Global Equestrian Group reaches €171 million in turnover
The Danish-based group Global Equestrian Group (GEG) is based in Vodskov and is the parent company of the following companies: Helgstrand Dressage, Helgstrand Jewellery, Beerbaum Stables, Outstanding Stables by Patrik Kittel, Riesenbeck International, Wellington International, ShowGroundsLive, The Chronicle of the Horse, Kingsland Equestrian as well as a number of smaller companies.
The just-published annual report show progress in group revenue from € 78 million in 20/21 to €171 million in 21/22. At the same time, earnings before interest and depreciation (EBITDA) have increased from €20,8 million in 20/21 to €45,2 million in 21/22.
During the financial year, GEG has taken over all shares in the American streaming company ShowGroundsLive and the German dressage stable Outstanding Stables by Patrik Kittel.
"We are following the strategy we have determined and at the same time can see that a number of synergies are starting to pay off", CEO Andreas Helgstrand explains, and continues: "At the same time, we are continuously contacted by companies around the world who like our goals and approach to develop equestrian sports with a focus on horse welfare is exciting. So we constantly have a dialogue with interesting companies who can both add something to us, but who can also gain benefits from becoming part of the group”.
The just ended financial year has been characterized by several positive elements. "After we bought the world's largest equestrian venue, Palm Beach International Equestrian Center last summer, we decided to change the name to Wellington International. Partly to cement the city of Wellington as the world's equestrian capital, and partly to signal new owners and new plans", says Andreas Helgstrand, and adds: "The name change, together with a large number of investments in improvements, has meant that we have been taken really well received, and had a fantastic Winter Equestrian Festival at the start of the year with the participation of a record number of riders and spectators. Also the purchase of Outstanding Stables by Patrik Kittel, which fell into place at the end of May, is extremely important and I am very proud to have a rider like Patrik Kittel in the group. And last but not least, we are fully on board with our plan to become a bigger player in showjumping horses. Beerbaum Stables has significantly increased the number of horses in the last financial year and at the same time increased sales".
The number of full-time employees has now passed 350, and in the high season the group now employs more than 700 employees on locations in Denmark, Norway, Germany and USA.
Global Equestrian Group expects to increase revenue and EBITDA in the current financial year. Again, this will happen as a combination of acquisitions and organic growth as well as synergies among the existing companies.
For further information:
Andreas Helgstrand, CEO – Helgstrand Dressage, +45 40 10 00 00
Kaspar Kristiansen, Managing director - Waterland Private Equity, +45 21 18 22 44
