Airesis, the Swiss holding company of Le Coq Sportif and Movement Skis, reported a net loss of  CHF 11.4 million (€10.8m-£11.8m) for 2019, compared with a loss of CHF 891,000 in the prior year. Consolidated revenues rose by 3 percent to CHF 157.5 million (€149.7m-£162.6m).

Le Coq Sportif, in which Airesis now has a stake of 77 percent, booked a net loss of €10.2 million, compared with a profit of €863,000 in the prior year. The French sports brand’s sales went up by 6.9 percent to €132.3 million, lifted by a 23 percent jump in apparel, which overtook footwear sales for the first time. The gross margin declined by five percentage points to 45 percent. Le Coq’s Ebitda turned negative at €2.1 million, compared with positive Ebitda of €5.4 million in 2018.