CONTENTS MANAGEMENT REVIEW ECCO in 2020 at a glance 4 CEO’s report 5 2020 highlights 6 Financial review 8 Five year summary 10 ECCO global sales 11 ECCO sales in Greater China (EGC) 12 ECCO sales in Asia Pacific (EAP) 13 ECCO sales in Europe 14 ECCO sales in the Americas 15 ECCO sales in Russia 16 ECCO sales in the Middle East and Turkey 17 World map 18 ECCO Global Marketing 21 ECCO Women’s 23 ECCO Men’s 25 ECCO Kids 26 ECCO Outdoor 28 ECCO Athleisure 29 ECCO Golf 31 ECCO Accessories 32 ECCO Leather Goods Unit 33 Product collaborations 34 Research and development 36 ECCO shoe production 38 ECCO Leather 40 ECCO Tannery Group 42 ECCO cares about our consumers 44 ECCO cares about our employees 46 ECCO cares about our local communities 48 ECCO cares about the environment 50 Environmental targets 54 Risk factors and risk management 55 Corporate governance 58 ECCO Code of Conduct 59 Code of Conduct audits 60 ECCO business model 61 ECCO ANNUAL ACCOUNTS 2020 Statement by the management 64 Independent auditor’s report 66 Income statement 2020 68 Balance sheet as of 31 December 2020 69 Changes in equity statement 2020 71 Consolidated cashflow statement 2020 72 Notes 73 Group structure as of 31 December 2020 90
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