Candy, may 9, 2017. A record year for the Group, whose sales exceeded one billion euros. As regards the distribution of capital within the family Fumagalli, Mrs Aldo and Beppe Fumagalli acquire the majority of shares transferred by Maurizio, Silvano, and the heirs of Eden Fumagalli.

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Brugherio (MB), 20 June 2017 – The general assembly of the shareholders of Candy S. p. A., a Group holding Candy, which was held on the 13th of June last, and chaired by Aldo Fumagalli – has approved the financial report of December 31, 2016. The Group’s consolidated balance sheet Candy, ended on the same date, has been approved by the board of directors, on may 9, 2017, and has been submitted to the assembly for approval : the consolidated turnover amounted to 1.035 billion euros, with an increase of 10% on the twelve months. The success of the Group is homogeneous in all the major markets and divisions : the increase of its market share in Europe is approximately 20% and the EBIT to consolidated amounted to € 48 million (an increase of 87% compared to 2015).

The general meeting of shareholders also approved the distribution of the capital of the holding company. Members, Maurizio Fumagalli and Silvano Fumagalli, as well as the heirs of Eden Fumagalli, have sold 40% of the shares to Beppe and Aldo Fumagalli, who now hold 90% of the capital in equal shares.

Maurizio Fumagalli and Silvano Fumagalli, as well as the heirs of Eden Fumagalli (Chiara De Vizzi and Giulia Fumagalli) does not have an operational function within the company. Therefore, the management of the Group continues as before. Silvano Fumagalli will continue to be a member of the board of directors of Candy S. p. A.

The Group, whose economic results in 2016 are very positive, continues its ambitious development plan recently submitted, and integrating the new acquisition of the british company Hoover Ltd, a distributor of Candy on the English market.

“The transfer of shares within the Group is in the continuity of the practices of the past and allows us to enhance the governance in view of the important challenges for the future” explains the CEO of the Group Candy, Beppe Fumagalli. “Our development strategy for 2017-2019, with more than 100 million euros of investment, aims to achieve a consolidated turnover of 2 billion euros in the next five years. This objective requires significant efforts and commitment of all, whether it’s shareholders or all of the operational structures of the Group, ” says Beppe Fumagalli.

Groupe Candy Hoover is part of the european leaders in the sector of household appliances, with high-performing products and eco-friendly. The products are marketed under two international brands, Candy and Hoover, as well as several national brands such as Rosieres (France), Jinling (China) and Baumatic (Uk), each targeting a different market with a differentiated value proposition. Hoover is one of the leading european market for the maintenance of the grounds. Groupe Candy Hoover is a private company (owned by the family Fumagalli) multi-brands, which employs 4,100 employees, has 6 production sites in Europe, Turkey and China, and 47 subsidiaries and sales offices around the world. The headquarters, R&D, design and an industrial site, are located at Brugherio in Italy.

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