Earlier this year Ehandel reported on preliminary figures where CEO Robin Mostacero indicated that revenue would reach half a billion. Now, the official and finalized documents for the parent company Aim Apparel AB have been registered with the Swedish Companies Registration Office, and the results show that the group reached all the way.
Profit more than doubled
The group's net sales increased by 12 percent to SEK 496.5 million, compared to SEK 443.4 million the previous year. Including other operating income, total revenue landed on just over SEK 510 million.
The major uplift is visible, however, on the bottom line. Operating profit increased by 101 percent and landed on SEK 65 million, up from SEK 32.3 million the year before. Profit after tax more than doubled to SEK 46.5 million, compared to SEK 22.8 million in the previous period.
Refuses the discount trap – cash balance swells
The improvement in results is linked to the company's stated strategy of sticking to full price and not getting involved in the industry's sale race, combined with a broadened range within outdoor and ski fashion. At the same time, the company managed to reduce its inventory from SEK 177 million to SEK 146 million.
The strong cash flow has left a significant mark on the balance sheet. The group's liquid assets more than tripled during the year, from SEK 36.4 million to SEK 116.3 million at the end of the year. The group's equity now amounts to SEK 241 million.
Venture capital firm opens up for exit
Aim'n was founded in 2014 by Tekla Acs and Helen Van and today sells through its own e-commerce platform, global marketplaces and its own physical stores. In addition to Sweden, operations are also conducted through subsidiaries in Norway and New Zealand.
Since 2020, e-commerce investor eEquity has been a shareholder with approximately 40 percent of the shares.