EURONICS International well placed

Berlin (ots) -

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EURONICS International, Europe's biggest buying group in the
consumer electronics (CE) market, achieved sales worth EUR 14.4
billion in the past financial year. Thus the co-operative partnership
recorded significant 14.3 percent growth in 2008. By contrast, the
European market as a whole contracted by five percent last year. The
members of Europe's biggest buying group have so far been affected by
the recession to widely differing degrees.

Effects of financial crisis

"The wide variations in turnover growth have a ripple effect. Not
all European countries are affected equally and simultaneously by the
consequences of the economic crisis. Of course this also applies to
our members. The reasons for this are the significant differences in
local market structures and consumer preferences," explains EURONICS
International's Managing Director, Klaus Lahrmann. For example, in
the past five years, Spain has been a country with some of the
strongest growth areas, but at present the Spanish are particularly
hard hit by the recession. Lahrmann adds: "We see one of the main
reasons for this in the consumer dependency on the property market,
which is suffering worst in the current financial climate." Figures
from market research firm GfK show that the CE market in Spain
recorded a 15 percent fall from 2008 levels in the first half of this
year. The UK, too, was down by around 17 percent. "Another major
cause of lower sales by our members, in many cases, has been the
massive collapse in prices, though not in demand." In the UK, wide
exchange rate fluctuations exacerbated the sharp fall.

"Despite the worldwide financial crisis, intense competition
persists in the European market for consumer electronics and
household appliances. Pressure on prices and margins is strong.
EURONICS International has found the right answers to quality
orientation and the price decline in Europe's consumer market. We are
also on course for a successful market presence in Europe in the
future," noted EURONICS Chairman Werner Winkelmann at the IFA trade
fair in Berlin. In 2009 the European consumer electronics market will
have to cope with significant reductions in turnover. "EURONICS
International is well placed in relation to the world recession, but
must also expect lower overall sales figures in 2009. We are
optimistic as we approach the end-of-year trade, which is decisive to
our business, and will maintain our former market position in
Europe," added Winkelmann with conviction.

IFA 2009: valuable boost to end-of-year trade

The IFA Berlin offers an outstanding platform for the
international CE sector. Well-known international brands of white
goods clearly strengthened the Berlin exhibition venue in 2008. "This
has made the calendar more crowded. But we are looking forward to the
fair," reports Klaus Lahrmann at the start of IFA. Winkelmann adds:
"For our retailers, the participation of the domestic appliances
manufacturers makes the IFA even more attractive. Our trade visitor
figures confirm the importance of the IFA to our co-operative
partnership. Over a thousand EURONICS retailers from 29 countries
found out about new products and trade trends at IFA 2008. They
received a valuable boost to their end-of-year trade. Especially in
times of economic difficulty for the whole sector, such a platform is
vital for all market players," stresses Winkelmann. In 2009 the
buying group expects even higher participation by its members than
last year.

Originaltext: EURONICS Deutschland eG
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