May 02, 2016 – In 2015, Elan Group increased its revenues to €71.3 million, while the Group’s audited net profit amounted to €3.8 million. Business results in the first quarter of 2016 are encouraging, although there is a new Management Board and ownership. Compared with the same period last year, parent company’s operating income was increased by over 30% during the first quarter, primarily due to the growth in the wind energy sector.

“Elan will fully focus on development of Elan brand in strategic winter-sport markets with the ambition to strengthen its position as the innovation leader of alpine skis. Transformation of the brand requires clear focus of funds and activities towards the alpine ski market, utilizing digital and innovative marketing tools. We are confident that this is the most suitable direction for the Elan Company,” commented Mrs. Michaela Stitz, Chairwoman of the Board.

It should be noted that on March 25, three new Board members were appointed, namely:
• Michaela Stitz, former Vice President and General Manager for Central and Eastern Europe at Nike, was appointed as a non-executive Director and the Chairwoman of the Management Board,
• Pascal Aymar, former Vice President of Marketing at Reebok and Adidas for Asia Pacific and former Brand Director at Salomon, was appointed as a non-executive Director, and
• Jeffrey Tirman, the Director of a London based credit investment fund, was appointed as the Chief Executive Director.

We believe that their global experience and expertise will strengthen Elan’s innovation capabilities and continued development towards new paths in the industry.

Elan’s Board decided to eliminate the sponsorship program for ski-jumping skis due to new strategic objectives. Program was focused on marketing and not on sales, and it accounted for a significant share of Company’s marketing expenditure structure. Since the sponsorship of ski-jumping has not produced the desired effect (USA, Canada, France), former ski-jumping program funds will be redirected towards activities that aim to strengthen the brand on our key markets, as well as on the transformation of market activities towards digital marketing. Digital marketing is currently very impactful in the sports equipment marketing.

“We want to sell our ski-jumping program, if possible, to an acquirer who will be able to successfully continue with the production, which is based on years of experience and accumulated knowledge. Talks in this direction are still underway. Elan will do its best to help with the establishment of a program that will strive to continue with the production of top quality ski-jumping skis – both for promising young ski-jumpers and for world class athletes”, the Company explained, while adding that they will reveal their final arrangements when and if they manage to agree on a deal that would secure the continuation of ski-jumping skis production.

Elan is extremely proud of its ski-jumping history and related achievements, especially on this year’s successes achieved by Peter Prevc. All these achievements will be forever enshrined in the rich history of Elan brand.

“It is a fact that we, as a company, have responsibility towards our key stakeholders. We must direct Company’s activities towards solutions that are best for our long-term existence and development”, Elan noted.