Helly Hansen Results Jump
Revenue improved 6% to NOK 2,661 million ($315.7 mm) from NOK 2,500 million following a 25% reduction in the product line while EBITDA rose 24% to a record NOK 204 million ($24.2 mm) compared to NOK 165 million, the company said in a release on the FY ended Dec. 31. The company also said it invested in sourcing, logistics, digital and retail while paying down debt, adding that its order book for 2017 is up, especially with strength in Europe and the Nordic region. Helly Hansen said gross margin expanded 150 b.p. to 42.9% and sourcing was brought in-house.
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