Skip to content Skip to navigation

Rip Curl Holds its Own in 2017

Print Friendly and PDF
  • A Rip Curl store in Hawaii - SES file photo

Compared to many competitors, Rip Curl reported solid financial results for the year ended June 30, 2017.

While Rip Curl is a private company, the company does file an annual report with the Australian Securities and Investments Commission.

According to numerous people with knowledge of the situation, Rip Curl is exploring a possible sale or outside investment.

However, press reports in Australia that a sale is imminent and that Billabong and/or Oaktree Capital Management are serious bidders for Rip Curl are not correct, SES has learned.

Rip Curl’s annual revenue increased 2.8% to A$489.2 million largely due to the expansion of the company’s retail footprint globally, including Rip Curl brand and multi-brand stores.

OUR SPONSORS

While retail conditions remain challenging, Rip Curl is focused on quality sales and is avoiding heavy discounting “despite this being prevalent in the global retail markets,” the company said in its report.

Net profit after tax jumped 83% during to A$18.4 million.

Rip Curl contained expenses during the year and is focused on better utilizing existing infrastructure, and reducing duplication of functions, roles and processes globally. That led to job cuts and $A5.5 million in one-time costs associated with the reorganization.

A 36% increase in cash from operating activities allowed the company to double its return to shareholders and to invest A$12 million back into the business, money that was mostly spent on upgrading and refurbishing company retail stores.

In the current year, Rip Curl is focused on increasing profitability and market share.

OUR SPONSORS

The company expects results to continue to improve due to:

  • Sales and profit growth in emerging markets and multi-brand businesses
  • A focus on reducing margin dilution in all regions.

 

More news

Last updated: : 02/16/2018 - 09:14

It’s hard to believe that Vans' results could keep getting better, but that’s exactly what happened - we have all the details on their global and regional numbers

Last updated: : 02/15/2018 - 11:14

We asked Global Director of Marketing Danielle McKenzie about the strategy behind the new marketing push and how it will be executed

Last updated: : 02/14/2018 - 15:50

Billabong reveals why staying independent is riskier than selling to Boardriders, including details about larger market conditions and Billabong's own internal challenges

Last updated: : 02/13/2018 - 13:10

A look at Volcom's top and bottom line as parent company Kering looks to sell the brand to focus on its luxury business

Last updated: : 02/12/2018 - 10:06

Friends and colleagues remember Boardriders CEO Pierre Agnes

Last updated: : 02/09/2018 - 12:44

A moving, inspirational and crowded memorial service was held for Boardriders CEO Pierre Agnes Friday morning in his beloved hometown of Capbreton, France

Last updated: : 02/08/2018 - 11:06

How 2017 turned out for Firewire, why the company's multi-brand strategy is working, why Firewire is using a consignment model for retailers in the U.S., and more

Last updated: : 02/07/2018 - 10:09

A look through Amazon's annual report shows many interesting numbers and information about the online behemoth's business

Last updated: : 02/06/2018 - 07:03

The company outlines who will take over for Pierre Agnes in Europe and as CEO and affirms its commitment to acquire Billabong

Last updated: : 02/05/2018 - 14:50

The company blasts his conduct and integrity in the press release announcing his departure