Best financial result in the company’s history
- Group commission revenues increase by 11.8 percent to 230.8 million euros
- Particularly strong growth of 25.2 percent in non-domestic markets
Hamburg, 09 January 2013. In the past financial year 2012, the Engel &Völkers Group achieved its best financial result in the company’s 35-year history. The Group commission revenues rose by 11.8 percent over the last twelve months to 230.8 million euros (previous year: 206.4 million euros). The residential property shops operating in Germany were responsible for producing the highest proportion of this overall turnover. They increased their revenues from commission by 6.1 percent to 98.3 million euros (92.6 million euros) – which also constitutes a new record figure. Outside of Germany, revenues rose more sharply than ever before, by 25.2 percent to 81.0 million euros (64.7 million euros). In the Commercial division too, there was a 4.8 percent increase in turnover to 51.5 million euros (49.1 million euros). In total, the current number of more than 500 residential property shops and commercial offices brokered property in 2012 worth approx. six billion euros. Engel &Völkers currently has a staff of more than 4,100 employees in 35 countries on five continents.
The strong growth of the Group can be attributed among other things to the positive economic situation on the real estate market, particularly in Germany, Switzerland, Austria and in key holiday regions such as the Balearics and Florida. “In Germany especially though, the level of growth could have been even stronger, had only the supply of properties – multi-purpose apartment and office blocks in particular – been sufficient to meet demand,” said Christian Völkers, CEO of Engel &Völkers AG. Considering the excess of demand and the low level of new real estate, Engel &Völkers is expecting prices to increase further especially in the sought-after urban centres.
In international markets the strong growth of Engel&Völkers looks set to continue:The company is planning the further expansion of its brand in the world’s major metropolises from Barcelona and London to New York and Hong Kong. “The demand in our most important markets will be sustained, which means that we can anticipate considerable further growth in 2013,” Mr.Völkers concluded.
Furthermore Engel &Völkers Southern Africa has also had its best financial month in 5 years during December. “We have been growing from strength to strength each month for the last couple of years now which looks promising not only for us but the South African property markets. Even though pundits have predicted a stagnant market for this year we have definitely witnessed growth in sales which contradicts the pundits call”, says Craig Hutchison CEO of Engel &Völkers Southern Africa