Press release -

HÖVDING YEAR-END REPORT 2021 - A year of transformation


HÖVDING YEAR-END REPORT 2021
October - December 2021

CEO Sofia Svensson commented:

"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 SEK 5.7 MSEK. EBITDA in the fourth quarter amounts to -9.1 MSEK, and adjusted for these non-recurring items, EBITDA would have been -3.4 MSEK.

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 Western Europe, where France and the Benelux are deemed to have similar conditions as Hövding's home markets Sweden and Denmark."

Read the report here.

Topics

  • Economy, Finance

Contacts

Related content

  • Hövding appoints new CEO

    Sofia Svensson has been appointed new CEO of the innovative Swedish company Hövding. Fredrik Carling will leave his role as CEO after ten years and Sofia Svensson will succeed him in the first half of 2022.

  • Hövding gears up in Germany with strong new partnership

    Swedish firm Hövding is taking its business up a gear in the German market through a strong new agency partnership with ALPINA Sports, part of the market-leading UVEX Group in Germany. Sales of Hövding’s airbag for cyclists have shot up in Germany in recent years. The new business model ensures an even greater presence in the German market, with broader sales channels and marketing.