The Swiss sporting goods provider on Holding AG surpassed its own forecasts in the 2024 financial year. In view of the positive results that the sneaker specialist released on Tuesday, the company also set ambitious goals for the current year.
In the Asian-Pacific area, the proceeds increase by almost 85 percent
In the past financial year, sales amounted to CHF 2.32 billion (CHF 2.47 billion). This corresponded to an increase of 29.4 percent compared to 2023. Adjusted to change course changes, the proceeds increased by 33.2 percent.
The growth driver was the own retail with an increase of 40.3 percent (currency -adjusted +44.6 percent) to CHF 942.8 million. In the wholesale business, sales rose by 22.8 percent (currency -adjusted +26.3 percent) to almost 1.38 billion Swiss francs.
The revenues developed most dynamically in the Asian-Pacific area, where they rose by 84.5 percent (currency-adjusted +95.6 percent) to CHF 260.2 million. In America, sales grew by 27.4 percent (currency -adjusted +31.2 percent) to CHF 1.48 billion. In the EMEA region, which includes Europe, the Middle East and Africa, the proceeds were 577.8 million Swiss francs. Compared to the previous year, they rose by 18.2 percent (currency -adjusted +19.9 percent).
On can more than triple the net profit
Thanks to the higher share of sales of one’s own retail and a disciplined price policy, the gross margin increased from 59.6 to 60.6 percent. The result, which was adjusted for special effects before interest, taxes and depreciation (EBITDA), therefore rose by 40.0 percent to CHF 387.6 million. The designated net profit amounted to CHF 242.3 million (CHF 258.6 million). He was more than three times as high as in the previous year, in which he was 79.6 million Swiss francs.
Last but not least, the surprisingly strong annual results owed to a successful final sprint. In the fourth quarter, sales rose by 35.7 percent (currency -adjusted +40.6 percent) to CHF 606.6 million. The bottom line was a net profit of CHF 89.5 million after the company had a loss of CHF 26.8 million in the corresponding period of the previous year.
The company also predicts strong growth for 2025
After the “extraordinary” results last year, management also expects strong growth for 2025. A currency -adjusted increase in sales is forecast by at least 27 percent to more than CHF 2.94 billion. The EBITDA margin, which was adjusted for special effects, which was 16.7 percent in 2024, is to be increased to 17.0 to 17.5 percent.