Sæther Nordic A/S

Beskrivelse af virksomhedens væsentligste aktiviteter

The Group's main activities are the sale and marketing of perfumes and cosmetic products to the Nordic market.
The main activities of the parent company are supply chain, IT, group management, finance, controlling and administration for the Group's subsidiaries.

Beskrivelse af udviklingen i virksomhedens aktiviteter og økonomiske forhold

The income statement for 2024 shows a profit of DKK 22,979 thousand against a profit of DKK 31,685 thousand last year, and the balance sheet at 31 December 2024 shows equity of DKK 195,569 thousand.
Developments during the year are considered less satisfactory, as the result is lower than 2023, which was the target set forth in the outlook for 2024 in the annual report for 2023. Net sales target is achieved showing +3% vs. 2023 in line with expectations.
The lack of meeting the outlook for 2024 is primarily due to cost overspend under other external expenses, which the increased net sales and gross profit have not been able to compensate fully.
Financial review parent company
The parent company incurred a net profit after tax of DKK 22,979 thousand, affected by the same events which impacted the group figures.
No facts or events occured in the parent company during the financial year which are not reflected in the management report for the Group.

Omtale af betydningsfulde hændelser, som er indtruffet efter regnskabsårets afslutning

The Group and the subsidiaries in Denmark, Sweden and Norway have lost the distribution rights for a larger portfolio of brands from 1 July 2025. This will have a negative impact on net sales and earnings in 2025, which will be partly compensated for by cost savings. The lost distribution rights will decrease capital tied up in inventory and will as such have a positive impact on the company’s working capital. The lost rights will also decrease the number of employees in the Group.
SÆTHER has signed a new leasehold agreement for their new operations- and warehouse center in Espergærde planned to be ready from Summer 2026. The new O&W center is expected to bring cost synergies and less emissions from transportation, as we will be moving from 3-4 warehouse locations into 1.
Except for the above, no events materially affecting the Group's and the Company's financial position have occurred after the financial year end.

Beskrivelse af virksomhedens forventede udvikling

Due to the above-mentioned loss of distribution rights from 1 July 2025, net sales are expected to decrease by 10-15% in 2025. As net sales decrease happens earlier than we can decrease costs due to timing, severance payments etc., we are expecting a loss around -15 to -25m DKK in 2025. The lost distribution rights are expected to decrease capital tied up in inventories and by this have a positive impact on the company’s working capital and NIBD in 2025.
A big part of the above loss comes from timing, and as the SÆTHER Group and the subsidiaries in Sweden and Norway have obtained the distribution rights for another large portfolio from 1. January 2026, we expect to be back on the numbers of 2024 in 2026.