First quarter 2010 results
06/05/2010
First quarter 2010: Solid growth
Le Coq Sportif
Boards & More
Airesis attained a net profit of CHF 5.3 million (part of the group: CHF 3.9 million) with its two participations, Le Coq Sportif (net profit: EUR 2.9 million) and Boards & More (net profit: EUR 0.7 million), showing solid growth.
Participations
Le Coq Sportif
Revenue grew by 10% in the first quarter as compared to 2009. Net profit reached EUR 2.9 million (Q1 2009: EUR 0.8 million) and confirms the brand’s positive growth.
In June a Le Coq Sportif boutique will be opening its doors in the Les Halles area of Paris. It will serve as the brand’s premier retail store in the French capital. As regards products, a textile development center will be opening in Romilly-sur-Seine in September 2010.
Le Coq Sportif (KEUR)
Q1 2009
Q1 2010
Total revenue
21'810
23'940
10%
Gross profit
10'268
12'431
Gross profit in %
47%
52%
Operating expenses
-8'844
-8'778
EBITDA
1'424
3'653
EBIT
1'255
3'304
Net result
775
2'897
Direct sales
16'457
19'615
19%
Wholesales
1'824
2'200
21%
Royalties
1'476
1'190
-19%
Other revenue
2'053
935
-54%
Total revenue
21'810
23'940
10%
Boards & More
Boards & More started 2010 with a solid performance in terms of sales. These grew by 11% as compared to 2009 and expenses have been brought under control. Net profit of EUR 0.7 million, as compared to EUR 0.4 million in 2009, is more than satisfactory. However, it is still too early to forecast the results for the end of the year.
Boards & More (KEUR)
Q1 2009
Q1 2010
Total revenue
7'040
7'807
11%
Gross profit
2'897
3'497
Gross profit in %
41%
45%
Operating expenses
-2'312
-2'648
EBITDA
585
849
EBIT
570
742
Net result
437
699
Key consolidated figures
Key consolidated figures (CHF million)
% held
Net result 2009
Participation Le Coq Sportif
69%
4.3
Participation Boards & More (brands North Kiteboarding, ION, Fanatic, North Sails Windsurf)
100%
1
Airesis and others
0
Net result (consolidated)
5.3
Net result (consolidated) attributable to Airesis shareholders
3.9
(KCHF)
31.03.2009
31.03.2010
Market capitalization
36’080
99’179
Total consolidated revenue
43’202
46’484
Total revenue Le Coq Sportif
32'665
35’053
Total revenue Boards & More
10'537
11’431
Gross profit
19’662
23’322
Gross profit in %
46%
50%
Operating result
2’454
5’920
Net result
1’822
5’263
Net result, attributable to Airesis shareholders
1’460
3’931
Airesis participations offer one or two collections per year. These collections generate seasonal peaks that may vary depending on how quickly clients place their orders.
Results for the first 9 months of 2011
30/11/2011
Results for the first 9 months of 2011 ...
Key figures 2010: A promising evolution
30/03/2011
Le Coq Sportif: Revenue growth of 8% to reach EUR 89.8 million (2009: EUR 83.5 million) // Net result of EUR 4 million (2009: EUR 2.7 million) ...
Change in the shareholding structure
15/12/2010
As expected, the heirs of Robert Louis-Dreyfus would like to partially divest from their shareholding in Airesis through the time. For a part of their shares, an agreement was reached between them and ...
Annual Report 2010
2011: 9 month results
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