The Group registered a sales increased in every division of its business. The Norwegian clothing manufacturer has reported profit of €4.2m and EBITDA of €25m from €18m in 2009 (39% increase) but also the operating revenue rose 10% compared to 2009 €210.9m.
Commenting on the company’s financial result, CEO Peter Sjölander said: “Today we are a 350 million dollar business, but we see our brand as capable of much more. We see Helly Hansen reaching the billion dollar mark sometime during the next 5 years.”
The brand posted growth in more than 40 markets around the world with China and Canada the fastest growing markets in 2010. “Canada grew at a rate exceeding 30 per cent for each of the last three years, and the results from the 2010 introduction into the Chinese market surpassed company expectations,” reads the report. The 2010 growth in Norway – the company’s largest single market – reached almost 30 per cent.
Said Sjölander, who expects an equally positive outcome for 2011, added: ”Almost 80 per cent of our products for 2011 are already sold out. 2011 will definitely beat the 2010 record.”
Besides marine and technical sailing wear, Helly Hansen Group manufactures workwear, footwear, baselayer, sportswear, outdoor and ski apparel.