What would TT brands do if ESN suddenly refused to make for them?

[TensorBackhand]

The numbers are in. As projected, despite the price increase and in turn a revenue increase, ESN still lost

Spoiler

€ 2.67 million for fiscal year 2022.

That's roughly 84% of the profit in 2021. In the red for the first time in over a decade.

Im surprised they are losing money. Maybe their gross margin is too low.

 

[zeio]

Well, it has nothing to do with ESN. In the face of geopolitics, no amount of gross margin is going to be high enough.

Butterfly became the villain last time when the US financial institutions screwed up and the rest of the world had to wipe their asses by paying the price - global inflation (global = anywhere but the US). Putin also touched on that in his latest interview with Tucker Carlson, which I had pointed out in a previous thread [1, 2]. It's ESN's turn this time.

https://youtu.be/fOCWBhuDdDo?t=4530

 

[zeio]

The numbers are in. As projected, despite the price increase and in turn a revenue increase, ESN still lost

Spoiler

€ 2.67 million for fiscal year 2022.

That's roughly 84% of the profit in 2021. In the red for the first time in over a decade.

Good news and bad news for ESN.

Sales were up enough in 2023 to stop the bleeding, but profit is still down by a lot due to energy costs. 5th consecutive year profit went down since 2018, ignoring 2020. No dividends this year (€1.2 mil of the loss last year were due to dividends). Other than 2020, the last time they made this much ONLY was back in 2011 but business was on the rise. Note that the revenue since 2022 includes those from Spinsight ESN Digital and ESN Sports ACE.