New Wave Group, the Swedish parent company of Craft, Seger, Auclair, Derby of Sweden, D.A.D. Sportswear and a total of nearly fifty brands in business, sports and leisure, gifts and home textiles, ended its fiscal year 2022 with net sales of 8.84 billion Swedish kronor (€793.1m), up 32 percent, or just over SEK 2.1 billion (€188.4m), compared to 2021. Operating profit was SEK 1.51 billion (€134.6m), half a billion SEK more than in 2021, resulting in an operating margin of 17.0 percent.
Last year was the company’s best year ever in terms of both net sales and profit, the group told habit.se. The company also put in a strong final spurt toward the end of the year. In the fourth quarter (October to December), net sales totaled SEK 2.82 billion (€253.0m), up 22 percent from SEK 2.31 billion (€207.2m) in the same period last year. Operating profit was SEK 547 million (€49.1m) compared to SEK 403 million (€36.2m).
Despite a troubled future, president and CEO Torsten Jansson said that the company can continue to grow organically. He is also no stranger to acquisitions, thanks to a “strong” balance sheet and an equity ratio of nearly 54 percent.
