For the sixth consecutive year, ECCO successfully increased profits and achieved record sales. Net sales reached EUR 1.3 billion, and profit before tax was EUR 183 million.
“2015 was characterised by ECCO successfully launching innovative collections and investing in the future. These results were achieved by the organisation executing our strategies well, a prerequisite for continuous profit improvement in challenging markets worldwide”, says CEO, Dieter Kasprzak.
2015 Highlights:
- Net revenue increased by 7.4%.
- For the first time, sales outside Europe grew to more than 50% of the total Group revenue, achieving ECCO’s aim to create a well-balanced global market portfolio.
- Profit before tax increased to EUR 183 million, an increase of 4%, with a profit ratio of 14.6%.
- ECCO and its partners opened 174 new shops, and rationalised the shop portfolio, resulting in a net of 95 openings.
- Investments increased by 18% to EUR 52 million.
- Equity rose to EUR 579 million, and the solvency ratio was 61.1%.
“The result is satisfactory and slightly better than the level of EUR 176 million achieved last year”, says ECCO CFO, Steen Borgholm. “We managed to close the significant gap created by the drop in sales in Europe. This was done through accelerated shop openings, launching more e-commerce sites, and working closely with our wholesale partners. With the exception of Russia and Ukraine, we generated sales growth in all three channels, retail, e-commerce, and wholesale - and in all three international regions. This is a good achievement in a difficult market environment”.
Further information:
Contact: Søren Kragh Pedersen, Head of External Communication: +45 20 25 70 18 (dir.) or via ECCO’s main number: +45 74 91 16 25. Alternatively press@ecco.com.
The Annual Report 2015 and press photos are available at newsroom.ecco.com.
About ECCO
ECCO, a world-leading brand of shoes combining style and comfort, has built its success on great design and leather quality, and innovative technology. Founded in 1963, ECCO is one of the few major shoe manufacturers in the world, which owns and manages every aspect of its leather and shoe productions, and its retail sales. ECCO is among the largest producers in the world of high-quality leather, which is used in ECCO’s shoes, and own production of leather goods and is also sold to several leading luxury brands. Today, ECCO products are sold in 87 countries in more than 3,300 ECCO shops and shop-in-shops, and at more than 14,000 sales points around the world. The company is family-owned and employs more than 19,000 people worldwide. www.ecco.com.