ScanCom continues strong financial and Operational growth
ScanCom International A/S has just announced its yearly financial figures for season 2015/16 at its General Assembly held in Denmark on November 24, 2016.
Relative to the season before, the top line has increased by 2% in an uncertain market, whereas the operational result – EBITDA – improved by 45%, calculated in the local reporting currency in Denmark. The company has increased sales to several customers and also entered into new strategic partnerships. ScanCom’s own brand – LifeStyleGarden – also continues to grow.
. Relative to the season before, the top line has increased by 2% in an uncertain market, whereas the operational result – EBITDA – improved by 45%, calculated in the local reporting currency in Denmark. The company has increased sales to several customers and also entered into new strategic partnerships. ScanCom’s own brand – LifeStyleGarden – also continues to grow.
According to Group CEO, Stig Maasbøl, the figures are slightly better than expected. They are a result of strong operational improvements in several of our factories, a better product and sales mix, but also due to the fact that the company has taken advantage of the raw material price development by early procurement and financing last season.
Our focus is to increase our performances in everything we are doing without compromise to our values – Doing Business the Right Way – and we plan to continue this positive trend within all factors we are able to manage ourselves.
Unfortunately, we are not able to control the weather, raw material prices and currencies, all extremely important for our business, but we will continue to secure high quality product development, dedicated investments and continuous improvements in our factories.
Mr. Maasbøl continues to highlight that percentage growth can be impressive, but we have to bear in mind that we are comparing to a relative low level of the past few seasons.
ScanCom has recently opened a new and impressive “European Design & Commercial Centre” in Mallorca, including a major show room, and we will in the coming seasons continue to reap the full benefit of this initiative, together with the show room in Las Vegas and the main global setup in Ho Chi Minh City.
In the future ScanCom will move away from attending global exhibitions, but instead focus on meeting our customers and partners in their respective markets and in our upgraded in-house showrooms.
Further to above, we will continue to invest in new technologies, processes and an innovative product collections, combined with add-on production capacity and education of our dedicated ScanCom staff.
The financial expectation for the current 2016/17 season is expected slightly below last season, mainly due to increased raw material prices.About Scancom
ScanCom is a leading furniture manufacturer, making outdoor furniture in hardwood, teak, painted wood, aluminium, steel and wrought iron, as well as cushions, parasols and a new indoor furniture range. ScanCom has ten subsidiaries located on three continents, with production operations in Vietnam, Indonesia and Brazil, as well as sales offices in the UK, Germany, Spain, Vietnam, Hong Kong and the US. The company employs up to 4,000 people directly and creates approximately 7,500 jobs at subcontractors. ScanCom is recognised for setting the highest environmental standards in the industry.