Helly Hansen Reports Strong Performance for 2007

In the midst of major re-structuring, including new owners and changes in management, Norwegian-based Helly Hansen delivered a strong financial performance in 2007. The Helly Hansen group reported profits of NOK 120 million ($23 million) up from NOK 43 million ($8 million) in 2006. Pre-orders and early bookings indicate an even brighter 2008 for the sport and utility wear company.
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In the midst of major re-structuring, including new owners and changes in management, Norwegian-based Helly Hansen delivered a strong financial performance in 2007. The Helly Hansen group reported profits of NOK 120 million ($23 million) up from NOK 43 million ($8 million) in 2006. Pre-orders and early bookings indicate an even brighter 2008 for the sport and utility wear company.

“We have just completed a very good but also a very intense year,” says Helly Hansen CEO Peter Sjölander. “Being able to profitably grow our business during a year when we more or less completely overhauled our entire business is a testimony to the strength of the Helly Hansen brand and its people”.

During 2007 the entire Helly Hansen group underwent major re-structuring, including the consolidation of all Helly Hansen's U.S. and Canadian operations. Helly Hansen SPORT AS re-focused its product range against its historical core segments of high performance Water-, Winter- and Outdoor Sports products. Helly Hansen PRO launched a number of new products with the new SEA-AIR survival suit, nominated to the Honours Award for Design Excellence by the Norwegian Design Counsil, leading the way. Within the work wear segment, Helly Hansen PRO landed a number of major new customers and is set for further expansion during 2008.

Based on expected business growth, pre-orders for spring 2008 and early bookings for the second half of the year, 2008 seems to be another strong year for Scandinavia's biggest and Norway's only truly global sports brand, estimating a 12 percent increase in turnover for 2008.

In 2008 Helly Hansen is heavily involved in the 10th Volvo Ocean Race, supplying the two Ericsson boats with high performance sailing gear. Parallel to this Helly Hansen's PRO AS will roll out its new SEA-AIR survival suits that significantly increase the safety for thousands of professionals making their living in extreme environments.

“No other brand in the world can match our track record in terms of supplying professionals and athletes alike with gear that keep people alive in mother nature's harshest conditions,” Peter Sjölander says.

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