Fenix Outdoor has reported a 34 percent increase in revenues to 298.6 million Swedish kronor (€27.9m-$36.9m) for the first quarter of this year, with 20 percent of the growth due to Swedish krona-denominated sales.
This excellent performance allowed the parent company of Fjällräven, Hanwag, Primus and Tierra to raise its operating profit for the year by 59 percent to 49.3 million SEK (€4.6m-$6.1m), and its net profit by 93 percent to 37.5 million SEK (€3.5m-$4.6m).
The wholesale business showed a sales increase of 37 percent to 245.5 million SEK (€22.9m-$30.4m) and its operating profit rose by 38 percent to 56.7 million SEK (€5.30m-$7.04m), although the gross margin decreased because of the lower value of the Swedish currency.
The company recorded stronger sales in Germany, where they reached 94.3 million SEK (€8.82m-$11.71m) for the year, and in other European countries. Among other new developments, Primus entered the Norwegian market.
Retail sales, which are represented mainly by Naturkompaniet, grew by 22 percent to 53.1 million SEK (€5.0m-$6.6m), and the chain produced an operating profit of 1.4 million SEK (€130,750-$173,200), recovering from a loss of 1.5 million SEK in the previous year.
On a same-store basis, retail sales grew by 20 percent. The group now has a total of 28 stores in operation, including six franchises, compared with 25 in March 2008.
Last month, Naturkompaniet took over the ownership of the Arc’teryx store in the Vasagatan area of Stockholm. Shareholders re-elected the board of directors and approved a dividend of 2.00 SEK per share at the company’s annual meeting on April 27.