**Swedish sportswear brand Björn Borg saw its net sales increase by 6% in the first half of its fiscal year 2023, driven by strong demand in Europe and online sales.**
For the period ending June 30, Björn Borg’s net sales amounted to SEK 426.5 million (€39 million), up from SEK 402.1 million (€36.6 million) in the same period last year.
The company’s e-commerce business continued to be a major growth driver, accounting for 33% of total sales, compared to 29% in H1 FY22.
Björn Borg’s strongest performing region was Europe, where sales increased by 10%. Sales in the Americas and Asia Pacific also grew, but at a slower pace.
The company’s gross profit margin remained stable at 53.5%, despite rising input costs.
Björn Borg’s EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 13% to SEK 72.5 million (€6.6 million).
The company’s net profit rose by 16% to SEK 44.6 million (€4 million).
Björn Borg CEO Henrik Bunge said the company was pleased with its performance in the first half of the year, despite the challenging macroeconomic environment.
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