The revenues of Movement Skis declined by 46.8 percent to 932,000 Swiss francs (€864,000-$1.0m) due to store closures, while the gross margin lost 2.0 percentage points to 50.0 percent. A good control of operating expenses limited the decline in Ebitda for the first half of the year, which decreased by CHF 0.2 million to CHF 2.0 million (€1.9m-$2.2m). It ended the period with a pre-tax loss of CHF 2.1 million (€1.9m-$2.3m), up from CHF 1.8 million for the year-ago period.
The brand expects a favorable outlook for the second half of 2020, with an order book at the same level as last year. In terms of brand distribution, Movement reorganized its portfolio and stopped distributing Le Coq Sportif products in Switzerland, as it is gradually abandoning the distribution of other brands to focus on its core business: the sale and production of high-quality skis and accessories. More about Airesis and its other property, Le Coq Sportif, in SGI Europe.
