Press release -
DKK 400 million for HimmerLand
After a financial year that has been significantly negatively affected by the global COVID-19 crisis, Lars Larsen Group is now investing DKK 400 million into the company behind HimmerLand
Many Danes took their summer holidays in Denmark in 2020, of which quite a few chose to spend it in the beautiful surroundings of Lars Larsens Vej in Himmerland.
One good summer is not enough to make up for the huge losses that the Lars Larsen Group-owned resort experienced in connection with the coronavirus lockdown measures however, which led to the cancellation of many overnight stays and corporate events.
Together with write-downs and considerable investments in the modernisation of rooms and activities, this means that HimmerLand ends the 2019/20 financial year with a deficit of around DKK 90 million.
"Naturally, it is never satisfactory to have such a large deficit. On the other hand, no one is in any doubt that circumstances this year have been far from ordinary. When we made the decision to retain all our employees despite the lockdown we were already aware that this would negatively affect profits for 2019/20, so the result is unsurprising," says the chairman of the board of the family-owned Lars Larsen Group, Jacob Brunsborg.
Confidence in the future
This makes it all the more important for him that Lars Larsen Group can already, in good time before the publication of the annual statement, announce a capital injection of DKK 400 million.
"It's important to make it clear to employees, visitors and all those people who have purchased a cottage at the resort or are considering purchasing a cottage in connection with the resort that we stand behind HimmerLand 100% and will continue to develop the resort. I think that in this case actions speak louder than words, and an investment of this size ensures HimmerLand's future for many years to come," says Jacob Brunsborg.
HimmerLand was established in 1979 as Himmerland Golf & Country Club, and Lars Larsen Group has had shares in its ownership since 1987.
HimmerLand has gradually been developed and can boast of some of Denmark's best golfing facilities, as well as a wide range of opportunities and activities for the whole family and top class dining experiences.
HimmerLand employs around 160 staff.
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LARS LARSEN GROUP is named after Lars Larsen, who was the founder of JYSK GROUP and a well-known tradesman in Denmark.
The success of JYSK has formed the foundation of LARS LARSEN GROUP, which is active within a number of business areas including furniture, golf equipment, restaurants, hotels and a number of other activities.
The companies that make up LARS LARSEN GROUP have a combined turnover of approximately EUR 4.25 billion annually.
The biggest part of the earnings derive from JYSK, which has a turnover of EUR 3.58 billion. The story of LARS LARSEN GROUP begins with the opening of the first JYSK store in 1979.
