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.

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Hövding - Airbag for cyclists

Hövding started out in 2005 as a master’s thesis by the two founders Anna Haupt and Terese Alstin, who, at the time, were studying Industrial Design at the University of Lund.

The project resulted in the concept of an airbag helmet, which won Innovationsbron’s Ideas Grant. This kick-started the process of developing Hövding into a real product. In 2006 Hövding won the Venture Cup, after which Hövding Sweden AB was founded.

Over the years Hövding has grown from just two people with a great idea, to a NASDAQ-listed company that handle everything from development and production to marketing and sales. Today Hövding consists of a team of around 30 people, all triggered by the word impossible, and Hövding’s airbag for cyclists is available in 16 markets across Europe.

The headquarters are located in an old chocolate factory in Malmö – the sixth greatest cycling city in the world. Final assembly of Hövding is carried out in association with the Japanese Company Nihon Plast.

Hövding
Monbijougatan 17C
211 53 Malmö
Sweden
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