Doro grows finances and share in Q4 as retail partnerships strengthen

Doro grows finances and share in Q4 as retail partnerships strengthen

Doro recorded steady financial growth in the UK during Q4 2013 as retail partnerships increase market share.

The Swedish manufacturer recorded UK sales of SEK66.2 million (£6.14 million) in last year's final quarter, which has been attributed to closer relationships with Carphone Warehouse, O2 and EE. Across Europe, sales increased by 17% compared with last year to SEK78.1 million (£7.25 million) due to traction in France with a new product range and stengthening relationships with operators. Worldwide, Doro increased its order intake by 48% to SEK316.3 million (£29.3 million), increasing profit after tax to SEK26.2 million (£2.4 million).

2013 was a period of growth in general for the smartphone maker. Order intake throughout the year also increased, this time by 46.8% to SEK1,183.6 million (£109.8 million), while net sales reached SEK1,142.5 million (£106 million), which increased by 36.4% (adjusted by 19.5% for acquisition). Profit after tax was SEK60.6 million (£5.62 million).

Doro CEO, Jerome Arnaud, said: ‘2013 was an exciting and eventful year for Doro. We started the year with exceptional organic growth and furthermore improved our position by adding some great acquisitions to the Group a few months later – thereby even further increasing our leadership position on the European mobile phone market for seniors. We also strengthened both our internal resources and our distribution network during the year, and ended 2013 with reassuring cash flow and margins.

‘Our full year growth climbed to 36 percent, out of which 19.5 percent was organic growth, giving us a proforma turnover of approximately 1.25 billion SEK. Our German acquisition IVS has quarter for quarter added strongly to our overall growth and market leading position in Germany.

‘Although last year’s strong first quarter will be hard to match, we enter 2014 with a solid base for further growth as well as new strategic acquisitions. We have an efficient operating model, which is verified by continuous strong cash flow, and our financial position remains strong, despite the acquisitions made during the past year. Important for sales growth is the development of smartphone sales, which is expected to gain momentum during the second half of the year.’


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