Fresh from a June listing on Nasdaq Stockholm, RevolutionRace, the Swedish DTC outdoor company, saw sales in the fourth quarter of its fiscal year surge by 152 percent to 273.7 million Swedish kronor (€26.8m-$31.3m), with double or triple-digit growth in all markets. The average order value (AOV) rose to SEK 740 (€72.4-$84.8) from SEK 709, amid high demand for its multi-functional garments and a broadening of the company’s product portfolio.

For the three months ended June 30, the adjusted operarating margin (Ebit) widened to 28.3 percent from 21.5 percent a year earlier. The gross margin climbed to 73.4 percent from 70.1 percent, as a result of an increased share of sales in markets with higher prices and a favorable currency impact, partially offset by increased freight costs due to the strained global logistics situation.

During the fourth quarter, the company took steps to bolster its logistics and now has a second physical warehouse in Germany to raise the speed of delivery to continental Europe.

In geographical terms, fourth-quarter sales increased by 68 percent to SEK 113.3 million (€11.1m-$13.0m) in the Nordics, a region where RevolutionRace has been active for several years. In the DACH region, where it currently sells to Austria and Germany but plans to expand to Switzerland in the future, sales grew by 271 percent to SEK 122.6 million (€12.0m-$14.1m), led by a 296 percent rise in Germany, currently the company’s largest market. In other markets, RevolutionRace saw sales rocket by 379 percent to SEK 37.8 million (€3.7m-$4.3m); in particular, the company highlighted “excelling” sales in the UK, a market where it has continued to grow at a “very high rate” despite Brexit.

In the full 2020-21 fiscal year, the company’s sales increased by 132 percent to SEK 897.1 million (€87.8m-$102.8m), more than double the SEK 386.8 million seen the year earlier. The number of orders grew to 1.176 million from 534,000 in the previous fiscal year as AOV climbed to SEK 763 (€74.7-$87.5) from SEK 724. Sales rose by 74 percent in the Nordic region, by 179 percent in Germany and Austria, and by 404 percent in the rest of the world.

The adjusted Ebit margin went up to 27.6 percent from 21.5 percent.

During the year, RevolutionRace launched local webshops in Belgium, Ireland and Spain. In the second half of June, the company made a soft launch in the U.S. via Amazon, where the reception of its products to date has been “positive.”

Looking further ahead, RevolutionRace intends to maintain its Ebit margin above 25 percent. It targets sales of at least SEK 2,000 million (€195.8m-$229.3m) for the fiscal year ending June 2024.