Ecco announce record results despite Thai flood
16 March 2012In 2011, Denmark based footwear and leather manufacturer, 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.
‘We are proud to be able to present the best results in the company's history. We increased turnover by DKK1 billion (USD 177 million) compared with 2010, delivering a bottom line of DKK904 million (USD 160 million),’ says Chief Operating Officer Michael Hauge Sorensen, 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.’
Sales of Ecco’s golf shoes increased by 42% and markets in Asia and North America showed strong growth, while the European markets were generally affected by the economic situation.
Based on confirmed new orders for the spring-summer season and early indications for the autumn-winter, Ecco's management expect results for 2012 to show further growth.
