Helly Hanson remains a brand of choice for superyacht owners, guests or crew who need the right sailing gear and outdoor clothes for their boating experiences – and the Scandinavia-based brand is rising to these challenges according to its latest figures.
The Norwegian technical apparel and sportswear manufacturer is experiencing great success, in despite of the current economic climate. Following the brand’s record perfomance in 2011, it has enjoyed further success in 2012.
In 2011, the company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) jumped by nearly 50% following a 17% increase in revenues. This brought Helly Hansen’s revenues to $275m.
“2010 was the turn-around year for Helly Hansen, reversing a pattern of negative numbers and beginning a trend of healthy growth and profits,” said Peter Sjölander, CEO of the Helly Hansen Group.
“While we were proud that 2010 set a new record and milestone for the brand, we’re even more pleased to conclude that 2011 eclipsed that mark to become our new ‘best year ever’.”
This year’s figures promise even more success for the brand. Its first quarter revenues grew by nearly 15% with EBITDA increasing over 300%. This was driven by “a combination of revenue gains and improvements in process and cost,” says a report by Helly Hansen.
The firm anticipates a further 16% increase in revenues for Spring 2012. This growth is driven primarily by Asia, North America and the Nordics. Helly Hansen looks set to enjoy another record year in the remainder of 2012.
The firm’s Watersport Vest buoyancy aids, broadshorts and swim trunks are among Helly Hansen’s products which are popular in the superyacht industry.
“Year-by-year we are still becoming better at what we do, and the positive first quarter 2012 results are further evidence that consumers are increasingly investing in our brand and business,” said Sjölander.
“We see Helly Hansen continuing on this positive journey toward the billion dollar mark.”