CONTENTS MANAGEMENT’S REVIEW Five year summary Highlights from 2015 CEO’s report Financial review Brand and products Leading-edge design Using outstanding materials Product highlights ECCO Golf Leather and shoe production Market development Focus on Canada Focus on Australia Toosbuys Torv UPSTAIRS – Æ Laut Environment Risk factors and risk management Corporate responsibility Statement by the management ANNUAL ACCOUNTS 2015 Independent auditors’ report Accounting policies Income statement 2015 Balance sheet as of 31 December 2015 Consolidated cashflow statement 2015 Notes on the Group and Parent Company accounts ECCO Group structure as of 31 December 2015 2 3 4 7 10 12 14 16 23 25 29 34 35 36 38 40 44 46 51 54 55 58 59 61 62 72
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