Le Coq Sportif upbeat as sales surge, losses fall
The books may not be balanced yet, but French sports label Le Coq Sportif expects to be profitable in 2017, while also driving its revenue upwards.
And after Le Coq Sportif's encouraging performance in its 2016 fiscal year, Airesis management, led by CEO Marc-Henri Beausire, is upbeat about the chances of achieving its goal.
"Aggregate sales for the year by our subsidiary Le Coq Sportif are currently growing by €10m compared to the previous year," Airesis said in a release. It said its main growth drivers are France (+30%) and Spain (+28%) with apparel energising the whole business. It added that other subsidiaries are also showing strong growth potential in the medium term.
Le Coq Sportif is expected to close the year with revenue of nearly €111m, compared to €101m in 2015 after the brand boosted its visibility by outfitting top-tier professional football clubs such as Saint-Ètienne in France and Fiorentina in Italy.
Its EBITDA is improving too, although it is not yet in profit. The operating loss is expected to lessen from €7.4m to around €5m with Airesis saying operating income is still "severely penalised by the default of one of [its] distributors during the year," as well as by currency exchange effects.
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