Bygma Group, Denmark's largest family-owned building centre chain, has reported a net profit of DKK 481 million for 2024, a slight decrease from DKK 507 million in 2023. Despite the drop, CEO Peter H. Christiansen described the result as a "reasonable outcome", given the market conditions.
Revenue increased by 6% year-on-year, reaching DKK 10.67 billion, with gross profit rising to DKK 2.28 billion. The group's balance sheet and equity also saw healthy growth, supported by an increase in staff numbers to over 3,000.
A major factor in the group's mixed results was its acquisition of Polish firm AB Bechcicki, marking Bygma's first expansion beyond the Nordic region. However, shortly after the acquisition, the Polish operations were hit by an IT attack, causing major disruption. Christiansen noted it was a "hard and unpleasant start", but reaffirmed the group's appetite for international expansion.
Domestically, Bygma A/S saw solid performance, with revenue climbing to DKK 7.5 billion and net profit reaching DKK 273 million. Falling interest rates and a strong renovation market supported the gains.
Christiansen stated that Bygma continues to monitor opportunities in neighbouring markets and within Denmark, although he acknowledged that acquisition opportunities are limited due to recent industry consolidation.
Looking ahead, the company remains cautiously optimistic. Christiansen pointed to global uncertainty, particularly "the unrest created by the American situation", as a risk to short- and medium-term planning. Nonetheless, Bygma expects "continued revenue growth and stable earnings".
The group holds approximately 20% market share in Denmark and maintains its strategy of selective growth both at home and abroad.
Source: www.wood-supply.dk