HÖVDING YEAR-END REPORT 2021
October -
A year of transformation
Financial results for the quarter
- Number of Hövding helmets sold 29,353 (33,854) (-13%)
- Net sales TSEK 50,284 (52,759) (-5%)
- Gross margin 32% (24%)
- EBITDA TSEK –9,098 (-5,708)
- Profit before tax TSEK –9,934 (-7,387)
- Profit per share
SEK -0.36 (-0.27) - Cash flow before changes in working capital TSEK -9,418 (-4,237)
- Cash flow after changes in working capital TSEK 19,173 (-8,364)
- EBITDA includes items of a non-recurring nature amounting to 5,679 TSEK. These are related to the CEO change and the exit deal with the former German distributor.
Financial results full year
- Number of Hövding helmets sold 96,239 (96,561) (-0%)
- Net sales TSEK 161,686 (152,517) (+6%)
- Gross margin 30% (23%)
- EBITDA TSEK -23,527 (-38,558)
- Profit before tax TSEK -27,680 (-44,247)
- Profit per share
SEK -1.00 (-1.82) - Cash flow before changes in working capital TSEK -22,650 (-39,485)
- Cash flow after changes in working capital TSEK -25,395 (-43,160)
- EBITDA includes items of a non-recurring nature amounting to 6,929 TSEK. These are related to the CEO change and the exit deal with the former German distributor.
CEO
"In 2021, Hövding has undergone major changes operationally as well as financially. The changes have resulted in an improved gross margin and lower fixed costs in relation to sales.
The number of Hövdings sold in the fourth quarter decreased 13% compared to last year, explained by weaker Christmas sales than expected. We therefore enter 2022 with higher reseller stock levels than usual.
During the fourth quarter, two non-recurring items are reported in the form of a final agreement with the former German distributor and costs for the CEO change, which totals
It is with great confidence and humility that I have taken on the role as CEO of Hövding. The goal for 2022 is geographical expansion, to ensure Hövding's long-term growth ambitions. The focus is on
INFORMATION
Please direct any queries regarding the content of this interim report to:
CEO
Ph: +46 40 236868 Ph: +46 40 236868
sofia.svensson@hovding.com per.holmqvist@hovding.com
Hövding
Bergsgatan 33
214 22 Malmö
+46 40 236868
Hövding
Västra
E-mail: ca@vhcorp.se, tel: +46 40 200250
The information herein is provided by Hövding
Attachment
- Hövding
Sverige AB (publ) - Year End Report 2021
© OMX, source