Swiss holding company Airesis announced as part of the presentation of preliminary figures that Le Coq Sportif, which will provide the French teams at the Olympic Games in Paris with around 370,000 items of clothing and equipment, suffered a loss of around 36 million Swiss francs (€37.3m) in 2023 and will again postpone the publication of its full annual results.
Montreux-based Airesis initially postponed the publication of its final report from the end of April to the end of May. Now, the company has been given a new deadline (June 30) to publish the full annual results. However, the Swiss Stock Exchange’s regulator, SIX Exchange Regulation, has suspended Airesis’s trading for the time being since June 3.
Despite recent financial problems and concerns about Le Coq Sportif’s ability to deliver the Olympic kits on time, Marc-Henri Beausire, CEO of Le Coq Sportif, confirmed that the company is not at immediate risk of bankruptcy.
Airesis, which owns 78 percent of Le Coq Sportif, writes in its preliminary report for 2023 that sales have fallen year-on-year to CHF 121 million (€125.5m) from just under CHF 150 million (€155.6m) in 2022. The net loss also increased significantly to CHF 36 million (2022: CHF -3.9 million). However, the company is confident about the current 2024 financial year and specifically expects sales to increase by around 40 percent, not least due to the Olympic and Paralympic Games.
