Rapala increased sales and profitability in 2019
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Rapala VMC Corporation increased its sales and profitability in 2019 compared to the previous year.
The Finnish lure giant this afternoon reported net sales of €275.4m (2018: €262.4m) for the year – up 5% (3% with comparable exchange rates) – and comparable operating profit up 7% from €16.7m to €17.8m. For the second half of the year, net sales came in at €134.2m (119.9m).
Its Chairman of the Board, President and acting CEO, Louis d’Alançon, told investors: “We achieved good results in 2019 and succeeded in increasing our profitability from 2018 as targeted.”
He added that trading during the year in most of the group’s markets were mainly as expected, with North America continuing a positive trend. “As anticipated after the first half of the year the second half was particularly strong in the region.
“In Europe, the changes in the Shimano and other third party distribution agreements caused slight uncertainties, but the Nordics and rest of Europe grew from the previous year.
“The growth in Europe was supported by the ramp-up of the group’s own distribution operations in some of the key central European markets.”
Net sales for the second half of the year by area were:
North America: €55.6m (€45.8m) – up 21%;
Nordic: €25.7m (€22.8m) – up 13%;
Rest of Europe: €35.3m (€33.5m) – up 5%;
Rest of the world: €17.6m (€17.8m) – down 1%;
TOTAL SALES: €134.2 (€119.9m) – up 12%.
Net sales for the year were:
North America: €104.2m (€95.4m) – up 9%;
Nordic: €56.6m (€55.1m) – up 3%;
Rest of Europe: €81.3m (€78.4m) – up 4%;
Rest of the world: €33.3m (€33.6m) – down 1%;
TOTAL SALES: €275.4m (€262.4m) – up 5%.