IC Group news and archive

IC Group sells its 51 percent stake in Designers Remix

IC Group A/S has said in a statement that the company has divested all of its 51 percent stake in Designers Remix A/S to Hesselbjerg Holding A/S, which is controlled by Niels and Charlotte Eskildsen. For the financial year 2018/19, IC Group expects a flat revenue development from the continuing operations in total, measured in local currency....

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IC Group Q1 revenues decline by 18.3 percent

Revenue of the company’s continuing operations for first quarter, IC Group said, amounted to 379 million Danish krone (58 million dollars) corresponding to a reduction of 18.3 percent or 15.8 percent measured in local currency. The operating profit amounted to 14 million Danish krone (2 million dollars) before non-recurring costs in respect of...

ManagementFeatured

IC Group reports 9.2 percent revenue decline in FY2017/18

IC Group has reported 9.2 percent revenue decline measured in local currency from the Group's continuing operations to 1,535 million Danish krone (240.4 million dollars) for the fiscal year 2017/18. The company said, gross margin was 1 percentage point higher than last financial year. The operating profit (EBIT) amounted to 57 million Danish...

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IC Group upgrades earnings forecast for FY17/18

Based on the preliminary figures for the financial year 2017/18, the IC Group has announced that it expects earnings for the year under review to be realized at an EBIT margin of approximately 7 percent compared to prior outlook of approximately 6 percent or the original outlook mentioned in the annual report as approximately 5 percent. The...

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Amer Sports completes acquisition of Peak Performance

Amer Sports Corporation announced through a statement that it has completed the acquisition of Peak Performance from IC Group. The company said, Peak Performance business will be consolidated into Amer Sports as of July 2, 2018 and that the acquisition will have a minor positive impact on Amer Sports' 2018 financial results. "We are delighted to...

Management

IC Group's Q3 revenues drop 13.9 percent

Consolidated revenue amounted to 379 million Danish krone (60.9 million dollars) at IC Group, a reduction of 13.9 percent or 11.9 percent in local currency driven by the wholesale channel as well as physical stores. During the quarter, three stores were closed. Gross profit amounted to 228 million Danish krone (36.6 million dollars), and the...

Management

IC Group sells Peak Performance for 1.9 billion Danish krone

The board of directors of IC Group has announced that the company has completed the process of selling Peak Performance to Amer Sports Corporation at 1.9 billion Danish krone. Commenting on the completion of deal with Amer Sports, the Chairman of the IC Group board of directors Peter Thorsen said in a media statement: "It has been a long and...

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IC Group revises EBIT outlook for FY17/18

Based on the preliminary financial figures for the first three quarters of the financial year, IC Group’s board of directors has revised the earnings forecast for the financial year 2017/18. The company said that it now expects the EBIT margin to increase to approximately 6 percent compared to previous estimate of approximately 5 percent....

Management

IC Group reveals 2.2 percent decline in H1 revenue

Consolidated revenue for H1 2017/18 at IC Group amounted to 1,483 million Danish krone (246.7 million dollars) corresponding to a reduction of 2.2 percent or 1.5 percent in local currency). The company said, revenue decreased in the wholesale channel whereas the retail channel reported increased revenue. The gross margin increased by 1.3 percent...

Management

IC Group posts 4.8 percent revenue reduction in Q1

IC Group has announced that consolidated revenue for the first quarter of 2017/18 amounted to 810 million Danish krone (127 million dollars), a reduction of 4.8 percent or 4.4 percent in local currency. The company said, revenue decreased in the wholesale channel whereas the retail channel reported increased revenue driven by higher same-store...

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IC Group explores strategic options for Peak Performance

The board of directors of IC Group has decided to initiate a strategic review process of its fully-owned brand Peak Performance to identify whether IC Group – either partial or in full – also serves as the best owner of Peak Performance in the future. The company has appointed investment bank Rothschild & Co to assist in the process. Commenting...

Management

IC Group posts 3.2 percent revenue growth in FY16/17

Consolidated revenue for 2016/17 at IC Group amounted to 2,749 million Danish krona (439 million dollars) corresponding to a growth rate of 3.2 percent or 4.3 percent measured in local currency compared to 2015/16. The company’s gross margin declined by 1.5 percentage points to 55.3 percent and the consolidated operating profit for the year...