Soundboks, the Danish company known for its festival speakers, faced financial headwinds in 2024, reporting a loss after tax of DKK 31.1 million, a decline of DKK 11.8 million compared to the previous year. Despite a substantial annual turnover in the three-digit millions, consistent with previous years, profitability remains a challenge for the company, which was founded a decade ago by three high school friends.

The company’s annual turnover experienced an 11 percent decrease, with total sales reaching DKK 260.9 million, down from DKK 31 million.

The primary factor contributing to the financial setback is the challenging US market, which has been significantly impacted by trade tariffs. As Soundboks speakers are manufactured in China, they are subject to import duties upon entering the United States.

CEO and co-founder Jesper Theil acknowledged the difficulties posed by the US market but expressed optimism for future growth in Europe. He highlighted Germany as Soundboks’ largest market, accounting for approximately 35 percent of turnover, and noted increasing demand in England and France.

To mitigate the impact of the tariffs, Soundboks has implemented strategic measures, including price increases to protect gross profit and a reallocation of resources from the US to Europe.

Looking ahead, Soundboks plans to continue investing in product development, supported by a DKK 15 million capital injection received in the past year. In May, the company won a lawsuit against Sharp for allegedly copying their products, although Sharp has appealed the decision.