Synsam has a successful organic growth strategy and since 2020, Synsam’s sales have increased more than 60 percent and EBIT has doubled in a market that faced weak economic conditions for much of this time.
1. MARKET LEADER IN THE NORDICS IN OPTICAL RETAIL AND EYE HEALTH
From its inception in 1968, Synsam, with slightly more than 600 stores in Sweden, Denmark, Norway, Finland, Iceland and the Faroe Islands, has grown into one of the Nordic region’s leading actors in optics, eye fashion and eye health. Synsam’s ambition is to continue strengthening its industry-leading position through innovation and a clear focus on sustainability.
2. CLEAR STRATEGY IN A NON-CYCLICAL AND GROWING MARKET
Optics and eye health represent a medically driven and growing market. Today, seven out of ten people have some form of vision correction need, and this proportion is increasing due to an aging population and our digital lifestyle with extensive screen time. As the need for vision correction and eye health grows, demand remains stable throughout economic cycles. Synsam Group’s goal is to achieve an annual organic growth of 8–12% and an annual EBIT margin of 12-15% in the medium term.
3. STRONG FINANCIAL POSITION AND STABLE CASH FLOW
Synsam has a solid balance sheet and stable cash flow with efficient working capital management. According to Synsam’s dividend policy, the goal is to distribute a dividend to shareholders of 40%–60% of the year’s net profit. Over the past three years up to 2024, the dividend has ranged between SEK 1.70 and SEK 1.80 per share.
4. SUSTAINABLE ECONOMIES OF SCALE
With clear collaboration within Synsam between the group companies and the central support functions, economies of scale and cost efficiency are achieved. The central procurement function lays the foundation for affordability and quality. Similarly, the central IT function plays a crucial role in the group’s digital development, automation, and data-driven methods to meet future needs.
5. STRONG CULTURE OF INNOVATION
Synsam’s ambition is to drive the development of optics, eye health, and eyewear fashion in the Nordics as an innovative player. Innovation has been a key part of the transformation the group initiated in 2015, focusing on a culture that fosters new ideas. One example of this is Synsam’s production and innovation center on Frösön, near Östersund, which was inaugurated in 2022. The purpose of the center is to offer locally produced eyewear and serve as an innovation hub for the industry. Another example is the vision screening tool, Synsam EyeView.
DO YOU WANT TO KNOW MORE?
Contact ir@synsam.com and we’ll help you!