The Danish design company Kvadrat, known for its high-quality textiles and designer furniture fabrics, has begun to see a resurgence in growth following a turbulent period. The family-owned business, headquartered in Ebeltoft, faced significant challenges in 2023, reporting an operating loss of 11 million DKK and a post-tax deficit of 82 million DKK. However, its fortunes have shifted, with the company now forecasting robust growth for 2025.
Photo: Kvadrat.
Anders Byriel, CEO and co-owner of Kvadrat, revealed in an interview with Finans.dk that the company achieved 9% growth in the final quarter of 2024. Byriel expressed optimism for the coming year, predicting an annual revenue increase of 7-9% alongside a boost in operating earnings, now expected to reach between 75 and 80 million DKK.
This turnaround has been attributed to a series of strategic cost-cutting measures, including workforce adjustments and organisational restructuring. Kvadrat has also prioritised investments in innovative technologies and sustainable solutions to enhance its market position. Byriel highlighted the importance of addressing consumer demands for environmentally friendly products, which has played a key role in the company's recovery strategy.
Despite the difficulties of recent years, Byriel noted that the company's commitment to innovation and adaptability has set the stage for continued success. He emphasised that Kvadrat is now poised to sustain its positive momentum, having overcome the worst of its challenges.
Source: www.wood-supply.dk