Zound showed progress in a challenging year
In a year marked by the pandemic net sales for Zound Industries amounted to 1,756 MSEK in 2020, down 12% from 1,997 MSEK in 2019. Operating profit for the full year, was positive at 9.4 MSEK.2020 was a year of highs and lows for Zound as the global COVID-19 pandemic presented many challenges. Demand dropped when key markets introduced restrictions in the early spring and once demand started to recover in the middle of the year, component shortages and logistic challenges hit the electronics industry and impacted Zound’s product availability. These challenges are expected to continue