Norwegian children’s furniture manufacturer Stokke has announced its 2023 financials. Following years of robuts financial results, Stokke delivers another year of solid growth despite a challenging macroeconomic environment.

In 2023, excluding currency effects, the brand had 4% revenue growth. Including favorable currency exchange rates, in NOK terms sales revenue increased 12.2% to 3.5 billion NOK. This growth was largely due to the success of the YOYO® range, which saw a 14% rise in sales. Jacob Kragh, CEO, comments, “While we had higher ambitions for 2023, we recognize that market conditions made it a more challenging year than we anticipated. The growth of Stokke was therefore achieved through hard work, and a willingness to adapt to changing landscapes. The positive performance of YOYO® is promising and together with Tripp Trapp®, will shape our future growth.”

Leveraging its strong Scandinavian roots, Stokke solidified its global presence, growing particularly in the US market, as well as in the APAC region, specifically Korea and China. Furthermore, the company's overall profitability improved, with EBITDA climbing to 857.5 million NOK, reflecting a notable 17% increase compared to 2022. Stokke CFO Anika Kreider adds, “We saw the cost of our goods decrease in 2023, which gave us the tailwind to land our operating profit at 497,2 million NOK compared to 423,7 million NOK in 2022. A robust financial performance to further grow from.”