Rapala VMC OYJ reports revenue increase, profit growth, and optimistic outlook for full year

From GlobeNewswire: 2024-07-24 10:00:00

Rapala VMC OYJ published their half-year report for January-June 2024. Key figures include a revenue of 120.5 million EUR, up 2% from last year, and a net profit of 11.2 million EUR. The company expects full-year profitability to increase. CEO Lars Ollberg emphasizes the strength of the Rapala brand and market presence in North America and Europe. The company’s “One More Turn” strategy aims to improve profitability and customer focus. The company also saw success with new product launches like Rapala CrushCity. In terms of financial results, the company reported a 2% revenue growth on a reported basis and 3% growth on a comparable basis. In North America, sales increased, particularly driven by new product releases like Rapala CrushCity. Europe saw sales growth as well, supported by new products and early season deliveries, while other regions faced challenges due to macroeconomic headwinds and cautious consumer behavior. The overall financial results showed increases in both reported profit and comparable profit margins for the company.



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