The Tecnica Group reported a 9.8 percent drop in sales to €382 million for 2020 but said it still managed to further improve Ebitda by 10.7 percent to €55 million.
The parent of brands such as Nordica, Blizzard, Tecnica, Lowa, Moon Boot and Rollerblade said its outdoor sales fell 10 percent, weighed down by repeated closures of specialty stores in key countries such as Germany. The ski and ski boot segment saw an even steeper decline of 18 percent. The inline skate brand Rollerblade performed quite differently, standing out with a 50 percent surge in sales to more than €40 million.
The company’s management recalled that the shutdown of sales channels in the first half of the year and the cancellation of the ski season in most of the markets hit the company hard. However, efforts to diversify products and expand internationally into more than 80 countries helped offset the impact of the pandemic. Italy accounts for only about 5 percent of the group’s turnover.
The July 2019 acquisition of Czech Lowa supplier Riko Sport, which specializes in the production of high-end footwear, helped the group achieve last year’s improved financial results. The company also attributed them to a strategy to reduce the seasonality of sales in recent years, along with measures to contain fixed costs, improve the efficiency of the distribution system and strengthen digital channels to interact directly with consumers.
Tecnica is an international group with ten subsidiaries and direct agencies and more than 40 distribution partners. It employs 3,150 people, including about 300 in Italy. In 2017, the founding Zanatta family, which still manages the group, opened the equity capital and brought in an investment company, Italmobiliare, as a minority shareholder.