Earnings before tax increased to DKK 6.5 million in 2024, up from DKK 2.4 million in 2023, marking a significant improvement despite a challenging market. Gross profit remained unchanged at DKK 60.4 million.
CEO of Fredericia Furniture, Rasmus Graversen. Photo: LinkedIn.
The furniture manufacturer, Fredericia Furniture, attributed the growth to cost control measures, new product launches, and a strong focus on sustainability. CEO Rasmus Graversen, who took over on 1 May 2024 as the third-generation leader, stated that the company's strategy involved balancing expenses while introducing new initiatives to drive positive development.
New product launches, including the Plan series by Barber & Osgerby, the Pioneer bar stool by Maria Bruun, and the Gomo lounge series by Hugo Passos, were well received. The company also expanded its refurbishment programme, which restores and recycles furniture, supporting its sustainability goals.
Despite setbacks, such as fires affecting two subcontractors, the company benefited from maintaining in-house production skills, allowing it to respond flexibly.
The UK, the US, and Sweden were key growth markets, driven by long-term efforts to strengthen relationships with designers, retailers, and project managers. In less profitable European markets, the company reintroduced the agent model to reduce fixed costs and focus on core regions.
Founded in 1955, Fredericia Furniture has remained family-owned, with the Graversen family each holding a 25% stake. Before Rasmus Graversen's appointment, his father, Thomas Graversen, served as CEO until 2015, followed by Kaja Møller.
Source: www.wood-supply.dk