Lars Larsen Group sets a new revenue record for the financial year 2023/24 and delivers its second-best result before tax.
The total revenue of Lars Larsen Group reached DKK 48 billion in the financial year 2023/24, an increase of six percent compared to the previous financial year. The increase in revenue is especially due to the performance of the largest subsidiary in the Group, JYSK.
Col
For the financial year 2023/24, JYSK delivered an EBIT result of DKK 4.43 billion (EUR 594 million) and increased its turnover to DKK 41.4 billion (EUR 5.6 billion). The global home furnishing retailer invested in lowering its already competitive prices on over half of its popular quality products and set a new customer record.
During the financial year 2023/24 (FY24), global uncertainties and
In the financial year 2023/24, SENG in Denmark reports revenue on par with the previous year at DKK 188.7m. The same applies to the EBIT result, which stands at DKK -5.9m, compared to last year's revenue of DKK 192.5m and EBIT of DKK -5.7m.
The new annual report from Danish design company BOLIA reveals growth and development across the board. The report shows an increase in revenue of 17 percent to DKK 1.43 billion, a rise in EBITDA of 54 percent from DKK 78.3 million to DKK 120.7 million and an EBIT result of DKK 28.2 million, which is an improvement of DKK 44.2 million compared to the previous year.
The internationally acclaimed Science Based Targets initiative (SBTi) has approved JYSKs greenhouse gas emissions reduction targets in accordance with the Paris Agreement. The greatest impact will come from reducing emissions in the production of products.
Today, Denmark's largest chain of home furnishing stores, ILVA, presents a turnover of DKK 1.42bn for the financial year 2023/24 in Denmark. This represents a 3 percent increase. Revenue also grew in the Swedish market with an increase of 8 percent, and on ILVA's web shop revenue growth exceeded 17 percent.
The Danish design company, SOFACOMPANY, has increased store and web shop revenue and is now pursuing the goal of 40 European stores by 2025.
The furniture chain ILVA, with a new CEO at the helm, can now reveal how the company will strengthen its store concept both physically and digitally to continue with its expansion.
With the results for the financial year 2022/23, Lars Larsen Group sets another revenue record in spite of continued global volatility and market uncertainty. The total revenue for the Group rose to DKK 45.4bn in 2022/23 – a three percent increase compared to the previous financial year, which also was a record year for the group.
Kim Møller Mønster will join ILVA as new CEO for the furniture chain headquartered in Sabro by Aarhus on 1 April 2024.
For the financial year 2022/23 (FY23), JYSK reached an EBIT result of DKK 3.96 billion (EUR 531 million) and increased its turnover by 6.3% to DKK 38.5 billion (EUR 5.2 billion.) The global home furnishing retailer continued its expansion plans and welcomed over 1.2 million new customers to its stores despite the slowdown in the global retail market.
The bed store chain SENG, which changed name from SengeSpecialisten in January 2023, closes the financial year 2022/23 with a turnover in Denmark of DKK 192.5m and an EBIT-result of DKK -5.7m. The company sustains its plans of expansion in Sweden in spite of the challenging market situation.
Bolia presents a total sales results for 2022/23 of 1.3 billion DKK, which is at the same high level as 2021/22, a record year for the company. However, after thirteen consecutive profitable years, the EBIT result for the year 2022/23 landed at -5.6 million DKK compared to 50 million DKK the previous year.
ILVA closes the financial year 2022/23 with a turnover of DKK 1.4bn and the furniture chain maintains its focus on strengthening its work with sustainability and its brand awareness in Sweden.
The Danish design brand, SOFACOMPANY, continues its international expansion plan in spite of the challenges in the global retail market.
The first day of autumn also marks the first official working day for the new business constellation that is Lars Larsen Group Retail.
Lars Larsen Group Retail (LLGR) is one of two main business areas in Lars Larsen Group and comprises the subsidiaries JYSK, Bolia.com, ILVA, Third.space, SENG, Sengetid.dk, and SOFACOMPANY.
Heading the LLGR-team is Jan Bøgh, the long-serving President and
At the head office in Brabrand, the owner-family behind Lars Larsen Group and JYSK honours the founder of the company with a full-size bronze sculpture.
Continuing the expansion to new markets, JYSK will open its first two stores in Türkiye in the first week of May 2023.
From 1 September 2023, 5 people, with the combined experience of more than 100 years within JYSK retail, will develop and run the new business area Lars Larsen Group Retail (LLGR) under Lars Larsen Group.
After a year characterised by costs deriving from acquisitions and some difficult market conditions, SengeSpecialisten sustains a positive EBIT-result and lands another Gazelle-award.