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Sweden's Bjorn Borg's Q3 2024 net sales rise 8.8% YoY, reach $259.5 mn

19 Nov '24

3 min read

Sweden's Bjorn Borg's Q3 2024 net sales rise 8.8% YoY, reach $259.5 mn

annavee - stock.adobe.com

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Bjorn Borg has reported net sales of SEK 285.1 million (~$259.5 million) in Q3 2024, up by 8.8 per cent YoY (10.4 per cent currency-neutral).
E-commerce sales rose 31.5 per cent to SEK 49.4 million.
Gross profit margin fell to 52.1 per cent.
Operating profit grew 2.8 per cent to SEK 42.0 million.
For 9M 2024, net sales reached SEK 755.1 million (~$674.6 million), with 11.9 per cent YoY growth.

Bjorn Borg, a sportswear, bags, and footwear company, has reported net sales of SEK 285.1 million (~$259.5 million) in the third quarter (Q3) ended September 30, 2024, an increase of 8.8 per cent year-over-year (YoY). In terms of currency-neutral, the net sales of the company increased by 10.4 per cent.

The net sales for own e-commerce increased by 31.5 per cent to SEK 49.4 million, while sales for own e-commerce and e-tailers amounted to SEK 119.7 million, an increase of 25.1 per cent, said Bjorn Borg in a press release.

The gross profit margin of Bjorn Borg amounted to 52.1 per cent YoY. In currency-neutral, the gross profit margin amounted to 51.2 per cent, a decrease of 1.4 percentage points. The operating profit of the company amounted to SEK 42.0 million, an increase of 2.8 per cent YoY. Currency neutral, operating profit amounted to SEK 41.1 million, an increase of 0.5 per cent YoY. Profit after tax (PBT) amounted to SEK 35.0 million, an increase of 9.1 per cent. Earnings per share (EPS) before and after dilution amounted to SEK 1.39.

Nine-month (9M) financials

The group net sales amounted to SEK 755.1 million (~$674.6 million), an increase of 11.9 per cent YoY. Currency-neutral, net sales increased by 12.3 per cent YoY, for the nine-month (9M) period from January to September. Net sales for own e-commerce increased by 20.6 per cent to SEK 130.8 million, while sales for own e-commerce and e-tailers amounted to SEK 314.8 million, an increase of 18.6 per cent.

The gross profit margin of the company amounted to 52.4 per cent. Currency-neutral, the gross profit margin amounted to 52.1 per cent, a decrease of 1.1 percentage points. Operating profit amounted to SEK 85.0 million, an increase of 5.8 per cent. Currency neutral, operating profit amounted to SEK 84.1 million, an increase of 4.6 per cent. Profit after tax amounted to SEK 62.7 million, an increase of 2.7 per cent. Earnings per share before and after dilution amounted to SEK 2.49.

Net sales for own e-commerce increased by 20.6 per cent to SEK 130.8 million, while sales for own e-commerce and e-tailers amounted to SEK 314.8 million, an increase of 18.6 per cent. The gross profit margin amounted to 52.4 per cent. Currency-neutral, the gross profit margin amounted to 52.1 per cent, a decrease of 1.1 percentage points. Operating profit amounted to SEK 85.0 million, an increase of 5.8 per cent. Currency neutral, operating profit amounted to SEK 84.1 million, an increase of 4.6 per cent. The profit after tax for this period amounted to SEK 62.7 million, an increase of 2.7 per cent. The earnings per share (EPS) before and after dilution amounted to SEK 2.49.

“Our chosen growth market, Germany, continued to develop very positively. During the quarter, we increased our presence with growth of 44 per cent,” commented Henrik Bunge, chief executive officer (CEO) of Bjorn Borg.

Fibre2Fashion News Desk (SG)

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