STIGA ANNOUNCE RECORD PERFORMANCE

The STIGA Group has announced that they experienced another year of record revenues in 2022 with sales of 637 million Euros (+11% versus 2021) and an EBITDA of 63.9 million Euros (+4% versus 2021).

In a statement the manufacturer said these results are "remarkable" considering a complex 2022 marketplace. The company cited challenges last year such as an economic downturn, global inflation, supply chain disruptions and geopolitical uncertainty. "Nonetheless," the statement said, "the Group’s solid strategy and nimble approach to business enabled continued successes and investments to further elevate its positioning in the market, which currently counts with a 9.8% market share in Europe (+9% versus 2021)."

Sean Robinson, CEO STIGA Group, said, “Our 2022 financial performance is a remarkable testament to our people and the Group’s collective efforts to bring to market innovative, sustainable solutions.” He added, “In 2022, we invested 13.1 million Euros in research and development, focusing on technology introductions and competitive improvements that create quality products able to enrich the everyday lives of our end users”.

The company says their record sales are a result of continuously increased performance in all markets and distribution channels in which it operates, particularly driven by the French, German and export markets.