A Danish furniture group has reported a post-tax loss of DKK 33 million for 2024, marking the worst financial result in its 115-year history. The loss, double that of the previous year, follows over a decade of consistent profitability and is attributed to "global uncertainty", weak sales in the US and Nordic markets, and heavy investment in IT and leadership restructuring.
© Carl Hansen & Søn
CEO of Carl Hansen & Søn, Knud Erik Hansen ,described 2024 as "a tough year" but stated 'we have reached the bottom, and now we are moving towards better times'. Equity fell to DKK 317 million, while the workforce was halved, mostly at the company's factory in Vietnam. Executive-level changes included the replacement of the COO, CFO, and marketing director. Hansen's son, Morten Hai Hansen, is expected to take over leadership, though no date has been set.
Despite setbacks, the company acquired lighting firm Okholm Lightning and furniture brand Getama, aiming to expand into lifestyle products across its global showrooms.
Carl Hansen & Søn, based in Gelsted, remains known for producing Wegner classics and is now repositioning itself for recovery and growth following what it calls "a bottoming out" year.
Source: www.wood-supply.dk