Danish design furniture manufacturer Fritz Hansen has finally come through the financial crisis aftermath. The company’s latest financial statements for 2015 shows a turnover of 560 million DKK, which is 17 per cent more than the previous year, and a profit before tax of 108 million DKK, which represents a doubling compared to 2014 and counts as the best result in Fritz Hansen’s 144 year old history.
The highly satisfactory accounts are the result of several years of dedicated efforts to raise earning power. The measures taken have included new product development and strategic acquisitions.
Most of the growth comes from the Far East and North America. Fritz Hansen has had 47 per cent growth in the Far East in 2015, which, inter alia, is due to the opening of new flagship stores in Hong Kong, Singapore, Jakarta and Seoul.
The North American market has also performed well in 2015 with a growth of 39 per cent Here, the growth is driven by contract orders for large enterprises and public buildings with both Fritz Hansen classics and new designs. The improvement in the US market comes from long-term work with American architects, who, to a greater extent than previously, have been disclosed to Fritz Hansen’s design and brand.
Finally, the European markets have also delivered results above expectations. This applies not least to Northern Europe, where the growth, which is 10 per cent higher than the previous year, shows that there are still many opportunities for Fritz Hansen in neighboring markets.
Tel.: +45 4817 2300