Helly Hansen, a Scandinavian-based technical apparel and sportswear brand, builds on its string of strong results with another record performance in 2011, and a record Q1 in 2012. 2011 EBITDA jumped by nearly 50 percent, following a 17 percent increase in revenues, to $275 million.
Q1 2012 revenues grew by nearly 15 percentâ€”with EBITDA increasing more than 300 percentâ€”due to a combination of revenue gains and improvements in process and cost. As macro economic conditions leave many in the industry struggling to maintain revenues, the Norwegian company stands out.
Helly Hansen continues to enjoy the benefits of the strategic overhaul launched four years ago. In 2011, the company's 2011 EBITDA jumped almost 50 percent, to $24.9 million. This was driven by strong results across key markets, including the United States and Canada, as well a stellar performance in the brand's home market. Sales rose 15 percent in Norway despite Helly's amicable split from the country's largest retail partner.
2012 continues to look strong with a record result in Q1 and an anticipated 16 percent increase in revenues for Spring 2012â€”a growth driven primarily by Asia, North America, and the Nordics. The company remains positive in its outlook for the full year and anticipates that 2012 will represent a third year of record results.
â€œ2010 was the turn-around year for Helly Hansen, reversing a pattern of negative numbers and beginning a trend of healthy growth and profits. While we are proud that 2010 set a new record and milestone for the brand, we're even more pleased to conclude that 2011 eclipsed that mark to become our new â€˜best year ever,'â€ said Peter SjÃ¶lander, CEO of the Helly Hansen Group. â€œYear after year, we are still becoming better at what we do, and the positive Q1 2012 results are further evidence that consumers are increasingly investing in our brand and business. We see Helly Hansen continuing on this positive journey toward the billion dollar mark.â€
A Winning Formula
â€The secret behind Helly Hansen's success is better operating efficiency throughout the entire value chain, along with insightful design and marketing investments that fuel brand heat,â€ said SjÃ¶lander.
Through a series of impressive new product innovations, Helly Hansen has received multiple prestigious awards. The Norwegian Design Council bestowed the Odin Fastpack with its prestigious Design Award. Outside magazine awarded the Odin Mountain Jacket with its highest designation, Gear of the Year. Gear Junkie singled out the new H2 Flow Jacket, based on the patent-pending innovation, Hollow Heat Flow, as Best in Show.
â€œThe company also received multiple â€Best in Testâ€ awards, particularly within its Training collection,â€ said Tor Jensen, vice president of category management.
Taking it to the Catwalk
This spring, the company also launched a compelling new communication campaign: the Helly Hansen Catwalk.
â€œThe campaign reflects Helly Hansen's brand positioning which focuses on Scandinavian design and the unwillingness to compromise between performance and style,â€ said Erik Burbank, vice president of marketing. â€œIt illustrates Helly Hansen's role as the world's leading Scandinavian-based technical apparel and sportswear brand serving professionals and enthusiasts.â€
â€œWe are thrilled that both our design and marketing teams are generating so much interest and excitement with our customers and consumers. Through marketing initiatives, we cement our brand positioning and invite consumers to engage in the Helly Hansen lifestyleâ€”and our award-winning designs,â€ said SjÃ¶lander.