BAAR, Switzerland, December 9, 2014 /PRNewswire/ --
Electronic Cigarettes Holding AG announces promising results for the first half of 2014 and continued expansion of its business in Europe. The leading online marketer and distributor of e-cigarettes is also venturing into the offline markets in the first quarter of next year.
With online shops currently in 18 European countries and with more planned for next year, Electronic Cigarettes Europe, or ECE, is the leading actor on the online e-cigarette market today. Trading success and significant expansion generated an encouraging result (EBIT) of CHF 2.3 million in its first financial year (2012/2013). However, EBIT for the first half-year of 2014 already surpassed that of last year, indicating that the company will close the financial year on a high note. In 2015, ECE expects to see a continued increase in sales across its vast portfolio of electronic cigarette products - estimating EBIT to triple in size, amounting to CHF 15 million by the end of next year.
"We have a very attractive business model with the highest profit margin and EBIT in the global industry. As such we have second to none organic growth financed entirely by our own profit. This is quite unique," said ECE's CEO Robin Roy Krigslund-Hansen.
Meanwhile, e-cigarettes, which contain nicotine but no tar or carbon monoxide, have fast become a popular alternative for smokers looking to quit. ECE has currently over 50,000 customers around Europe - a figure which is likely to rise at least 60 per cent within the next 3 months, as new countries are introduced, taking the total number up to 25.
Until now only an online retailer, the company has set its sights on the offline shopping world, with best-selling brand DanSmoke™ soon to be available in big retail stores across Europe.
About Electronic Cigarettes Holding AG
ECE is dedicated to providing an attractive alternative for the millions of tobacco smokers around the globe. ECE is a rapidly growing independent e-cigarette company, with such top-selling brands under its banner as DanSmoke™, SmokeUS™, AlpSmoke™, OnTheGo™, and many more.
For more information please visit: http://www.eceag.com
For press & investor inquiries please contact:
Electronic Cigarettes Holding AG
International Brand Manager
SOURCE Electronic Cigarettes Holding AG