Zound delivers another record-breaking quarter
Stockholm, 20 September 2022: Zound fuels momentum by delivering another record-breaking quarter to round off a very successful first half of 2022, despite the challenging economic climate. Net sales for the second quarter of 2022 amounted to MSEK 723.4, an increase of 90 percent compared to the same period last year. In the first six months of 2022 Zound delivered revenue growth of 101 percent, with total sales reaching MSEK 1 279.1, while showing record profitability.
After a series of successful product launches, an increasing demand on all key markets and an improving supply situation, Zound has managed to deliver another great quarter and the best first six months in the company history. Zound is actively balancing its business in context of the macro-economic backdrop and with regards to the fact that Zound’s turnover is stronger during the second half of the year. This positive momentum with record profits in the first half of the year has further strengthened Zound’s financial situation, with healthy inventory levels and strong sell-through across all channels and regions.
“Our current momentum, given the challenging economic climate, is driven by our relentless focus on our ambition and strategy built on innovative products, strong brands, unique culture, and ability to make the best out of all the things we can control. The level of talent at Zound is inspiring and everyone’s hard work is being recognized by higher consumer demand for our products and market share gains across the world.” says Jeremy de Maillard, CEO at Zound.
During Q2, Zound made a series of successful product launches across all three brands. Urbanears launched the Urbanears Boo, true wireless headphones made from over 90% recycled plastics. adidas Headphones teamed up with world-famous musician/basketball aficionado Quavo on a limited-edition collaboration that sold out in only a few hours, showing Zound’s capability to unite sports and music without compromising on quality, sound, and design. Marshall launched the Homeline III – a new, vastly improved, and software infused, version of the home speaker line, as well as the portable speakers Willen and Emberton II, to further strengthen the product portfolio and continue the celebration of Marshall’s 60th anniversary.
According to recent market data reports, Zound is starting to take significant market share from the traditional/bigger brands and is growing double-digits across all channels and on key markets, despite limitations in product availability as well as supply chain issues directly related to the pandemic.
“Despite the challenges on a day-to-day basis and frequent production and supply chain issues, we have managed to revitalize our offer and continue to strengthen our partner relationships, which is essential for us. There is currently a better balance between demand and supply, and we see an extraordinary increase of interest in our products. Zound has been profitable from the first month of 2022, which gives us a very positive outlook for the full year”, says Martin Axhamre, CFO and Deputy CEO at Zound.