Synsam AB (publ)
STO:SYNSAM
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Synsam AB (publ)
STO:SYNSAM
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Maxvalu Tokai Co Ltd
TSE:8198
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RWE AG
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Synsam AB (publ)
Synsam AB engages in the retail of optical products. The company is headquartered in Stockholm, Stockholm. The company went IPO on 2021-10-29. The firm operates stores in Sweden, Denmark, Norway, Finland, Iceland and the Faroe Islands. The store network is complemented by a presence online presence via Synsam, Profil Optik and Ai's own websites and social media, where customers can buy products, book eye exams, manage their subscriptions, or try glasses directly in the mobile phone. The firm has a range of glasses, sunglasses, sports glasses and contact lenses that include both Synsam’s own and other well-known brands. The offering also includes glasses and contact lens subscriptions, eye examinations, both physical and online, and personal style advice when trying on glasses.
Synsam AB engages in the retail of optical products. The company is headquartered in Stockholm, Stockholm. The company went IPO on 2021-10-29. The firm operates stores in Sweden, Denmark, Norway, Finland, Iceland and the Faroe Islands. The store network is complemented by a presence online presence via Synsam, Profil Optik and Ai's own websites and social media, where customers can buy products, book eye exams, manage their subscriptions, or try glasses directly in the mobile phone. The firm has a range of glasses, sunglasses, sports glasses and contact lenses that include both Synsam’s own and other well-known brands. The offering also includes glasses and contact lens subscriptions, eye examinations, both physical and online, and personal style advice when trying on glasses.
Market Conditions: Synsam continues to perform well despite a generally weak and cautious consumer environment across all Nordic markets.
Denmark Performance: Denmark delivered a strong quarter, with revenue and margins both beating expectations, helped by growth in cash sales offsetting declines in Lifestyle products due to credit legislation.
Growth Targets: The company reiterated its medium-term organic growth target of 8% to 12% for the group and expects Sweden to remain near this range.
Gross Margin: Gross margin contracted year-on-year due to mix effects and increased promotional activity, but Finland saw improvement after reducing discounts.
Product Innovation: Synsam is rolling out smart glasses and newly launched hearing enhancement glasses, with initial consumer interest and further store rollouts planned.
EyeView Expansion: The EyeView concept has ramped up in Sweden and Norway, supporting exam capacity and customer accessibility.
No Major Regulatory Changes: No significant further changes are expected in credit legislation impacting Lifestyle sales.
Strong Group Results: Management described Q3 as a strong quarter for both sales and EBIT despite ongoing challenges.
