2016 has been an eventful year for WhiteAway Group and the company is once again in the black; The result after paid tax being 3,6m EUR. Likewise, the annual accounts display a total revenue which has grown from 174,8m EUR in 2015 to 221,9m Euro in 2016; of this 67,3m EUR is earned outside the borders of Denmark, which is more than a doubling compared to 2015. The staff has grown from 145 persons to 240 persons during 2016.

A satisfactory result

Group CEO, Johannes Gadsboell, describes the profit for 2016 as satisfying with this elaborating comment:

“Our focus for 2016 has been on international expansion and we are happy that our plan has succeeded. We have a really competent staff of employees, who once again have worked extremely hard to ensure that we have reached the level we have. Things move fast and not many weeks look alike – that put some high demands on our employees. Yet, when we pull together and are able to see the hard effort pay off, it is just amazing!”

Reinforcement through investments

During 2016, the group has reinforced both the direct B2C business as well as their B2B business via the Skousen franchise sales channel.

The B2C business has experienced a solid growth in both the Danish, Norwegian and Swedish market.

August 31st 2016 the Swedish competition authorities approved WhiteAway Group’s acquisition of the biggest Swedish online competitor, Tretti. The investment is seen as an important step towards the group’s vision of international expansion.

“With the acquisition of Tretti we have gained the critical volume needed to invest in the Swedish market contemporary with being able to maintain a positive profitability”, Johannes Gadsboell says.

At the same time, the group has experienced a reinforcement of the franchise sales channel; Both in the Danish and the Norwegian market. The established stores have experienced growth and a new range of stores have opened during the fiscal year. Johannes Gadsboell makes the following comment to this:

”We have now obtained a great basis in Norway and Sweden. It has been and still is a huge investment to obtain this position, but with 24 stores in Norway in 1½ year and a solid online business in Norway and Sweden, it is difficult not to see the opportunities in the long term. We are now able to conclude that our business model works; also beyond the borders of Denmark. In 2017, we must continue our international expansion contemporary with building a better platform and developing closer partnerships through  out the Nordic countries. Our main focus is and remains to deliver exceptional customer service and to meet the wishes and needs of our customers. The competition is stiff and the potential is huge, so I am pretty sure that we will not be bored.”  

For more information please visit www.whiteaway.com