The sustainable furniture company Hannun begins trading on the Stock Exchange

The company Hannun, dedicated to the artisanal production of sustainable furniture sold online, debuted this Wednesday on BME Growth, the alternative stock market, at the Barcelona Stock Exchange. The debut on the trading floor took place after a capital increase of eight million euros.

The Terrassa startup entered the market with a share value of 1.01 euros, which implied an initial total valuation of 31.6 million euros, registering an 11.88% increase on its first day of trading, exceeding 35 million euros.

The partners and founders of the furniture and decoration company, Mauricio Badia and Joan Álvarez —who assumes the role of CEO— believe that by increasing their financial capacity they will be able to underpin Hannun's growth and boost the incipient demand for their products, with entry into new international markets.

Currently, online sales reach 20 countries, with a specific weight in Spain, which still generates 50% of a business that grew exponentially during the pandemic, and high demand in markets such as France (20% of revenues) or Germany (15%).

At the beginning of 2021, the company closed a three-million-euro financing round that brought investors such as Josep Casas, creator of Naturitas; Javier De Rosa, MiFarma, Andreas Mihalovits or the founders of AB Biotics, Sergi Audivert and Miquel Angel Bonachera, into the capital; the latter joined the company's board of directors.

Although the company has not made revenue or net profit estimates for this year, Hannun has been doubling sales for several years, according to its CEO, Joan Álvarez. The firm closed 2021 with a turnover of 4 million euros.

Hannun's business is based on alleviating the environmental problems that, according to its promoters, are caused by the industrial furniture and decoration industry dedicated to fast furniture. For this reason, the firm created in 2018 works with artisanal products on demand with 60 workshops that employ more than 200 wood artisans who prioritize the use of recovered material, which is less polluting, or from sustainably managed forests. The local production of these workshops spread throughout Spain, many of them in Barcelona and its area of influence, stands out.

Maurici Badia, an engineer by training, is the main architect of the project, which seeks "an innovative business model that bets on uniting business growth and respect for the environment," as he stated after the traditional bell ringing with which BME welcomes new listed companies. So far this year, six companies have already joined the alternative stock market.

The brand's offering ranges from indoor and outdoor furniture, a specific range for children's furniture and office, to decorative products, such as lighting items. They also have home textile products in their catalog.

All of Hannun's production has FSC, PETA, and PEFC environmental certifications, according to the company, which is the first B Corp certified furniture retailer in Europe.