RECORD YEAR FOR GARDEN MACHINERY MANUFACTURER

The STIGA Group has announced that they closed 2021 with sales of €573 million, which is an increase of 28% in revenues

These revenues were driven by what the company describe as "strong investments in research and development", which led to new products in new categories.

This 28% rise to €573 million in 2021 compared to €448 million in 2020, is 9% higher than the European market average growth of around 19%. EBITDA also grew significantly, up by 39% compared with 2020.

“Our business is undergoing a significant change that might even be seen as revolutionary,” commented Sean Robinson, CEO of the STIGA Group since 2019.

“The gardening market has always been relatively stable, with limited technological innovation. However, in the last three years, there has been a gradual and irrevocable move away from petrol engines to battery-powered machines. This reflects a fundamental change in both product technology and in how products are used by consumers. People want considerably less noise, less weight, and no smell and for products to be made from the right materials, in other words, new machines that are more sustainable.

"The positive results posted by our Group - the increase in our market share thanks to the introduction of new technologies - show that this has been the right approach to adopt, and our prospects are bright for the future.”

Sean continued, "“2021 was the highest result on record and it marks the start of an ambitious journey for our Group. Over the next four years, we plan to maximise our significant growth potential. We’ve just formulated our strategic business plan for 2026, which includes a new breed of consumer-driven solutions and technologies, more digitalisation of our products, solid investments in marketing innovation, as well as new channels of distribution development, all of which are driving sustainability into our business.

"With this bold project, we want to leave an important mark, with the utmost respect for the environment, people and the planet".