NWG Annual Report 2019 - EN NWG Annual Report 2019 - EN | Page 11

NWG // ABOUT THE GROUP
SEK million
SEK million
7 500
450
7 000
400
6 500
6 000
350
5 500
5 000
300
4 500
250
4 000
3 500
Growth in net
sales and result
for the year
200
3 000
2 500
150
2 000
100
1 500
Net sales
1 000
Result for the year
50
500
0
0
97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19
Growth and profitability targets
New Wave Group strives for sustainable, profitable
sales growth through expansion in its three operating
segments: Corporate, Sports & Leisure and Gifts &
Home Furnishings. Over a period of one business
cycle, the Group’s growth target is between 10 and
20% per year, of which between 5 and 10% is organic
growth, and a 15% operating margin. In addition, New
Wave Group aims for at least 30% equity ratio over one
business cycle.
New Wave Group's values
New Wave Group is a decentralized organization
and the Group’s values are central for future growth.
Great work is being done to uphold and spread New
Wave Group’s values within the Group and particularly
when acquiring new companies. New Wave Group does
its utmost to find inexpensive, simple solutions and
adheres to the motto “a penny saved is a penny earned”.
# # It takes hard work to outperform
competitors
# # Employees must have the conviction to take
initiative and to learn from their mistakes in a
decentralized organization
# # Customer focus is a central principle for the
organization as a whole and imperative to
doing our utmost
History
New Wave Group was established in 1990 in Sweden
and Norway and in 1994 in Finland. In these markets,
the Group ranks as the market leader in promo clothing.
In 1996 Craft was acquired, which established sales
in the retail sales channel. New Wave's share, class
B, was listed on the Stockholm Stock Exchange 1997.
With its 2001 acquisition of Sagaform, New Wave
Group moved into promotional gifts, which generated
substantial synergies with the Group’s other promo
activities. In 2003, New Wave Group developed its
own workwear concept under the Projob brand and
sealed the venture with the acquisition of Jobman.
Following its launch in workwear, New Wave Group is
currently the only supplier to cover all three segments
(promowear, promotional gifts and workwear) in
the promo sector. To further strengthen the Group’s
promotional gifts and giveaways assortment the
Orrefors Kosta Boda Group was acquired in late 2005.
Cutter & Buck was acquired in 2007 and secured a
sound foothold in the North American market. The
Group’s presence in North America was further
strengthened during 2011 when AHEAD and Paris
Glove were acquired, and 2013 when the distributor
of Craft’s products were acquired. CSR and sustain-
ability have always been and remain an important
part of our business. In 2015, Cottover was launched,
which is eco-labeled and sustainability-produced
promo clothing. The recent years' efforts to improve
the service level and expand the product range, among
them Craft Teamwear, have resulted in the Group
achieving SEK 6,903.5 million in sales in 2019.
The Group has gradually expanded and set up
organizations in Europe, North America and Asia.
New Wave Group has established sales organiza-
tions and its own subsidiaries in 18 countries. Sales
in non-Swedish markets make up about 77 % of the
Group’s sales and amount to SEK 5,293.5 million.
Sweden and the United States are the Group’s most
important markets. Together they have 49 % of the
Group’s turnover.
ANNUAL REPORT // 011