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, an improvement of DKK 44.2 million compared to the previous year.
Despite a highly competitive market and relatively low consumer confidence in most regions, BOLIA achieved sales growth across all markets. This success is attributed to a continuous focus on design development, sustainable initiatives, customer experience, and global expansion.
High organic sales growth and international store expansion
During the 2023/24 financial year, Bolia opened new stores across Germany, France, Spain, and Belgium. In June 2024, the first Bolia design store opened in Melbourne, Australia.
'This past year, we've made significant investments in design development, sustainable initiatives, and expansion, including new Bolia flagship stores at prime locations across major European cities and in our new market, Australia. At the same time, we achieved strong organic sales growth of 13 percent, excluding new stores, across all current markets,' explains Bolia's CEO, Lars Lyse Hansen.
'We are very satisfied with this result and the tremendous effort put forth by our dedicated team members, designers, and partners over the past year, which has been particularly challenging for our industry,' adds Hansen.
Continuous expansion
With growth as a permanent goal, Bolia plans to accelerate its global expansion by establishing a series of new concept stores across Europe, boosting sales to the professional contract market, and partnering with more exclusive agents, dealers, and retailers worldwide.
'Just last week, we celebrated the opening of two new Bolia flagship stores in Malaga and Marbella. In the coming year, we will continue our successful expansion in Spain, Germany, France, and Switzerland, grow our global wholesale network, and further develop our e-commerce platform. We can't wait to bring our design collections to even more vibrant cities and thriving markets in the coming year,' Hansen concludes.
More information:
Bolia
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www.bolia.com