CONTENTS MANAGEMENT REVIEW CEO’s report 2 ECCO at a glance 3 Five year summary 4 Financial review 5 Market development 9 Focus on China 14 Focus on Korea 15 Brand and products 16 ECCO Casual 18 ECCO Formal 20 ECCO Outdoor 22 ECCO Kids 24 ECCO Golf 26 ECCO Accessories 28 Innovation 30 ECCO Leather 32 Global Shoe Production 35 Customer satisfaction 36 Corporate Responsibility 40 Product compliance 45 Environment 46 Co-operation with Design School Kolding 48 Global trainee programmes 49 Risk factors and risk management 50 ANNUAL ACCOUNTS 2016 Statement by the management 54 Independent auditor’s report 56 Income statement 2016 58 Balance sheet as of 31 December 2016 59 Changes in equity statement 2016 61 Consolidated cashflow statement 2016 62 Notes on the Group and Parent Company accounts 63 ECCO Group structure as of 31 December 2016 80
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