LONDONDERRY, N.H.--(BUSINESS WIRE)--“We are proud to be able to present the best results in the company’s history. We increased turnover by DKK 1 billion (USD 177 million) compared with 2010, delivering a bottom line of DKK 904 million (USD 160 million),” says Chief Operating Officer Michael Hauge Sørensen, who continues:
“A lot of things went well for ECCO in 2011, but the year was not without challenges. The low point came when our factory and tannery in Thailand were hit by massive floods in October. But our employees pulled together and displayed tremendous determination and ability to get things up and running again.”
In terms of products, we were spot on with our collections, which were well received all over the world. This was of vital importance in our emerging strongly from 2011. ECCO will not be resting on its laurels, however. We will continue to develop new exciting products and focus on even better customer service.
ECCO’s 2011 annual report is available online at: http://www.ecco.com.
- In 2011, ECCO achieved the highest surplus in the company’s history with a profit before tax of DKK 904 million (USD 160 million).
- Profit before tax is up 43% on 2010 and represents 13% of net turnover.
- In 2011, ECCO increased its net revenue from DKK 6.1 billion (USD 1.1 billion) to DKK 7.1 billion (USD 1.6 billion), an increase of 16%.
- The equity ratio increased from 55.6% to 57.0%.
- Equity rose from DKK 2.6 billion (USD 460 million) to DKK 2.9 billion (USD 513 million).
- The very satisfactory results were based on successful new collections in particular.
- Sales of ECCO’s golf shoes increased by 42% and today ECCO is regarded as the most talked-about and sought-after brand in this segment.
- ECCO’s markets in Asia and North America showed strong growth, while the European markets were generally affected by the economic situation.
- The outcome could have been even better if ECCO’s shoe factory and tannery at Ayutthaya in Thailand had not suffered catastrophic flooding in October with considerable human and commercial consequences.
EXPECTATIONS FOR 2012
• Based on confirmed new orders for the spring season and early indications for the autumn, ECCO’s management expects the results for 2012 to show further growth.
ECCO, a world leading brand of shoes combining fashion and comfort, has built its success on uncompromising quality and innovative technology. ECCO is the only major shoe manufacturer in the world to own and manage every step in the shoemaking process. ECCO employees are the life force behind the products: designing, developing, producing, selling and taking responsibility for every last detail of the brand experience. ECCO is expanding at a fast pace, and today products can be found in almost 4,000 branded sales locations worldwide. However, ECCO's aim has never been to be the biggest - but always to be the best. ECCO USA is based in Londonderry, New Hampshire. For more information: visit www.eccousa.com, 800.886.3226.