MUSTAD DELIVERS STRONG EBITDA IN 2021
For O Mustad & Son, 2021 proved to be a year of remarkable growth and compelling new developments. We saw a significant increase in sales in both sport and commercial fishing segments, thanks not only to the rising interest in recreational fishing during the pandemic, but also Mustad’s expansion into additional segments internally and through acquisitions.
The demand for Mustad products remained high throughout the fiscal year and continues to receive positive feedback towards our latest and upcoming products. To our excitement, we have experienced Mustad’s most successful year ever, quite an accomplishment for a 190-year-old company. In 2021, the Mustad team succeeded in exceeding expectations an over 30% increase from 2020. Even more impressive was the over 130% growth of EBITDA compared to 2020, reaching an all-time-high 5.8M USD.
"A successful year like this comes thanks to the great efforts that the team has put into managing the challenges of the past two years and going above and beyond to deliver a magnificent year," says Mustad CEO Kenni Riise. "These efforts combined with the surge in recreational fishing have proven to be a combination leading to fantastic results."
In the year's second half, Mustad acquired LIVETARGET, a unique lure brand with a proven message and growth. The successful integration has led to a positive impact going into 2022, where we already see the exponential engagement of the brand outside of North America.
With this, Mustad continues to work hard to build upon this success and in anticipation of further expansions into lures, rods, and our bread-and-butter: Fishing hooks!
Come see our expanding selection at ICAST 2022 at booth #223!