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Helly Hansen posts record financial results

Norweigan-based outdoor clothing group Helly Hansen has reported a profit of NOK 33m (£33.4m) for the financial year to 31 December 2010.

The brand, which specialises in specialist outdoor and winter sports clothing and footwear, said that 2010 was its “best year yet” in terms of financial performance as EBITDA before restructuring costs jumped 39% from NOK 142m (£15.8m) in 2009 to NOK 197m (£21.9m) in 2010.

Operating revenue for 2010 rose 10% compared to 2009 to NOK 1656m (£184.3m). The group said that China and Canada were the two fastest growing markets for the business.

The 2010 introduction into the Chinese market is said to have “surpassed company expectations” while the company’s home market of Norway, which is also its largest territory, reached almost 30% year-on-year growth.

Peter Sjölander chief executive of the Helly Hansen Group said: “Helly Hansen is set to continue to grow: today we are a $350m business, but we see our brand as capable of much more.

“We see Helly Hansen reaching the billion dollar mark sometime during the next five years. The simple explanation is that we have become better at what we do. Sales increased across all our product categories, which includes workwear, footwear, baselayer, sportswear as well as technical sailing, outdoor and ski apparel.”


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