Online sex toy shop turns loss into profit

Sinful, an online business based in Højbjerg near Aarhus, reported a profit of nearly 4 million DKK for 2023, recovering from a 7 million loss in 2022. This improvement was largely due to reduced salary costs, as the number of employees decreased from 150 to 127 over the year. While sales revenue showed minimal growth from 364 million DKK to 368 million DKK, the company’s management does not expect this growth to continue, anticipating a sales decrease of 10-20% due to ‘difficult market conditions’. The profit forecast varies from a 2 million DKK loss to a 10 million DKK profit before tax. Founded in 2008, Sinful is Scandinavia’s largest sex toy retailer and sold the majority of its shares to Polaris capital fund in 2021 for an undisclosed nine-figure sum.