Bogner: continued growth in 2019/20 financial year

Bogner: continued growth in 2019/20 financial year

The manufacturer of apparel Willy Bogner GmbH & Co. KGaA, Munich/Germany, continued its growth course of the past years in the 2019/2020 financial year. BOGNER generated €163 million in sales. Earnings before taxes (EBT) amounted to €2.6 million following €0.3 million in the last comparable fiscal year 2017/18.
Bogner’s business was very solid on entering the corona virus crisis. The company responded swiftly and flexibly to the lockdown, and took resolute countermeasures. It is also about to conclude a financing package. In addition to a syndicated loan, it will include state subsidies from LfA Förderbank Bayern to cover the repercussions of the corona virus pandemic.
Even before the current crisis, Bogner had worked with the management consultancy EY to develop a performance program designed to reduce complexity and make the company faster, more flexible, and more profitable in the long-term. The program involves a gradual reduction in staff. A total of around 150 jobs will be reduced over a period of 2 years. This will particularly affect the administration in Munich and the company’s own logistics in Heimstetten/Germany. The logistics will be outsourced to a service provider.

Source:
dfv media group
More information: Willy Bogner GmbH annual sales