Rosendahl Design Group A/S Annual Report 2023 • Management’s Review Outlook The macroeconomic situation remains challenged due to war in several regions, inflation, and high interest rates. Consumer confidence and consumption in Rosendahl Design Group’s sector remains equally low, and we expect the entire 2024 to be challenging as well. That said, Rosendahl Design Group succeeded in accomplishing its priority target of reducing its stock level with approximately DKK 100 M over the year, thus laying the ground for its new strategic projects within procurement, planning and brand strategy. We detect a highly positive performance on our own online platform indicating that consumer trust may be on the rise, and we are cautiously optimistic about the increase in priority markets such as Sweden and the US. In the US, we have had a successful startup, overcoming initial difficulties and are now in place with a fully functional team as well as having landed important and attractive key accounts. All in all, positive groundwork is laid for a possible upscale of operations in 2024. Although adopting a conservative and cautious approach, we expect 2024 to be a year where we develop the groundwork for future growth, and not least where we turn the negative results of the previous two years into a positive result corresponding with the company’s long history of solidity and profit. We have planned a slightly increase in turnover and expect the year to end around DKK 480-490 M, however, as the result of significant cost reductions as well as strategic projects in terms of procurement and planning, we expect an EBITDA around 6-8% and a positive result of DKK 6-8 M. 19
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