A Danish furniture house has reported a deficit of DKK 4.6 million after tax for 2024, marking the second year in a row of negative results. The Horsens-based company attributes the losses to significant investments in new stores in Copenhagen and Aarhus, renovation of its Horsens premises, the launch of a Design Market, a new webshop, and marketing initiatives aimed at improving its omnichannel strategy.
© Jacobsen Plus
CEO and major shareholder of the company, Jacobsen Plus, being Peter Jacobsen described the losses as a "calculated deficit," highlighting that the investments were designed to accelerate growth. Troels Holch Povlsen, Bestseller founder, who owns 49 per cent of the company through Nine United, contributed to a DKK 8 million equity injection last year. Jacobsen noted that the partnership enabled the company to achieve in two years what might otherwise have taken a decade.
Jacobsen Plus, which retails exclusive brands including &Tradition, has seen gross profit rise to DKK 16.4 million in 2024, up from DKK 15.3 million in 2023. The company expects to return to profitability in 2025, projecting a modest profit of DKK 0–5 million. Prior to 2023, Jacobsen Plus had not reported losses since 2011, reflecting a historically positive financial track record.
Source: www.wood-supply.dk
