Annual net sales revenue of Plantasjen Group 2016-2020

The annual net sales of Plantasjen Group for 2020 amounted to 4.6 billion Norwegian kroner and was at its highest over the last five years since the plant and accessories retailer’s acquisition by the investment group Ratos happened in 2016.

Plantasjen net sales development

The self declared Nordic plant accessories retailer was founded in Norway in 1986, and has since then expanded into the neighboring countries of Sweden and Finland as its key markets. Specializing in plant and home gardening DIY retail, as of 2020 Plantasjen operates with 131 brick-and-mortar stores in the format of large garden centres, as well as online. Since 2016, there has been a steady growth development in net sales starting from 3.6 billion Norwegian kroner, and jumping up to over four billion Norwegian kroner in 2019. This effect could be attributed to the investments made during 2018 when the DIY retailer developed their IT infrastructure.

How Plantasjen achieved highest net revenue in 2020

In 2017, Plantasjen planned a new strategy to meet the demands of the future of retail and consumer demand by investing in a new ERP (Enterprise Resource Planning) system, which would allow for a smoother online and offline experience, intended for the e-commerce rollout in 2019. Notably, 2018 was a year which saw negative impact in the company’s financial performance, as reflected in the low EBITA margins as well as a negative cashflow. The DIY retailer claimed this was also due to bad weather conditions and high waste of perishable goods, which led to lower customer demand. In 2019, however, the retailer’s margins became steadier. The awakened customer interest in flowers and plants during the coronavirus (COVID-19) pandemic in 2020 could be attributed as one of the reasons for Plantasjen’s improved financial performance.