Breville records 37% sales growth in APAC

Breville experienced record sales of nearly $1.2 billion in FY21, up 24.7% on the previous financial year. Net profit after tax (NPAT) was $91 million, a year-over-year increase of 42.3%.

Global product segment growth was led by Europe, the Middle East and Africa (EMEA), up 58.4%, followed by Asia Pacific (APAC), up 37.4% and the Americas with growth of 27.6% in constant currency.

APAC delivered solid growth of 24.3% in the second half, following growth of 49.7% in the first half. This was attributed to retail remaining largely accessible to consumers and nimble supply chain management with inventory levels almost restored to normal by the end of the period.

Double-digit sales growth for Breville was partially offset by single-digit growth in Kambrook and Nespresso.

Breville president for Asia Pacific, Mark O’Kelly said he is very pleased with the excellent Breville results in FY21 aided by work from home trends.

“Our teams across the APAC theatre worked extremely well, together with our retail partners to overcome the numerous supply challenges to deliver impressive sell out results. We have also continued to increase our investment in R&D and marketing that will unlock future growth drivers,” he told Appliance Retailer.

Breville group CEO, Jim Clayton said it was a remarkable year with the accelerated demand experienced in the first half carrying through to the second half.

“Increased consumer demand, driven by the need to work from home, coupled with our continued geographic expansion, outweighed logistical challenges and a weakening USD. All regions and all categories delivered good growth despite experiencing very different and often erratic retail and supply chain environments,” Clayton said.

“Against this backdrop, we continued to accelerate our double-digit EBIT growth, while substantially increasing our investment in medium-term growth drivers. Our continued geographic expansion is delivering an increasingly diversified and balanced global portfolio, supporting both growth and resilience in an unpredictable market environment.”