Flying Tiger Copenhagen revenue rises in ‘another year of change and growth’

In its annual report for 2024, the retailer recorded a 5% increase in revenue to DKK5.2bn (£588m), which it said is a post-pandemic record.

Its EBITDA reached DKK1.13bn (£127m) and was the highest level in the company’s 30-year history. Gross profit edged up slightly from DKK3.13bn (£353m) to DDK3.27bn (£369m).

The UK was among the group’s top markets with a 4% revenue growth to DDK668m (£76m).

Other highlights include reaching a milestone of 1,000 stores across its market, launching in four new countries (Bahrain, Turkey, Australia and Vietnam) and launching its new app.

With a “stable external environment”, Flying Tiger expected revenue to rise between 5% and 7% in 2025 compared to 2024.

Chief executive Martin Jermiin and chief financial officer Christian Kofoed H. Jakobsen said: “2024 was a year of change and growth for Flying Tiger Copenhagen. 

“We navigated both new opportunities and challenges, growing our presence around the world, trying out new ideas and taking meaningful steps toward more sustainable ways of working. 

“2024 marks a significant milestone in our journey with the opening of our 1,000th store globally. Our mission of spreading joy and creativity took an extra leap this year as we entered new markets: Bahrain, Turkey, Australia and Vietnam, together with our strong franchise partners. 

“To better connect with our customers, we introduced the Flying Tiger Copenhagen Club this year with a new app. The app bridges our physical and digital presence, making it easier than ever for customers to explore, shop and connect with us anytime, anywhere. During 2024, the app was launched in seven markets, with more to be added in the near future. 

“Our positive growth in 2024, with record-high EBITDA, provides a solid foundation for 2025.”