Press Release - 22.10.2020 - 12:00
Actona Company significantly increases earnings
After an eventful year, Actona Company can today present record pre-tax profits of DKK 167 million for the 2019/20 financial year.
There are good grounds for satisfaction at Actona Company, which is owned by Lars Larsen Group.
Despite a year of substantial challenges with the company's supply chain, it has succeeded in realising yet another record financial statement. While turnover decreased marginally to DKK 1,836 million, profits rose by 22 percent to DKK 167 million before tax.
"It has been a very special year, not least for Actona Company. As a global company with customers, suppliers and employees all over the world, we have navigated a market that has been considerably more volatile than usual over the last months of the financial year. So I am very grateful for the incredible commitment shown by our managers and employees. Their readiness and willingness to succeed have been crucial to achieving such positive results," says Torben Villadsen, CEO of Actona Company.
Significant online growth
He is also pleased that Actona Company has managed to follow the overall Group strategy.
”We have a clear strategy that our entire organisation works to. This means that it is easier for us to opt out of businesses that are performing poorly and instead take advantage of those opportunities that create value for our customers, consumers and Actona," explains Villadsen.
With an increasing proportion of furniture sales now being made online, this strategy has included a separate objective to increase the company's ecommerce market share.
”I am pleased that even over the course of an uncertain year, our Board of Directors has not wavered in its commitment to our strategy of investing further in growth. We've done this in no small part by ensuring our retailers are better informed about our furniture, as well as by investing in superior IT integration," Villadsen continues.
The efficient setup has been a major advantage for Actona Company.
"We have benefited from an extremely well-functioning global setup that has attracted a lot of customers. Due to restrictions, many of them are unable to travel to Asia, for example. When they know that Actona Company has a solid setup with a focus on product quality and safety, it's only natural for us to receive many enquiries," says Villadsen.
This has been especially significant towards the end of the financial year, during which Actona Company has experienced considerable growth in both order intake and turnover compared to the previous year.
"We have seen that consumers in large parts of the world have chosen to spend more money on their homes and thus also on furniture. This means that we have had a really good start to the current financial year, where we built upon the many orders we have historically by setting a new turnover record in September," concludes Villadsen.