According to its recently published consolidated financial statements, the Bodelshausen-based Marc Cain Holding GmbH recorded a loss of 10.86 million euros in the financial year from January 1 to December 31, 2020. In the previous year, the company was able to report a profit of over 5 million euros.
Sales fall by 20 percent
This difference to the previous year is mainly due to the 20 percent drop in sales revenue between 2019 and 2020. While Marc Cain generated sales of 248.69 million euros in the 2019 financial year, it was only 197.55 million euros in the 2020 financial year.
The majority of sales of 71 percent (140 million euros) are distributed among wholesalers, followed by retail with almost 16 percent (30.77 million euros). In spite of this, the company took 25.27 million euros through its web stores new digital shopping concept only just under 12.7 percent, which leaves a remaining share of less than 1 percent and 1.45 million euros for other channels.
Geographically, sales of 98.36 million euros in Germany and 99.19 million euros abroad are almost equally divided between these two regions.
Outlook for 2021
In January of this year, Marc Cain sold shares in the subsidiary Marc Cain Russia OOO, which is why it was deconsolidated in the 2021 financial year. As a result, the company expects a deconsolidation loss; “However, this does not result in any significant liquidity effects”, according to the group.
In the 2021 financial year, Marc Cain also submitted an application for bridging aid III, which was approved in June 2021. “This will result in a positive liquidity effect in the single-digit million range in the 2021 financial year,” predicts the company.