Another record year for ECCO
"2014 was a year of many challenges, but by responding quickly, and thanks to a strong performance throughout the ECCO Group, we succeeded in pulling off a good result – our best ever, as a matter of fact", says ECCO CEO, Dieter Kasprzak.
- The pretax profit increased from EUR 165m to EUR 176m - an increase of 6.6%. The pretax profit is equivalent to more than 15% of the net revenue.
- Profit after tax also increased, by 7.6%, from EUR 106m to EUR 114m.
- Net revenue rose, from EUR 1.1bn to EUR 1.2bn.
- Equity increased by 15.2%, from EUR 462m to EUR 532m.
And, for the first time, the ECCO Leather division achieved a turnover of more than EUR 100m. The leather division supplies ECCO as well as external brands.
"Another important reason for the satisfactory result is the controlled growth strat- egy that we have followed over the last 3 years. The strategy has enabled us to streamline our business, reduce costs and improve the overall quality of our products,” explains ECCO CFO, Steen Borgholm.
ECCO took another important step forward in 2014 with its new 2020 Strategy.
"In the coming years, ECCO will pursue a more active strategy targeted at growth, with investments in all consumer-facing activities,” explains Mr. Borgholm. Looking ahead to 2015, he says that ECCO will still face market challenges in the Ukraine and Russia. “But, overall in 2015, we expect a result on par with 2014, with the aim of growing our profits in the following years."
The ECCO Annual Report 2014 and press photos are available for download at newsroom.ecco.com.
Malene Emilie Severinsen, Head of External Communication: +45 2026 9964, or email@example.com
ECCO, a world-leading brand of shoes combining style and comfort, has built its success on design and leather quality, and innovative technology. Founded in 1963, ECCO is one of the few major shoe manufacturers in the world that owns and manages every aspect of its leather and shoe productions and its retail sales. ECCO is also among the largest producers of high quality leather - customers include several of the world’s leading luxury brands. Today, ECCO products are sold in 88 countries at 3,060 ECCO shops and shop-in-shops, and at more than 14,000 sales points around the world. The company is family-owned and employs 19,800 people worldwide. www.ecco.com
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