The US shoe and sportswear supplier Allbirds Inc. increased its sales significantly in the 2021 financial year. At the same time, however, the loss was significantly higher than in the previous year. This emerges from current business figures, which the company published on Thursday evening.
According to this, the company achieved sales of 277.5 million US dollars (247.2 million euros) in 2021, which represented growth of 27 percent compared to the previous year and 43 percent compared to 2019. Allbirds was able to increase its sales in the USA by 26 percent to 209.8 million US dollars, in the international business sales increased by 29 percent to 67.7 million US dollars. The company justified the strong growth with the “strong demand in all markets and sales channels” and the introduction of new products.
However, higher special expenses and tax charges, as well as the cost of expanding space, which was fueled by the opening of 13 new stores during the year, pushed the company deeper into the red: the reported net loss grew by 75 percent from 25.9 to 45, $4 million (€40.4 million). However, the sports shoe specialist emphasized that it was able to make progress in the operating result. Adjusted for special items, loss before interest, taxes, depreciation and amortization (EBITDA) was reduced by 24 percent to $11.7 million, Allbirds said.
For 2022, management forecast sales growth of 28 to 32 percent to $355 to $365 million. Adjusted EBITDA is expected to be in the range of $9 million to $13 million. This includes costs related to last fall’s IPO of about $8 million, the company said.