Zumtobel Group reports strong performance in LED sector
Zumtobel expects its LED business to grow strongly from the EUR 21 million in revenue reported for 2006/7.
The company, based in Dornbirn, Austria, saw its net profit for the year more than double, rising to 103.6 million from EUR 49.5 million in the previous year.
Zumtobel Group CEO Andreas Ludwig said, "In the past financial year we attained our goals in terms of both revenues and earnings. I was particularly pleased to note the strong rise in revenues in the growth markets that we defined two years ago – Asia and Eastern Europe – as well as in the LED sector."
Zumtobel's LED business recorded a 30% increase in revenues to EUR 21 million. Along with the LED business of TridonicAtco Optoelectronics, the two start-up companies, Ledon Lighting and Lexedis Lighting, also contributed to this upward trend.
In the year under review, LEDON was awarded two major projects – the Vienna Stadium Centre and the BMW Museum in Munich – which will be carried out for the most part during the 2007/08 financial year. The Management Board confirmed a mid-term sales target in the LED sector of EUR 100 million.
Zumtobel says that LEDs are set to remain a key growth driver for the Group, and it is targeting overall revenue growth of 5% in the current financial year.