Hilding Anders has experienced strong growth during the past 12 years, mainly deriving from extensive acquisition activities and through growth with major Group key accounts. In mid-2011 the Board of Directors initiated a change in the strategic direction, which has led to multiple initiatives thereafter.
The company strategy of ‘Grow-Fix-Create’ has been implemented and the journey to become a more integrated company begun. The highlight for 2013 was the successful refinancing of Hilding Anders providing a financially stable environment for the coming years. On the operational sides several highlights could be noted:
- Askona selected for 2nd time as “most trusted brand” by Russian end consumers
- Acquisition of Carpe Diem Beds adding a Swedish premium brand to our boxspring portfolio
- CUREM re-launched on European basis in six countries
- Investing into our boxspring plant in Hurup Thy, Denmark
- Optimizing manufacturing footprint in Czech Republic, the Netherlands and Denmark
- Revitalizing our retail strategy in China
- Revitalizing our French brand André Renault with new product assortment & sales strategy
- Selling our UK manufacturing assets in Huntingdon to the Steinhoff Group
Overall, Group net sales grew with 6% compared to last year and at constant currencies. While Europe was flat we continued to see a favorable net sales development in Russia and Asia. Russia continues to be the Groups’ largest markets, followed by France, Switzerland and Sweden.
The Group’s top ten customers are equal to roughly 40% of net sales and we continue to have a rather balanced sales split between brands and private label concepts.
The financial development mirrors the effect of the economic downturn in European markets in general while emerging markets are growing rapidly in importance for the Group. The net sales figures are pro forma and currency adjusted.