Gehrlicher reports record 2010 sales; sets ambitious 2011 goals

In terms of foreign sales revenues, the German company increased its share from 15.6 percent in 2009 to 24.1 percent in 2010. Meanwhile, its EBIT hit €27.8 million, and its gross profit margin increased from 15.4 percent to 16.9 percent.

The group’s net profit amounts to €17.8 million in comparison to the €21.7 million reaped in 2009.

CFO, Ralph Schemmerer said the goal is to now increase sales to over €600 million and the number of employees to around 500 by the end of the year.

He added: "We look back on a successful year during which we were able to increase our sales once again. By establishing and extending our foreign branches in Great Britain, India, South Africa, Brazil, and in the USA, we have laid a solid foundation for further profitable growth."