Rains Aps

Beskrivelse af usikkerhed ved indregning eller måling

Uncertainties connected with recognition or measurement
There are no significant uncertainties in the recognition and measurement of assets and liabilities other than conditions related to normal operating activity.

Beskrivelse af usædvanlige forhold, der kan have påvirket indregningen eller målingen

Unusual matters
There have been no unusual circumstances that have affected the company's activity during the financial year.

Beskrivelse af udviklingen i virksomhedens aktiviteter og økonomiske forhold

Development in activities and financial matters
During 2023 Rains continued executing on the 2027 strategy of creating a global lifestyle brand. The North American business grew by 41%. The strong growth in North America resulted in the share of global sales to increase to 18% in line with the strategy. In Europe the business was consolidated following years of strong growth. Inventory positions were improved and a new distribution center significantly improved logistical capabilities. Stores were opened in London and Berlin and showrooms and own sales organisations were established in Switzerland and Spain to accelerate sales. In Asia/Pacific stores were opened in Hong Kong and new distribution agreements were entered for Japan. The Rains brand continued to show up on the global scene, with fashion shows at Paris Fashion Week and with top celebrities such as Kim Kardashian, Lewis Hamilton and Billie Eilish being spotted wearing Rains. During 2023 existing product lines were upgraded and several new important product lines introduced. The TEXEL line of travel bags was introduced and within the outerwear category, LOHJA, a line of light thermal transitional jackets was introduced as a pre-launch in Q4. Both product lines showed solid sales performance and continue to gain traction. Building a platform for future growth remained a key focus. The organization was further strengthened and the work to replace the legacy IT system continued. During 2023 the company in average employed 157 people. The construction of the new Rains HQ in Aarhus progressed as per plan with expected completion by October, 2024. Net sales increased by 11%. The wholesale channel increased by 7% and net sales on e-com and retail increased by 12% and 21 % respectively. Net profit before tax amounted to 72.391t DKK vs. 64.470t DKK, equal to a profitability of 12%. Cash-flow from operations improved to 41m DKK and investments increased to 109m DKK, due the on-going construction of the company’s new HQ, new IT system and expansion in the markets. The investments will secure the infrastructure for the future growth of the company. Despite the high investments and asset base in the company the Solvency ratio ended at 31%. This was a result of managing the net working capital and growing the Equity to 141.564t DKK.

Omtale af betydningsfulde hændelser, som er indtruffet efter regnskabsårets afslutning

Events subsequent to the financial year
There are no significant events other than conditions related to normal operating activity.

Beskrivelse af virksomhedens forventede udvikling

The expected development
The expectations for 2024 is to deliver continued growth across all regions and sales channels resulting in improved financial results. The North American region is expected to continue to contribute significantly to the growth of the company, as investments in structures and organization have been made over the last 18 months. Significant brand moments are planned for in 2024, amongst this store openings in New York and Milan and a brand launch in both Japan and South Korea.