Zound delivered best ever performance in 2021
2021 marked a new all time high for challenger audio electronics company Zound Industries. Net sales increased by 23% to 2 152.5 MSEK and operating profit increased to 132.4 MSEK, equivalent to an operating margin of 6.2 percent. The best year ever in the history of Zound, despite continued supply chain challenges.
Zound is a global audio electronics company and the powerhouse behind the Marshall, adidas and Urbanears speakers and headphones brands. The company is on a mission to become the #1 alternative and challenger to the traditional players in the industry, and its 2021 financial results have set the tone for success.
“We’re only just starting to unlock the true potential of Zound. The team continued to challenge the status quo in the industry, and we’ve demonstrated that we can adapt quickly to capture consumers’ demand by bringing life to sound through our portfolio of brands”, comments Jeremy de Maillard, CEO at Zound.
The company has defined a bold ambition and clear strategy for its next chapter of growth, with product and digital at the core, supported by a focus on innovation, sustainability, diversity and inclusion.
2021 key highlights include the successful launch of six new true wireless headphones and an acceleration of digital sales with Zound’s own e-Commerce up by 26%. Zound continued to phase out virgin plastics and extend product lifetime. The commitment to D&I showed in recruitment throughout the year, adding the most diverse pool of talent yet, all the while elevating the knowledge about D&I across the organization.
Zound also successfully put in place a series of strong demand planning and agile sourcing measures to navigate and counter the supply challenges caused by the pandemic.
“We have learned a lot over the last two years, when it comes to navigating the pandemic and the global supply challenges, as well as improving our ability to meet demand and build financial resilience. We now have a strong financial position that will help us deliver on our ambition over the coming years”, said Martin Axhamre, CFO & Deputy CEO at Zound.
Performance was particularly strong in the fourth quarter with net sales rising to 953.8 MSEK, an impressive 62 percent increase from the same period last year. This successful last quarter was a major contributor to Zound delivering its best performance ever, both in terms of revenues and profits.
“We delivered the best year in the history of Zound, an important step that validates our ambition and strategy for the next five years. I’m proud and inspired by everyone at Zound for living our values every day, bringing outstanding products to life, and futureproofing our business for years to come,” comments Jeremy de Maillard, CEO at Zound.
The full 2021 Annual Report will be published before the AGM later this spring.