During the month of June 2022, the Catalan furniture and decoration company Hannun, valued at 31.6 million euros at that time, announced its incorporation into BME Growth, the secondary market for expanding SMEs. Now, nine months later, Hannun has just taken stock of his 2022 results… and he couldn’t be more positive.
Hannun closed 2022 with a growth above 50% compared to the previous period, reaching the figure of 6.3 million euros in sales, and improving its year-on-year adjusted EBITDA ratio as a percentage of net sales by almost 50 points during the last quarter of the year.
This growth of Hannun has been driven, fundamentally, by international sales, which already represent 44% of the total, with an increase in international revenues of 214%. In this sense, France It constitutes about 17% of Hannun’s sales, while Germany stands at 10%.
Joan Alvarez, CEO of the company, explained that “we are very satisfied with the progression of the business and the good results obtained this past year, creating long-term value for the shareholder by applying the strategic lines defined by the Board of Directors. Hannun is at its best moment since the creation of the company and today we are participating, more than ever, in the sustainable transition of a sector -furniture- with great potential throughout Europe”.
Company sources explain that Hannun’s future plans include continuing to strengthen its presence as a benchmark brand in the furniture and decoration sector. in Europeboosting growth as well as profitability.
Brief history of Hannun
Founded in 2018 by Joan Alvarez and Maurici BadiaHannun is an eco-friendly decoration and furniture ecommerce with great growth at a national and European level, exporting its creations to more than 30 countries, always maintaining as its main objective the care and protection of the planet. Thus, Hannun items are produced in Europe with recycled and sustainably sourced wood.
«Hannun produces its products in an environmentally responsible way using sustainable, non-toxic and recyclable products, including everything from wood, to varnishes, to packaging, and in a way that is committed to society through fair deals with artisan suppliers in Europe”, explains the company.
In fact, as Maurici Badia told us well in the interview we conducted with him after winning the award for Best Ecommerce Rookie of the year in our Ecommerce Awards 2020,“Sustainability is no longer the future, it is the present”.
This positioning has helped Hannun to establish itself as a reference brand in the sector, with a strong presence in social networks, through which it impacts, on average, more than 7.5 million people per month. 40% of this reach is produced organically thanks to its disclosure content on sustainability.
To consolidate its growth, Hannun closed a round of financing in 2019 through Startupexplore, worth €187,500, led by Aitor Sancho and with the participation of another 50 investors. In 2021 he repeated the operation, through the crowdcube platform, an investment crowdfunding platform that hosts a series of companies in which individuals, like you or me, can invest as microinvestors. In this way, in the case of Hannun, it allowed his community of followers (who have already been baptized as Hannuners), suppliers and any other type of public in general to invest, from 15 to 500,000 euros, in his brand, offering them – well- a little piece of the startup. Finally, this public financing process was closed well above the target set, reaching 1.2 million euros.
Investors in Hannun include names like those of Joseph Casas, creator of naturitas, Xavier De la Rosa from MyFarma, Andreas Mihalovits or the founders of AB Biotics, Sergi Audivert and Miquel Angel Bonachera. The latter will also join the board of directors of the company.
Efficiency, product catalog and internationalization: the future of Hannun
Last October, Hannun presented its strategic lines for 2023-27 in which it announced its commitment to growth and the continuous improvement of its profitability and market consolidation ratios. The closure presented for 2022 already points in this line in which the company has managed to boost its growth while optimizing its structural costs, achieving, among other improvements, a notable logistics cost reduction thanks to the optimization of rates, markets and processes.
Another of Hannun’s strategic bets has been the Artesta Acquisition, online sales platform for paintings and decorative sheets, with which it has achieved penetration into new categories and markets. Artesta has generated approximately €1.1M in revenue during 2022. For Hannun, this purchase has represented 19% of sales in the last quarter at a consolidated level. The UK market accounted for 21% of Artesta’s sales in the last exercise. Hannun is committed to international expansion with this new acquisition and production and distribution agreements have already been reached for Germany and France.
Hannun has also successfully executed the implementation of new sales channels through marketplaces, which have accounted for close to 10% of its sales in the last quarter of the year. To this must be added, as another key to success, the start-up of a operational center in Central and Eastern Europe which provides service to international markets and which has managed to optimize production and logistics costs, ending the year with more than 15% of the orders served from this new center in the last quarter. In addition, it has created a new logistics center in Barcelona of larger dimensions that will allow you to optimize costs and improve efficiency.
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