Haniel Group, which includes mattress ticking manufacturer BekaertDeslee and boxed mattress brand Emma as part of its portfolio, has reported a growth in turnover.

According to its full year results for 2022, group revenue increased by 18% to €4.2bn from €3.5bn in 2021. Operating profit amounted to €310m, up 12%, while pre-tax profit slipped from €271m to €101m.

During the period, the group strengthened its portfolio through multiple planet-focused investments in venture capital funds and direct investments, bolt-on acquisitions at CWS and BekaertDeslee, and a management buyout at Optimar.

Haniel has a 100% equity interest in Belgian-based BekaertDeslee, which further strengthened its North American business by acquiring the Maxime Group in Canada. The company faced a “universally weak economic environment, inflation and supply squeezes” during the period which saw year-on-year declines in volumes across every region.

“Active price and cost management as well as the effects of the Maxime acquisition enabled BekaertDeslee to offset these losses,” the group said. Total revenues rose by €51m.

As for German-based Emma, where Haniel currently holds a majority 54.14% stake, the company saw revenues rise by €234m year-on-year, with half of sales generated being secured in core-markets of Germany, the UK, France and the Netherlands.

“We continued to transform our portfolio last year. In addition to expanding our direct investments in clean-tech start-ups and venture capital funds with a sustainability focus, we primarily strengthened the business of portfolio companies through acquisitions,” explains Thomas Schmidt, CEO of Haniel.