A Danish DIY chain recorded another strong year in 2024, achieving revenue of DKK 4.24bn and a pre-tax profit of DKK 587.8m, up nearly 20% from the previous year. Despite five unplanned store openings, the company maintained an operating profit margin of 12.5%, among the highest in the sector.
© Jem & Fix
CEO of Jem & Fix, Claus Petersen.
CEO of Jem & Fix, Claus Petersen, attributed the success to a disciplined focus on core strengths. 'We do what we are good at. And then we refrain from doing what we are not so good at,' he stated. Price leadership remains key, with the chain named Denmark's cheapest DIY retailer for the ninth consecutive year, according to PriceRunner.
Owned by Harald Nyborg and the Daell family, Jem & Fix avoided pricing pressure in 2024, despite broader market instability. Petersen noted that "most have concentrated on navigating uncertainty and securing stock rather than engaging in price battles."
The company responded to brand awareness gaps in the capital region by opening five urban stores, reviving a previously shelved "city concept". The stores cater to local demand, focusing on lighter goods such as tools, paint and accessories rather than heavier building materials.
With 138 stores across Denmark, expansion remains on the agenda. The company is eyeing 18 new locations, primarily in Zealand. While no major strategic shifts are planned, Petersen acknowledged rising competition: 'We have been taking shares for a number of years now, and it is not certain that our competitors think it is so cool.'
For 2025, Jem & Fix forecasts revenue of DKK 4.5bn and a net profit of DKK 380m. Petersen summed up the outlook modestly: '2025 has started off well. So I guess it will be another honourable year.'
Source: www.wood-supply.dk