The retail group Fenix Outdoor International AG was able to achieve strong growth in sales and earnings in the first half of the 2022 financial year. This emerges from an interim report published on Thursday by the Swiss-based parent company of the Hamburg specialist retailer Globetrotter Geräte GmbH.
The group of companies achieved sales of EUR 331.1 million in the months from January to June, exceeding the level of the same period of the previous year by 29.4 percent. In Germany, the Group’s most important individual market, sales even rose by 49.0 percent to 118.0 million euros. This was not least due to the fact that, unlike in the previous year, business in the stores was not affected by temporary lockdowns.
Fenix was also able to increase earnings significantly: Operating profit improved by 28.9 percent to 28.1 million euros, net earnings attributable to shareholders jumped by 77.9 percent to 21.7 million euros.
A strong second quarter contributed to the significant growth: In the months of April to June, group sales amounted to EUR 165.9 million, which corresponded to an increase of 28.9 percent compared to the same period of the previous year. The operating profit rose by 42.5 percent to 10.4 million euros, the surplus attributable to the shareholders was 9.0 million euros, more than three times as high as in the same quarter of the previous year, when it was 2.6 million euros.
However, Executive Chairman Martin Nordin was cautious about the coming months: He assumes that the supply chains “will not fully recover before the middle of next year,” said the CEO in a statement. The company is reacting to this by building up larger inventories and planning to get back into production itself and to acquire or build corresponding manufacturing capacities near the main markets of Europe and North America, according to Nordin. The aim is to “manufacture ten to twenty percent of all articles in these regions ourselves” in the future.