Increased profits for Viking Sewing Machines AB
Sewing machine manufacturer Viking Sewing Machines AB’s first quarter sales jumped 67 percent compared with the corresponding period last year. Earnings before financial items rose 27 percent, from SEK 26.8 million to SEK 34.1 million.
“We continued to enjoy strong growth in the USA and have not yet noticed any fall off,” said Svante Runnquist, MD for Viking Sewing Machines AB.
Viking Sewing Machines AB’s position was strengthened by the acquisition of German sewing machine manufacturer Pfaff last year. The positive trend continued from January to March this year and turnover rose strongly.
“The Pfaff acquisition along with the integration work associated with the purchase, has gone very well. I am expecting this integration work to produce positive results as early as this year,” added Svante Runnquist.
This quarter also saw the European premiere of the computerised sewing machine the Designer II, that can be tailored to customer requirements. The launch attracted a great deal of interest.
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Viking Sewing Machines AB develops, manufactures, markets and sells domestic sewing machines and accessories that give consumers the world over the opportunity to experience the pleasure of creative sewing; with brands such as Husqvarna Viking and Pfaff the company is one of the world’s leading sewing machine companies. Its annual sales of around 500,000 sewing machines correspond to a turnover of over SEK 2 billion. The group has around 1,300 employees, including 500 in Sweden. The company is certified to international quality standard ISO 9001 and environment management standard ISO 14001.