Despite a somewhat sluggish winter, Swix Sports recorded solid results and good growth during 2012. Swix achieved a turnover of NOK 689 million Norwegian kroner (€91.7m – $120.2m) in 2012 and Ebitda of NOK 51 million (€6.7m – $8.8m). The corresponding figures for Swix in 2011 were NOK 604 million and NOK 69 million, respectively. The company also further strengthened its financial position and by the end of 2012 had an equity ratio of 44 percent, up from 35 percent in 2011. The weak and very short winter in Norway, and the near absence of winter in the U.S. contributed to a decline of around NOK 80 million (€10.6m – $13.9m) for Swix's core business. The positive results were primarily driven by the acquisition of Lundhags Skomakarna in February of 2012 and Original Teamwear in the subsequent month. Following the acquisition of Lundhags, the Norwegian market now represents about 50 percent of Swix' total revenues.
Related articles
-
News briefsJack Wolfskin remains in turnaround mode
Topgolf Callaway is restructuring the outdoor brand’s cost base and product strategy, with improving sell-throughs and strong performance in China.
-
ArticleGiant Group's results still affected by high inventories
The Taiwanese group is facing a decline in sales and challenges in the market in the first three quarters despite strong growth in China and new indoor cycling ventures.
-
ArticleMerrell’s Q3 EMEA sales rise by mid-teens
Merrell’s Q3 sales rose 1.4% to $159.2m, driven by growth in the US and Asia. Parent Wolverine Worldwide eyes a strong 2025 launch for Merrell’s Speed Arc Collection.