Foreword
by the Executive Board

Dear ladies and gentlemen, dear Vorwerk Community,

The year 2022, which we look back on in this Annual Report, was also characterized by major challenges. The ongoing effects of the corona pandemic, Russia’s war in Ukraine, rising energy costs and disruptions in the supply chain led to an unusual situation for practically every company.

The Vorwerk Group has coped with this unique situation extremely well. In our core business, the direct sale of high-quality household appliances, we once again managed to increase our sales and achieved another record year with Thermomix, while also increasing the number of our advisers. Many large direct selling companies have been unable to do this.

We invested heavily in new products, launched our new Kobold VK7 cordless vacuum cleaner in the reporting year, and are rounding off the VK7 system this year with a new vacuum robot – despite the fact that the substantial cost increases for upstream products and the disappointing result from Neato Robotics weighed heavily on our net profit for the year.

The positive development of the Group overall in recent years is closely linked to the implementation of our Strategy 2025. There are three core elements that continue to be the focus: expansion and maintenance of the Vorwerk Community of advisors, customers and employees, the further development of the people-based direct sales approach using three interrelated channels with the focus on the sales advisors as well as innovative products and services.

We continue to view Russia’s war in Ukraine with deep sympathy. Our sympathy goes out to the people in the affected regions. The Vorwerk Community has shown solidarity and supported the people on the ground, but also at the locations of our national companies, in a variety of ways.

Despite all the imponderables, the Vorwerk Group looks to the future with confidence – and this is mainly due to the strength of our core business with the growth in the number of advisers - they and our employees prove every day through their tireless efforts the passion that unites them with Vorwerk. This is something we are particularly proud of and for this you all deserve our thanks and recognition.

Wuppertal, March 15, 2023
On behalf of Vorwerk SE & Co. KG