Esso, a Danish retailer, published the 2014 financial report in March. The company's sales last year reached record highs despite difficult economic conditions.
“2014 was a year of testing, but we were able to achieve a good result - I would even say the best result ever,” says Esso CEO Dieter Kasprzak.
Esso's pre-tax profit taxed from 165 million euros in 2013 year to 176 million euros in 2014 year (+ 6,6%). This indicator is equal to 15% of the company's total revenue.
Profit after tax also increased - by 7,6% - and amounted to 114 million euros.
Net profit for the reporting period increased from 1,1 to 1,2 billion euros. The value of assets increased by 15,2%, from 462 million euros to 532 million euros. For the first time, Esso Leather’s sales turnover exceeded 100 million euros. Esso Leather supplies raw materials not only to the Esso group, but also third-party brands.
“One of the reasons for this success is the growth strategy we have followed for the past three years. The strategy has helped us modernize our business, reduce costs and improve product quality, ”says Ecco CFO Steen Borgholm.
In the 2014 year, the retailer took another important step as part of its development strategy until the 2020 year.
“In the coming years, Ecco will be more proactive and focused on growth and customer-driven growth,” adds Borgholm. Ecco intends to open 400 stores within six years.
The company still has concerns about the markets of the Russian Federation and Ukraine, but in general this year Ecco expects a result comparable to the 2014 year.
Let us remind you that Esso is a Danish footwear manufacturer with a 50-year history. The brand stores are represented in 88 countries of the world. As of the end of 2014, the company had 1215 stores and 1845 points of sale in the shop-in-shop format.