Rosendahl Design Group A/S Annual Report 2024 • Management’s Review We obtained a 5M DKK profit, a significant improvement following two years with negative results. We also managed to stabilise the business and turnover despite a challenging first half of 2024. Further, we managed to improve our leverage, inventory and interest-bearing debt significantly beyond bud- get and previous years. This will support our ability to focus on and invest in growing the business in 2025 and beyond. 2024 also marked another major milestone for us, as we became B Corp certified in March. This is a significant achieve - ment towards our goal of bringing Danish design responsibly into the future. WE LOOK AHEAD FOR 2025 – BUT TURBULENCE IS ON THE HORIZON We are cautiously optimistic in terms of the macro-economics for 2025. Inflation, interest rates and employment rates are currently heading in the right direction in the major economies – factors that historically have translated into increasing con- sumer spending and growth. operation fit for growth. That also entails becoming even more professional in how we conduct business and more stringent in how we prioritise according to our mission. A COHERENT, EMPOWERED ORGANISATION WITH A BIAS FOR ACTION I believe that creating an autonomous organisation that is empowered – on all levels – to act, is fundamental to creating superior commercial offerings and shortest time to market. Secondly, I am convinced it will strengthen our ability to attract and retain talent and increase motivation of our employees because it creates an engaging and inspiring workplace. 200 YEARS WITH STATE-OF-THE-ART GLASSWORKS FROM HOLMEGAARD AND FOCUS ON ROSENDAHL 2025 is the 200 th anniversary for Holmegaard, one of our key brands. To celebrate we will launch several special anniversary products, among them our very first internal co-lab – a Holmegaard x Kay Bojesen Monkey in glass. But these are not normal times. Consumers are acting cautiously as they navigate financial instability and uncertain economics ahead. We are super excited about these launches as they all reflect on our long traditions for superior glassmaking as well as show- casing progressive ways to keep icons relevant. This instability and uncertainty of future prosperity can heavily impact our business. Both in terms of shipping disturbances, direction of freight rates and currency fluctuations. But even more importantly, it impacts consumer sentiment which affects our business. Speaking of icons, 2025 is also going to be a year very focused on Rosendahl. We prepare to revitalise the brand to continue to attract and be relevant to both existing customers as well as new generations of consumers who are looking for innovative, quality products with a distinctive design aesthetic. We are thus monitoring the changes to tariffs, and even more closely how the changes affect our customers and businesses in general. WE PRESERVE AND DEVELOP DANISH DESIGN FOR THE MANY A cornerstone of our strategic direction is a re-emphasis on our mission - to preserve and develop Danish Design for the Many. It is at the core of the company and the premise Erik Rosendahl founded the company upon. A major part of fulfilling that mission is a strategic focus on partnerships, professionalisation and prioritisation across our business. This is part of a broader range of strategic operational and commercial initiatives we roll out throughout 2025 and 2026 towards becoming a stronger Rosendahl Design Group. We are already seeing the benefits from some of the initiatives. Lastly, I want to thank everyone at Rosendahl Design Group for their extraordinary effort and engagement through a trans- formative year. I also want to thank all our partners for engaging us and always pushing us forwards in a constructive way. I look forward to continue this journey towards a strong Rosendahl Design Group. We will focus on deeper and more engaging ways for us to partner with our stakeholders, customers, suppliers and our colleagues, and we will continue the work on making our Lisbeth Dau CEO, Rosendahl Design Group 7
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