At 07:00 this morning, New Wave released its Q4 report. Despite a 3% increase in revenue, both operating profit and earnings per share declined.
“We managed to increase net revenue by 3% despite a challenging market in all countries – but perhaps worst in Sweden – and this means that we continue to gain market share,” says CEO Torsten Jansson.
He also attributes the decreased operating profit to a lower gross profit margin and mentions that New Wave is continuing “our market investments for future growth.”
The stock market reacted positively to the news, with the stock trading up nearly 9% by 10:45.
Just over three hours after the report, a new press release from New Wave announced that the brand Craft has signed a six-year agreement with the Swedish Table Tennis Association. Craft will provide clothing for all national teams, and the Table Tennis Association will host events in Kosta and Craft Arena.
On the association’s website, Torsten Jansson stated:
“Sports and youth have always been close to my heart. Being able to create opportunities for them to be active feels important to me. Table tennis is special because I have been involved in it for so many years, so it feels fantastic that we can now do this together.”
This partnership not only showcases New Wave’s commitment to supporting sports and youth but also highlights their strategic investments in expanding their market presence. The positive market response to the Q4 report and the subsequent announcement of the Craft partnership indicate a promising future for New Wave as they continue to navigate challenging market conditions and drive growth.