Johnson Outdoors : 2024 Annual Report
JOUT
2024 ANNUAL REPORT
SHAPING
TOMORROW'S ADVENTURES
EMBRACE CHANGE
TO ENHANCE THE EXPERIENCE
Adventurers trust Johnson Outdoors to combine our rich heritage with focused innovation for the best possible outdoor recreation experience. We're pursuing better ways to serve our consumers, partners and communities-leveraging new technologies, tools and expertise to create a business that's stronger than ever, and to shape a better tomorrow.
Company
SNAPSHOT
Johnson Outdoors is a leading global innovator of outdoor recreation equipment and technologies, with a portfolio of winning, consumer-preferred brands.
FishingDiving
Trolling motors
Regulators
Fish finders
Buoyancy compensators
Downriggers
Dive computers
Shallow water anchors
Masks/fins/snorkels
Digital charts & maps
Divewear
2 | JOUT-NASDAQ | 2024 Annual Report
JOUT-NASDAQ 2024 COMPANY SNAPSHOT (AS OF SEPTEMBER 27, 2024)
$592.8 m
NET SALES
15
PRODUC T
C ATEGORIES
1,200
EMPLOY EES
18
FACILITIES
WORLDWIDE
80
COUNTRIES
Camping
Watercraft
Kayaks & canoes
Personal & family
Fishing craft
cooking systems
Personal flotation devices
Paddles & accessories
JOUT-NASDAQ | 2024 Annual Report | 3
STRENGTH
FOR THE FUTURE
IN A TOUGH MARKETPLACE, WE'RE EMBRACING CHANGE TO ACCELERATE GROWTH AND EMERGE STRONGER THAN EVER
Challenging marketplace conditions and competitive pressures resulted in lower sales and an operating loss for our 2024 fiscal year. Total company revenue fell 11 percent from fiscal 2023 to $592.8 million. The total company operating loss was ($43.5 million) versus an operating profit of $11.7 million in the prior fiscal year.
Consumer demand for outdoor recreation products across our businesses remained soft, and we're not seeing indicators that these conditions are going away anytime soon. At the same time, we believe the outdoor recreation marketplace is resilient and attractive over the long term and that our brands will be well-positioned once conditions start to even out.
In Fishing, we were pleased to see solid trade support behind the Minn Kota® QUEST™ Series, featuring powerful, efficient and stealthy brushless trolling motor technology.
In Diving, we leveraged innovative marketing campaigns and introduced gear in standout colors to connect younger divers with the world-renowned SCUBAPRO® brand.
In Camping, we continued our focus on award-winning Jetboil® personal cooking systems. Fresh marketing campaigns built on unique partnerships to create new opportunities.
In Watercraft, our revolutionary power- assisted pedal drive, the Old Town® ePDL+™, continued to garner awards.
In short, we have strong brands that lead in their categories, we believe in the potential of these categories, and we're pursuing opportunities to accelerate growth now and into the future.
LEANING IN TO STRATEGIC PRIORITIES
This year we evaluated all aspects of the business to improve our financial results,
strategically redeploying resources to enable growth. We aggressively leaned in to our critical strategic priorities- innovation, our go-to-market strategy, and operational efficiencies.
Innovation helps brands stand out. In this highly competitive outdoor recreation marketplace, our focus on strong innovation cannot be more critical. We're taking our approach to the next level by investing in key talent and technologies and strengthening our consumer- centric innovation approach. Our focus remains on delivering the best outdoor experiences possible across all of our categories.
Digital presence meets consumers
where they are. The ever-evolving digital landscape requires us to do things differently to engage and stay in front of consumers. Our online presence provides touchpoints for consumers at every phase-product research, purchase, and post-purchase support. We're
4 | JOUT-NASDAQ | 2024 Annual Report
L E T T E R F R O M T H E C H A I R M A N
restructuring the way we go to market to enhance our capabilities, and we're confident this will accelerate sales and profitability.
Operational efficiency presents
opportunities. Improving profitability and strengthening our business operations continue to be important focus areas. We worked hard to drive operational cost savings and redeployed resources against our strategic priorities. The savings efforts were masked by this year's results, however, and we recognize there is more work to do.
which build on three pillars: sustainable operations, sustainable products and sustainable communities.
This year we highlighted our efforts and results in our first "Sustainability in Action" overview, available on our website. And we're pleased to note that the U.S. Chamber of Commerce selected the Clean Earth Challenge-a collaboration with the National Wildlife Federation-as a Best Community Improvement Program finalist. You can read more about our sustainability initiatives on page 9.
It all starts with our people, our greatest asset. We continue to seek to be
an engaging, inclusive workplace of choice. And we aim to create a future that benefits all stakeholders-from our people, customers, consumers and investors to the entire planet. We're confident in our ability to make that happen, and we invite you to join us in the adventure.
HIGHLIGHTING
SUSTAINABILITY
Since our founding in 1970, Johnson Outdoors has encouraged a sense of awe for the great outdoors and worked to inspire the preservation of our shared wild spaces. We consider it our responsibility to leave the world a better place and
to accelerate our environmental efforts,
SHAPING TOMORROW'S ADVENTURES
Fiscal 2024 was tough, but we've been through tough times before. We're committed to working hard to improve our financial performance while also investing in the strategic priorities that will position our brands for long-term growth.
Helen P. Johnson-Leipold
Chairman & Chief Executive Officer
JOUT-NASDAQ | 2024 Annual Report | 5
S U S TA I N A B I L I T Y
CHOOSE ACTION
S U S TA I N A B I L I T Y
Our brands connect people
with the outdoors, inspiring adventurers to pursue their passions while ensuring the natural spaces we treasure remain vibrant and accessible for generations to come.
Helen P. Johnson-Leipold
Chairman & Chief Executive Officer
Disclaimer
Johnson Outdoors Inc. published this content on January 10, 2025, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on January 10, 2025 at 16:15:09.387.