PRESS RELEASE – 13 March 2018

2017 – Another good year for ECCO
 

In 2017, ECCO Sko A/S achieved its best financial result to date, in spite of a challenging retail environment.

The speed of change in fashion footwear is accelerating, with a fast expanding e-commerce industry forcing significant change in the retail sector.

ECCO is adapting to the new situation and has again been able to deliver a very satisfactory result.

Profit before tax for the year 2017 was EUR 184m, on a turnover of EUR 1,276m, compared to a profit before tax of EUR 170m in 2016. At comparable exchange rates, this is equal to a 10% increase.

“I am pleased to see how our dedicated organisation has stepped up and performed very well in 2017,” said Steen Borgholm, CEO of ECCO Sko A/S. “We have continued investing in the future and stayed committed to our strategy without losing sight of short-term performance.”

The majority of growth came from Asia. By the end of 2017, Asia Pacific made up 35% of the Group’s net revenue, while the Americas made up 22%, and EMEA (Europe, Middle East, and Africa) 43%.

In 2017, the traditional retail and e-commerce business grew 21%, with e-commerce alone growing 47%. Steen Borgholm added: “As a global brand with a large store portfolio and an increasingly effective online presence, we are well positioned to benefit from the changing trends, where consumers search and shop across different channels.”

 

Source and full annual report: http://media.ecco.com/GroupCommunication/ecco-annual-report-2017/


ECCO is part of the Chamber's Premier Membership - The Advisory Board

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