Net turnover for 2025 amounted to 29.1 million Swedish krona, compared to 45.3 million Swedish krona the previous year. Turnover has therefore continued to decrease, after having been just over 75 million Swedish krona in 2022.
Operating profit weakened from 404,000 Swedish krona in 2024 to -18.9 million Swedish krona in 2025. However, the company made accounting adjustments, with just over 17.3 million Swedish krona being returned from deferred tax funds, resulting in a net profit for the year of -1.35 million Swedish krona.
Terminated Collaborations and Currency Effects
After the market situation was described as challenging already last year, the company points to several specific factors that affected the accounts for 2025. The administration report states that the company has carried out a review of its structure and international presence. As a result of this, investments and collaborations deemed to have insufficient profitability have been terminated, which has incurred one-time costs.
In addition to restructuring, currency developments have affected the result. The US dollar weakened by around 17 percent against the Swedish krona during the year, which had effects as Golden Concept makes a large part of its purchases in the currency and reports inventory in USD. The company has also made inventory write-downs of a six-digit amount and written down certain receivables due to uncertainty regarding the ability to pay.
The board of directors states that the loss is "a result of conscious strategic decisions, a cautious valuation of certain assets and significant currency effects, rather than an expression of the long-term strength of the ongoing business".
Implementing AI to Reduce Costs
To streamline operations, the company has initiated work to reduce fixed costs. Part of this is an increased implementation of artificial intelligence and digital tools in marketing, analysis and content production.
The company is also preparing to launch a new product category, a "premium tech line" aimed at markets affected by the economic situation, in order to offer a more accessible alternative to the company's existing range. Furthermore, the company has signed an agreement with a major distributor for the Chinese market.
The company currently has three owners: founder Puia Shamsossadatis company Shamsossadati International (60 percent), Great Invest AB (30 percent) and HJB Project AB (10 percent). In 2024, a dividend of 5 million Swedish krona was paid, but for 2025 the board proposes that no dividend be paid. The average number of employees increased during the year from 11 to 14 people.