Marshall Group integration turning the volume up to 11

Marshall Group is now three months in the making after the successful acquisition of Marshall Amplification earlier this spring. As of June 30th, the Group pro forma numbers for the last twelve months added up to about 4 billion SEK in revenues and around 700 million SEK in operating profit.

The Marshall Group is now home to Marshall amplifiers, speakers and headphones, Marshall Records, Marshall Live Agency, Marshall Studio, Natal Drums, Urbanears and adidas Headphones. Bringing together around 800 employees across eight locations globally with full control of the iconic Marshall brand.

The company has identified untapped product categories opportunities that Marshall can enter with a strong value proposition through the power of the combined group. From expanding the presence of the brand in consumers’ lives, both at home and on the move, to fulfilling musicians needs with a fully-fledged offer of guitar amps across valve, solid state and digital.

“We’re putting the right conditions in place to speed up innovation for both musicians and music lovers across existing and new product categories, building on the amazing legacy of the Marshall brand. Everyone is doing a great job learning from each other, collaborating and coming together under a shared vision. We’re confident in our ability to sustain our current growth momentum with the right levels of investments while fully capturing the profitability gains linked to the creation of the Marshall Group in a sustainable way” says Jeremy de Maillard, CEO of Marshall Group.

As of June 30th, the Marshall Group pro forma numbers for the last twelve months showed 24 percent revenue growth year on year, adding up to about 4 billion SEK in revenues and around 700 million SEK in operating profit (after adjustment for extraordinary items). The upcoming Q2 results, which will be published in early September, will be the first showing consolidated numbers post acquisition, where Marshall Amplification will impact the numbers from May onwards. For the full year of 2023, reported numbers will reflect 8 out of 12 months for the full Marshall Group, but high-level pro forma numbers will be provided to indicate the full year run-rate of the company.

“Our rational for the deal is materializing as planned and the pro forma numbers are showing benefits throughout the P&L, balance sheet and cash flow statements. We’re now focused on consolidating numbers across the entire Marshall Group so we can continue to report with the standards we’ve adopted over the past few years” says Martin Axhamre, CFO and Deputy CEO of Marshall Group.

The first product launch as the new group came already on July 28 with the release of the Studio JTM amplifier. Launching to honour Jim Marshall on what would have been his 100th birthday, the Studio JTM is an homage to the amp that started it all. Hand-built at the world-class factory in Bletchley, England, the Studio JTM painstakingly reproduces the legendary, warm, and smooth tone of the original 30W Marshall JTM that inspired generations of musicians. And there is more on the horizon, with Marshall Group looking forward towards new and unique ways of shaping the future of audio technology across amplifiers, speakers, headphones and new product categories.

“As Chairman, I see two very complementary businesses, smoothly getting together as one, which will fully unlock the potential of a very powerful brand. The growth potential is massive in speakers, headphones and amplifiers, as well as in new high-potential verticals, through a current and future string of high-quality products conceived and delivered by a top team. As a shareholder, I see an exceptional company uniquely ticking three major boxes: iconic brand, strong growth, and high profitability with positive cash generation” says Henri de Bodinat, Chairman of Marshall Group, and representative of Time for Growth, one of the Group’s main shareholders.