Annual Report 2009 - Ecco

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Income statement for the year ended 31 December 2009 Note DKK ’000 Group Parent Company 2009 2008 2009 2008 1 Net revenue 5,041,200 5,374,142 3,326,366 3,744,638 Change in inventories of finished products and work in progress (252,463) 51,529 (367,274) 40,078 Costs of raw materials and consumables (1,718,903) (2,171,584) (2,128,327) (2,748,379) Other external costs (1,165,306) (1,132,674) (352,268) (404,929) 2 Staff costs (1,136,221) (1,087,946) (275,675) (260,157) 5,6 Amortisation and depreciation (272,383) (206,396) (74,804) (49,654) Profit before financials 495,924 827,071 128,018 321,597 3 Financial income 132,684 130,653 78,076 71,906 Financial expenses (168,945) (211,873) (103,453) (83,048) Profit from subsidiaries - - 212,059 323,942 Intercompany profit - - 17,645 (35,144) Profit before tax 459,663 745,851 332,345 599,253 4 Income taxes (114,306) (171,982) (33,108) (71,854) Group profit 345,357 573,869 299,237 527,399 11 Minority interests (46,120) (46,470) - - Profit for the year 299,237 527,399 299,237 527,399 Proposed allocation: Revaluation reserve for undistributed profit in subsidiaries 66,957 149,152 Retained earnings (107,720) 102,247 Proposed dividend 340,000 276,000 299,237 527,399 ECCO’s Annual Accounts 2009 / Income statement for the year ended 31 December 2009 43
44 Balance sheet as of 31 December 2009 Group Parent Company Assets Note DKK ’000 2009 2008 2009 2008 FIXED ASSETS: Intangible rights 39,144 37,405 18,162 16,214 5 Total intangible assets 39,144 37,405 18,162 16,214 Land and buildings 631,520 643,443 137,288 128,778 Plant and machinery 248,600 301,721 5,347 5,711 Other fixtures and fittings, tools and equipment 378,465 358,713 139,695 133,527 Property, plant and equipment in progress 70,320 82,141 38,801 38,772 6 Total property, plant and equipment 1,328,905 1,386,018 321,131 306,788 7,8 Investments in subsidiaries - - 1,189,017 1,100,861 8 Receivables from subsidiaries - - 643,363 724,318 9 Deferred tax 73,419 78,845 27,823 34,392 Total long-term financial assets 73,419 78,845 1,860,203 1,859,571 TOTAL FIXED ASSETS 1,441,468 1,502,268 2,199,496 2,182,573 CURRENT ASSETS: Raw materials and consumables 190,746 260,228 - - Work in progress 18,476 27,457 - - Finished products and commercial products 970,218 1,213,699 402,594 769,868 Total inventories 1,179,440 1,501,384 402,594 769,868 Trade receivables 670,477 656,367 149,973 162,499 Receivables from subsidiaries - - 449,241 432,742 Other receivables 102,446 163,954 2,340 77,293 4 Income taxes 52,465 14,537 68,314 32,506 Prepayments 60,803 68,565 29,362 29,326 Total receivables 886,191 903,423 699,230 734,366 Securities 27,408 19,795 212 52 Cash 647,641 470,180 134,673 56,882 TOTAL CURRENT ASSETS 2,740,680 2,894,782 1,236,709 1,561,168 TOTAL ASSETS 4,182,148 4,397,050 3,436,205 3,743,741 ECCO’s Annual Accounts 2009 / Balance sheet as of 31 December 2009
Page 1 and 2: ECCO ECCO Sko A/S Sko A/S Industriv
Page 3 and 4: 2 ECCO’s Annual Report 2009 /
Page 5 and 6: 4 ECCO achieved acceptable profits
Page 9 and 10: 8 Annual result Total income for 20
Page 11 and 12: 10 The ECCO organisation The ECCO o
Page 15 and 16: 14 The Markets in 2009 The market c
Page 17 and 18: 16 The staff is trained to give the
Page 19 and 20: 18 ECCO’s new store concept start
Page 21 and 22: 20 Customer service is priority num
Page 23 and 24: 22 At all ECCO’s factories, emplo
Page 25 and 26: 24 ECCO’s designers work closely
Page 27 and 28: 26 ECCO’s Thailand factory celebr
Page 29 and 30: 28 A team of designers, leather buy
Page 33 and 34: 32 Hunting down imitation ECCO shoe
Page 35 and 36: 34 Financial matters Financial risk
Page 38 and 39: ECCO’s Annual Accounts 2009 ECCO
Page 40 and 41: Independent auditors’ report To t
Page 42 and 43: eceive a joint taxation contributio
Page 46 and 47: Balance sheet as of 31 December 200
Page 48 and 49: Notes to the Group and Parent Compa
Page 56: Notes to the Group and Parent Compa
Page 59 and 60: 58 ECCO’s Code of Conduct & Envir
Page 63 and 64: 62 In 2009, the participants of ECC
Page 67 and 68: 66 The environment and working envi
Page 69 and 70: 68 ECCO group policy on the environ
Page 71 and 72: 70 2009 Statements from ECCO units
Page 73 and 74: 72 2009 Statements from ECCO units

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