Stiebel Eltron UK has announced a turnover increase of 38 per cent year on year in 2018 as demand for renewable energy in the UK continues to grow.
This positive trajectory has continued into 2019 with the organisation seeing a 50 per cent increase year on year in turnover in Q1 – growth which has led to the addition of three new account managers to cover all regions of the UK.
The growth follows increased demand for sustainable energy and is reflected in the performance of the company internationally – with the wider Stiebel Eltron group posting a turnover increase of 23 per cent year-on-year from £418 million to £516 million.
This growth has surpassed initial projections following a year of expansion.
Mark McManus, managing director of Stiebel Eltron UK said: “These results really highlight the hard work of everybody at Stiebel Eltron, as well as the growing demand for renewable energy across a range of sectors.
“We believe that electricity is the green energy source of the future, as methods of generation become more environmentally friendly. Our business strategy reflects this, and it’s brilliant to see it paying dividends across the group internationally and in the UK.
“To achieve these results despite the challenging political situation the UK currently faces is a testament to the efforts of everybody in our team.
“It’s a very exciting time for the organisation and we’re looking forward to building on these successes by reinvesting in our technology with a series of innovative product launches in the future.”
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