The Danish sporting goods provider Hummel A/S was able to significantly increase its sales in the 2024 financial year and return to the profit zone. This emerges from current figures that the company published on Monday.
According to this, sales in the past financial year reached an amount of 326 million euros. This corresponded to an increase of nine percent compared to 2023. The traditional company belonging to the Danish group of companies Thornico A/S was able to set up a new sales record in the fourth year in a row.
The team sports division with a sales increase of 20 percent in Europe was an essential growth engine. The company specifically expanded its activities in the amateur club area. This “strategic advance” brought Hummel closer to its “ambitious goal” to work with 10,000 clubs by 2028, the company said. In addition, the demand for jerseys from the professional clubs Werder Bremen, AFC Sunderland and Real Betis and the Danish national soccer team also increased.
The “strategic realignment” has an effect
Thanks to a “strategic realignment”, which aimed primarily on concentration on the core business and the long -term positioning of the brand, the sporting goods provider was also able to make considerable progress in profitability. The result before interest, taxes and depreciation (EBITDA) rose to 19.2 million euros.
The bottom line was a net profit of 1.6 million euros. In the previous financial year, Hummel had had a net loss of 13 million euros. According to the company, the improvement was due, among other things, to efficiency increases in the supply chain and the reduction of the inventory.
For 2025, Hummel expects stable sales development and “significant progress” in operational business, especially in the core categories of football, handball and children’s clothing.
“The year is still influenced by external factors such as high inflation in Turkey, a difficult global business environment and considerable investments in product development and brand positioning,” said CEO Lars Stentebjerg in a statement.