Kitchenlab, the Swedish kitchen equipment company, has reported its strongest financial results to date, reversing previous losses with a significant turnaround in 2024.
© The Kitchen Lab
Net sales rose by nearly 25 percent to SEK 62.5 million, compared with SEK 50.3 million in 2023. This marks a record for the company, surpassing its earlier pandemic peak of SEK 51.7 million. Operating profit shifted from a loss of -3.7 million SEK in 2023 to a positive 1.9 million SEK in 2024.
Chief executive Oscar Asplund credited the improvement to "careful management towards profitable growth" despite challenging conditions in the Swedish consumer market. 'We end the year with a positive operating result,' he said, highlighting the resilience of the business.
E-commerce now represents around 50 percent of total sales, with Kitchenlab shipping to 43 countries in 2024. Its international platform has attracted both new and returning customers through "fast deliveries, unique products and engaging customer experiences."
The company also operates physical stores in Stockholm and Malmö, accounting for 40 percent of turnover, while 10 percent comes from direct sales to professional clients, including deliveries to all Michelin-starred restaurants in Sweden.
Kitchenlab AB has been part of Online Brands Nordic AB since 2022.
Source: www.ehandel.se
