MARSHALL GROUP REPORTS STRONG PROFITABLE GROWTH IN THE THIRD QUARTER

STOCKHOLM, Nov. 13, 2024 /PRNewswire/ -- In the third quarter of 2024, Marshall Group continued to build on its strong and profitable growth trajectory with net sales increasing 15 percent to SEK 1,118.4 million (974.4). Adjusted operating profit increased to SEK 304.0 million (236.6) amounting to an adjusted operating margin of 27.2 percent (24.3%).

Marshall has really shown its strength in the first nine months of 2024 by launching highly acclaimed product updates that resonate with consumers and delivering solid financial results. With yet another successful quarter added to the legacy of the iconic brand, Marshall is continuing to build on the robust foundation set since the creation of the Marshall Group last year.

"These impressive results come from a talented, passionate and hard-working team that is bringing to life our ambition and strategy in a powerful way. We're creating and delivering unique products, stories and experiences that resonate with consumers across all channels and geographies. With yet another successful quarter behind us, we are well-positioned to continue our profitable growth journey," says Jeremy de Maillard, CEO, Marshall Group.

During the third quarter, Marshall launched two updated versions of the most beloved members of the Marshall portable speaker family, Emberton III and Willen II, with improved material choices, usability, and ready for the next Bluetooth technology LE Audio enabling Auracast™. In September, Marshall launched the much-anticipated Monitor III A.N.C. wireless headphones, featuring enhanced noise-cancelling and Marshall's new Soundstage spatial audio technology, receiving fantastic reviews from consumers and media alike.

Driven by the strong demand for Marshall products across regions, and strong performance across all sales channels, including e-commerce, the financial performance during the first nine months of 2024 has been impressive. Net sales increased by 15 percent to MSEK 3,194.0 (2,788.6) compared to January to September 2023. Adjusted operating profit increased to MSEK 754.7 (545.5) equivalent to an adjusted operating margin of 23.6 percent (19.6%) a result of a well-executed strategy, a focus on innovation, and an ability to meet the demands of both musicians and music lovers globally.  

"We have an exciting product roadmap for both existing and new categories and our strong financial position allows us to invest for the long term while also capturing more of the opportunities in front of us. The team is doing a fantastic job growing the business into the brand," says Martin Axhamre, CFO & Deputy CEO, Marshall Group.

For more information, please contact:Frida Calderon, Senior Communications Manager, Marshall Grouppress@marshall.com 

About Marshall Group:

Marshall Group is the audio, tech and design powerhouse uniting musicians and music lovers through genre-breaking innovation. Marshall, our flagship brand, is uniquely positioned with over 60 years of rock 'n' roll attitude on stage, at home and on the go. Our iconic products are brought to life by a dedicated team of 800 passionate employees and sold in over 90 markets worldwide. Learn more on marshall.com 

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