Geneva (awp) – The holding company specializing in sporting goods brands Airesis has widened its half-year loss. For the future, the group considers it essential to optimize its portfolio by adopting “a differentiated and targeted strategy” for each of its investments, in order to “maximize opportunities while minimizing risks”.
In the first half, the Clarens-based company indicates that it recorded a net loss of 19.4 million Swiss francs for consolidated revenues of 79 million, compared to 63 million a year earlier.
The total turnover of the main holding, Le Coq Sportif, increased by 30% to 82 (63.2) million euros. The gross margin increased to 54%, after 44% a year earlier, thanks to strict control of production costs. Marketing investments and sales costs weighed on operating income. The Ebitda loss worsened to 12.0 (-5.9) million euros and the Ebit loss to 15.4 (-8.1) million euros. The net loss stands at 18.2 (-10.5) million euros.
Le Coq Sportif plans to maintain the momentum gained from the Olympic Games and collaborations with medalists and the launch of limited edition products should continue to boost sales.
Airesis’ other participation, Movement Ski, has a turnover of 0.4 (0.3) million Swiss francs. This company is going through a difficult period, particularly because of winter seasons characterized by excessively high temperatures. A recovery strategy has been put in place. The brand will review its pricing policy and its marketing operations and will seek to reposition itself in “promising market segments”.
Le Coq sportif taken to court
Last week, the French Rugby Federation announced that it was taking into liquidation the company that was its equipment supplier between 2018 and 2024, now replaced by Adidas, demanding 5.3 million euros (around 5 million Swiss francs) from it. unpaid debts. This, under the sponsorship contract, unpaid royalties, late payment interest, specified the president of the FFR. Representatives of the company were to be summoned on Tuesday before the Commercial Court of Troyes, near the company’s headquarters, but the case could be referred to a Parisian court, the newspaper “L’Equipe” understands.
Contacted by AWP, neither the Commercial Court of Troyes nor that of Paris provided any information on this case. Airesis did not respond to the requests.
At the end of June, when it published its 2023 annual results after several postponements, the company said it was confident for 2024. Shoe sales experienced strong momentum and the Olympic and Paralympic Games should support sales. Turnover is expected to increase by around 40%.
Airesis, an investment company located near Montreux and whose shares are listed on the Swiss Stock Exchange, owns 78% of the gallinace brand bought in 2005 and 91% of the freeride ski brand Movement Group.
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