ECCO records improved performance in 2004
Danish shoe group ECCO has released figures for 2004 which show strong performance, increased earnings and growth in all sales regions and product categories.
Pre-tax profit rose DKK 86.2 million ($15.253 million) or 71.7% to DKK 206.4 million ($36.522 million) from DKK 120.2 million ($21.271 million) in 2003. Net profit reached DKK 150.7 million ($26.669 million) compared with DKK 61.8 million ($10.936 million) in 2003. The group attributes the rise in profit to a 7.3% sales increase to 12,045,000 pairs of shoes, a record-high number, and the highest growth rate for the past five years. Growth was recorded in all product categories, in which ECCO has chosen to be in the market.
Net revenue rose to DKK 3,394 million ($588,472).The rate of increase was 7.1% on the year before and would have been 9.8% at unchanged exchange rates. The performance improvement was generated through growth in all sales regions and continuing investments in market penetration in new markets in Asia and
The group expects growth to continue in 2005 and exceed 2004 results, with special focus on the growth markets in Eastern Europe, Asia and the
ECCO has also announced the signing of an endorsement agreement with golf legend Colin Montgomerie for its golf shoes. The player will wear ECCO golf shoes exclusively during all his on-course activities, display the logo on the sleeve of his golf shirt and appear at the group’s promotional functions.
