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Engel & Völkers sets new sales record

In the 2013 financial year, the Engel & Völkers Group increased its total commission revenues by 18.2 % to 272.9 million euros (2012: 230.8 million euros). This marks yet another record in the 35-year history of the company.

This high turnover result can be attributed first and foremost to the tremendous growth of the group in international markets. In the 37 countries operating outside of Germany, the group commission revenues rose disproportionally by 28.3% to 104.0 million euros (81.0 million euros). The commercial division also achieved an exceptional rate of growth, increasing revenues by 29.8 % to 66.8 million euros (51.5 million euros) and securing the best result for the division in the company's history in the process. 
 
Generating more than a third of the entire group commission revenues, the residential division in Germany also made a significant contribution to the good financial result. “Although the brand's presence covers virtually the whole of Germany, leaving little scope for further expansion, we still managed to build further on our strong market position and exceeded the 100 million euro mark for the first time in 2013,” said Christian Völkers, CEO of Engel & Völkers AG. The residential property shops in Germany, totalling more than 200 altogether, increased their group commission revenues by 3.9%, also setting a new record with revenues of 102.1 million euros (98.3 million euros).
 
Engel & Völkers is forecasting a continuation in its strong growth for the 2014. “The good state of the economy is set to remain in most countries. In addition to this, we have been able to establish additional new residential property shops and commercial offices in our key markets. This will play a key part in increasing our revenue streams,” Mr. Völkers stated.
 
Back at home, Engel & Völkers Southern Africa also set their own records with a year on year growth of 25%. Each month, since October 2013 has been a record breaking month, each improving on the previous. “Just looking at the activity we have seen in January this year alone, it is a clear indication that the property market has stabilised and that we could look forward to an even bigger 2014” concluded Craig Hutchison, CEO of Engel & Völkers Southern Africa.


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