Marshall Group reports strong growth in Q2 2024

In the second quarter of 2024, Marshall Group reported a 15% increase in net sales, reaching SEK 1,097.5 million, compared to SEK 956.8 million in the same period last year. The adjusted operating profit also saw a significant rise, climbing to SEK 242.1 million from 134.5 million, resulting in an adjusted operating margin of 22.1%. This growth follows a successful 2023, showcasing the company's ability to maintain momentum through innovative product launches and strategic market engagement. During this quarter, Marshall introduced the Major V and Minor IV headphones, enhancing their features to attract both new and existing customers. Additionally, the company unveiled a new digital experience on their website, which aims to strengthen connections with musicians and music enthusiasts. The launch of the Studio JTM Celestion 100 amp, celebrating Celestion speakers' centenary, further emphasizes Marshall's commitment to its heritage while innovating with limited-edition products. The financial performance in the first half of 2024 has been robust, with net sales increasing by 14% to MSEK 2,075.6, and adjusted operating profit rising to MSEK 450.6. This success is attributed to a well-executed strategy, a focus on innovation, and the ability to meet global consumer demands. Pro forma comparisons indicate a 12% revenue growth in the second quarter, reflecting the positive impact of the acquisition of Marshall Amplification and its subsidiaries. Looking ahead, Marshall Group aims to sustain its growth trajectory by continuing to innovate and deliver value to consumers. The company has a strong product roadmap and a dedicated team, positioning itself as a leader in the audio technology industry for the years to come.