Scandinavia’s largest wholesale company for non-food products presents excellent financial results
Wholesale company Schou Company’s long-term investments have been generating excellent results since 2017. The company’s newly published financial statements for 2021 were no exception, showing top-line and bottom-line growth.
Schou Company, Scandinavia’s leading wholesale company for non-food products, is looking forward to relocating to new and bigger headquarters in 2023. Another year of growth with 70 new employees means the company is short of space in Kolding.
“Schou Company has come out of 2021 bigger and stronger,” said CEO, Gotfred Christiansen.
“It's great to see that our long-term investments in our business, employees and partner relationships are delivering measurable results again this year,” he added.
Strong top-line and bottom-line growth
It is not just the number of employees that has skyrocketed at Schou Company. Turnover was DKK 2.1 billion in 2021, a 27% increase compared to 2020.
The bottom line also grew strongly, with a pre-tax profit of DKK 203 million, which is significantly more than 2020’s figure, which was however negatively impacted by extraordinary circumstances. According to Gotfred Christiansen, much of the growth is the result of strategic focus on long-term investments:
“We want to provide a strong value proposition to our customers and ensure that we can meet their requirements,” said Gotfred Christiansen.
“That's why we have invested over a long period of time in product development, product quality and compliance, as well as in the skills needed to raise the level of the respective areas,” he explained.
The strong financial results for 2021 meant that the company’s employees earned their maximum bonuses of an extra half-a-month’s salary.
“It's a very well-deserved bonus. Everyone has shown tremendous commitment and flexibility during a period that had many external challenges,” said Gotfred Christiansen.
Collaborating their way through the supply crisis
In 2021, turnover was once again impacted by the coronavirus pandemic, with consumers shifting their spending activities from services to physical consumption. This gave a boost to many of Schou Company’s largest customers, which had a positive impact on the wholesale business. And despite the global supply crisis, Schou Company was able to deliver virtually everything that was ordered, with only a few delays.
“We were able to draw on some long-term and excellent supplier relationships, and through close dialogue and supplier contact, we were able to get manufacturers to keep to agreements, get goods shipped home on ships, etc,” said Gotfred Christiansen.
“The teamwork succeeded completely, and the excellent financial results are largely the result of everyone pulling together and delivering despite the external challenges,” he concluded.