The Swix Sport Group raised its sales by 10.1 percent to 759 million Norwegian kroner (€92.0m-$126.8m) in 2013 as compared the previous year, and its operating profit before amortization (Ebitda) grew by 38.6 percent to NOK 70.7 million (€8.57m-$11.81m).
The good results were mainly due to strong organic growth in Sweden, Norway and Germany, despite a relatively modest winter in all markets. The increased focus on Sweden, where the company distributes Swix products through Lundhags' organization, has been very successful. Swix bought Lundhags in 2012.
According to Swix' chief executive, Ulf Bjerknes, who confirmed a report in the local press, the Norwegian group continued to perform strongly in the markets of central Europe, with Germany and Switzerland showing good growth for the group's brands - Toko, Swix and Lundhags.
Norway represented about 52 percent of total revenues in 2013, up from 50 percent in 2012, but Bjerknes said that the group's international growth is in line with the current strategy. He also said that he has a goal of creating a company that can emerge with good profitability in years with mild winters, thanks in part to an expanded product line for the outdoor market and its diversification into roller skis through last year's acquisition of Pro-Ski.
Other projects are the construction of a new factory in Lithuania and a new production and logistic center for Swix in Lillehammer, Norway, which should come on stream by January 2016. According to Bjerknes, the new Lithuanian plant will replace the company's older aluminum factory in Estonia, which the company has outgrown, and will be the most modern one in the world, measuring about 5,200 square meters.
