Danish design company Hay reports a net profit of DKK 112.9 million for 2024/25, up 20.6% from the previous year, marking a rebound after last year's break in a three-year profit streak. Revenue remained largely stagnant, rising by only DKK 3 million (0.25%) to DKK 1.2 billion, well below the company's target of 1.22–1.27 billion DKK.
© Hay
The improved earnings were driven by tight cost control and sharper strategic prioritization, rather than workforce reductions, Hay employed an average of 201 full-time staff, compared with 204 the year before. Profit before tax reached DKK 145.2 million, exceeding expectations of 120–140 million DKK.
Hay's primary market is Europe, accounting for 799 million DKK of revenue, while Scandinavia contributed 372 million DKK and other regions 49 million DKK. Looking ahead, the company expects similar challenges, weak demand, intense competition, and cautious investment, but targets revenue of 1.2–1.3 billion DKK and pre-tax profit of 130–160 million DKK.
Source: Wood-Supply
