Uggerhalne d. 30-12-2024.
Global Equestrian Group has just published its annual report for 2023/2024, marking the conclusion of an eventful and challenging year. The year’s results were affected by high interest rates and a general market slowdown, leading to reduced revenue in certain segments. Additionally, extraordinary costs related to restructuring and write-downs in parts of the business contributed to an overall financial decline for the fiscal year, which ended on June 30, 2024. Despite these challenges, the Group and its employees delivered strong sporting results, including Riesenbeck International’s victory at the Global Champions Tour in December 2023 and Christian Kukuk’s Olympic gold medal in jumping shortly after the fiscal year's end.
The 2023/24 fiscal year was characterized by the execution of several strategic initiatives and adjustments across the group’s subsidiaries, which have already resulted in a significant improvement in key financial metrics for the current fiscal year.
The sale of event activities in USA has laid a strong foundation for returning to the group’s core business. With these strategic changes and measures, Global Equestrian Group’s management is confident that the group is now well-positioned to develop and accelerate its core operations, which continue to include Dressage, Jumping, and Kingsland. Events related to Dressage and Jumping will continue to be held in Germany and Denmark as they are today.
Solid foundation for growth
As a result of these strategic initiatives, Global Equestrian Group is already experiencing growth across all continuing business areas, reflecting positive progress in the underlying operations. The management team anticipates a significantly improved result for the 2024/2025 fiscal year compared to the recently concluded year. The primary business area, horse development and sales in both Dressage and Jumping is meeting all budget targets, supported by similar progress in KL.
With the sale in the USA and substantial debt reduction, Global Equestrian Group now has significantly improved its financial foundation. Combined with stable operations across all parts of the business, the leadership looks to the future with great optimism.
Global Equestrian Group remains committed to delivering high quality and strong results for both customers and investors. A heartfelt thank you to all GEG employees across Denmark, Germany, and USA for their daily dedication and focused efforts in maintaining high standards.
We look forward to sharing more good news in the coming year.
HAPPY NEW YEAR!
