Press Release - 19.10.2023 - 08:55
Actona Group delivers record revenue in a difficult market
Actona Group presents a very satisfying result for the financial year 2022/23 despite a challenging and changing market characterised by inflation, cost increases, and geopolitical uncertainty.
Through structural synergies, cultural integration, and employee dedication, the furniture company Actona Group has demonstrated extraordinary resilience and adaptability throughout the fiscal year. The company delivers a record high revenue of DKK 2.86bn which is a six percent increase compared to the latest financial year. In addition, EBITDA of Actona Group increased by 11 percent compared to the latest financial year and amounts to DKK 288.1m.
"Our ability to thrive in the face of market uncertainty reflects our unwavering dedication to our strategy and principles. We have demonstrated that we can adapt to changing circumstances while maintaining our commitment to our customers, employees, and shareholders," says Group CEO of Actona Group, Jimmi Mortensen, who describes this year’s result as very satisfying given the difficult market conditions.
Earnings before interests and tax (EBIT) in the financial year 2022/23 amounted to DKK 203.5m, which is below last year’s result. EBIT was especially influenced by Actona Group’s uncompromising focus on the important post-merger integration of the new upholstery productions with SITS and Flexlux brands in Poland and Lithuania respectively.
"Our commitment to integration upon the last years’ acquisitions has been key in our ability to adapt and excel during uncertain times," Jimmi Mortensen says.
Actona Group has prioritised investing in post-merger integrations to harness essential synergies across the organisation. This focus on the integration addresses both hard and soft factors which collectively contribute to the organisation’s common goals.
“Optimisation of structural synergies for efficiency as well as nurturing an inclusive culture and employee well-being will help ensure continued profitable growth and success for all stakeholders,” says Jimmi Mortensen.
Sustainability progress
Alongside navigating tough market situations, Actona Group continuously progresses in the work of sustainability related to e.g., sustainable production, responsible procurement, and circular products. During the fiscal year of 2022/23, Actona Group committed and signed up for the Science Based Targets initiative and managed to reduce 22 percent of the emissions across the organisation related to Scope 1 and 2 emissions. Additionally, the Scope 3 emissions have been mapped and an inventory screening has been conducted based on financial data.
“Actona Group invests in a sustainable future for both the organisation and the environment. We want to ensure a healthy business for our customers, suppliers, and employees as well as our surroundings. We will maintain our focus on sustainable development, as it is an important element in our ongoing strategy ‘Towards sustainable business’,” Jimmi Mortensen stresses.
Fiscal year 2023/24
For the coming fiscal year, Actona Group expects an ongoing challenging and dynamic market. The organisation remains dedicated to the strategic goals as well as to harnessing synergies across operations and strengthening cultural integrations across mergers and acquisitions.
“Our employees are our most valuable asset. Their commitment, resilience, and pursuit of excellence have been the driving forces behind our success in a time of change. Despite the challenges, we believe in our strategic journey and will maintain a strong focus on our goals,” Jimmi Mortensen concludes.
