Record revenues for Zound Industries after a busy year
2019 was an all time high for Zound Industries with total revenues breaking the 2 billion barrier, an increase of 8 percent compared to 2018. The operating profit adjusted for items affecting comparability amounted to MSEK 44.3 for the full year.
It was a busy year for Zound Industries with, among many other things, the launch of the first products under the adidas brand, a generation shift in speakers and preparations for a possible IPO that has since been suspended. Total revenues for the year increased 8 percent to MSEK 2,008.2. Adjusted for items affecting comparability the operating profit amounted to MSEK 44.3 (MSEK 91.0).
“The entire team has worked really hard to deliver yet another year of profitable growth during a very busy period for the company. With the exit-process suspended, we are now fully focused on continuing to improve on our product portfolio and strenghtening our brands”, said Martin Axhamre, CFO and acting CEO.