German erotics concern Beate Uhse's wholesale turnover grew 16 %, mainly thanks to its Amazon collaboration. Its own online platform failed to meet expectations however.
Wholesale performance is excellent
The German company managed a 142.9 million euro turnover last year, slightly up from the 142 million the year before. Its operating income grew slightly to 10.3 million euro, but its net profit dropped from 3.68 to 2.54 million euro because of increased taxes. "Turnover and profit stayed within the 2014 range forecast by the board of directors", the company said.
Its wholesale activities went up 16.4 % and reached 33.5 million euro in turnover. "The growth comes from current European markets", the Dutch CEO, Serge van der Hooft, said. "We have an excellent policy when it comes to our own labels and have invested a lot in these, which is now paying dividends."
Beate Uhse already had a German collaboration with Amazon, but expanded that collaboration to England and France, with Spain and Italy to follow this year.
Own web shop below expectations
The nice increase was wiped off the table almost entirely because of a turnover drop in its own stores (partially because of the store closure in Berlin) and its own eCommerce issues. "Problems implementing a new online platform have led to disappointing web shop turnover", the CEO said. "These problems led to lower-than-expected online turnover and a huge one-time cost. Luckily, this will not happen again and we are ready to reap the rewards."
Beate Uhse has been around for 69 years and is Europe's largest erotics concern. The listed company has 86 stores, a large eCommerce branch, a wholesale division and a printing division for catalogs. It is present in 10 European countries and has some 20,000 erotic items in its product range.