Record turnover for Zound Industries, with continued global expansion
Zound Industries remains steadfast on its growth journey. 2017 proved to be yet another record year for the company, with annual turnover hitting SEK 1.4 billion (€136 million). Increased sales were impacted by the company’s expansion on both new and established markets.
Net sales for the 2017 fiscal year amounted to SEK 1,403 million, equivalent to an increase in 35% (SEK 363 million) on 2016. An operating profit of SEK 61 million was reported for the fiscal year, an increase from SEK 13 million in 2016. EBITDA amounted to 105 MSEK (7%).
“To achieve increased growth and profitability year on year in an incredibly competitive market is an enormous achievement. A clear vision, fantastic products and fruitful collaborations ensure Zound Industries heads into the future as a successful, well-equipped company,” Tommy Jacobson, Chairman of the Zound Industries Board, stated.
Zound continues to be a leading player in its core market, growing faster than the headphone and speaker sector as a whole. Over the course of the year, the company has released various new products onto the market, including an updated wireless version of best-selling Plattanheadphones, and fortifying its speaker portfolio with Wi-Fi speakers from both Marshalland Urbanears.
“Zound is a company with fantastic, engaged employees who continuously deliver incredible work. Throughout 2017, we launched a series of key products which further strengthened our position in established markets, while witnessing an increased interest and considerable growth in markets with enormous potential, such as Russia and China,” stated Pernilla Ekman, CEO of Zound Industries.
Over the course of the year, Zound has witnessed positive growth in Asia, particularly in China. The office in Shenzhen has strengthened its offering with an e-commerce team, and the company also opened a sales office in Hong Kong. In addition, markets where Zound is already well-established, such as Germany and France, have boasted strong growth. The company additionally opened an office in Paris in early 2017.
The 2017 Annual Report will be published in its entirety later this spring at the Zound Industries International AB annual meeting.