Bogner suffered considerable losses in terms of sales during the financial year ended on March 31, but it made higher profits. Revenues of €122.5 million for the year fell short of the previous year’s level by almost 25 percent, due to the closure of retail stores because of Covid.
On the other hand, the operating profit (Ebit) grew year-on-year from €3.0 million to €7.3 million. Cost reduction measures included job cuts, the outsourcing of the logistics center and the sale of the company’s headquarters for €55 million in the spring. This special item made a significant contribution to the positive result, the company noted.
The company’s own e-commerce business developed positively, with revenues up 30 percent and accounting for around 20 percent of total revenues. Sales expectations were also exceeded in the wholesale segment, where Bogner sees itself well positioned internationally, especially in growing markets such as Russia and the U.S., where the brand already enjoys high awareness. “We are restructuring the company and have repaid loans. At the same time, we have invested a double-digit million amount in performance improvement, internationalization and digitalization. To top it all off, we came out ahead of plan in terms of sales and earnings and closed this difficult year for everyone with a profit,” commented Gerrit Schneider, joint CEO of the company.
In the current fiscal year, Bogner intends to further focus its sales on the digital and wholesale channels. Wholesale revenues in the U.S. and China, for example, are expected to “grow disproportionately.” For its expansion plans in China, the company is pinning high hopes on the effect of the Winter Olympics in Beijing, which are due to take place next February.