Lars Larsen Group significantly increases earnings

Lars Larsen Group – which owns JYSK and a number of other companies – increased earnings by more than 50 percent in the most recent financial year.

Despite the fact that corona restrictions created challenges for a number of the companies within Lars Larsen Group, including JYSK, financial year 2020/21 ended with record high turnover and earnings.

Thus turnover increased to DKK 39.1 billion, while earnings landed at DKK 6.5 billion before tax.

“It is a result that all of our employees can be proud of. The most recent financial year has been a dynamic period, where it has been crucial for us to stay focused on being able to adapt quickly without losing focus on the goal of creating long term value,” says President and CEO of Lars Larsen Group, Jesper Lund.

Many success stories

JYSK still generates the largest part of the profit with earnings before tax of DKK 4.5 billion, but Jesper Lund is happy to see a positive development in a lot of the group's companies.

“It is a fundamental value in Lars Larsen Group that we want to create growth and development in society. That is why we have not increased profit through savings. On the contrary, we have invested more than ever to the benefit of both Lars Larsen Group and the surrounding community,” says Jesper Lund.

During the past 12 months, Lars Larsen Group has taken over the ownership of SOFACOMPANY, Sängjätten, Sengetid.dk, Theca and Melex as well as 41 percent of the ownership of Formuepleje.

In addition, Lars Larsen Group has invested DKK 2.6 billion in the operation of the companies within the group.