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Pelikan See Sales Falling By 17.3% for Year End 2011
Pelikan has seen its sales fall by 17.3% to 225.6 million CHF (187.7 million euros) in 2011 following the economic downturn in southern Europe as well as weaker sales in Germany – its main market.
The company said that cost reductions have helped offset the decline in margins due to lower turnover. Operating loss was reduced to CHF 1.8 million (1.5 million euros), against CHF 7.2 million in 2010.
44.5% of sales derived from Germany, 6.1% Italy and 17.2% from other European countries. Latin America accounted for 23.6% of turnover while the share Switzerland was only 3.4%.
Pelikan’s management expects continued weak business developments in Germany and other European markets in the field of printer supplies, saying that the sector is difficult due to changes in the channels of distribution and consumption behaviour. For office school stationery, Pelikan expects sales to remain stable is counting on innovation to strengthen the business.
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