Flying Tiger Copenhagen posts strong revenue growth in 2016
April 12, 2017
Zebra A/S, the parent company of the Flying Tiger Copenhagen stores, reports 20% growth in revenues, driven by 160 net store openings in 2016. By the end of 2016, the group consisted of 745 stores in 30 countries.
In 2016 Zebra A/S reported revenue of DKK 4.3bn, corresponding to a growth of 20% compared to 2015, and an adjusted EBITDA of DKK 443m, corresponding to an adjusted EBITDA margin of 10.4% (DKK 498m and 13.9% respectively in 2015).
The lower adjusted EBITDA compared to 2015 was mainly driven by adverse foreign exchange movements (primarily the GBP with an estimated negative effect of DKK 50m), continued investments in the corporate backbone to support future growth as well as an upgrade of organisational capabilities.
The year was, however, also negatively affected by product availability issues and the need to rebalance our product offering towards lower price points. Overall the result did not meet expectations.
“Zebra experienced another year of top-line growth driven by appetite for opening stores amongst our partners but, more importantly, a record number of valued customers entered a Flying Tiger Copenhagen store, to explore our great product assortment.
We have launched initiatives to enhance the focus on realising the group’s potential, with focus on driving sales, leveraging operational scale as well as strengthening the corporate backbone. Amongst other initiatives, we have taken actions to increase the share of lower product price points in our assortment to underline our focus on affordable products and enhance our value for money proposition,” said interim CEO Michael Hauge Sørensen.
About Zebra A/S
Zebra A/S, the parent company of the Flying Tiger Copenhagen stores, is a rapidly expanding variety retailer founded in Denmark. Our stores offer new, fun and useful products at affordable prices, which are marketed internationally under the Flying Tiger Copenhagen brand name. With the addition of 160 net store openings in 2016, the Group reached a total of 745 stores in 30 countries across Europe, Asia and the US by the end of 2016.
Working continuously with innovative design and product development, up to 300 new products are introduced every month. Our product categories include home, toys, hobby, party, snacks, electronics, gadgets, fashion accessories and more. We keep our stores bright and easy to navigate with our Scandinavian decor being a differentiating characteristic.
Founded in 1995 and headquartered in Copenhagen, Denmark, Zebra A/S employs more than 4,500 people worldwide and generated revenue of DKK 4,274m and an Adjusted EBITDA of DKK 443m in 2016.
For more information, please contact:
Nina Brønden Jakobsen